HomeMy WebLinkAbout2024-10-09 Finance Committee Packet
Town of Reading
Meeting Posting with Agenda
2018-07-16LAG
Board -Committee -Commission -Council:
Finance Committee
Date: 2024-10-09Time: 7:00PM
Building: Reading Town Hall Location: Conference Room
Address: 16 Lowell StreetAgenda: Revised
Purpose:General Business
Meeting Called By:Jacquelyn LaVerde on behalf of Chair Joe Carnahan
Notices and agendas are to be posted 48 hours in advance of the meetings excluding
operation and make necessary arrangements to be sure your posting is made in an
adequate amount of time. A listing of topics that the chair reasonably anticipates will be
discussed at the meeting must be on the agenda.
All Meeting Postings must be submitted in typed format; handwritten notices will notbe accepted.
Topics of Discussion:
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AGENDA:
Welcome
Liaison Reports
Discuss and Vote on Use of Free Cash to Support the FY26 Budget
Discuss and Vote on Financial Articles in the Subsequent Town Meeting Warrant
Discuss and potentially select representative to Eastern Gateway Steering
Committee*
Future Agendas, including Financial Forum II
Review and Approve Minutes from the September 18, 2024 Meeting (Financial
Forum I)
*Revised 10/3/24 to add Eastern Gateway Steering Committee agenda item. Originally
posted 8:56 am, Oct 02, 2024.
This Agenda has been prepared in advance and represents a listing of topics that the chair reasonably anticipates will be discussed
at the meeting. However the agenda does not necessarily include all matters which may be taken up at this meeting.
Page | 1
FY26
Total Free Cash Usage
Increase to Operating Budgets
($millions)
FY26 Free Cash
Usage
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2
4.00%3.75%3.50%3.50%3.50%
Town of Reading
Budget Summary One YrOne YrOne YrOne YrOne Yr
10/3/24 4:39 PMProjectedChngProjectedChngProjectedChngProjectedChngProjectedChng
No.FY25FY25FY26FY26FY27FY27FY28FY28FY29FY29
Revenues
A1Total Property Taxes88,551,9781.6%90,479,0852.2%93,791,0623.7%97,210,8383.6%100,716,1093.6%
A2Total Other Local Revenues10,971,00019.4%11,513,0004.9%11,809,0502.6%12,181,1533.2%12,544,2103.0%
A3Total Intergov't Revenues16,086,0233.4%16,488,1742.5%16,900,3782.5%17,322,8872.5%17,755,9602.5%
A4Total Transfers & Available4,293,4680.7%4,391,1882.3%4,489,6602.2%4,590,8072.3%4,694,7072.3%
A98Revs before Free Cash$ 119,902,4693.23%$ 122,871,4462.48%$ 126,990,1503.35%$ 131,305,6853.40%$ 135,710,9863.35%
A5Free Cash3,560,00038.0%-100.0%#DIV/0!#DIV/0!#DIV/0!
A6Extra for Capital700,0000.0%0-100%0-100%0-100%0-100%
A99Net Available Revenues$ 124,162,4693.96%$ 122,871,446-1.04%$ 126,990,1503.35%$ 131,305,6853.40%$ 135,710,9863.35%
Accommodated Costs
B Benefits22,350,2827.2%24,411,7199.2%26,319,0607.8%28,430,9278.0%30,630,8697.7%
C Capital3,787,00028.9%3,020,000-20.3%3,336,00010.5%3,794,00013.7%4,266,50012.5%
Debt (inside levy)2,818,038-16.6%3,496,14224.1%3,369,134-3.6%3,107,246-7.8%2,840,018-8.6%
D Debt (excluded)1,279,700-52.4%0-100.0%000
E Energy2,563,80011.9%2,592,0011.1%2,676,4723.3%2,774,7853.7%2,866,5423.3%
F Financial1,331,7007.2%1,336,3680.4%1,367,9022.4%1,400,3802.4%1,433,8352.4%
G Education - Out of district6,035,3284.0%6,311,7164.6%6,548,4053.8%6,793,9713.8%7,048,7443.8%
H Education - Vocational1,100,99221.7%1,247,82013.3%1,296,9023.9%1,347,9263.9%1,400,9693.9%
J Miscellaneous3,701,0284.4%4,143,35212.0%4,418,6366.6%4,553,7133.1%4,693,8273.1%
K Community Priorities150,0000.0%150,0000.0%00.0%00.0%00.0%
L1Accommodated Costs$ 45,117,8683.04%$ 46,709,1173.53%$ 49,332,5115.62%$ 52,202,9475.82%$ 55,181,3045.71%
L2Net Accommodated Costs$ 45,117,8683.04%$ 46,709,1173.53%$ 49,332,5115.62%$ 52,202,9475.82%$ 55,181,3045.71%
$ 2,007$ (5,994,364)$ (7,524,537)$ (9,060,815)$ (10,719,596)
Operating Costs
OC1Municipal Gov't Operating 27,515,8384.00% 28,658,2763.75% 29,661,3163.50% 30,699,4623.50% 31,773,9433.50%
adjustments 106,597
adjustments (EF+RF) 1,294,6774.00% 1,343,2283.75% 1,390,2413.50% 1,438,8993.50% 1,489,2613.50%
TOTAL Muni Govt OPER 28,917,1124.38% 30,001,5043.75% 31,051,5573.50% 32,138,3613.50% 33,263,2043.50%
OC2School Operating 49,973,5574.00% 52,005,1883.75% 53,980,6203.50% 56,025,1923.50% 57,986,0733.50%
adjustments 151,925 150,000 150,000 - -
TOTAL School OPER 50,125,4834.32% 52,155,1884.05% 54,130,6203.79% 56,025,1923.50% 57,986,0733.50%
OC4Operating Budgets$ 79,042,5954.34%$ 82,156,6933.94%$ 85,182,1773.68%$ 88,163,5533.50%$ 91,249,2773.50%
Municipal Gov't Operating36.6%36.5%36.5%36.5%36.5%
School Operating63.4%63.5%63.5%63.5%63.5%
TOTAL SPENDING$ 124,160,4633.87%$ 128,865,8103.79%$ 134,514,6874.38%$ 140,366,5004.35%$ 146,430,5824.32%
Muni Govt OPER$ 28,917,1124.38%$ 30,001,5043.75%$ 31,051,5573.50%$ 32,138,3613.50%$ 33,263,2043.50%
Muni Govt ACCOM$ 6,465,7787.01%$ 6,917,7026.99%$ 7,285,1405.31%$ 7,526,5623.31%$ 7,766,8303.19%
Muni Govt TOTAL$ 35,382,8904.86%$ 36,919,2064.34%$ 38,336,6973.84%$ 39,664,9233.46%$ 41,030,0343.44%
School OPER$ 50,125,4834.32%$ 52,155,1884.05%$ 54,130,6203.79%$ 56,025,1923.50%$ 57,986,0733.50%
School ACCOM$ 6,035,3284.00%$ 6,311,7164.58%$ 6,548,4053.75%$ 6,793,9713.75%$ 7,048,7443.75%
School TOTAL$ 56,160,8114.28%$ 58,466,9044.11%$ 60,679,0253.78%$ 62,819,1623.53%$ 65,034,8183.53%
3
ATown of ReadingOne YrOne YrOne YrOne YrOne Yr
Revenues - Details ProjectedChngProjectedChngProjectedChngProjectedChngProjectedChng
No.10/3/24 4:39 PMFY25FY25FY26FY26FY27FY26FY28FY28FY29FY29
Property Taxes
Tax levy (within levy limit)87,380,0793.4%90,274,6063.3%93,582,0963.7%96,997,8993.7%100,524,7213.6%
New Growth692,707-4.1%1,025,00048.0%1,050,0002.4%1,075,0002.4%1,075,0000.0%
Tax levy (debt exclusion) 1,279,700-52.4% --100.0% -#DIV/0! -#DIV/0! -#DIV/0!
Abatements and exemptions(800,509)2.5%(820,521)2.5%(841,034)2.5%(862,060)2.5%(883,612)2.5%
A1Total Property Taxes88,551,9781.6%90,479,0852.2%93,791,0623.7%97,210,8383.6%100,716,1093.6%
Other Local Revenues
Motor Vehicle Excise4,320,00010.3%4,556,0005.5%4,783,8005.0%5,022,9905.0%5,274,1405.0%
Meals Tax675,00019.5%730,0008.1%785,0007.5%845,0007.6%900,0006.5%
Penalties/interest on taxes385,00010.0%416,0008.1%445,0007.0%475,0006.7%500,0005.3%
Payments in lieu of taxes465,0005.7%485,0004.3%510,0005.2%535,0004.9%545,0001.9%
Charges for services2,500,0006.2%2,665,0006.6%2,798,2505.0%2,938,1635.0%3,085,0715.0%
Licenses & permits181,0009.7%196,0008.3%206,0005.1%220,0006.8%235,0006.8%
Fines80,0009.6%100,00025.0%106,0006.0%115,0008.5%125,0008.7%
Interest Earnings2,195,00087.6%2,195,0000.0%2,000,000-8.9%1,850,000-7.5%1,700,000-8.1%
Medicaid Reimbursement170,0009.7%170,0000.0%175,0002.9%180,0002.9%180,0000.0%
A2Total Other Local Revenues10,971,00019.4%11,513,0004.9%11,809,0502.6%12,181,1533.2%12,544,2103.0%
Intergovernmental Revenue
State Aid16,086,0233.4%16,488,1742.5%16,900,3782.5%17,322,8872.5%17,755,9602.5%
A3Total Intergov't Revenues16,086,0233.4%16,488,1742.5%16,900,3782.5%17,322,8872.5%17,755,9602.5%
Operating Transfers and Available Funds
Cemetery sale of lots25,0000.0%25,0000.0%25,0000.0%25,0000.0%25,0000.0%
RMLD payment2,522,510-0.6%2,572,9602.0%2,624,4192.0%2,676,9082.0%2,730,4462.0%
Enterprise Fund Support1,294,6774.0%1,343,2283.8%1,390,2413.5%1,438,8993.5%1,489,2613.5%
School Revolving Funds100,0000.0%100,0000.0%100,0000.0%100,0000.0%100,0000.0%
Premiums Reserve for Debt1,281-62%0-100%0#DIV/0!0#DIV/0!0#DIV/0!
Overlay surplus350,0000.0%350,0000.0%350,0000.0%350,0000.0%350,0000.0%
A4Total Transfers & Available4,293,4680.7%4,391,1882.3%4,489,6602.2%4,590,8072.3%4,694,7072.3%
OPERATING REVENUES119,902,4693.23%122,871,4462.48%126,990,1503.35%131,305,6853.40%135,710,9863.35%
A5Free Cash4,260,00029.9%0-100.0%0#DIV/0!0#DIV/0!0#DIV/0!
TOTAL REVENUES124,162,4693.96%122,871,446-1.04%126,990,1503.35%131,305,6853.40%135,710,9863.35%
Town of Reading
Acc. Costs - Summary One YrOne YrOne YrOne YrOne Yr
10/3/24 4:39 PMProjectedChngProjectedChngProjectedChngProjectedChngProjectedChng
No.FY25FY25FY26FY26FY27FY27FY28FY28FY29FY28
BBenefits 22,350,282 7.2% 24,411,719 9.2% 26,319,060 7.8% 28,430,927 8.0% 30,630,869 7.7%
CCapital 3,787,000 3,020,000 3,336,000 3,794,000 4,266,500
Debt (inside levy) 2,818,038 4.5% 3,496,142-1.3% 3,369,134 2.9% 3,107,246 2.9% 2,840,018 3.0%
DDebt (excluded) 1,279,700 - - - -
EEnergy 2,563,800 11.9% 2,592,001 1.1% 2,676,472 3.3% 2,774,785 3.7% 2,866,542 3.3%
FFinancial 1,331,700 7.2% 1,336,368 0.4% 1,367,902 2.4% 1,400,380 2.4% 1,433,835 2.4%
GEducation - Out of district 6,035,328 4.0% 6,311,716 4.6% 6,548,405 3.8% 6,793,971 3.8% 7,048,744 3.8%
HEducation - Vocational 1,100,992 21.7% 1,247,820 13.3% 1,296,902 3.9% 1,347,926 3.9% 1,400,969 3.9%
JMiscellaneous 3,701,028 4.4% 4,143,352 12.0% 4,418,636 6.6% 4,553,713 3.1% 4,693,827 3.1%
KCommunity Priorities$ 150,000$ 150,000
TOTAL Accomm. COSTS$ 45,117,8683.0%$ 46,709,1173.5%$ 49,332,5115.6%$ 52,202,9475.8%$ 55,181,3045.7%
4
Town of ReadingOne YrOne YrOne YrOne YrOne Yr
Acc. Costs - Details ProjectedChngProjectedChngProjectedChngProjectedChngProjectedChng
BFY25FY25FY26FY26FY27FY27FY28FY28FY29FY28
B1Contributory Retirement7,168,65016.8%7,763,6488.3%8,408,0318.3%9,105,8978.3%9,861,6878.3%
B3OBRA fees & OPEB study40,0000.0%40,0000.0%40,0000.0%40,0000.0%40,0000.0%
B4OPEB contribution200,000-33.3%500,000150.0%500,0000.0%500,0000.0%500,0000.0%
B5Workers Compensation400,0002.6%405,0001.3%410,0001.2%415,0001.2%415,0000.0%
B6Unemployment Benefits75,0000.0%80,0006.7%85,0006.3%85,0000.0%85,0000.0%
B7Group Health / Life Ins.13,301,6324.4%14,432,2718.5%15,659,0148.5%16,990,0308.5%18,434,1828.5%
B8Medicare / Social Security1,040,0002.0%1,060,8002.0%1,082,0162.0%1,155,0006.7%1,155,0000.0%
B9Police / Fire Indemnification125,000-7.4%130,0004.0%135,0003.8%140,0003.7%140,0000.0%
B99Acc. Costs - Benefits$ 22,350,2827.2%$ 24,411,7199.2%$ 26,319,0607.8%$ 28,430,9278.0%$ 30,630,8697.7%
C99Acc. Costs - Capital$ 3,787,00028.9%$ 3,020,000-20.3%$ 3,336,00010.5%$ 3,794,00013.7%$ 4,266,50012.5%
D1Debt Service - Principal 3,490,000-33.1% 2,570,667-26.3% 2,565,667-0.2% 2,425,667-5.5% 2,270,667-6.4%
D2Debt Service - Interest 607,738-28.2% 925,47552.3% 803,467-13.2% 681,579-15.2% 569,351-16.5%
D3Excluded debt (1,279,700)-52.4% --100.0% -#DIV/0! -#DIV/0! -#DIV/0!
