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RIECEIVED Minutes of the 2022 15IIFolllr 4 111:rin Lexington Capital Expenditures Committee (CEC) Meeting xx January 11, 2022 APRIL 14" L.ILMNVn;A II ON MA .G AINGI, Location and Time: Remote Meeting; 8:00 A.M. CEC Members Present (remote participation): Charles Lamb, Chair; David Kanter, Vice-Chair & Clerk; Sandy Beebee; and Frank Smith CEC Members Absent: Rod Cole Others Present (remote participation): Other Lexington Committees: Glenn Parker, Chair, Appropriation Committee, liaison to CEC; Staff: Finance Department. Sara Arnold, Recording Secretary Documents Presented: • Notice of Public Meeting/Agenda CEC Meeting, January 11, 2022 • FY2023 Town Manager's Preliminary Budget & Financing Plan (White Book) • Email from Mr. Kanter to Mr. Lamb, January 10, 2022, Subject: White Book • Email from James Malloy, Town Manager, to Carolyn Kosnoff, Assistant Town Manager for Finance; and Jennifer Hewitt, Lexington Budget Officer, Subject: Oil vs. Electric Hot Water Heater Call to Order Mr. Lamb called this Remote (Virtual) Meeting, which had been posted as such, to order at 8:00 A.M. As the Committee members present had been previously advised of the special conditions of this meeting, he passed on repeating them (i.e., the authority to not require a physical presence of a quorum and other selected terms under the Open Meeting Law in legislation signed on June 16th of this year by Massachusetts Governor Charles D. Baker). Mr. Lamb advised that materials provided electronically to the Committee or presented at the meeting, would be available upon request and are those listed in the Minutes as Documents Presented. Any votes during this meeting would be taken by a roll call. Further, this meeting would be recorded to assist in preparing Minutes, and the recording would be deleted once the Minutes are approved. Mr. Lamb took a roll-call attendance, determining that four members were present. Committee Comments on the "White Book" for the Fiscal Year (FY) 2023 Budget Summit III Mr. Kanter's January 10, 2022 email to Mr. Lamb was used to discuss the potential points to be made by Mr. Lamb during his presentation of CEC comments on the White Book at the January 13, 2022, Budget Summit III. Mr. Kanter added during the discussion that the Summit presentation provides another opportunity to demonstrate this Committee's meaningful relevance in the budget process. During the discussion, Mr. Smith reported on his recent conversation with John Livsey, Town Engineer, about the current challenges associated with pursuing capital projects—an example being the pump-station replacement for which the recently received bid price was almost double the fall CIP estimate. According to Mr. Livsey, in addition to supply-chain issues, price increases may also be impacted by an influx of Federal funding, causing a surge in competing projects, and creating an increased demand on materials and contractors' labor Page 1 of 3