HomeMy WebLinkAbout2011-03-30-AC-min
March 30, 2011
Minutes
Town of Lexington Appropriation Committee
March 30, 2011
Time and Location: Ellen Stone Room, Cary Hall, 6:45 p.m.
Members Present: Glenn Parker, Chair; John Bartenstein, Vice Chair and Secretary;
Joe Pato, Vice Chair; Robert Cohen; Alan Levine; Eric Michelson; Susan McLeish;
Richard Neumeier; Rob Addelson (non-voting, ex officio)
The meeting was called to order at 6:45p.m.
Article 19 (Rescind Prior Bond Authorizations).
1.Rob Addelson made a short
presentation on prior bond authorizations proposed to be rescinded because the capital
projects in question have been completed and the full amount of borrowingoriginally
requested is no longer necessary. He explained that although there is no legal
requirement to rescind these authorizations, it is a good practice to get them off the
booksbecause they clutter the general ledger. He also provided the Committee with a
seven-page table of “Available Balances of Prior Years’ Capital Authorizations,”
sometimes referred to as “open money articles.”
The prior authorizations to be rescinded, from articles approved at the 2007, 2008 and
2009 Annual Town Meetings,total approximately $82k. A motion was made and
seconded to recommend approval of Article 19. Vote: Approved 8-0-0.
In response to an inquiry by Mr. Bartenstein, Mr. Addelson said that an authorization
made under Article 34 at the 1999 Annual Town Meeting for $3,000,000in borrowing to
fund potential land acquisitions was not among those proposed to be rescinded
because the Conservation Commission had objected to rescinding this item several
years ago. There was general agreement that this is an issue that should be revisited
next year since the principal source of funding for land acquisition is now the CPA and
any land acquisition would require Town Meeting approval in any event.
Article 10 (Municipal Capital).
2.Mr. Addelson explained that where bonds have
been issued for previously approved projects and the projects have beencompleted
without spending all of the funds, the excess bond proceeds are available for re-
appropriation for any other purpose for which funds could be borrowed for an equal or
greater term. It will be proposed in the motion under Article 10to re-appropriate excess
bond proceeds totaling $42kfrom a number of prior-year articles. This will also free up
additional free cash, bringing the balance that is available to apply toward the snow and
ice deficit from $200k to about $242k.
Article 10(i) (South Lexington Transportation Master Plan).
3. Mr. Addelson
advised thatthis item willbe indefinitely postponed as it was already funded at the 2010
ATM. The $125k willbe held in the Traffic Mitigation Stabilization Fund.
1
March 30, 2011
Article 23 –Prior Years’ Unpaid Bills
4.. As there are no prior years’ unpaid bills,
this article willbe indefinitely postponed and no committee vote is necessary.
Article 6 –Senior Service Program
5.. Because there is a substantial carry-over
balance in the continuing balance account for this program, the Town Manager has
recommended an appropriation of $10,000, which should bring the total available funds
as of the end of the year to approximately $45,000. A Motion was made and seconded
to recommend approval of an appropriation of $10,000. Vote: Approved 8-0-0.
The Committee discussed article presentations and comments for TownMeeting this
evening and the meeting was adjourned at 7:15p.m.
A list of documents and exhibits used at the meeting is attached.
Respectfully submitted,
Andrea Yepez
Recording Secretary
Approved April 20, 2011
2
March 30, 2011
Exhibits
Town of Lexington Appropriation Committee
March 30, 2011
1.Meeting Agenda, posted by Glenn Parker, Chair.
2.Available Balances of Prior Years’ Capital Authorizations, distributed by Rob
Addelson, Assistant Town Manager for Finance.
3