Total Included Debt$ 2,818,038-16.6%$ 3,496,14224.1%$ 3,369,134-3.6%$ 3,107,246-7.8%$ 2,840,018-8.6%
Premiums for general fund$ -#DIV/0!$ -#DIV/0!$ -#DIV/0!$ -#DIV/0!$ -#DIV/0!
D99Acc. Costs -Debt$ 4,097,738-32.5%$ 3,496,142-14.7%$ 3,369,134-3.6%$ 3,107,246-7.8%$ 2,840,018-8.6%
E1Street Lighting (DPW)135,0000.0%135,0000.0%140,0003.7%145,0003.6%145,0000.0%
E2Electricty (FacCORE)1,095,0002.3%1,095,0000.0%1,127,8503.0%1,172,9644.0%1,219,8834.0%
E3Natl Gas (FacCORE)878,80030.0%896,3762.0%932,2314.0%969,5204.0%1,008,3014.0%
E4Water/Sewer (FacCORE)225,0002.4%230,6252.5%236,3912.5%242,3002.5%248,3582.5%
E6Fuel - vehicles (DPW)230,00021.1%235,0002.2%240,0002.1%245,0002.1%245,0000.0%
E99Acc. Costs - Energy$ 2,563,80011.9%$ 2,592,0011.1%$ 2,676,4723.3%$ 2,774,7853.7%$ 2,866,5423.3%
F1Casualty Ins (AD SVC)986,70010.0%1,011,3682.5%1,036,6522.5%1,062,5682.5%1,089,1322.5%
F2Vet's Assistance (PUB SVC)$ 145,0000.0%$ 125,000-13.8%$ 131,2505.0%$ 137,8135.0%$ 144,7035.0%
F3FINCOM Reserve Fund200,0000.0%200,0000.0%200,0000.0%200,0000.0%200,0000.0%
F99Acc. Costs - Financial$ 1,331,7007.2%$ 1,336,3680.4%$ 1,367,9022.4%$ 1,400,3802.4%$ 1,433,8352.4%
G1SPED transp OOD (Sch)1,119,4564.0%1,253,63612.0%1,300,6473.8%1,349,4223.8%1,400,0253.8%
G2aSPED tuition OOD (Sch)6,029,9204.0%5,804,636-3.7%6,022,3103.8%6,248,1463.8%6,482,4523.8%
G2bSPED contingency508,3524.0%1,190,046134.1%1,234,6733.8%1,280,9733.8%1,329,0093.8%
G3SPED offsets OOD (Sch)(1,622,400)4.0%(1,936,602)19.4%(2,009,225)3.8%(2,084,570)3.8%(2,162,742)3.8%
G99Acc. Costs - OOD SPED$ 6,035,3284.0%$ 6,311,7164.6%$ 6,548,4053.8%$ 6,793,9713.8%$ 7,048,7443.8%
H1Voc School - NERMVS692,2244.0%719,9134.0%748,7094.0%778,6584.0%809,8044.0%
Voc School - NERMVS Capital160,000270,00068.8%280,8004.0%292,0324.0%303,7134.0%
H2Voc School - Minute Man54,0804.0%55,4322.5%56,8182.5%58,2382.5%59,6942.5%
Voc School - Essex North194,6884.0%202,4764.0%210,5754.0%218,9984.0%227,7574.0%
H99Acc. Costs - Vocational$ 1,100,99221.7%$ 1,247,82013.3%$ 1,296,9023.9%$ 1,347,9263.9%$ 1,400,9693.9%
J1Rubbish (DPW) 2,095,2783.0% 2,514,33320.0% 2,765,76610.0% 2,876,3974.0% 2,991,4534.0%
J2Snow and Ice Control (DPW) 675,0000.0% 675,0000.0% 675,0000.0% 675,0000.0% 675,0000.0%
J3State Assessments930,75011.3%954,0192.5%977,8692.5%1,002,3162.5%1,027,3742.5%
Cemetery (DPW)
J99Acc. Costs - Misc.$ 3,701,0284.4%$ 4,143,35212.0%$ 4,418,6366.6%$ 4,553,7133.1%$ 4,693,8273.1%
5
Capital Improvement Plan (CIP)
10/3/2024 16:39 FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY-2035FY-2036FY25-36
TOTAL CAPITAL REQUESTS 3,787,000 3,020,000 3,281,000 3,794,000 4,266,500
3,901,000 4,723,000 5,045,000 4,870,000 3,440,000 1,785,000 2,085,000 51,537,500
Capital & Debt Policy5.57%5.02%5.01%5.04%5.04%5.04%5.03%5.03%5.03%5.02%5.00%5.00%
Annual Surplus (Deficit) - - - -
- - - - 1,079,000 2,895,000 4,813,460 5,337,953
Cumulative Surplus (Deficit) - - - -
- - - - 1,079,000 3,974,000 8,787,460 14,125,414
Capital Projects Identified but there is no proposed funding yet in the Capital Plan (shading/boldcrossout indicates a change from last Town Meeting)
6
Capital Improvement Plan (CIP)
10/3/2024 16:39 FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY-2035FY-2036FY25-36
1. Killam Building project TBD Excluded Debt
- Killam Field improvements, drainage, repaving ($350k HOLD for Killam project)
2. Senior/Community Center TBA Excluded Debt if >$5mil (Options are being explored)
3. DPW Bldg improvements (scope changed)
4. Community projects (no formal capital requests yet)
Legend: xDebt has been approved by the voters as excluded from the Prop 2-1/2 levy; debtni has been authorized by Town Meeting but not yet issued; debtna has not yet been authorized
by Town Meeting
7
Capital Improvement Plan (CIP)
10/3/2024 16:39 FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY-2035FY-2036FY25-36
Facilities - CORE 50,000 100,000 160,000 770,000 442,500
120,000 805,000 50,000 50,000 265,000 - - 2,812,500
Energy (Performance Contract) $4.95mil debt Debt -
Energy Improvements II OPM/Design -
Energy Improvements II $5.0mil/15yr DebtDebtDebtDebtDebtDebtDebtDebtDebt -
Energy (Green Repairs) $1.05mil debt -
Bldg Security - $4.0mil debt DebtDebtDebtDebtDebtDebt -
Bldg Sec. - window film (schools) -
Permanent Bld Committee 50,000 50,000 50,000 50,000 50,000
50,000 50,000 50,000 50,000 50,000 500,000
RMHS Building project ~$55mil debt -
RMHS Bldg proj - $6 mil Litig. some debt DebtDebtDebt -
RMHS Retaining Wall - $0.5mil debt -
RMHS Turf 2 - $2.225 mil debt DebtDebtDebtDebtDebtDebt -
RMHS Stadium OPM/Design -
RMHS Glycol Reclamation & Installation -
RMHS Stadium Turf/Track $3 mil/10yr DebtDebtDebtDebtDebtDebtDebtDebt -
RMHS Ropes Course 97,500 97,500
RMHS/RISE playground design -
RMHS/RISE playground improvements -
RMHS Fldhouse floor/bleachers $3.2 mil TBD debt ($200K design; $3.0 mil project )DebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtna -
Parker MS roof project OPM/design -
Parker MS Roofing project $2.7mil/10yr DebtDebtDebtDebtDebtDebtDebtDebt -
Parker MS Auditorium Lighting Upgrade 50,000 50,000
Coolidge MS roof project design 450,000 450,000
Coolidge MS Roofing project $3.7mil/10yr DebtnaDebtnaDebtnaDebtnaDebtna -
Modular Classrooms $1.2m debt -
Killam Building project TBD xDebtxDebtxDebtxDebtxDebtxDebtxDebtxDebtxDebt -
Barrows/Wd End Bldg projects $0.8mil debt -
Barrows/Wd End Bldg projects debt -
Birch Meadow ES roof project design 230,000 230,000
Birch Meadow Roofing project $1.9 mil/10yr DebtnaDebtnaDebtnaDebtna -
Library Building project $18.4 mil debt xDebt -
Police Sta. project $1.5mil/10yr DebtDebtDebtDebtDebtDebtDebtDebt -
Town Hall Roofing project design $55k design and $550k design 55,000 550,000 605,000
Police Station . Roof $15k design and $150k design 15,000 150,000 165,000
Community Center TBA xDebt if >$5mil -
Community Center Heating System $700k -
DPW Garage Roof Project $102k design and $1.3 million -
DPW Bldg project TBD -
8
Capital Improvement Plan (CIP)
10/3/2024 16:39 FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY-2035FY-2036FY25-36
Electrician Van Ford E350 Econoline (2014) 55,000 55,000
Carpenter's Pickup Ford F-350 (2013) 55,000 55,000
Carpenter's Cut-away Van (2017) 60,000 60,000
Plumber's Cut-away Van (2017) 60,000 60,000
Pickup Truck Chevy 2500HD (2016)10 75,000 75,000
Pickup Truck Chevy 2500HD (2017)10 75,000 75,000
2019 Ford Transit Van10 55,000 55,000
2021 Bobcat L28 Mini Loader (15 years)10 - 100,000 100,000
Bobcat Skid S130 (2008)15 65,000 65,000
Bobcat Utility UV56 (2024)15 - 115,000 115,000
Buildings - Schools (Total) - 120,000 210,000 185,000 100,000
- 80,000 775,000 100,000 1,100,000 - -
2,670,000
Arc Flash Hazard Study 105,000 105,000
Barrows ->
HVAC - Elementary schools 80,000 775,000 855,000
design(yr1)/project(yr2)Wood End -> 100,000 1,100,000 1,200,000
Coolidge MS HVAC - Steam Traps Coolidge -> 75,000 75,000
Carpet/Flooring 70,000 60,000 130,000
Doors & Windows 40,000 40,000 40,000 120,000
Birch Meadow Food Service Line 85,000 85,000
Barrows Food Service Line 85,000 85,000
Wood End Water Heater 15,000 15,000
Parker Carpet/Flooring -
Buildings - Town (Total) - - 144,000 30,000
- - - - - - - -
189,000
Arc Flash Hazard Study 144,000 144,000
Carpet/Flooring 30,000 30,000
Doors & Windows 15,000
9
Capital Improvement Plan (CIP)
10/3/2024 16:39 FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY-2035FY-2036FY25-36
Schools - General 180,000 160,000 312,000 260,000 735,000
260,000 300,000 260,000 310,000 260,000 225,000 225,000 3,772,000
Food Service Van E-250 (2014) 52,000 52,000
Driver's Education Vehicle (2014) 45,000 45,000
Card readers for all the schools 65,000
Vehicle Barriers for all schools 475,000 475,000
Bob Utility UV34 (2021) 50,000 50,000
Courier Vehicle (2019) 40,000 40,000
District-wide Telephone systems 10,000 10,000 10,000 10,000
10,000 10,000 10,000 10,000 10,000 10,000 120,000
Design for Technology wiring projects -
District-wide Technology Wiring projects -
District-wide Technology projects 125,000 150,000 250,000 250,000 250,000
250,000 250,000 250,000 250,000 250,000 225,000 225,000
2,925,000
Technology 555,000 100,000 130,000 150,000 150,000
150,000 150,000 150,000 150,000 150,000 150,000 150,000 2,335,000
Water Tank Town telco equip replace/relocate -
Remote access multi factor authentication -
Internal segmentation firewall -
CAD System (Computer Aided Dispatch) 455,000 455,000
GIS flyover - planimetrics -
Technology projects 100,000 100,000 130,000 150,000 150,000
150,000 150,000 150,000 150,000 150,000 150,000 150,000 1,880,000
Finance - - - - -
- - - 600,000 - - -
600,000
Financial System 600,000 600,000
Library - 10,000 10,000 10,000 10,000
10,000 10,000 10,000 10,000 10,000 10,000 10,000 130,000
Equipment - 10,000 10,000 10,000 10,000
10,000 10,000 10,000 10,000 10,000 10,000 10,000 130,000
Public Services 245,000 - - - 420,000
- 575,000 800,000 485,000 - - -
2,610,000
Maillett Sommes Morgan $1.0mil/10yrs DebtDebtDebtDebtDebtDebtDebtDebtDebt -
Downtown Improvements II $4.0mil/ 20yrs DebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtna -
Downtown Improvements II $3.75 mil Bond Bill -
Downtown Energy Efficient projects -
PARC: Kiosks(4) handheld devices(2) -
Land Use planning (CC & Symonds) -
Sr/Community Center planning -
Parks & Fields space study -
Rehab Playgrounds Program 25,000
KillamSturges -
10
Capital Improvement Plan (CIP)
10/3/2024 16:39 FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY-2035FY-2036FY25-36
Birch Meadow Master Plan -
Birch Meadow Master Plan Design -
Phase 1 $2.3 mill ($1.5mil ARPA grant & $800k debt) -
Support & general Circulation $750k-$1.2mil -
Imagination Station Parking $450-550k -
Phase 2 $2.14mil/10yr debt ($245k design) 245,000DebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtna 245,000
Lacrosse Wall $100-150k -
Tennis Courts, Playground, Parking $800k-$1.0mil -
Basketball Courts $500-650k -
Phase 3 $1.6mil/10yr debt -
Morton Field improvements $600-950k -
Castine Field $75-100k -
Higgins Farm Conserv Area $100-150k -
Birch Meadow Drive Improvements $250-400k -
Phase 4 $6.0mil/10yr debt -
Softball/Multi purpose new turf field $3.2-3.6mil -
Coolidge Field turf $2.2-2.4 mil. -
Artificial Turf@Parker MS (replace) moved $800k to 2032 800,000 800,000
