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HomeMy WebLinkAbout2023-10-11 Finance Committee Packet Town of Reading Meeting Posting with Agenda 2018-07-16LAG Board -Committee -Commission -Council: Finance Committee Date: 2023-10-11Time: 7:00PM Building: Reading Town Hall Location: Select Board Meeting Room Address: 16 Lowell StreetAgenda: Purpose:General Business Meeting Called By:Jacquelyn LaVerde on behalf of Chair Ed Ross Notices and agendas are to be posted 48 hours in advance of themeetings excluding Saturdays, Sundays and Legal Holid 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: This meeting will be held in-person in the Town Hall Select Board Meeting Room, and remotely via Zoom: Join Zoom Meeting https://us06web.zoom.us/j/85929961739 Meeting ID: 859 2996 1739 One tap mobile +16465588656,,85929961739# US (New York) +16465189805,,85929961739# US (New York) Dial by your location Meeting ID: 859 2996 1739 Find your local number: https://us06web.zoom.us/u/kcRqkY7ViI AGENDA: Liaison Reports Vote on Recommendations/Guidance for FY25 Budget Vote on Warrant Articles for November Town Meeting Financial Forum II and Future Meeting Agendas Approve Prior Meeting Minutes 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 Town of Reading Financial Forum September 20, 2023 Financial Forum Agenda September 20, 2023 FINCOM Opening Remarks Chair Edward Ross Killam School Presentation-Killam School Building Committee Financial Updates Revenue Update Sharon Angstrom Free Cash Update Sharon Angstrom FY25+ Accommodated Costs Sharon Angstrom FY25+ Operating Budgets under Free Cash Scenarios Sharon Angstrom FY25 School Finance Overview Tom Milaschewski and Derek Pinto Discussion about Free Cash Usage in FY25 Budgets FINCOM Citizens Petition for Burbank Ice Arena Pickleball Players Association FINCOM meeting in October agenda items? Approve Minutes FINCOM Closing Remarks Edward Ross FY25 Revenues Property Taxes$ 89.0 mil. +1.9% Baseline levy $87.62 mil.+ 3.7% New Growth$ .95 mil.+ 0.0% Excluded debt $ 1.28 mil. -52.4% Abate/Exempt -$ 0.85 mil.+ 2.5% Other Local Rev. $ 9.5 mil. +11.2% State Aid $15.9 mil. +2.5% Other $ 4.4 mil. +1.8% Free Cash TBD Projected FY23FY24FY25 FY23-25 Revenues ($ millions) 108.80113.26117.78 Revenues excluded debt impact 2.732.691.28 111.53115.95119.06 4.0%3.96%2.68% Free Cash used 3.233.28TBD Revenues + Free Cash114.76119.23 3.7%3.9% 5 Year Free Cash Analysis (millions) FY19FY20FY21FY22FY23 (est.) Certified Beg. Bal. at $11.01$15.64$14.79$17.73$19.93 7/1 Revenue over budget 2.99.931.692.614.59 Expenses under 3.202.943.032.481.72 budget Use of Free Cash -1.0-4.13-2.95-3.67-6.57 Other Adj. to Free -.56-.59-1.2.78-.35 Cash Certified Bal at 6/30 $15.64$14.79$17.73$19.93$19.32 FY23 Revenues Total $4.59 million over estimates Investment Income +$2.74mill Property Taxes+$205k Penalties & Interest +$134k Meals Taxes+$111k Payment in Lieu of Taxes+$ 44k Motor Vehicle Excise taxes-$ 30k *Delinquent taxes +$738k *Miscellaneous<$100k each+$437k *Medicaid Reimb. +$ 65k *Local Assistance/Other State Rev.