The URL can be used to link to this page

Home My WebLink About2015-03-23-CEC-ATM-STM-rpt (Updates 04-15-15) UPDATES TO CAPITAL EXPENDITURES COMMITTEE REPORT TO 2015 ATM & STMs (Mar 23rd) CAPITAL EXPENDITURES COMMITTEE TOWN OF LEXINGTON UPDATES TO THE REPORT TO THE 2015 ANNUAL TOWN MEETING (ATM) & 2015 SPECIAL TOWN MEETINGS, March 23, 2015 (STM) (Released March 16, 2015; Errata Released on March 19, 2015) Released April 15, 2015 Submitted by: Jill I. Hai, Chair David G. Kanter, Vice-Chair Elizabeth DeMille Barnett Rodney Cole Wendy Manz Starts on reverse UPDATES TO CAPITAL EXPENDITURES COMMITTEE REPORT TO 2015 ATM&STMs(Mar 23`d) This document provides updates and four additional corrections to the Committee's report. (Two corrections were in the earlier Errata publication.) The updates reflect the changes that have come to the Committee's attention as of the publication of this document or revised Committee positions and explanations that were either verbally made to Town Meeting during its deliberations or that are expected still to be presented to the 2015 ATM. (If an update is material to the Committee's position as verbally presented to the Meeting, the change from the original report was or will be identified at that time of that presentation.) Page 46: a. In the 1st full paragraph ("This Committee...."), 1st sentence, change"buildings"to "house". b. Add as a new paragraph following that 1st full paragraph: While two of the funding sources ($264,428 for Community Housing and$253,027 for Open Space; totalling $517,455) are CPA-category specific, only the use of $100,545 of the Unbudgeted Reserve must be analyzed regarding assignment to CPA categories. (That assignment has no bearing on the financial sourcing, but is just for tracking how the Town is using the funding to meet the objectives of the CPA.) That use includes $5,545 related directly to Community Housing (including the $3,000 for protection of the house) and $95,000 for ancillary costs (legal and other miscellanous purposes related to the purchase and use of the property). This Committee's approach is to assign the ancillary funding in the same proportion as the category-specific funding. In this case, that category-specific funding (including the $5,545) is 51.6% for Community Housing and 48.4% for Open Space. That results in the$95,000 for ancillary costs having$49,020 assigned to Community Housing and $45,980 to Open Space. The total appropriation then has $318,993 allocated to Community Housing and$299,007 to Open Space. Page 47: In the Article 11 header table, Funding Source: a. Change"$10,076,825 GF (Debt)"to "$10,005,743 GF (Debt)". b. Append at the end"+$71,082 Unexpended Cash Balances". Pages 48 &49: In sub-Article(c): a. In the header table, change the Funding Source to "$43,343 GF (Debt) + $225,575 GF (Free Cash)+ $71,082 Unexpended Cash Balances". b. Add, at the end(on Page 49), as a new paragraph: The following table identifies the Unexpended Cash Balances from prior appropriations that are being reappropriated as part of the funding of this capital effort: Unexpended Cash Balances to be Re-Appropriated Original Appropriation Original Purpose Amount 1996 ATM,Article 14 Library Construction $4,513 2009 ATM,Article 18A School Technology $721 2011 ATM,Article 12A School Technology $67 2012 ATM,Article 15B Classroom Furniture $78 2012 ATM,Article 11B Park Improvements—Hard Court Resurfacing $6,332 2013 ATM,Article 10A Fire Pumper Replacement $47,687 2013 ATM,Article 13B Classroom Furniture $6,706 2013 ATM,Article 14M Public Facilities Vehicle Replacement $4,978 Total $71,082 Pages 54 &55: In sub-Article(q): a. In the header table, Change the Committee Recommends to "Approval 3-2". 1 UPDATES TO CAPITAL EXPENDITURES COMMITTEE REPORT TO 2015 ATM&STMs(Mar 23`d) b. Change the last paragraph ("The member in opposition...") to: The members in opposition to this project believe it is premature to provide this funding. Their concerns include, but are not limited to, that (1) exactly what will be purchased is not known; (2) the request is to fund the "full buy" of meters before any success has been demonstrated; (3) there is an insufficient understanding of just how the meters will be programmed with the expectation to achieve the presumed behavioral change; (4) there is no material change proposed in the enforcement activity (still just one Parking Enforcement Officer) to enhance the likelihood of the presumed behavioral change; (5) no requirement that employers will be required