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2023-04-24-AC-min
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2023-04-24-AC-min
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5/24/2023 2:40:57 PM
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5/18/2023 10:03:24 AM
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2023
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Town Clerk
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Minutes
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04/24/2023 AC Minutes <br />1 <br />Minutes <br />Town of Lexington Appropriation Committee (AC) <br />April 24, 2023 <br />Place and Time: Robbins Room – Cary Memorial Building, 1605 Massachusetts Ave.; <br />7:00p.m.–7:30 p.m. <br />Members Present: Glenn Parker, Chair; Anil Ahuja; John Bartenstein; Alan Levine, Secretary; <br />Eric Michelson; Sean Osborne; Carolyn Kosnoff, Assistant Town Manager, Finance (non-voting, ex <br />officio) <br />Members Absent: Sanjay Padaki, Vice-Chair; Lily Manhua Yan <br />Other Attendees: None <br />At 7:05 p.m. Mr. Parker called the meeting to order. <br />Announcements and Liaison Reports <br />No announcements or liaison reports were made. <br />Increase the FY2023 authorization of the Lexington Tree Fund Revolving Fund <br />The Department of Public Works requested an increase in the current fiscal year authorization for <br />the Lexington Tree Fund Revolving Fund from $75,000 to $125,000. This would fund tree replace- <br />ment at the Center Recreation Area where a large number of trees were recently removed. <br />Changing the annual authorization of a revolving fund can be done with the approval of the Select <br />Board and the Appropriation Committee. The Select Board approved this request at a meeting on <br />April 12. <br />The Committee approved the request by a vote of 6-0. Mr. Parker signed a printed request form on <br />behalf of the Committee and returned it to Ms. Kosnoff. <br />Updated financing of the lead and copper removal project for Town water infrastructure <br />Per Ms. Kosnoff, the original motions under Article 5(a) and Article 13 assumed that only a portion <br />of the cost of the Water Department’s Lead and Copper Program (a.k.a. “Lead Service Line Re- <br />placement”) would be eligible for no-interest 10-year loan financing from the Massachusetts Water <br />Resources Authority (MWRA). The Town has recently learned that the entire cost of this program <br />is eligible, and taking full advantage of the MWRA financing will save the Town $286,000 in inter- <br />est costs. <br />To make this change, the motion for Article 5(a) was modified to add $1,300,000 of additional debt <br />service, and funding under Article 13 was modified to be entirely debt-based. For the funding of Ar- <br />ticle 13, this eliminated $500,000 in Water Enterprise Funds Retained Earnings and $800,000 in <br />Water User Rates, and added $1,300,000 to the $2,909,580 of Water Enterprise Fund debt that was <br />previously in the request, for a total of $4,209,580 in debt. <br />The Committee voted to recommend approval of the revised motions for Article 5(a) and Article 13 <br />by a vote of 6-0. <br />Minutes of Prior Meetings <br />Minutes from the Committee meeting on April 3 were approved by a vote of 6-0.
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