Barrows Tennis court repairs 125,000 125,000
Barrows Basketball court repairs 100,000 100,000
Barrows Replace backstop & repair infield 125,000 125,000
Killam Field improve, drainage, repaving ($350k) held for Killam project decision -
Wood End Field Repairs 325,000 325,000
(*) below indicates $950k in state bond bill details TBA ($805k identified below) -
*Wash Pk:Replace backstop & shift field 150,000 150,000
*Wash Pk:Walking Paths 100,000 100,000
*Mem Pk: Replace Band Stand 50,000 50,000
*Mem Pk:Court resurface 20,000 20,000
*Symonds:Replace backstop 150,000 150,000
*Hunt Pk:Replace backstop 125,000 125,000
Sturges Pk:Tennis court repairs 75,000 105,000
Sturges Pk:Basketball court repairs 85,000 115,000
Sturges Pk:Backstop repairs 50,000 50,000
Public Safety - Fire/EMS - 1,220,000 560,000 580,000 -
2,011,000 85,000 350,000 695,000 75,000 - -
6,352,000
Ladder Trk #1 (2008: $800k, next FY22) (15 years) -
Ladder Truck & Equipment -
Pumper Eng #1 (2010-$525k; next FY30) 1,400,000 1,400,000
Pumper Eng #2 (2007-$410k; next FY25) 1,150,000 1,150,000
11
Capital Improvement Plan (CIP)
10/3/2024 16:39 FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY-2035FY-2036FY25-36
Pumper Eng #3 (2016 $630k; next FY36) -
Pumper Eng #4 (2020 $800k; next FY40) -
Ambulance #1 (2017- 10 yrs) 500,000 500,000
Ambulance #2 (2010 - 10yrs) & equip 575,000 575,000
Ambulance equipment 45,000 45,000 90,000
Passenger Car#1 (2022 - 10yrs) 75,000 75,000
Passenger Car#2 (2024 - 10yrs) 75,000 75,000
Passenger Car#3 (2019 - 10yrs) 71,000 71,000
Passenger Car#4 (2024 - 10yrs) -
Pickup Truck #1 (2019 - 10yrs) 85,000 85,000
Pickup Truck #2 (2012 - 10yrs) 80,000 80,000
Alarm Truck (1994 - 20yrs) -
ALS Defibrillator Monitor (2019 - 7yrs) 70,000 70,000 140,000
BLS AEDs (2020-8yrs) 25,000 30,000 55,000
Rescue Tool 60,000 60,000
Breathing Apparatus (2017-12yrs) 400,000 400,000
Breathing Air Compressor -
Breathing Air Bottles 30,000 30,000
CPR Compression Device 20,000 20,000
Thermal Imaging (2018 - 10yrs) 60,000 60,000
Fire Hose 40,000 40,000
Multigas meters 20,000 20,000
Turnout Gear (2022 - 5yrs) 300,000 350,000 650,000
Public Safety - Police/Dispatch 90,000 - 25,000 50,000
- 30,000 - 160,000 550,000 120,000 -
- 1,025,000
Police Unmarked Vehicles 50,000 50,000 50,000 150,000
Police Parking Enforcement Vehicle (2013) 40,000 40,000
Police equipment (tasers) (7 years) 160,000 160,000
Firearms Replacement (12 years) 120,000 120,000
Radios (Police & Fire 2022 - 12yrs) 500,000 500,000
AEDs 25,000 30,000 55,000
Public Works - Equipment 375,000 275,000 545,000 454,000 1,124,000
45,000 1,418,000 1,190,000 570,000 110,000 - 300,000 6,406,000
Large TrucksLife - 275,000 515,000 - 300,000
- 990,000 1,070,000 240,000 3,390,000
C-03 Dump Truck C3 (2016)10 140,000 140,000
C-04 Dump Truck C2 (2012)10 120,000 120,000
H-05 Small Dump Truck #7 (2012)10 120,000 120,000
H-06 Aerial Pickup Truck #14 (2017)10 100,000 100,000
H-07 Truck #10 (2018)15 240,000 240,000
H-08 Truck #9 - Sander (2017)15 275,000 275,000
H-09 Truck #8 - 10 wheeler (2016)15 245,000 245,000
H-10 Truck #22 -Sander (2015)15 275,000 275,000
12
Capital Improvement Plan (CIP)
10/3/2024 16:39 FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY-2035FY-2036FY25-36
H-11 Truck #4 - Sander (2014)15 275,000 275,000
H-12 Truck #16 - Sander (2011)15 275,000 275,000
H-14 Truck #3 - Sander (2010)15 275,000 275,000
H-15 Truck #5 (2008)15 300,000 300,000
H-16 Truck # 7 (2024)15 250,000 250,000
H-17 Truck # 11 (2024)15 250,000 250,000
H-18 Truck #19 - Sander (2007)15 275,000 275,000
H-19 Truck #18 - Sander (2006)15 275,000 275,000
P-03 Dump truck #24 Parks (2017)15 100,000 100,000
P-04 Dump truck #12 Parks (2015)15 100,000 100,000
Pick-ups/Cars/Vans 155,000 - - - 614,000
- 175,000 120,000 60,000 60,000 - -
1,184,000
C-02 Pickup Ford Utility #C1 (2014)10 100,000 100,000
C-06 Cem. #4 Ford SUV (2024)10 45,000 60,000 105,000
CAR 2 Ford Escape (2016)10 54,000 54,000
CAR 1 Car #3 Hyundia Sante FE HYBRID (2023)10 60,000 60,000
E-01 Chevy Traverse (2019)10 65,000 65,000
F-02 Pickup Chevy #9 Parks (2023)10 -
H-01 Pickup #16 (2015)10 100,000 100,000
H-02 Pickup #18 (2006)10 110,000 110,000
H-03 Pickup #4 (2020)10 120,000 120,000
H-04 Pickup Ford Utility #11 (2014)10 110,000 110,000
M-02 Pickup #1 (2020)10 175,000 175,000
PFC-01 Ford Escape (2017)10 65,000 65,000
P-02 Pickup Ford #2 Parks (2015)10 120,000 120,000
Pickup for P/F/C Supervisor (2024)10 -
Backhoes/Loaders/Heavy Equipment - - - 100,000
- - 60,000 - - - -
- 160,000
C-07 Backhoe Loader (2020)10 -
H-20 Loader JD 624 (2020)10 -
H-21 Loader JD 624 (2017)10 -
Loader to replace Sicard10 -
H-22 Backhoe JD 710L HWY (2020)10 -
H-23 Bobcat Loader (2015)10 -
P-05 Ventrac tractor (2020)10 60,000 60,000
P-06 Tractor JD4520 (Parks) (2012)15 100,000 100,000
Specialty Equipment - Heavy Duty 220,000 - - -
180,000 - 113,000 - - 50,000 - 300,000
863,000
F-04 Bucket Truck #21 Forestry (2024)15 300,000 300,000
F-05 Chipper/LoaderTruck #23 (2008)15 -
F-06 Chipper/LoaderTruck #23A (2024)15 -
H-24 Forklift (2016)15 -
13
Capital Improvement Plan (CIP)
10/3/2024 16:39 FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY-2035FY-2036FY25-36
H-25 Crawler Dozer (2003)15 -
H-26 Snow Primoth SW4S (2016)15 113,000 113,000
H-27 Snow Trackless (2015)15 180,000 180,000
H-28 Snow Holder #1 c992 (2015)15 -
H-29 Snow Holder #2 c480 (2013)15 -
H-31 Leeboy Pavement Sprd (2014)15 -
H-32 Hamm Roller, Large (2014)15 -
H-33 Hamm Roller, Small (2016)15 50,000 50,000
H-34 Leeboy Roller, Small (1998)15 -
H-41 Screener (2018)15 -
Blower unit for Loader15 220,000 220,000
W-23 Sicard HD Snowblower (1999) -
Specialty Equipment - Light Duty - - - 100,000
- 45,000 80,000 - 270,000 - -
- 495,000
C-14 SmithCo 48" Sweeper (2012)10 40,000 40,000
C-15 SKAG Leaf Vac (Cem) (2015)10 25,000 25,000
C-16 Carmate Trailer (2019) 20,000 20,000
C-17 Big Tex Trailer (2013) 10,000 10,000
F-06 Vemeer Chipper (2018) 225,000 225,000
F-08 Stump Grinder new (2021) (replace 20 yrs)20 -
F-09 Trailer Dump Trailer (2015) 50,000 50,000
F-10 Truck Mount Sprayer 500gal (2015) 20,000 20,000
H-35 Tack Machine for Paving (2004) -
H-36 Curb-builder for Paving (2010) -
H-37 HotBox for Paving (2020) -
H-38 Cement Mixer Tow Behind (2005) -
H-39 Mobile Compressor (1) (2019)10 -
H-40 Mobile Compressor (2) (2020) -
H-42 Trailer (2012) -
H-43 Trailer, Roller (1998) -
H-44 Eager beaver Trailer #2 (1996) -
P-11 Smithco SuperStar (2016)15 30,000 30,000
P-12 Smithco 60 Turf Sweeper (2016)15 40,000 40,000
P-14 Leaf Vac SKAG (2016) 25,000 25,000
P-15 Trailer (2016) 10,000 10,000
14
Capital Improvement Plan (CIP)
10/3/2024 16:39 FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY-2035FY-2036FY25-36
P-16 Trailer (2013) -
P-17 Trailer (stump grinder) -
P-18 Trailer Enclosed (2007) -
R-01 Rubbish Barrells for automated pickup -
Lawnmowers - - 30,000 254,000 30,000
- - - - - - -
314,000
C-08 Mwr SKAG TT #2 (2017) 24,000 24,000
C-09 Mwr (Cem.) SKAG 48" (2016) 12,500 12,500
C-10 Mower SKAG 61" (2024) -
C-11 Mwr (Cem.) Scag 52" Stander (2021) 10,000 10,000
C-12 Mwr SKAG 36" (2012) 12,500 12,500
C-13 Mwr SKAG TT 61" #3 (2011) 30,000 30,000
P-07 Mwr SKAG TT #5 (2017) 30,000 30,000
P-08 Mwr SKAG 20,000 20,000
P-09 Mwr (Pks) TORO 5910N (2014) 175,000 175,000
P-10 Mower - TORO Gang (2024) -
DPW: Parks & Cemetery 547,000 300,000 300,000 300,000 300,000
300,000 300,000 300,000 300,000 300,000 300,000 300,000 3,847,000
Gen'l Fence Replacement 50,000 50,000 50,000 50,000 50,000
50,000 50,000 50,000 50,000 50,000 50,000 50,000
600,000
Fencing around play area adjacent to Wood End School 32,000 32,000
DPW Yard Improvements -
Strout Avenue Improvements -
School Site Improvements -
Birch Meadow (parking lots, sidewalks, walkways) 215,000 215,000
Field, Playground and Court Improvements 100,000 100,000 100,000 100,000
100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000
1,200,000
Rock Wall repairs - Memorial Park -
Rock Wall Repair Program 100,000 100,000 100,000 100,000 100,000
100,000 100,000 100,000 100,000 100,000 100,000 100,000 1,200,000
Rock Wall repairs - Laurel Hill -
Rock Wall repairs - Joshua Eaton -
Grove Street Parking Lot Improvements -
Gen'l Parking Lot Improvements 50,000 50,000 50,000 50,000
50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000
600,000
DPW: Roads -
Track Road Bridge #1 -
Track Road Bridge #2 -
Salem Street Crosswalk Improvements -
Salem and Main Traffic Signal Improvements -
Sidewalk/Curb/Ped. Safety 200,000 100,000 160,000 200,000 200,000
200,000 200,000 200,000 200,000 200,000 200,000 200,000 2,260,000
Skim Coating & Crack Seal Patch 100,000 100,000 125,000 150,000 175,000
175,000 200,000 200,000 200,000 200,000 200,000 200,000
2,025,000
West Street - Local shr ($1.3mil)Debt -
Lowell Street $500k + $600k 600,000 600,000
General Fund - various roads 845,000 535,000 600,000 655,000 610,000
600,000 600,000 600,000 650,000 650,000 700,000 700,000
7,745,000
TOTAL GENL FUND VOTED - ROADS 1,745,000 735,000 885,000 1,005,000 985,000
975,000 1,000,000 1,000,000 1,050,000 1,050,000 1,100,000 1,100,000 12,630,000
Grants - various roads 600,000 600,000 600,000 600,000 600,000
600,000 600,000 600,000 600,000 600,000 600,000 600,000 7,200,000
TOTAL ROAD CAPITAL 2,345,000 1,335,000 1,485,000 1,605,000 1,585,000
1,575,000 1,600,000 1,600,000 1,650,000 1,650,000 1,700,000 1,700,000 16,430,000
15
Capital Improvement Plan (CIP)
10/3/2024 16:39 FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY-2035FY-2036FY25-36
Biggest Changes in Capital since April Town MeetingConcerns
Killam ES - any costs not Excluded debt should be identified very soon
Sr. Center -
16
Town of ReadingProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjected
Debt Service ScheduleFY - 2025FY - 2026FY - 2027FY - 2028FY - 2029FY - 2030FY - 2031FY - 2032FY - 2033FY - 2034FY - 2035FY - 2036FY - 2037FY - 2038FY - 2039
10/3/24 16:40
General Fund:4,097,7383,496,1423,369,1343,107,4262,840,0183,418,8852,802,5522,705,5692,026,6861,874,9031,816,8701,244,8371,212,503893,070866,537
Principal3,490,0002,570,6672,565,6672,425,6672,270,6672,825,6672,320,6672,320,6671,720,6671,630,6671,630,6671,116,6671,116,666826,666826,666