+$ 55k mostly sustainable + $3.23 million *one-time payments + $1.29 million FY23 Expenditures Total $1.72 million under budget Employee Benefits-$ 97k Capital Expenses-$126k FINCOM Reserves-$190k Snow & Ice-$ 23k Street Lighting -$ 14k $ .45 mill. Schools -$ 101k $ .10 mill. Town Salaries(PS, PW, & Pub Safety vacancies)-$609k Town Salaries (All Other Departments)-$140k Various Town Expense Accounts-$426k $1.17 mill. Projected FY24-26 Accommodated Costs (millions) C—ЋЍC—ЋЎ/ŷğƓŭĻC—ЋЏ/ŷğƓŭĻ Accommodated Costs43. 47744.3902.10%44.588.4% .ĻƓĻŅźƷƭЋЉ͵ЏБЋЋЊ͵БВЋЎ͵БіЋЌ͵ЉЎЉЎ͵Ќі /ğƦźƷğƌ ε 5ĻĬƷВ͵ЉЉЎА͵БЍБΏЊЋ͵БіЏ͵ЊЌАΏЋЊ͵Бі 9ƓĻƩŭǤЋ͵ЋВЊЋ͵ЎЏЌЊЊ͵ВіЋ͵ЏЌБЋ͵Ві CźƓğƓĭźğƌЊ͵ЊЌЋЊ͵ЊАЉЌ͵ЍіЊ͵ЋЉЉЋ͵Џі 9ķǒĭğƷźƚƓ Ώ{t95 hh5Ў͵БЉЌЏ͵ЉЌЎЍ͵ЉіЏ͵ЋААЍ͵Љі 9ķǒĭğƷźƚƓΏƚĭ͵Љ͵ВЉЎЊ͵ЊЍЊЋЏ͵ЊіЊ͵ЊБАЍ͵Љі aźƭĭ͵ ε /ƚƒƒ tƩźƚƩЌ͵ЏЎВЌ͵АЍЉЋ͵ЌіЍ͵ЊЉЉЊЉ͵Љі Projected FY24-26 Benefits (millions) FY24FY25ChangeFY26Change Benefits20.68321.8925.8%23.0504.5% wĻƷźƩĻƒĻƓƷЏ͵ЊБЉЏ͵ЏБВБ͵ЌіА͵ЋЍЋБ͵Ќі ht9.Љ͵ЎЉЉЉ͵ЎЉЉЉ͵ЉіЉ͵ЎЉЉЉ͵Љі ‘ƚƩƉĻƩ /ƚƒƦЉ͵ЌВЉЉ͵ЍЉЉЋ͵ЏіЉ͵ЍЉЎЊ͵Ќі ƓĻƒƦƌƚǤƒĻƓƷЉ͵ЉАЎЉ͵ЊЋЉЏЉ͵ЉіЉ͵ЊЋЉЉ͵Љі IĻğƌƷŷΉ\[źŅĻ LƓƭ͵ЊЋ͵ЌВБЊЌ͵ЉЊБЎ͵ЉіЊЌ͵ЏЉЌЍ͵Ўі aĻķźĭğƩĻΉ{ƚĭ {ĻĭЊ͵ЉЉЎЊ͵ЉЋЎЋ͵ЉіЊ͵ЉЌЎЊ͵Љі tƚƌźĭĻΉCźƩĻ LƓķĻƒЉ͵ЊЌЎЉ͵ЊЍЉЌ͵АіЉ͵ЊЍЎЌ͵Џі Projected FY24-26 Capital + Debt (millions) FY24FY25ChangeFY26Change Capital/Debt9.0057.848-12.8%6.137-21.80% Capital 2.9383.0303.1%3.1794.9% Debt inside levy3.3813.5384.0%2.958-6.6% Excluded Debt2.6861.279-52.4%- FY25 Free Cash FY25 Free Cash to Usage support Free Cash Increase to Total Free Operating Usage for extra Operating Cash Usage (note that BudgetCapitalBudgets ($millions) approx. ~$700k υЌ͵ЊЎυЋ͵ЍЎυЉ͵АЉЋ͵ЎЉі is directed at υЌ͵ЌЌυЋ͵ЏЌυЉ͵АЉЋ͵АЎі υЌ͵ЎЋυЋ͵БЋυЉ͵АЉЌ͵ЉЉі υЌ͵АЉυЌ͵ЉЉυЉ͵АЉЌ͵ЋЎі υЌ͵БВυЌ͵ЊВυЉ͵АЉЌ͵ЎЉі υЍ͵ЉБυЌ͵ЌБυЉ͵АЉЌ͵АЎі υЍ͵ЋЏυЌ͵ЎЏυЉ͵АЉЍ͵ЉЉі υЍ͵ЍЎυЌ͵АЎυЉ͵АЉЍ͵ЋЎі FY25 Budget Public Meetings September 20Financial Forum I October 11Recommendations/Guidance for FY25 Budget Vote Items for November Town Meeting FINCOM October 25Financial Forum II November 1Regular Meeting (if needed) Dec 5, 6 & 12Attend Select Board Meetings January 4, 11, 18 & 25Attend School Committee Edward Ross, February 21FINCOM: School budget February 28FINCOM: Town budgets March 6 & 13FINCOM: Vote Budgets & TM FINCOM Chair Articles January 31Charter: School Committee Budget to Town Manager February 28Charter: Balanced TM Budget to FINCOM Town of Reading, Massachusetts Analysis of Changes in Certified "Free Cash" Baseline Projection w One-Time Capital Use 3.0% Operating 3.0% Operating 3.0% Operating ProjectedProjectedProjectedProjected Fiscal YearFiscal YearFiscal YearFiscal YearFiscal YearFiscal YearFiscal Year 2021202220232024202520262027 Certified "free cash" beginning of year14,793,34517,730,18519,927,02419,318,70516,851,20515,801,20514,401,205 Favorable variance from operations 6,186,8406,189,8926,315,1812,500,0002,500,0002,500,0002,500,000 in fiscal year Town meeting votes