HomeMy WebLinkAboutMinutes - CBC - 04/30/2018 Capital Budget Committee
April 30, 2018
Minutes
Approved 6-11-2018 5-0
CBC Members Present: Wakeman, Host, Donohue, Dormitizer, Franklin, Redmann
Mr. Wakeman opened the meeting at 18:20 with the above quorum present.
Discussion of Alternative Motions for Article 7
Mr. Dormitzer presented alternative motions for Article 7 that had been vetted in the days
leading up to town meeting with town moderator and town counsel to allow for a path
forward without a commitment to the full $12.5 million set forth in the Warrant as printed
and the motion to Article 7 presented by town manager. (These motions to be referred to
as Motion 7a and Motion 7b, drafts of which are attached to these minutes).
Motion 7a
Although Town counsel had previously reviewed the motion, he requested a change to
the draft substituting "borrowed from the Capital Stabilization Fund" to "transferred from
the Capital Stabilization Fund" (CSF). CBC members discussed the impact of that change,
acknowledging that borrowed provides for repayment and transfers does not necessarily
provide for repayment. Members performed a calculation to ensure adequate funds
were available citing the approximate current balance of the CSF of $686K plus the
bonding of the fire truck at $420K, plus $67K in unspent prior authorizations totaled
$1,178,000. Less the $700K to support the motion and the remaining CSF would leave a
balance of $478K, less than preferred levels, but CBC Members felt strongly that the
alternative should be made available to residents.
Motion 7b
Mr. Dormitzer presented Motion 7b to be presented in the event that both the motion for
Article 7 as presented by the town manager and the alterative Motion7a as presented by
CBC both failed. A draft of Motion 7b is attached.
Votes:
A motion was made and seconded to accept and present to the town the Motion 7a (as
amended by town counsel) for presentation to the town as an alternative motion to the
Article 7 motion presented by the town manager. Voted: 5-0 in favor of presenting Motion
7a.
A motion was made and seconded to accept and present to the town Motion 7b, only in
the event that both the motion to the Article 7 presented by the town manager and
Motion 7a presented by CBC both failed. Voted: 5-0 in favor presenting this motion.
There being no further business we voted to adjourn at close of Town Meeting.
Respectfully submitted
Susan Franklin