Within Levy Limit2,255,0002,570,6672,565,6672,425,6672,270,6672,825,6672,320,6672,320,6671,720,6671,630,6671,630,6671,116,6671,116,666826,666826,666
Excluded Debt1,235,00000000000000000
Interest607,738925,475803,467681,759569,351593,218481,885384,902306,019244,236186,203128,17095,83766,40439,871
Within Levy Limit563,038925,475803,467681,759569,351593,218481,885384,902306,019244,236186,203128,17095,83766,40439,871
Excluded Debt44,70000000000000000
Within Levy Limit 2,818,0383,496,1423,369,1343,107,4262,840,0183,418,8852,802,5522,705,5692,026,6861,874,9031,816,8701,244,8371,212,503893,070866,537
Issued2,818,0382,258,4752,170,5001,947,8251,719,4502,337,3501,760,0501,702,1001,062,250949,500941,200911,500892,500586,400573,200
Approved not issued (ANI)0321,000310,300299,600288,900278,200267,500256,800246,100235,400214,0000000
Not yet approved (NYA)0916,667888,334860,001831,668803,335775,002746,669718,336690,003661,670333,337320,003306,670293,337
Excluded Debt 1,279,70000000000000000
Issued1,279,70000000000000000
Approved not issued (ANI)
Not yet approved (NYA)
Debt Summary
Inside Tax Levy2,818,0383,496,1423,369,1343,107,4262,840,0183,418,8852,802,5522,705,5692,026,6861,874,9031,592,1701,244,8371,212,503893,070866,537
Energy/Safety Improvements1,196,813831,875803,125774,375740,750712,250340,750327,700317,550310,300304,500298,700292,90000
School Buildings1,005,5751,419,5251,363,6001,172,9251,127,7751,769,7251,559,6751,510,100997,400969,200941,000612,800599,600586,400573,200
Town Buildings175,750164,375158,125151,875145,625139,375133,125127,5000000000
Community Improvements439,9001,080,3671,044,2841,008,251825,868797,535769,002740,269711,736595,403346,670333,337320,003306,670293,337
Excluded From Tax Levy1,279,70000000000000000
Energy/Safety Improvements000000000000000
School Buildings000000000000000
Town Buildings1,279,70000000000000000
Community Improvements000000000000000
17
Town of ReadingProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjected
Debt Service ScheduleFY - 2025FY - 2026FY - 2027FY - 2028FY - 2029FY - 2030FY - 2031FY - 2032FY - 2033FY - 2034FY - 2035FY - 2036FY - 2037FY - 2038FY - 2039
10/3/24 16:40
Principal + Interest
Within Levy Limit 2,818,0383,496,1423,369,1343,107,4262,840,0183,418,8852,802,5522,705,5692,026,6861,874,9031,816,8701,244,8371,212,503893,070866,537
Issued2,818,0382,258,4752,170,5001,947,8251,719,4502,337,3501,760,0501,702,1001,062,250949,500941,200911,500892,500586,400573,200
Approved not issued (ANI)0321,000310,300299,600288,900278,200267,500256,800246,100235,400214,0000000
Not yet approved (NYA)0916,667888,334860,001831,668803,335775,002746,669718,336690,003661,670333,337320,003306,670293,337
Bldng Security $4mil/10yr427,000413,000399,000385,000371,000357,000
Bldg Energy Improv I $5m/15yr336,188
Bldg Energy Improv II $5m/15yr433,625418,875404,125389,375369,750355,250340,750327,700317,550310,300304,500298,700292,900
Killam Green Repair
Birch Mdw Green Repair
RMHS Turf II $2.225mil/10yr195,000188,600182,200175,800169,400158,100
RMHS Turf I $3.0mil/10yr346,875334,125321,375303,750291,250278,750266,250255,000
RMHS Fieldhouse $3 mil/10yrs450,000435,000420,000405,000390,000375,000360,000345,000330,000315,000Increase by $800k, $1.7 million already authorized
RMHS/TLT $1.5mil/10yr151,200145,800140,400
RMHS Ret. Wall $500k/5yr
Parker MS Roof $2.7mil/10yr312,500301,000284,625273,375262,125250,875239,625229,500
Coolidge MS Roof $2.9mil/10yr457,000448,300439,600430,900422,200413,500404,800396,100387,400378,700 move out 5yrs
Birch Mdw ES roof $1.5mil/10yr235,000230,500226,000221,500217,000212,500208,000203,500199,000194,500 move out 5yrs
ES Mod. class $1.2 mil/8yr
Barrows/Wd End®
Wood End®
Barrows®
Police Sta Improve $1.5mil/10yr175,750164,375158,125151,875145,625139,375133,125127,500
West St. $1.3 mil135,200
Comm. Sustainability $1.0mil/10yr134,200129,400124,700120,000110,300106,000101,50096,80092,300000000
Ec Dev Dwntn Phase II $4.0mil/15yr0466,667453,334440,001426,668413,335400,002386,669373,336360,003346,670333,337320,003306,670293,337$5m bond bill
00000000
Haven St. Streetscape $750k/5yr170,500163,300155,950148,6500000000000 0
Bch Mdow Phase II $2.14mil/10yr0321,000310,300299,600288,900278,200267,500256,800246,100235,400
Excluded Debt 1,279,70000000000000000
Issued1,279,70000000000000000
Approved not issued (ANI)
Not yet approved (NYA)
RMHS®
Barrows/Wd End®
Wood End®
Library Project $10+mil1,040,000
Library Project $2.115mil239,700
18
Town of ReadingProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjected
Debt Service ScheduleFY - 2025FY - 2026FY - 2027FY - 2028FY - 2029FY - 2030FY - 2031FY - 2032FY - 2033FY - 2034FY - 2035FY - 2036FY - 2037FY - 2038FY - 2039
10/3/24 16:40
Principal
Within Levy Limit 2,255,0002,570,6672,565,6672,425,6672,270,6672,825,6672,320,6672,320,6671,720,6671,630,6671,630,6671,116,6671,116,666826,666826,666
Issued2,255,0001,790,0001,785,0001,645,0001,490,0002,045,0001,540,0001,540,000940,000850,000850,000850,000850,000560,000560,000
Approved not issued (ANI)0214,000214,000214,000214,000214,000214,000214,000214,000214,000214,0000000
Not yet approved (NYA)0566,667566,667566,667566,667566,667566,667566,667566,667566,667566,667266,667266,666266,666266,666
Bldng Security $4mil/10yr350,000350,000350,000350,000350,000350,000
Bldg Energy Improv I $5m/15yr330,000
Bldg Energy Improv II $5m/15yr295,000295,000295,000295,000290,000290,000290,000290,000290,000290,000290,000290,000290,000 4,377,300
Killam Green Repair
Birch Mdw Green Repair
RMHS Turf II $2.225mil/10yr160,000160,000160,000160,000160,000155,000
RMHS Turf I $3.0mil/10yr255,000255,000255,000250,000250,000250,000250,000250,000 2,521,300
RMHS Fieldhouse $3 mil/10yrs300,000300,000300,000300,000300,000300,000300,000300,000300,000300,000Move up 1 yr
RMHS/TLT $1.5mil/10yr 135,000 135,000 135,000
RMHS Ret. Wall $500k/5yr
Parker MS Roof $2.7mil/10yr230,000230,000225,000225,000225,000225,000225,000225,000 2,270,000
Coolidge MS Roof $3.7mil/10yr370,000370,000370,000370,000370,000370,000370,000370,000370,000370,0003,700,000
Birch Mdw ES roof $1.9mil/10yr190,000190,000190,000190,000190,000190,000190,000190,000190,000190,0001,900,000
ES Mod. class $1.2 mil/8yr
Barrows/Wd End®
Wood End®
Barrows®
Police Sta Improve $1.5mil/10yr130,000125,000125,000125,000125,000125,000125,000125,000 1,261,400
West St. $1.3 mil130,000
Comm. Sustainability $925k/10yr95,00095,00095,00095,00090,00090,00090,00090,00090,000
Ec Dev Dwntn II $4.0mil/15yr266,667266,667266,667266,667266,667266,667266,667266,667266,667266,667266,667266,666266,666266,6664,000,000
Haven St. Streetscape $730k/5yr145,000145,000145,000145,000 730,000
Bch Mdow Phase II $2.14mil/10yr214,000214,000214,000214,000214,000214,000214,000214,000214,000 214,000
Excluded Debt 1,235,00000000000000000
Issued1,235,00000000000000000
Approved not issued (ANI)
Not yet approved (NYA)
RMHS®
Barrows/Wd End®
Wood End®
Library Project $10+mil1,000,000
Library Project $2.115mil235,000
19
Town of ReadingProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjected
Debt Service ScheduleFY - 2025FY - 2026FY - 2027FY - 2028FY - 2029FY - 2030FY - 2031FY - 2032FY - 2033FY - 2034FY - 2035FY - 2036FY - 2037FY - 2038FY - 2039
10/3/24 16:40
Interest
Within Levy Limit 563,038925,475803,467681,759569,351593,218481,885384,902306,019244,236186,203128,17095,83766,40439,871
Issued563,038468,475385,500302,825229,450292,350220,050162,100122,25099,50091,20061,50042,50026,40013,200
Approved not issued (ANI)0107,00096,30085,60074,90064,20053,50042,80032,10021,400
Not yet approved (NYA)0350,000321,667293,334265,001236,668208,335180,002151,669123,33695,00366,67053,33740,00426,6712,411,693
Bldng Security $4mil/10yr77,00063,00049,00035,00021,0007,000 448,400
Bldg Energy Improv I $5m/15yr6,188 54,656
Bldg Energy Improv II $5m/15yr138,625123,875109,12594,37579,75065,25050,75037,70027,55020,30014,5008,7002,900 1,131,367
Killam Green Repair
Birch Mdw Green Repair
RMHS Turf II $2.225mil/10yr35,00028,60022,20015,8009,4003,100
RMHS Turf I $3.0mil/10yr91,87579,12566,37553,75041,25028,75016,2505,000 630,025
RMHS Fieldhouse $3 mil/10yrs150,000135,000120,000105,00090,00075,00060,00045,00030,00015,000
RMHS/TLT $1.5mil/10yr 16,200 10,800 5,400
RMHS Ret. Wall $500k/5yr
Parker MS Roof $2.7mil/10yr82,50071,00059,62548,37537,12525,87514,6254,500 566,302
Coolidge MS Roof $2.9mil/10yr87,00078,30069,60060,90052,20043,50034,80026,10017,4008,700478,500
Birch Mdw ES roof $1.5mil/10yr45,00040,50036,00031,50027,00022,50018,00013,5009,0004,500247,500
ES Mod. class $1.2 mil/8yr 12,000
Barrows/Wd End®
Wood End®
Barrows®
Police Sta Improve $1.5mil/10yr45,75039,37533,12526,87520,62514,3758,1252,500 314,539
West St. $1.3 mil5,200
Comm. Sustainability $925k/10yr39,20034,40029,70025,00020,30016,00011,5006,8002,300
Haven St. Streetscape $730k/5yr 25,50018,30010,9503,65088,150
Ec Dev Dwntn II $4.0mil/20yr200,000186,667173,334160,001146,668133,335120,002106,66993,33680,00366,67053,33740,00426,6711,600,026
Bch Mdow Phase II $2.14mil/10yr107,00096,30085,60074,90064,20053,50042,80032,10021,40010,700
Excluded Debt 44,70000000000000000
Issued44,70000000000000000
Approved not issued (ANI)
Not yet approved (NYA)
Killam
Community Center
Wood End®
Library Project $10+mil40,000
Library Project $2.115mil4,700
20
COMMONWEALTH OF MASSACHUSETTS
Middlesex, ss. Officer's Return, Town of Reading:
By virtue of this Warrant, I ______________________________, on ____________, 2024
notified and warned the inhabitants of the Town of Reading, qualified to vote on Town affairs, to
meet at the place and at the time specified by posting attested copies of this SubsequentTown
Meeting Warrantin the following public places within the Town of Reading:
Precinct 1J. Warren Killam School, 333 Charles Street
Precinct 2 Reading Police Station, 15 Union Street
Precinct 3Reading Municipal Light Department, 230 Ash Street
Precinct 4Joshua Eaton School, 365 Summer Avenue
Precinct 5Reading Public Library, 64 Middlesex Avenue
Precinct 6Barrows School, 16 Edgemont Avenue
Precinct 7Birch Meadow School, 27 Arthur B Lord Drive
Precinct 8Wood End School, 85 Sunset Rock Lane
Town Hall, 16 Lowell Street
The date of posting being not less than fourteen (14) days prior to Tuesday, November12, 2024,
the date set for Town Meeting in this Warrant.