reducing "free cash" for: Current year (Oct TM)-450,000 Current year (Nov TM)-52-2,905,000-1,097,500 Current year (Dec STM) Current year (Jan TM) Current year (Feb TM)or Smart growth Current year (April TM)-468,000-388,500 Subsequent years budget-2,950,000-2,750,000-3,280,000-3,520,000-3,200,000-3,550,000-3,800,000 Subsequent year (from overlay surplus)-300,000-325,000-350,000-350,000-350,000-350,000-350,000 Certified "free cash" end of year17,730,18519,927,02419,318,70516,851,20515,801,20514,401,20512,751,205 Stabilization Balance1,711,1211,718,2241,786,9521,840,5611,895,7781,933,6931,972,367 FINCOM Reserves200,000200,000200,000200,000200,000200,000200,000 Total Projected Reserves19,641,30621,845,24821,305,65818,891,76617,896,98316,534,89914,923,573 Projection Revenues (3% increase assumed )103,745,140108,313,986111,532,491115,977,738118,921,590121,906,958126,412,324 7% Reserve Limit (Projected Revenues * .07)7,262,1607,581,9797,807,2748,118,4428,324,5118,533,4878,848,863 Excess Reserves over 7% Limiit12,379,14614,263,26913,498,38410,773,3259,572,4728,001,4126,074,710 2021202220232024202520262027 Free Cash/Overlay Surplus Used3,250,0003,543,0526,923,5004,967,5003,550,0003,900,0004,150,000 Favorable variance from operations 6,186,8406,189,8926,315,1812,500,0002,500,0002,500,0002,500,000 Certified "free cash" end of year17,730,18519,927,02419,318,70516,851,20515,801,20514,401,20512,751,205 Town of Reading, Massachusetts Analysis of Changes in Certified "Free Cash" Baseline Projection w One-Time Capital Use 3.00% Operating ProjectedProjectedProjectedProjected Fiscal YearFiscal YearFiscal YearFiscal Year 2028202920302031 Certified "free cash" beginning of year12,751,20510,901,2059,051,2057,201,205 Favorable variance from operations 2,500,0002,500,0002,500,0002,500,000 in fiscal year Town meeting votes reducing "free cash" for: Current year (Oct TM) Current year (Nov TM) Current year (Dec STM) Current year (Jan TM) Current year (Feb TM)or Smart growth Current year (April TM) Subsequent years budget-4,000,000-4,000,000-4,000,000-4,000,000 Subsequent year (from overlay surplus)-350,000-350,000-350,000-350,000 Certified "free cash" end of year10,901,2059,051,2057,201,2055,351,205 Stabilization Balance2,011,8152,052,0512,093,0922,134,954 FINCOM Reserves200,000200,000200,000200,000 Total Projected Reserves13,113,02011,303,2569,494,2977,686,159 Projection Revenues (3% increase assumed )130,204,694134,110,835138,134,160142,278,184 7% Reserve Limit (Projected Revenues * .07)9,114,3299,387,7589,669,3919,959,473 Excess Reserves over 7% Limiit3,998,6921,915,498-175,094-2,273,314 2028202920302031 Free Cash/Overlay Surplus Used4,350,0004,350,0004,350,0004,350,000 Favorable variance from operations 2,500,0002,500,0002,500,0002,500,000 Certified "free cash" end of year10,901,2059,051,2057,201,2055,351,205 4.00%3.25%2.75%2.75% Town of Reading Budget Summary One YrOne YrOne YrOne Yr 10/4/23 8:52 AMProjectedChngProjectedChngProjectedChngProjectedChng