HomeMy WebLinkAbout2008-03-26-AC-min
March 26, 2008
Minutes
Town of Lexington Appropriation Committee
March 26, 2008
Place and time: Cary Memorial Building, Legion Room, 6:40 P.M.
Members present: Alan Levine (Chair), Deborah Brown (Vice Chair), Richard Eurich,
Pam Hoffman, Susan McLeish, Eric Michelson, Rob Addelson (ex officio, non-voting)
Also present: Dawn McKenna (Tourism Committee), Fire Chief Bill Middlemiss
1. Article 23 Rescind Prior Borrowing Authorizations
The following items will
be included:
a) Art 30B – 2005 – White House Planning – School Admin. This would
rescind $154K of a $240K authorization.
b) Art 32C – 2005 – Traffic Signal Improvements – Lowell & Maple. This
would rescind $25K of a $75K authorization.
2. Liberty Ride
The Town Manager will recommend to the Board of Selectmen
that a revolving fund be established at this year’s Town Meeting. The
establishment of a revolving fund can only be done at the request of the
Selectmen, and they will not take that vote until Monday March 31. A cash flow
analysis conducted by Rob Addelson suggests that the revolving fund should be
funded with $20K. To reach this amount, $17,500 would come from a reduction
in the appropriation to the Reserve Fund, and the rest from an approved $2659
transfer from the Selectmen’s gift fund. The first Town Meeting action will
require establishing the revolving fund under Article 8. Then the following
changes must be made to Article 4:
a) reduce General Fund revenues by $143,129
b) reduce Liberty Ride by $125,629 to $17,500
c) reduce Reserve Fund by $17,500
d) fund the revolving fund with the $17,500.
Committee comments included questions on whether it sets a bad precedent to use
earmarked Reserve Fund money for such purposes and on what commitment is in
place to assure repayment of the seed money. The committee is withholding a
recommendation until the Selectmen approve establishment of the revolving fund.
3. Article 21 – Laconia St
The request under this article would be funded by
transferring the needed funds from the FY08 DPW budget to this article. Once
done this expense would not be added to the betterment. This appropriation has
been approved by Town Counsel and is supported by the Board of Selectmen.
The committee unanimously supports this (7-0).
4. Article 22“Appropriate for Post Employment Benefits”
A March DOR
bulletin noted that the establishment of OPEB funds is illegal without legislative
approval. Lexington received that approval in 2002.
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March 26, 2008
The meeting was adjourned shortly after 7:24 p.m.
Town Meeting Action
Article 41 Municipal Electric Utilities (non-binding resolution)– Recommended support
of the article (7-0).
Respectfully submitted,
Eric Michelson
Approved May 27, 2008
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