_____________________________________________
Constable
A true copy Attest:
_____________________________________________
Laura Gemme, Town Clerk
21
TOWN WARRANT
COMMONWEALTH OF MASSACHUSETTS
Middlesex, ss.
To any of the Constables of the Town of Reading, Greetings:
In the name of the Commonwealth of Massachusetts, you are hereby required to notify and warn
the inhabitants of the Town of Reading, qualified to vote in the Local Elections and Town affairs,
to meet at the Reading Memorial High School Performing Arts Center, 62 Oakland Road, in said
Reading, on Tuesday,November 12, 2024at seven-
and place the following articles are to be acted upon and determined exclusively by Town Meeting
Members in accordance with the provisions of the Reading Home Rule Charter.
ARTICLE 1To hear and act on the reports of the Select Board, School Committee,
Library Trustees, Municipal Light Board, Finance Committee, Bylaw Committee, Town Manager,
Town Accountant and any other Town Official, Board or Committee.
Select Board
Background:This article appears on the Warrant for all Town Meetings. At this Subsequent
TownMeeting, the following reports are anticipated:
-TBD
ARTICLE 2To choose all other necessary Town Officers and Boards or Committees
and determine what instructions shall be given to Town Officers and Boards or Committees, and
to see what sum the Town will vote to appropriate by borrowing or transfer from available funds,
or otherwise, for the purpose of funding Town Officers and Boards or Committees to carry out the
instructions given to them, or take any other action with respect thereto.
Select Board
Background:This Article appears on the Warrant of all Town Meetings. There are no known
Instructional Motions at this time. The Town Moderator requires that all proposed Instructional
Motions be submitted to the Town Clerk prior to Town Meeting so that Town Meeting Members
may be "warned"as to the subject of an Instructional Motion in advance of the motion being made.
Instructional Motions are normally held until the end of all other business at Town Meeting.
22
ARTICLE 3To see if the Town will vote to amend the FY 2025-35Capital
Improvements Program as provided for in Section 7-7 of the Reading Home Rule Charter and as
previously amended, or take any other action with respect thereto.
Select Board
Background:This Article is included in every Town Meeting Warrant. The Reading General
Bylaw (section 6.1.3) states "No funds may be appropriated for any capital item unless such
item is included in the Capital Improvements Program, and is scheduled for funding in the Fiscal
Year in which the appropriation is to be made."Bond ratings agencies also want to ensure that
changes to a long-term Capital Improvements Program (CIP) are adequately described.
The following changes are proposed to the FY2025FY2035CIP (current year plus ten years):
General Fund
FY25:+$752,000 net changes
-$ 85,000Bobcat UV56 (Facilities)
+$40,000 Parking Enforcement Vehicle (2013)
+$30,000 Highway pickup #18 (2006) (increase from $80k to $110K)
-$30,000 Blower unit for loader (reduce price from $250k to $220k)
+$420,000 Road paving (increase from $425k to $845k)
+$100,000 Sidewalk work (increase from $100k to $200k)
+$ 32,000 Fencing around play area adjacent to Wood End School (new)
+$245,000 BM Phase II Design (debt issuance delayed savings used toward design)
FY26:+$ 15,000 net changes
-$ 55,000 Carpenters Cut-away Van(move out 1 year and increase to $60k)
-$ 40,000 Doors and Windows at schools (move out 1 year)
+$ 15,000 Wood End Water Heater
-$ 10,000 Library equipment (not needed)
+$ 20,000 ALS Defibrillator Monitor (increase from $50k to $70k)
-$ 65,000 Small Dump Truck #7 (2012) (move out 1 year and increase from $65k to $120k)
+$ 35,000 Highway Truck #18 Sander (2006) (increase from $240k to $275k)
+$115,000 Road paving (increase from $425k to $540k)
FY27+
Various other changes made
Enterprise Funds Water
FY25:+$560,000 net changes
+$560,000 Water Main Replacement Sanborn St
FY26: +$600,000 net changes
+$600,000Water Main Replacement Hopkins St
FY27+
Various changes made
23
Enterprise Funds Sewer
FY25:+$ net changes
FY26: +$40,000 net changes
+$40,000Sewer pickup #17 (increase price from $60k to $100k)
FY27+
Various changes made
Enterprise Funds Storm Water
FY25: net changes
FY26: +$ net changes
FY27+
Various changes made
Finance Committee Report:The Finance Committee recommends the proposed amendments
to the FY 2025 FY 2035Capital Improvements Program by a vote of X-Xat their meeting on
October 9, 2024. Placing items in the Capital Improvement Program is a prerequisite first step
but in itself does not authorize spending funds toward these items.
Bylaw Committee Report:No Report.
ARTICLE 4To see if the Town will vote to amend the Town'sOperating Budget for the
Fiscal Year commencing July 1, 2024, as adopted under Article 12of the Annual Town Meeting
ofApril 29, 2024; and to see if the Town will vote to raise and appropriate, borrow or transfer from
available funds, or otherwise provide a sum or sums of money to be added to the amounts
appropriated under said Article, as amended, for the operation of the Town and its government,
or take any other action with respect thereto.
Finance Committee
Background:
General Fund Wages and Expenses
Account LineDescriptionDecreaseIncrease
C99 -CapitalAs described in Article 3$752,000
Delayed Borrowing BM PHII& Downtown Ph II
D-99-Debt721,000
NERMVS +$10k
E99-Voc. Ed$10,000
F99FINCOMReplenish for additional funds needed for DPW $135,000
trucks $135k
G91 Admin. Attrition Savings -$7.5k$7,500
Services Wages
G-92 Admin Property Casualty Insurance -$25k$25,000
Services
Expenses
24
G91a Extra OT for migration project$10,000
Technology
Wages
G-92a Technology Upgrades$25,000
Technology
Expenses
H91 Public Attrition Savings -$7.5k$7,500
Services Wages
H92 Public Regional Housing Expense +$30k$10,000
Services -$20k
Expenses
I91 Finance Make temp part time position full time permanent $60,000
Wages+$60k
J91 Public Retirement/Attrition savings -$35k$35,000
Safety Wages
K-95 RubbishCompost Collection at Schools +$50k$50,000
M91-Core Retirement savings -$10k$10,000
Facilities
Wages
Subtotals$806,000$1,052,000
Net Operating Expenses$246,000
From Free Cash$246,000
Enterprise Funds
Account LineDescriptionDecreaseIncrease
W99 Water EFWater Main Replacement Sanborn St$560,000
Subtotals-$560,000
FromWater EF Reserves560,000
Finance Committee Report:At their meeting on October 9, 2024, the Finance Committee voted
X-Xto recommend this Article to Town Meeting.
Bylaw Committee Report:No Report.
ARTICLE 5To see if the Town will vote to raise and appropriate, transfer from available
funds, borrowor otherwise provide a sum or sums of money to pay bills remaining unpaid from
prior fiscal years for goods and services actually rendered to the Town, or take any other action
with respect thereto.
Select Board
Background:There are no prior years'bills, this Article is expected to be tabled.
Finance Committee Report:No Report.
25
Bylaw Committee Report:No Report.
ARTICLE 6To see if the Town will vote to transferfunds received from the
Commonwealth of Massachusetts in payment for development within the Town's 40R Smart
Growth Zoning Districts from Free Cash into the Smart Growth Stabilization Fund; or take any
other action with respect thereto.
Select Board
Background:The Town of Reading received $39,000 from the State for 40R Smart Growth
projects. These funds were received May 20, 2024, and closed to free cash. This article requests
these funds being transferred to the Smart Growth Stabilization Fund.
Finance Committee Report:At their meeting on October 9, 2024, the Finance Committee voted
X-Xto recommend this Article to Town Meeting.
Bylaw Committee Report:No Report.
ARTICLE 7To see if the Town will voteto accept the fourth paragraph of
Massachusetts General Laws Chapter 40, Section 5B, which allows the dedication, without further
appropriation, of all, or a percentage not less than 25 percent, of particular fees, charges or
receipts to a stabilization fund established under Massachusetts General Laws Chapter 40,
Section 5B, to be effective for the fiscal year beginning on July 1, 2025, and vote to dedicate all
of the payments received from the Commonwealth pursuant to Chapter 40R of the Massachusetts
General
beginning on July 1, 2025;or take any other action relative thereto.
Select Board
Background:In the past, the Town was required to present an article to Town Meeting each
year to transfer funds received from the Commonwealth of Massachusetts in payment for
development within the Town's 40R Smart Growth Zoning Districts into the Smart Growth
Stabilization Fund. Accepting Massachusetts General Law Chapter 40, Section 5Bwill allow all
of the payments received from the Commonwealth pursuant to Chapter 40R of the Massachusetts
2025.
Finance Committee Report:At their meeting on October 9, 2024, the Finance Committee voted
X-Xto recommend this Article to Town Meeting.
Bylaw Committee Report:At their meeting \[Date\], the Bylaw Committee voted X-Xto
recommend this Article to Town Meeting.
26
ARTICLE 8To see if the Town will vote to transfer funds received from Opioid
Settlements from Free Cash to the Opioid Settlement Receipts Special Reserve Fund; or take
any other action with respect thereto.
Select Board
Background:
Massachusetts has participated in nationwide financial settlements with several companies as
part of the historic legal efforts to demand abatement of the harms caused by the opioid epidemic.
These settlements combined will bring over $900 million into Massachusetts for substance use
prevention, harm reduction, treatment, and recovery support.
These funds began to flow into municipalities in fiscal 2023 and are required to be used for
substance abuse programs; however, there was no legislation at the time allowing municipalities
to set up a special revenue fund for Opioid Settlement Receipts andsubsequent programming
expenses. Due to the absence of this legislation, the Town was advised by DLS to record the
fiscal 2023 Opioid Settlement revenue as General Fund revenue and allow these funds to close
into free cash at the end of the fiscal year.