FY24FY24FY25FY25FY26FY26FY27FY27 Revenues Total Property Taxes87,348,4193.5%89,008,5641.9%90,947,0862.2%94,270,7633.7% Total Other Local Revenues8,750,00012.3%9,731,00011.2%10,310,0006.0%10,891,0005.6% Total Intergov't Revenues15,545,0302.5%15,933,6562.5%16,331,9972.5%16,740,2972.5% Total Transfers & Available4,309,2893.1%4,385,5891.8%4,472,1272.0%4,561,9662.0% Revs before Free Cash$ 115,952,7383.96%$ 119,058,809 2.68%$ 122,061,2102.52%$ 126,464,027 3.61% Free Cash2,580,0001.6%3,000,00016.3%3,200,0006.7%3,350,0004.7% Extra for Capital700,0002.0%700,0000.0%0-100%0-100% Net Available Revenues$ 119,232,7383.90%$ 122,758,809 2.96%$ 125,261,2102.04%$ 129,814,027 3.63% Accommodated Costs Benefits20,682,6884.3%21,892,1925.8%23,049,9015.3%24,252,5745.2% Capital2,938,000-4.8%3,030,0003.1%3,179,0004.9%3,221,0001.3% Debt (inside levy)3,380,6944.0%3,538,3634.7%2,958,275-16.4%3,104,8505.0% Debt (excluded)2,686,112-1.5%1,279,700-52.4%0-100.0%0 Energy2,290,70012.0%2,563,80011.9%2,637,5582.9%2,723,9893.3% Financial1,132,0003.7%1,170,0003.4%1,200,0002.6%1,226,1252.2% Education - Out of district5,803,2004.0%6,035,3284.0%6,276,7414.0%6,527,8114.0% Education - Vocational904,8004.0%1,140,99226.1%1,186,6324.0%1,234,0974.0% Miscellaneous3,508,8052.3%3,589,8222.3%3,949,60210.0%4,332,0389.7% Community Priorities150,0000.0%150,0000.0%150,0000.0%150,0000.0% Accommodated Costs$ 43,476,9993.72%$ 44,390,197 2.10%$ 44,587,7090.44%$ 46,772,484 4.90% Net Accommodated Costs$ 43,476,9993.72%$ 44,390,197 2.10%$ 44,587,7090.44%$ 46,772,484 4.90% $ 2,822$ 904 $ 680$ 220 Operating Costs Municipal Gov't Operating 26,457,5374.00% 27,317,406 3.25% 28,069,6882.75% 28,841,604 2.75% adjustments 1,025 adjustments (EF+RF) 1,243,8824.00% 1,284,308 3.25% 1,319,6272.75% 1,355,916 2.75% TOTAL Muni Govt OPER 27,701,4194.00% 28,602,739 3.25% 29,389,3152.75% 30,197,521 2.75% School Operating 48,051,4984.00% 49,613,171 3.25% 51,133,5062.75% 52,693,802 2.75% adjustments 151,798 150,000 150,000 TOTAL School OPER 48,051,4984.00% 49,764,969 3.57% 51,283,5063.05% 52,843,802 3.04% Operating Budgets$ 75,752,9164.00%$ 78,367,708 3.45%$ 80,672,8202.94%$ 83,041,323 2.94% Municipal Gov't Operating36.6%36.5%36.4%36.4% School Operating63.4%63.5%63.6%63.6% TOTAL SPENDING$ 119,229,9153.90%$ 122,757,905 2.96%$ 125,260,5292.04%$ 129,813,806 3.64% Muni Govt OPER$ 27,701,4194.00%$ 28,602,739 3.25%$ 29,389,3152.75%$ 30,197,521 2.75% Muni Govt ACCOM$ 5,931,9506.17%$ 6,304,078 6.27%$ 6,747,1277.03%$ 7,221,119 7.03% Muni Govt TOTAL$ 33,633,3694.38%$ 34,906,817 3.79%$ 36,136,4423.52%$ 37,418,639 3.55% School OPER$ 48,051,4984.00%$ 49,764,969 3.57%$ 51,283,5063.05%$ 52,843,802 3.04% School ACCOM$ 5,803,2004.00%$ 6,035,328 4.00%$ 6,276,7414.00%$ 6,527,811 4.00% School TOTAL$ 53,854,6984.00%$ 55,800,297 3.61%$ 57,560,2473.15%$ 59,371,613 3.15% Town of ReadingOne YrOne YrOne YrOne Yr Revenues - Details ProjectedChngProjectedChngProjectedChngProjectedChng 10/4/23 8:52 