to work in parallel so employees are not using prime parking intended for customers; and (6) they have much doubt that in the Lexington context the expected change in behavior will be achieved and may, in fact, cause some customers to shop and visit elsewhere. Page 56: In the Article 14 header table, replace the Funding Source entry with "$894,845 Water EF (RE) +$5,155 Unexpended Cash Balance from 2010 ATM,Article 13B, Rehabilitating Standpipes" Page 65: a. In Article 24, last table, Original Appropriation, 2nd row: Correct"Article 3"to "Article 2". b. In Article 25: (1) Replace the header table with: Article 25: Rescind Amount for Rescission Original Committee Recommends Prior Borrowing Authorization Authorizations $3,264,471 See Below Approval(4-0) (2) Replace the next-to-last paragraph ("Beyond the rescissions...")with: Beyond the rescissions addressed under Article 24, there are the following additional rescissions: Original Appropriation Purpose Amount Reason 2007 ATM,Article 36 Public Works $2 261,871 Project completed without needing this Facility remaining authority. Land Purchase—Off Project completed without needing this 2010 ATM,Article 9 Marrett Road $1,002,600 (Cotton Farm remaining authority.t Acquisition) Total $3,264,471 tSeller financed, without interest and over two years, the$2,300,000 balance due on the $3,800,000 purchase after an initial CPF cash payment of$1,500,000. The first payment due against the balance was under a BAN (for cash received). That payment originally was to be $1,300,000 in FY2012, but was accelerated and discounted to$1,297,400 due to financing costs to be borne by the Town that had not been contemplated; leaving$2,600 of the overall authorization unused. (That BAN was paid off under the 2011 ATM,Article 8(k).)The last $1,000,000 payment was due on a BAN (but written for the seller as security only; no cash received; and thus did not use any of the bonding authorization)that was paid off as a debt service under 2012 ATM,Article 8(1). The authorization now being rescinded is the sum of those two unused debt authorizations. Page 66: In Article 26, header table, Funds Requested, last line: Change"$18,175"to "18,174.93". 2 UPDATES TO CAPITAL EXPENDITURES COMMITTEE REPORT TO 2015 ATM&STMs(Mar 23`d) Page 67: In Article 30: a. Replace the header table with: Article 30:Amend Funds Funding Committee Budget Requested Purpose FY2015 Source Recommends Operating, Recreation $30,000 Recreation Recreation EF Approval(4-0) Enterprise EF Expenses (RE) And CPA Budgets CPA $1,000,960 CPA Debt CPA (Cash) Approval(5-0) (Enterprise & Service CPA only) b. 1st paragraph ("`To see if..."), next-to-last line, after "thereto.", correct by adding a closing quotation mark. c. As a new paragraph after the 1st paragraph, add: Recreation EF The current estimate for the equipment needed for the Community Center's exercise room is $60,000; however, that funding wasn't included in the Center's capital budget and purchasing that equipment so the room is fully functional is considered important. DPF does not believe there will be a sufficient balance in the existing capital appropriation to finance that purchase. The requested increase in the EF budget, together with a matching amount that the BoS has authorized be spent from the Selectmen's Gift Account, will provide the funding needed for the exercise-room equipment. d. On the line before the next paragraph("It was contemplated..."), add"CPA". Page 69: In Article 42, last line: Replace the last clause("it believes....")with "it believes that because of the imprecision and inherent redundancy of the Motion under this Article, it does not advance the cause.". Pages E-1 &-2: a. Article 11(c): Replace Funding Source with "$43,343 GF (Debt) + $225,575 GF (Free Cash) + $71,082 Unexpended Cash Balances" b. Article 14: Replace Funding Source with "$894,845 Water EF (RE) + $5,155 Unexpended Cash Balance from 2010 ATM,Article 13B, Rehabilitating Standpipes". c. Article 25: Replace Request with "Multiple"; add "See Article for original authorizations." to Funding Source. d. Article 26: Correct Request to "Multiple"; add"See Article for specifics."to Funding Source. e. Article 30: In Description, change"(CPA Only)"to "Enterprise&CPA Only"; replace Request with"Multiple", and Funding Source with"See Article for specifics.". f. Article 31: Correct Request to "N/A". g. Totals: In Description, change"Totals"to "Totals (excluding values of the "Multiple" entries)" and replace Request with"$34,509,925". 3