On December 4th, 2023, Governor Healey signed Chapter 77 of the Acts of 2023. Section 9 of
the law provides, in part, for an exception to the legal requirement that all receipts are to be
recorded as general fund revenue per G.L. c. 44, § 53 for Opioid Settlement Receipts.
Municipalities now have the option to account for these receipts in a special revenue fund. The
Division of Local Services (DLS)released theOpioid Settlement
Receipts Bulletinto provide guidance to municipalities on howthe legislation will impact fiscal
management of the opioid abatement funds.
The guidance provided stated that any opioid settlement funds received in fiscal 2024 or later
could be transferred to new Opioid Settlement Receipts Special Reserve Fund per the new
exception. Any opioid settlement funds received in fiscal 2023 that has become part of free cash
would require a vote of Town Meeting to move the funds from free cash to the Opioid Settlement
Receipts Special Reserve Fund.
This article requests to transfer the fiscal 2023 opioid receipts of $81,157 from free cash to the
Opioid Settlement Special Reserve fund.
Finance Committee Report:At their meeting on October 9, 2024, the Finance Committee voted
X-Xto recommend this Article to Town Meeting.
Bylaw Committee Report:No Report.
ARTICLE 9To see if the Town will vote to raise and appropriate, borrow, transfer from
available funds or otherwise provide a sum or sums of money to pay the costs ofthe Haven Street
Infrastructure Project, including replacement of roadway, sidewalks, and related improvements,
including the payment of any and all other costs incidental and related thereto,said sum to be
expended under the direction of the Town Manager;and, for the purpose of meeting such
appropriation, authorize the Town Treasurer, with the approval of the Select Board, to borrow said
sum in accordance with G.L. c. 44, §7(1), or any other enabling authority,or take any other action
with respect thereto.
27
Select Board
Background:Since the onset of the Downtown Smart Growth District, the downtown has
welcomed multiple redevelopment projects. One area where the Town has seen significant
development has been Haven Street. In order to accommodate this growth, the Town has
invested in an extensive utility improvement plan. Additionally, the need has risen to revitalize the
Haven Street streetscape for better access for both vehicles and pedestrians. The goal would
also be to activate the street to help improve economic growth and activity through improved
lighting and amenities to support local businesses. The project would focus on Haven Street (Main
St. to High St.) and High Street (Washington St. Woburn St.), with potential improvements to side
street approaches and adjacent parking lots as funding allows.
In 2019, the Town hired Beta Group, Inc. to develop a 25% conceptual plan for Haven Street.
This conceptual plan included a full topographic survey, traffic analysis, and the 25% design. Beta
Group was instrumental in the Main Street improvements and wasasked to extend their design
and input from Main Street to the Haven Street corridor. During the initial phase of the design,
staff input was compiled and incorporated into a functioning conceptual plan. At the November
2022 Subsequent Town Meeting, members voted to approve $750,000 in design funds.
Subsequently, Beta Group was tasked with finalizing the design and bid documents in addition to
assisting the Town in pursuit of a Mass Works grant. In September 2023, the State awarded
Reading $2.6 million from the Mass Works Infrastructure Program to support construction of this
Project. In 2024, Beta Group provided a revised engineering budget which estimated the
reconstruction of Haven and High Street to be approximately $8M. Beta Group also extended
costs for the adjacent streets and the Town owned Upper Haven parking lot for future phases.
28
To support the projects total cost the Town will be looking to allocate unexpended funds from
various accounts and previously completed projects to help supplement the overall project cost.
These funds would come from the following sources: Smart Growth Stabilization ($2,34,726.18),
Sustainability Account ($400,000.00), remaining funds from the West Street TIP project
($310,895.35) and Downtown Watermain Improvements (minimum $500,000.00 with a maximum
of $900,000.00 depending on paving costs). Considering the known funds available the Town
expects to borrow no more than $4M for the total project. Furthermore, there is potential to reduce
borrowing as the Town is hopeful of receiving a potential federal earmark of $2.5M that is currently
on the House floor. The Town also continues to pursue additional grant opportunities as they
present themselves. Below is a breakdown of the funding sources:
MassWorks Grant$2,600,000.00
Town Funds$1,445,621.53±
Borrowing (Maximum)$3,954,378.47
Total Project Cost$8,000,000.00
The proposed article is requesting Town Meeting to authorize a total project of $8M. This is
expected to cover construction cost for High Street (Washington St. to Woburn St.) and Haven
Street (Main St. to High St.).
Finance Committee Report:At their meeting on October 9, 2024, the Finance Committee voted
X-Xto recommend this Article to Town Meeting.
Bylaw Committee Report:No Report.
ARTICLE 10To see if the Town will vote to adoptamandatory charge per kilowatt-hour
electricity consumerslocated within the Town of Reading
by acceptingthe provisions ofG.L. c. 25, § 20(c),and authorize the Select Board to executeall
documentsnecessary to qualify the Town as a Green Community under G.L. c.25A, § 10,
including the Renewable energy Trust Fund Membership Agreement; or take any other action
related thereto.
Select Board
Background:295communities have been designated as Green Communities across
Massachusetts.
5 criteria that a municipality must meet to qualify for designation as a Green Community
CriteriaReading's Status
1Adopt as-of-right sitingAchieved
2Adopt expedited permitting processAchieved
3Create an Energy Reduction Plan to reduce energy Adopted and funded at Nov
use by 20% in 5 years2021 Town Meeting
4Adopt a fuel-efficient vehicle purchase policyAdopted June 2021
5Adopt the Energy Stretch CodeAdopted at Nov 2020 Town
Meeting
Effective April 1, 2021
29
In 2021,the Town of Reading submitted its application to be designated a Green Community
showing that we meet these criteria.
But there is one more requirement. Green Communities must contribute to the Massachusetts
Renewable Energy Trust Fund.To do this, all electricity customers must pay a charge of
$0.0005/kilowatt-hourcollected through their electric bills (approximately $3.00 to $4.00 per year
for the average home).
This charge is added to the bills of customers of Investor-Owned Utilities (e.g., Eversource,
National Grid) by state law. However, customers of Municipal Light Plants (like RMLD) are not
automatically assessed this charge. So, it must be adopted and added by the MLP. RMLD cannot
adopt this charge for Reading customers unless Reading Town Meeting approves it.
If approved by Town Meeting, and after execution of an agreement with MA CEC and the Select
Board, the charge will be calculated and included in our electric bills from RMLD.
With the implementation of the renewable energy surcharge for Town participation in Green
Communities, we expect the average residential customer to pay an additional $0.41/month or
$4.92/year, paid to MA CEC.Our local electric utility, RMLD, will collectthe surcharge each month
as part of monthly billing and pass it through to MassCEC.The surcharge is not a charge for
RMLD electricity services.
Where does our money go?
All revenues generated by the mandatory charge are deposited into the Massachusetts
Renewable Energy Trust Fund which is managed by the Massachusetts Clean Energy Center.
The funds are used (i) to promote the increased availability, use and affordability of renewable
energy; (ii) to improve existing renewable energy projects and facilities; and (iii) to foster the
formation, growth, expansion and retention within the Commonwealth of renewable energy and
related enterprises, institutions and projects. Much of it comes back to us in the form of grants,
contracts, loans, investments, or rebates.
What do we get back?
In 2021, Green Communities awarded grants totaling $16.2M to 123 communities.
Upon designation as a Green Community, Reading will receive a designation grant estimated
between $150,000 and $190,000. Then we can apply for additional grants annually. Grants fund
energy efficiency initiatives and renewable energy projects.
17 of Reading's 23 Peer Communities have been designated (bold) as Green Communities:
Andover,Bedford,Belmont,Burlington,Canton, Danvers, Dedham, Lynnfield, Mansfield,
Marshfield,Milton,Natick, North Reading, North Andover,Shrewsbury,Stoneham,
Tewksbury, Wakefield, Walpole,Westborough,Westford, Wilmington, and Winchester.
These communities have received on average $125,000 in grant funding annually.
Grant
Designation Years
MunicipalityFunding to
YearDesignated
Date
30
2010Andover$1,117,282 14
2010Dedham$634,501 14
2010Milton$1,162,739 14
2010Natick$2,195,952 14
2010Winchester$1,693,873 14
2011Bedford$1,097,306 13
2011Tewksbury$1,310,471 13
2013Westford$1,364,223 11
2014Belmont$401,850 10
2017Canton$650,810 7
2017Marshfield$1,041,845 7
2017North Andover$860,922 7
2017Stoneham$1,215,141 7
2018Shrewsbury$699,317 6
2018Westborough$541,797 6
2020Burlington$705,397 4
2021Walpole$342,135 3
Finance Committee Report:No Report.
Bylaw Committee Report:At their meeting \[Date\], the Bylaw Committee voted X-Xto
recommend this Article to Town Meeting.
ARTICLE 11To see if the Town will vote to amendSection 8.8.1.3 of the General
Bylaws, Effective Voice Control,by deleting the section and inserting, in place thereof, the
following:
8.8.1.3Effective Voice Control
called by its handler, and (iv) the handler is carrying a leash per dog. Aggressive
behavior is any behavior that would cause a reasonable person to believe the dog
poses an unjustified imminent threat of physical injury to a person or another dog,
including but not limited to jumping on, repeatedly barking at, or approaching any
personwithout their consent.
Or take any other action related thereto.
Town Forest Committee/Board of Health
Background:Existing Animal Control An animal shall be deemed to
is carrying a leash, and the animal refrains from illegal activities.
specific requirements for the control of dogs in the Town Forest. The need for this proposed
31
change is the result of complaints of aggressive behavior including dog bites of people and other
dogs, jumping on and the sustained barking at visitors to the Town Forest. The Town Forest is a
multi-use resource in which all members of the public should feel safe.
Finance Committee Report:No Report.
Bylaw Committee Report:At their meeting \[Date\], the Bylaw Committee voted X-Xto
recommend this Article to Town Meeting.
ARTICLE 12To see if the Town will vote to amend Section 8.8.3.2 of the General Bylaws
by (1) inserting a new Section 8.8.3.2.3, as follows:
8.8.3.2.3Town Forest
The maximum number of off-leash dogs shall not exceed two per
handler in the Town Forest. Any dog that does not remain under
effective voice control, as defined in Section 8.8.1.3, must be placed on
a leash or removed from the Town Forest immediately. Dog waste must
be removed in accordance with Section 8.8.3.3. Dogs must be leashed
when entering or exiting the Town Forest. Visitors who do not abide by
these rules may be required to leave the Town Forest, in addition to
any enforcement action provided for under G. L. c.40, §21D and
Section 1.8 of these Bylaws.
and (2) renumbering the remaining sectionsaccordingly; or take any other action with respect
thereto.
Town Forest Committee/Board of Health
Background:The current Animal Control section of the General Bylaw allows dogs to be off
leash in the Town Forest if they are under effective voice control. There is currently no limit on
the number of off leash dogs per handler. Commercial dog walkers regularly bring in eight or more
dogs off leash. Frequent conflicts between commercial dog walkers and the public have been
reported including attacks by uncontrolled dogs on people and other dogs. Most communities
around Reading require dogs to be leashed in public except in a dog park. This proposed change
would still permit dogs to be off leash in the Town Forest, but it would limit the number of off leash
Finance Committee Report:No Report.
Bylaw Committee Report:At their meeting \[Date\], the Bylaw Committee voted X-Xto
recommend this Article to Town Meeting.
ARTICLE 13To see if the Town will vote to raise and appropriate, transfer from available
funds, borrow or otherwise provide$150,000 or any othersum or sums of money for the Town
Forest thinning project, which will include $50,000 forPhase 4 of the dead tree removal program
and$100,000 forPhase 5 of the invasive plants control program;or take any other action with
respect thereto.
32
Town Forest Committee
Background:This request is for funding to continue the removal of dead trees and for the control
of invasive plants in the Town Forest. Red pine trees were planted starting in the 1930s. They are
native to latitudes north of Massachusetts. The warming climate has stressed the red pines,
making them vulnerable to insects and fungus which kill the trees. These dead trees need to be
removed before they fall on visitors to the Town Forest. The dead trees are also a fire risk. The
three previous projects removed dead trees from 13.8 acres. This fourth project will remove dead
trees from an additional 5.1 acres and will allow for the reopening of a popular trail that is currently
closed due to the presence of dead trees. This is anticipated to be the last major phase of dead
tree removal. Removal of isolated dead trees may be needed in the future if they pose a threat to
the public.
Finance Committee Report:At their meeting on October 9, 2024, the Finance Committee voted
X-Xto recommend this Article to Town Meeting.
Bylaw Committee Report:No Report.
ARTICLE 14To see if the Town will vote pursuant to G.L. c. 40, § 15A, to transfer care,
custody, management and control of the property known as Grove Street Lot 5, Assessor Map 44
Weston & Sampson Engineers, Inc., date January 23, 2023, as on file with the Town Clerk, to the
Reading Conservation Commission for the sole purpose of passive recreation and open space
management, including the installation, maintenance, and repair of a passive trail network with
associated signage; provided, however, that Reading Department of Public Works shall have the
right to replace, repair, maintain, and make necessary improvements to the existing parking area
on the property, as shown on said plan; or take any other action with respect thereto.