AMFY24FY24FY25FY25FY26FY26FY26FY26 Property Taxes Tax levy (within levy limit)84,536,3013.7%87,623,4593.7%90,787,7953.6%94,108,1153.7% New Growth950,0003.7%950,0000.0%1,025,0007.9%1,050,0002.4% Tax levy (debt exclusion) 2,686,112-1.5% 1,279,700-52.4% --100.0% -#DIV/0! Abatements and exemptions(823,995)2.5%(844,595)2.5%(865,709)2.5%(887,352)2.5% Total Property Taxes87,348,4193.5%89,008,5641.9%90,947,0862.2%94,270,7633.7% Other Local Revenues Motor Vehicle Excise4,000,0001.4%4,250,0006.3%4,500,0005.9%4,750,0005.6% Meals Tax515,00017.0%565,0009.7%590,0004.4%630,0006.8% Penalties/interest on taxes350,00029.6%380,0008.6%400,0005.3%420,0005.0% Payments in lieu of taxes435,0008.7%465,0006.9%480,0003.2%495,0003.1% Charges for services2,350,00010.6%2,560,0008.9%2,755,0007.6%2,950,0007.1% Licenses & permits165,0000.0%175,0006.1%185,0005.7%200,0008.1% Fines80,0000.0%86,0007.5%90,0004.7%95,0005.6% Interest Earnings700,000197.9%1,085,00055.0%1,140,0005.1%1,176,0003.2% Medicaid Reimbursement155,00019.2%165,0006.5%170,0003.0%175,0002.9% Total Other Local Revenues8,750,00012.3%9,731,00011.2%10,310,0006.0%10,891,0005.6% Intergovernmental Revenue State Aid15,545,0302.5%15,933,6562.5%16,331,9972.5%16,740,2972.5% Total Intergov't Revenues15,545,0302.5%15,933,6562.5%16,331,9972.5%16,740,2972.5% Operating Transfers and Available Funds Cemetery sale of lots25,0000.0%25,0000.0%25,0000.0%25,0000.0% RMLD payment2,587,0002.4%2,625,0001.5%2,677,5002.0%2,731,0502.0% Enterprise Fund Support1,243,8824.0%1,284,3083.3%1,319,6272.8%1,355,9162.8% School Revolving Funds100,0000.0%100,0000.0%100,0000.0%100,0000.0% Premiums Reserve for Debt3,407-34%1,281-62%0-100%0#DIV/0! Overlay surplus350,0007.7%350,0000.0%350,0000.0%350,0000.0% Total Transfers & Available4,309,2893.1%4,385,5891.8%4,472,1272.0%4,561,9662.0% OPERATING REVENUES115,952,7383.96%119,058,8092.68%122,061,2102.52%126,464,0273.61% Free Cash3,280,0001.7%3,280,0000.0%2,600,000-20.7%2,600,0000.0% TOTAL REVENUES119,232,7383.90%122,338,8092.61%124,661,2101.90%129,064,0273.53% Town of Reading Acc. Costs - Summary One YrOne YrOne YrOne Yr 10/4/23 8:52 AMProjectedChngProjectedChngProjectedChngProjectedChng FY24FY24FY25FY25FY26FY26FY26FY26 Benefits 20,682,688 4.3% 21,892,192 5.8% 23,049,901 5.3% 24,252,574 5.2% Capital 2,938,000 3,030,000 3,179,000 3,221,000 Debt (inside levy) 3,380,694-0.3% 3,538,363 4.0% 2,958,275-6.6% 3,104,850 3.1% Debt (excluded) 2,686,112 1,279,700 - - Energy 2,290,700 12.0% 2,563,800 11.9% 2,637,558 2.9% 2,723,989 3.3% Financial 1,132,000 3.7% 1,170,000 3.4% 1,200,000 2.6% 1,226,125 2.2% Education - Out of district 5,803,200 4.0% 6,035,328 4.0% 6,276,741 4.0% 6,527,811 4.0% Education - Vocational 904,800 4.0% 1,140,992 26.1% 1,186,632 4.0% 1,234,097 4.0% Miscellaneous 3,508,805 2.3% 3,589,822 2.3% 3,949,602 10.0% 4,332,038 9.7% Community Priorities$ 150,000$ 150,000 $ 150,000$ 150,000 TOTAL Accomm. COSTS$ 43,476,9993.7%$ 44,390,197 2.1%$ 44,587,7090.4%$ 46,772,484 4.9% Town