2022-01-05-AC-min - Laserfiche WebLink

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RECEIVED kdkk 28Jain, 912 ain't 01/05/2022 AC Minutes TOWN CLERK LEXINGTON :A Free cash"set aside" of$200,000: This would require an appropriation at the 2022 Annual Town Meeting (ATM), which would delay implementation and completion. Ms. Battite hopes to have additional information, including a more precise cost estimate, within the next two weeks. She plans to prepare documentation with photos. Discussion of FY2023 Budget Requests Ms. Kosnoff reported that the FY2023 Town Manager's Preliminary Budget& Financing Plan (White Book)would be available electronically on Friday. No one requested a hard copy. Ms. Kosnoff added that the White Book would be presented briefly to the SB on Monday, and it would be discussed further at the Financial Summit scheduled for January 13. A draft 2022 ATM warrant is to be ready by Friday, and it is expected that the SB will vote on the warrant on January 24. Mr. Parker commented that this Committee might, in the future, be interested in reviewing the Program Improvement Requests (PIRs)that are submitted by staff prior to the preparation of the White Book. Ms. Kosnoff added that municipal staff had submitted approximately $1.5 million in PMs for FY2023, with $440,000 being included in the proposed budget. The approved PIRs are identified in the White Book. Mr. Parker noted that he had previously distributed the lists of all the PMs as they were discussed at SB meetings. Ms. Kosnoff added that the source of the requested funding for most of the approved PMs would be the General Fund, while an enterprise fund would be the source of funding for a few. Some of the PMs address mandates, such as police training. Planning for this Committee's Report to the 2022 ATM Ms. Kosnoff identified some financial policy issues that this Committee may want to address in its report, including funding the Capital Stabilization Fund, the 20-year Capital plan, the Recreation Enterprise Fund (which has been particularly difficult to maintain during COVID 19), and the possible creation of a Stormwater Management Enterprise Fund, which will likely be brought to the FY2023 ATM. She added that the Retirement Board is expected to recommend that the Cost of Living Adjustment for retirees be based on a maximum of$15,000 per year rather than the current $14,000 per year, which adds approximately $130,000 to the Town's pension fund liability. A warrant article is needed to make this change. The impact on the Pension Fund has been included in the proposed FY2023 budget. Ms. Kosnoff agreed to arrange for WDesk accounts for AC Committee members so that they can access the Town's software for use in preparing their report. Mr. Parker volunteered to try and transfer information from the previous year's AC report to WDesk. The impacts of COVID19 on the budget and staff were discussed. It was noted that bid prices were coming in high, in some cases twice the estimates. The costs for metal materials, building materials, and electronics are particularly high, while paving and sidewalk costs have not been affected so dramatically. Staff on both the municipal and school sides have been impacted by illness or quarantining requirements. Municipal staff may return to working remotely for a period of time. American Rescue Plan Act funds can be used for increased testing and Health Department staff to help buffer the impact on the operating budget. To date, the Town's five-year plan has not been adjusted. Minutes of Prior Meetings A motion was made and seconded to approve the minutes of the meeting on November 17, 2021, as edited. The motion was approved by roll call vote. VOTE: 7-0 2