Select Board
Background:In November 2021, the Town Meeting approved the purchase of371 Grove St.
also known asLot 5 on Grove Street from Meadow Brook Golf Course. The purchase was made
to create a municipal parking lot that would be used by residents visiting the Town Forest. Since
that purchase, the Town has worked with an engineering firm, Weston & Sampson, to develop
the design of said parking lot and to obtain all the required permits. Specifically, given the
proximity to protected habitat land, the Town had to obtain approval from the Massachusetts
Division of Fisheries & Wildlife, Natural Heritage & Endangered Species Program, to build this
parking lot. Finally, the Town worked with our local Conservation Commission to obtain approval
for this parking lot.
371 Grove St. also known asLot 5was completed and anopening ceremony was held on June
13, 2024. With the opening out-of-the-way there was one final administrative step needed, as part
of the Massachusetts Division of Fisheries & Wildlife, Natural Heritage & Endangered Species
Programapproval the Town agreed to transfer the property to the Conservation Commission to
receive permanent protection under Article 97. This protectionwas a key component in the T
approvalofNatural Heritage. By transferring the land to the conservation commission, it will
receive Article 97 protection ensuringno more development will take place on this property
outside of the existing maintenance needed to take care of the parking lot.
33
Benefits of this proposal
Ratifies commitment to protect the land in perpetuity
Protects the wildlife corridor between Grove Street and the Town Forest
Helps to protect the wetland and tributary streams associated with the Ipswich River an
important regional resource
Adds land to the open space inventory
On September17, 2024the Reading Town Forest Committee voted unanimously in favor of
supportingthis transfer to the Conservation Commission.
On September 25, 2024 the Conservation Commission voted unanimously in favor of accepting
the land transfer.
The request to Town Meeting is to transfer care, custody, management,and control of the
property at 371 Grove Street alsoknown as Grove Street Lot 5,to the Reading Conservation
Commission.
Finance Committee Report:No Report.
Bylaw Committee Report:No Report.
ARTICLE15To see if the Town will vote to r aise and appropriate, borrow, transfer
from available funds, or otherwise provide a sum or sums of money for the purposes of
making improvements, including full replacement of the floor at the Reading Memorial
High School Field House, including the costs of installation,construction,consulting
services, audits, plans, documents, cost estimates, bidding services and all related
expenses incidental thereto and necessary in connection therewith, said sum to be
expended by and under the direction of the Town Manager; and, for the purpose of
meeting such appropriation, authorize the Town Treasurer, with the approval of the Select
Board, to borrow said sum in accordance with G.L. c. 44, §7(1), or any other enabling
authority,or take any other action with respect thereto.
Select Board
Background:
At April 2024 Town Meeting, debt was authorized at $1.7 million to replace the field house floor
and bleachers and Reading Memorial High School. The authorization was required to be done
that evening as there was also a vote to move some unused funding from Parker Roof Capital
Project Fund. For fieldhouse floor and bleachers project to qualify for a transfer from this fund,
bond counsel advised that a debt authorization had to approved for the project prior or at the
Town Meeting where the transfer from theParker Roof Capital Project fund was approved. When
the debt authorization was presented for the field house floor and bleachers, it was mentioned
during the presentation that several options were being considered and if an option other than
exact replacement of the existing floor was chosen as the best option another authorization would
need to be done.
34
Gienapp Architects explored different options to replace the flooring at the Reading Memorial
High School Field House. All options included replacing the track with a similar material, rubber,
so the differences came down to the replacement material at thecompetition court. The three
materials reviewed were:
1. Rubber (In-kind Replacement)
2. Lumaflex (Synthetic and real wood composite material)
3. Maple Hardwood
In reviewing the advantages and disadvantages of each, it became apparent that the material of
choice is Maple Hardwood. This is for several reasons:
1. Maple Hardwood has been used as a playing surface for many years and is the preferred
material in the athletic world.
2. Maple Hardwood provides a softer surface than a rubber material directly on the slab.
3. Maple hardwood is durable & stable.
4. We were able to review another local flooring layout that utilized a rubber track surrounding a
hardwood center court, which that owner was very satisfied with.
5. Maple Hardwood is more available than Lumaflex and more local contractors have
experience installing it.
The main disadvantage to the maple hardwood is the cost. However, it is not exponentially more
expensive than Lumaflex. We believe the benefit to cost ratio makes it the best option.
The rubber flooring that will replace the areas outside the competition court will increase in
thickness slightly. Currently there is a ~3mm rubber surface the flooring product that will be the
basis of design for the new floor has ranges from 4mm-8mm in thickness.
Finance Committee Report:At their meeting on October 9, 2024, the Finance Committee voted
X-Xto recommend this Article to Town Meeting.
Bylaw Committee Report:No Report.
ARTICLE 16
the purpose of achieving compliance with G.L. c. 40A, §3A, the MBTA Communities Act, by
amending Zoning Bylaw provisions relating to multi-family housing and business uses, and
altering the boundaries of existing zoning districts or establishing new districts, including
amendments or insertions within Sections 2, 3, 4, 5, 6, 9, and 10, Tables 5.3.1, 6.3, 9.1.1.7 and
10.5.6, and Appendix C found in the Zoning Bylaw and as generally drafted and described in the
materials from the September 19, 2024 Community Planning and Development Commission
-D (Main St) + DSGD 40R, Proposed Bylaw Amendments, Track
Changes Version, 9-19-
such documents on file with the Town Clerk and available online at
https://www.readingma.gov/826/MBTA-Communities-3A-Process, or take any other action with
respect thereto.
Community Planning and Development Commission
35
Background:Article 16is aseries ofzoning amendmentsthat would seek to bring the Town of
Reading into compliance with Massachusetts General Law Section 3A otherwise known as the
MBTA Communities Act.
After nearly two years of public engagement, discussions, workshops, and reports, this article
focuses on amendments around the geographies of Main Street and the Downtown District.
The Main Street amendments will take existing pieces of the Business-A Zoning District,
specifically aseries of commercial parcels on North Main Street and the upper portion of South
Main Street (from Washington Street to Summer Avenue) and convert them to the newly titled
Business-D Zoning District. The Business-D Zoning District will provide new minimum controls for
Multi-family development, amend some of the existing Mixed-Use regulations, and provide an
Affordable Housing (Inclusionary Zoning) section.Multi-family only structures are limited to 3-
stories and 25-units-per-acre on the lot, a density substantially similar to the average development
in the corridor built to date. Map changes include the retitlingof areas from Business-Ato
Business-D but also the -of some of the Main Street commercial lotsthat currently
reside in Business-A and the S-15 and A-40 districts.
Section 10.5of the Zoning Bylaw, Downtown Smart Growth District (DSGD) 40R Overlay,is also
sought for amendment.The proposal is to increase the by-right density allowances from the
existing 20-units-per-acre to 35-units-per-acre.A total of nine 40R projects have been approved,
with only one beingbuiltunder the proposed 35-units-per-acredensity. This is sought to help
facilitate development without overreaching on past approvals. Other amendments include adding
a minimum Open Space requirement, adjusting parking from a per-bedroom rate to a per-unit rate
(1.5 parking spaces per unit proposed) andamendments tothe Density Tier Schedule to reflect
the new densities. There are no map changes associated with the Downtown 40R District.
MBTA Communities obligations
Finance Committee Report:No Report.
Bylaw Committee Report:No Report.
ARTICLE 17
the purpose of achieving compliance with G.L. c. 40A, §3A, the MBTA Communities Act, by
amending Zoning Bylaw provisions relating to multi-family housing uses, and altering the
boundaries of existing zoning districts or establishing new districts, including amendments or
insertions within Sections 2, 3, 4, 5, 6, 9, and 10, Tables 5.3.1, 6.3, 9.1.1.7 and 10.5.6, and
Appendix C found in the Zoning Bylaw and as generally drafted and described in the materials
from the September 19, 2024 Community Planning and Development Commission public hearing
-80 + DSGD 40R, Proposed Bylaw Amendments, Track Changes Version, 9-
19--80 Expansion (Existing Developments) Conce
file with the Town Clerk and available online at https://www.readingma.gov/826/MBTA-
Communities-3A-Process; or take any other action with respect thereto.
Community Planning and Development Commission
36
Background:Article 17is aseries ofzoning amendmentsthat would seek to bring the Town of
Reading into compliance with Massachusetts General Law Section 3A otherwise known as the
MBTA Communities Act.
After nearly two years of public engagement, discussions, workshops, and reports, this article
focuses on amendments around the geographies of Reading Commons (West Street), Gazebo
Circle, Summit Towers/Terraces (Summer Avenue)and the Downtown District.
Theproposed amendments seek to extend the existing Apartment-80 Zoning District over Gazebo
Circle and the Reading Commons Development.Each site is proposed to allow up to 30-units-
per-acre over 4-stories. Amendments to the existing dimensional controlsof the Districtare
necessary for compliance sake. There is also the inclusionofan Affordable Housing (Inclusionary
Zoning) section. Map changes include converting the aforementioned areasto the A-80 District
title.
Section 10.5of the Zoning Bylaw, Downtown Smart Growth District (DSGD) 40R Overlay,is also
sought for amendment.The proposal is to increase the by-right density allowances from the
existing 20-units-per-acre to 35-units-per-acre.A total of nine 40R projects have been approved,
just one being under the 35-units-per-acre. This is sought to help facilitate development without
overreaching on past approvals. Other amendments include adding a minimum Open Space
requirement, adjusting parking from a per-bedroom rate to a per-unit rate (1.5 parking spaces per
unit proposed) and amendments tothe Density Tier Schedule to reflect the new densities. There
are no mapchanges associated with the Downtown 40R District.
MBTA Communities obligations
Finance Committee Report:No Report.
Bylaw Committee Report:No Report.
37
and you are directed to serve this Warrant by posting an attested copy thereof in at least one (1)
public place in each precinct of the Town not less than fourteen (14) days prior to November12,
2024, or providing in a manner such as electronic submission, holding for pickup or mailing, an
attested copy of said Warrant to each Town Meeting Member.
Hereof fail not and make duereturn of this Warrant with your doings thereon to the Town
Clerk at or before the time appointed for said meeting.
th
Given under our hands this __day of ___________, 2024.
_______________________
Carlo Bacci, Chair
_______________________
Karen Gately Herrick, Vice Chair
_______________________
Christopher Haley, Secretary
_______________________
Mark L. Dockser
_______________________
Melissa Murphy
SELECT BOARDOF READING
_______________________________
, Constable
38
Haven Streetscape Funding Breakdown
MassWorks Grant
local Town Funds
Uncommited Funds
Local Town FundsMassWorks Grant
Smart GrowthSustainabilityWest Street AccountDowntown Water $ 2,600,000.00 Awarded
$ 234,726.18$ 400,000.00$ 150,642.43PO 1600037 needs to be closed$ 982,129.35available ceiling depending on paving cost$ 520,000.00match
$ 121,113.96$ 500,000.00 conservative amount$ 3,120,000.00
$ 82,294.93
$ 3,410.00
$ (20,865.97)
$ (700.00)Federal Earmark
$ (25,000.00)Dagel for West/Summer Camera$ 2,500,000.00
$ 310,895.35
Town Funds $ 1,445,621.53
MassWorks Phase$ 3,200,000.00Full Construction (Haven/High) Cost$ 8,000,000.00
Cont 15%$ 480,000.00MassWorks Grant$ 2,600,000.00
Police $ 320,000.00Town Funds$ 1,445,621.53
$ 4,000,000.00Borrowed$ 3,954,378.47$ 3,554,378.47borrow amount based on upper limit from water
$ 1,054,378.47borrow amount based on federal earmark and $900k from water
Haven Street Phase $ 2,800,000.00
Cont 15%$ 420,000.00
Police$ 280,000.00
$ 3,500,000.00
MassWorks Phase Costruction Cost$ 4,000,000.00
Engineering/RE Service $ 250,000.00MassWorks Grant$ 2,600,000.00
Town Funding match$ 1,400,000.00
Total $ 7,750,000.00
Say$ 8,000,000.00
Haven/High Street Construction Cost
MassWorks Grant
33%
Borrowed
49%
Town Funds
18%
MassWorks GrantTown FundsBorrowed
MassWorks Phase (High Street)
Construction Cost
Town Funding
match
35%
MassWorks Grant
65%
MassWorks GrantTown Funding match
39
Town of Reading
16 Lowell Street, Reading, MA 01867
Public Services Department
Monday, Wednesday, Thursday: 7:30 AM- 5:30 PM,
Tuesday: 7:30 AM-7:00 PM
Closed on Fridays
Eastern Gateway Priority Planning Effort
Steering Committee
What is the project:
previous visioning work (see previous reports here) within its existing Industrial Zoned area.