of ReadingOne YrOne YrOne YrOne Yr Acc. Costs - Details ProjectedChngProjectedChngProjectedChngProjectedChng FY24FY24FY25FY25FY26FY26FY27FY27 Contributory Retirement6,140,0006.1%6,649,6208.3%7,201,5388.3%7,799,2668.3% OBRA fees & OPEB study40,0000.0%40,0000.0%40,0000.0%40,0000.0% OPEB contribution500,0000.0%500,0000.0%500,0000.0%500,0000.0% Workers Compensation390,0001.3%400,0002.6%405,0001.3%410,0001.2% Unemployment Benefits75,0000.0%120,00060.0%120,0000.0%125,0004.2% Group Health / Life Ins.12,397,6884.0%13,017,5725.0%13,603,3634.5%14,188,3084.3% Medicare / Social Security1,005,0000.5%1,025,0002.0%1,035,0001.0%1,045,0001.0% Police / Fire Indemnification135,0003.8%140,0003.7%145,0003.6%145,0000.0% Acc. Costs - Benefits$ 20,682,6884.3%$ 21,892,192 5.8%$ 23,049,9015.3%$ 24,252,574 5.2% Acc. Costs - Capital$ 2,938,000-4.8%$ 3,030,000 3.1%$ 3,179,0004.9%$ 3,221,000 1.3% Debt Service - Principal 5,220,0006.1% 3,900,000 -25.3% 2,200,000-43.6% 2,365,000 7.5% Debt Service - Interest 846,806-20.1% 918,063 8.4% 758,275-17.4% 739,850 -2.4% Excluded debt (2,686,112) -1.5% (1,279,700) -52.4% - -100.0% - #DIV/0! Total Included Debt$ 3,380,6944.0%$ 3,538,363 4.7%$ 2,958,275-16.4%$ 3,104,850 5.0% Premiums for general fund$ - #DIV/0!$ - #DIV/0!$ - #DIV/0!$ - #DIV/0! Acc. Costs -Debt$ 6,066,8061.5%$ 4,818,063 -20.6%$ 2,958,275-38.6%$ 3,104,850 5.0% Street Lighting (DPW)135,0003.8%135,0000.0%140,0003.7%140,0000.0% Electricty (FacCORE)1,070,00018.9%1,095,0002.3%1,122,3752.5%1,161,6583.5% Natl Gas (FacCORE)676,0004.0%878,80030.0%909,5583.5%945,9404.0% Water/Sewer (FacCORE)219,7009.9%225,0002.4%230,6252.5%236,3912.5% Fuel - vehicles (DPW)190,00015.2%230,00021.1%235,0002.2%240,0002.1% Acc. Costs - Energy$ 2,290,70012.0%$ 2,563,800 11.9%$ 2,637,5582.9%$ 2,723,989 3.3% Casualty Ins (AD SVC)787,0002.6%820,0004.2%845,0003.0%866,1252.5% Vet's Assistance (PUB SVC)$ 145,00016.0%$ 150,000 3.4%$ 155,0003.3%$ 160,000 3.2% FINCOM Reserve Fund200,0000.0%200,0000.0%200,0000.0%200,0000.0% Acc. Costs - Financial$ 1,132,0003.7%$ 1,170,000 3.4%$ 1,200,0002.6%$ 1,226,125 2.2% SPED transp OOD (Sch)1,076,4004.0%1,119,4564.0%1,164,2344.0%1,210,8044.0% SPED tuition OOD (Sch)5,798,0004.0%6,029,9204.0%6,271,1174.0%6,521,9614.0% SPED contingency488,8004.0%508,3524.0%528,6864.0%549,8344.0% SPED offsets OOD (Sch)(1,560,000)4.0%(1,622,400)4.0%(1,687,296)4.0%(1,754,788)4.0% Acc. Costs - OOD SPED$ 5,803,2004.0%$ 6,035,328 4.0%$ 6,276,7414.0%$ 6,527,811 4.0% Voc School - NERMVS665,6004.0%892,22434.0%927,9134.0%965,0294.0% Voc School - Minute Man52,0004.0%54,0804.0%56,2434.0%58,4934.0% Voc School - Essex North187,2004.0%194,6884.0%202,4764.0%210,5754.0% Acc. Costs - Vocational$ 904,8004.0%$ 1,140,992 26.1%$ 1,186,6324.0%$ 1,234,097 4.0% Rubbish (DPW) 2,034,2503.0% 2,095,278 3.0% 2,409,56915.0% 2,771,004 15.0% Snow and Ice Control (DPW) 675,0000.0% 675,000 0.0% 700,0003.7% 700,000 0.0% State Assessments799,5552.5%819,5442.5%840,0332.5%861,0342.5% Cemetery (DPW) Acc. Costs - Misc.