Now expanding to include additional area to the north of the previous study area (The Yard) the
project deliverables are set to include:
(1) Analysis of Existing Conditions (base plan documents, diagrams/sketches, precedent
case studies, etc.);
(2) Zoning Analysis (priority recommendations);
(3) A Build-out and Connectivity Analysis (district mapping, alternative development
concepts, program analysis);
(4) Preferred Alternatives Recommendations and Summaries (Final Study, Presentation
Materials, Illustrations).
This is a major effort with much consideration needed to the area, not just in its layout and
improvement, but in Town needs and long-term health. Gauging the balance of possible
commercial, housing, and manufacturing (and/or a mix of these options) development in
relation to the Town desires and needs is critical.
A partnering goal in the project is to work with the RMLD on potential campus consolidation
and visioning of their upcoming site needs and potential layouts of such. A narrative of need
and schematics for preferred layout considerations are expected. This is a unique opportunity
for the Town and RMLD to partner and potentially improve their connected layout.
This work is planned to engage the broader public in multiple ways and iterations.
Purpose of the Steering Committee:
The purpose of the Steering Committee is to assist both the Project Management (PM) team
and the Working Group (outlined below) during the planning effort. The Steering Committee
should seek to:
(1)Provide input, reasoning, understanding, and questioning on the information gathered
and shared;
(2)Support the structure of the overall planning process, including public engagement; and
(3)Help provide the reasoning behind the preferred design considerations and needs
40
The Steering Committee will play an essential role in ensuring the process achieves its goals.
Structure and Composition of the Steering Committee
The Steering Committee will be a small group comprised of representatives from different
Town Committees (Community Planning and Development Committee; Finance Committee;
Climate Advisory Committee). As a Steering Committee who provide guidance and act in an
advisory role it is not necessary to host meetings in a Public Hearing format, though we want
the conversations to be open and available. A relaxed and casual structure for the Steering
Committee will help support open conversations to address the varied needs of the community.
Responsibilities
Commitment: Estimated time commitment is 3-5 hours per month. We expect to meet
once every month and will find a time that works best for the group whether that be
day-time hours or early evening, remote or in-person (or both). Review of delivered
materials for comment and question is expected to help guide the short-term actions in-
between and long-term goals.
We anticipate requesting feedback and assistance from the Steering Committee
members at regular intervals. Communication can be expected through each Steering
Committee
Depending on the design of the community education and engagement strategy that
the Steering Committee will inform, Steering Committee members may be asked to
participate in events with stakeholders and community members.
Meetings will likely cover the following topics:
Discuss the project vision
Design and provide feedback on the areas of study/need
Assist with setting the engagement strategies and methods
Provide general input on the Draft Plan versions
Operating Procedures: The PM team will develop meeting agendas and distribute them
prior to each meeting. Meeting minutes can be recorded and distributed after each
meeting.
Authority: The Steering Committee has no power or authority to enact bylaw/regulation
changes or project implementation outside of the completion and support of the
development of the Plan. Findings will inform Zoning Bylaw updates that will follow
standard procedures.
Project Completion
The project is expected to continue for 12-18 months as we develop, evolve, and complete the
project components.
goals and provide leadership on an important initiative
built environment and land use.
41
Expected Area of Interest
Project Teams
42
Town of Reading
Meeting Minutes
2016-09-22 LAG
Board -Committee -Commission -Council:
Finance Committee
Date: 2024-09-18Time: 7:00PM
Building: Reading Town Hall Location: Select Board Meeting Room
Address: 16 Lowell StreetSession: Open Session
Purpose: Financial ForumVersion: Draft
Attendees:Members -Present:
Chair Joe Carnahan, Vice Chair Marianne McLaughlin-Downing (7:34 pm),
Geoffrey Coram, Joe McDonagh (remote), Ed Ross, John Sullivan, Mark
Zarrow
Members -Not Present:
Endri Kume, Emily Sisson
Others Present:
Town Manager Matt Kraunelis, Chief Financial Officer Sharon Angstrom
(remote), School Superintendent Thomas Milaschewski (remote), Tom Wise,
Carla Nazzaro, KarenHerrick,Tara Gregory,Chris Haley (remote), Mark
Dockser (remote), Carlo Bacci (remote 7:11 pm), ErinGaffen (remote 7:38
pm), John Sasso (remote 7:48 pm)
Minutes Respectfully Submitted By:Jacquelyn LaVerde
Topics of Discussion:
This meting was held in-person in the Town Hall Select Board Meeting Room and remotely
via Zoom.
Welcome and Introduction
Chair Joe Carnahan called the meeting to order at 7:01 pm.
Roll call: Joe McDonagh (remote), Geoffrey Coram, Ed Ross, John Sullivan, Mark Zarrow,
Joe Carnahan.
Select Board Vice Chair Karen Herrick called the Select Board to order at 7:04 pm.
Roll call: Mark Dockser (remote), Chris Haley (remote), Karen Herrick.
Public Comment
Mark Dockser suggested using $4 million to $5 million of Free Cash as a financing
mechanism toward capital projects.
Review of the Town's current financial position
Chief Financial Officer Sharon Angstrom stated that she estimates Free Cash will go up by
$600,000. She also reviewed the financial forecast and projected a 3.5% increase to the
operating budget,and the estimated amount of free cash needed to support the budget.
Based on free cash regeneration over the past few years, and forecasted use, she wanted to
make the Committee aware that there may be a potential need for an override in the next
couple of years.
Select Board member Carlo Bacci joined the meeting at 7:11 pm.
43
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Ms. Angstrom presented the projected revenues from FY24 through FY26. In FY24
revenues increased 3.96% before free cash use, and in FY25 increased 3.22% due to
excluded debt decreasing by 50%.
FY26 revenue is projected at 2.43%, as the final debt payment on the Library will be paid
off, and there will be no more excluded debt. Property taxes are projected to increase 2.2%,
other local revenues projected to increase 4.5%, state aid projected to increase 2.5%, other
available revenues increase 3.7%, and free cash is to be determined.
Free cash is not yet certified, but Ms. Angstrom estimated that free cash will come out at
$20,075,351. General Stabilization is currently $1.9 million, and FINCOM reserves are
$200,000. The total reserve is at $22.22 million, or approximately 18.1% of projected
revenues for FY26.
There was $4.58 million in regeneration in FY24, $2.8 million of which was solely from
investment income. FY24 expenses came in $2.43 million under budget.
Current balances on other available funds include: $47,541 for Sale of Real Estate, which is
used to purchase land or capital purchases; $489,201 from the Reading Ice Arena, for which
there are no restrictions to use the funds; $1,940,114 in the Stabilization Fund, with no
restrictions on the funds; $195,726 in the Smart Growth Stabilization Fund, which can only
be used for capital; and $385,163 in the Special Education Stabilization Fund, for
unanticipated SPED costs.
Accommodated costs increase 3.4% in FY26, and 5.7% in FY27. Retirement increases 8.3%
each year, and Health Insurance is projected to have a 7-10% increase.
Ms. Angstrom reviewed potential free cash usage for FY26, and shared an interactive
spreadsheet that FINCOM members can use to see how free cash usage scenarios would
impact future budgets.
Discuss Finance Committee Policies
Policy on cash reserves
The Committee reviewed the Policy on Cash Reserves. Ed Ross asked what process was
used when the policy was adopted, such as work by a subcommittee. Geoffrey Coram
asked if the bond agencies recommended 7% back in 2016 when this policy was
established, and what the bond rating agencies are recommending now. Chief Financial
Officer Sharon Angstrom stated that bond agencies will not advise on what percentage they
think is healthy, but auditors mostly suggest 10% or more. She will ask the auditors what
they think is a range for a good reserve position.
The Committee discussed how the policy was last established, researching how bond
agencies make their decisions, and what the next steps should be, such as creating a
subcommittee to review the policy, or continuing to review it as a committee. Mark Dockser
noted that it would be helpful to hear what the auditors say. School Committee Chair Tom
Wise noted that the School Committee established a subcommittee to review policies, which
has been more productive working through policy changes. The Finance Committee will
continue their discussion at future meetings.
Policy on debt and capital
Over the last four years, 5.5% of revenue was dedicated to Capital, instead of 5% according
to the Debt & Capital Policy. Mr. Carnahan asked if the policy should be updated to reflect
that, given increased costs and inflation, and how much free cash support is needed.
Ms. Angstrom noted that interest rates are coming down, so costs might start to normalize,
and cautioned that dedicating 5.5% toward capital could increase pressure on the operating
budget, increase the need for free cash, and lead to an override faster.
44
Page | 2
tax levy for capital projects over $5 million, and whether that figure should be adjusted.
Ms. Angstrom cautioned that the larger the number is, the more difficult it would be to get
capital done within the operating budget. Mr. Carnahan noted that if the Community
Preservation Act is adopted, it could also help alleviate pressure on the capital part of the
budget for small capital projects. The consensus of the Committee was to leave the Debt &
Capital policy unchanged.
OPEB policy
Chief Financial Officer Sharon Angstrom explained the budget for Other Post-Employment
Benefits (OPEB) is used as sort of a hedge. There is $500,000 budgeted for OPEB, but it is
not transferred to the trust fund until April. That way it can act as a buffer for health
insurance, as when the budget is built, enrollment, rate increases, and other variables are
unknown.
Peer community benchmarking guidelines
The Committee reviewed and discussed the peer community guidelines adopted in 2013.
The list of peer communities was created by a consultant based on various statistical
comparisons. School Committee Chair Tom Wise advised reviewing the list of peer
communities ahead of the next round of contract negotiations.
Karen Herrick left the meeting at 9:02 pm. As it was unknown when Carlo Bacci left the
meeting, and Mark Dockser and Chris Haley were the only remaining members, the Select
Board was adjourned de facto.
Carla Nazzaro, Chair of the Killam School Building Committee, rose to answer a question
posed earlier in the meeting and explained that the total Killam feasibility study project cost
to date is $548,532, with eligible costs of $252,005, or 45.95% reimbursement rate. That
will not be the reimbursement rate later on. Chief Financial Officer Sharon Angstrom noted
that any funds leftover from the feasibility study can go towards the total project. The
reimbursed funds do not go to the general fund, rather to a separate fund for the Killam
feasibility study.
Discuss possible use of free cash to support the FY26 budget
The Committee had discussed Free Cash earlier in the meeting, but Geoffrey Coram
emphasized the need to know how much is needed to support labor contracts before
knowing how much free cash will be needed.
Future meetings and agendas
The next meeting is scheduled for October 9 to review the November Town Meeting warrant
and vote on Free Cash recommendations to support the FY26 operating budget. The second
Financial Forum is scheduled for October 30, where the Committee will hear updates on the
upcoming Killam School and Reading Center for Active Living (ReCAL) capital building
projects.
Select Finance Committee member to participate in School Department Screening
Committee
School Superintendent Thomas Milaschewski stated that School Director of Finance and
Operations, Dr. Derek Pinto, has transitioned to his new role at Lowell Public Schools. The
Reading Public School Department is now in the process of searching for its next Director of
Finance, or Director of Finance and Operations. The School Department is asking for a
representative from the Finance Committee to serve on its Selection Committee. Geoffrey
Coram expressed his interest to volunteer for this Screening Committee and was appointed
by consensus of the Finance Committee.
Liaison reports
John Sullivan shared that the Community Planning and Development Committee (CPDC)
discussed presenting two MBTA Communities options to Town Meeting. Marianne
45
Page | 3
McLaughlin-Downing added that CPDC is having another MBTA Communities public hearing
tomorrow evening, and they would like to have a primary proposal and a backup proposal.
Marianne McLaughlin-Downing recapped highlights from the Select Board meeting including
the $8 million lower Haven Street project coming to Town Meeting, and a new light
manufacturing business making whiskey coming to General Way, whose next stop will be
before the Select Board.
Joe Carnahan shared that the Community Preservation Act (CPA) Study Committee met last
night to go over slides to be presented to the Select Board next week asking to extend the
Review and approve prior meeting minutes
On a motion by Ed Ross, seconded by Marianne McLaughlin-Downing, the Finance
Committee voted 5-0-2 to approve the meeting minutes of August 21, 2024 as
presented, with Joe McDonagh and Mark Zarrow abstaining, as they were not
present at that meeting.
Roll call vote: Joe McDonagh Abstain, Geoffrey Coram Yes, Ed Ross Yes, John
Sullivan Yes, Mark Zarrow Abstain, Marianne McLaughlin-Downing Yes, Joe
Carnahan Yes.
On a motion by Ed Ross, seconded by Mark Zarrow, the Finance Committee voted
7-0-0 to adjourn at 9:26 pm.
Roll call vote: Joe McDonagh Yes, Geoffrey Coram Yes, Ed Ross Yes, John
Sullivan Yes, Mark Zarrow Yes, Marianne McLaughlin-Downing Yes, Joe
Carnahan Yes.
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