$ 3,508,8052.3%$ 3,589,822 2.3%$ 3,949,60210.0%$ 4,332,038 9.7% Capital Improvement Plan (CIP) 10/5/2023 16:14 FY-2024FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY24-33 Facilities - General/CORE 250,000 50,000 440,000 300,000 745,000 1,004,500 50,000 50,000 50,000 50,000 - 2,989,500 Facilities - School Buildings 163,000 - 138,000 106,000 100,000 - 80,000 875,000 1,100,000 - - 2,562,000 Facilities - Town Buildings - - - 144,000 - 30,000 - - - - - 174,000 Public Schools - General 175,000 135,000 135,000 145,000 212,000 205,000 635,000 160,000 160,000 160,000 160,000 2,282,000 Administrative Services 100,000 100,000 100,000 130,000 125,000 150,000 150,000 150,000 150,000 150,000 150,000 1,755,000 Finance - 400,000 - - - - - - - 600,000 - 1,000,000 Public Library 10,000 - 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 100,000 Public Services - - - - - 945,000 - 535,000 800,000 - - 2,280,000 Public Safety - Fire/EMS 276,000 - 1,200,000 435,000 685,000 71,000 1,840,000 165,000 350,000 695,000 - 5,717,000 Public Safety - Police/Dispatch - - - 275,000 - - - 160,000 80,000 500,000 - 1,015,000 Public Works - Equipment 1,935,000 610,000 240,000 599,500 590,000 492,500 60,000 1,160,000 882,000 - - 6,569,000 Public Works - Parks & Cemetery 575,000 515,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 - 3,490,000 Public Works - Roads 985,000 1,225,000 625,000 775,000 895,000 910,000 900,000 975,000 950,000 950,000 - 9,190,000 TOTAL CAPITAL REQUESTS 4,469,000 3,035,000 3,188,000 3,219,500 3,662,000 4,118,000 4,025,000 4,540,000 4,832,000 3,415,000 320,000 42,009,500 Net Revenues (000s) 115,126 119,233 122,810 126,494 130,289 134,198 138,224 142,370 146,642 151,041 155,572 less excluded debt (2,686) (1,280) - - - - - - - - - Baseline for FINCOM Policy 112,440 117,953 122,810 126,494 130,289 134,198 138,224 142,370 146,642 151,041 155,572 FINCOM policy: 5% debt + capital 5,622,000 5,897,650 6,140,500 6,324,714 6,514,456 6,709,890 6,911,186 7,118,522 7,332,078 7,552,040 7,778,601 66,123,035 - Net Included Debt3,380,6943,538,3382,958,2753,104,8502,853,1752,592,1503,180,8502,574,5502,487,8001,818,9501,665,000 28,489,632 FINCOM Target Capital Funding 2,241,306 2,359,312 3,182,225 3,219,864 3,661,281 4,117,740 3,730,336 4,543,972 4,844,278 5,733,090 6,113,601 37,633,403 Original Funding Voted or Proposed 2,246,306 2,359,312 3,188,000 3,219,500 3,662,000 4,118,000 3,732,500 4,540,000 4,844,278 5,733,090 6,113,601 39,842,985 Additional temp funding 691,694 675,688 1,367,382 Emergency cuts - Additional Funding Sept TM - Additional Funding Nov TM 1,531,000 1,531,000 Additional Funding April TM - TOTAL CAPITAL REQUESTS 4,469,000 3,035,000 3,188,000 3,219,500 3,662,000 4,118,000 3,732,500 4,540,000 4,832,000 3,415,000 320,000 41,097,000 Capital & Debt Policy6.98%5.57%5.00%5.00%5.00%5.00%5.00%5.00%5.00%5.00%5.00% Annual Surplus (Deficit) - - - - - - - - 12,278 2,318,090 5,793,601 Cumulative Surplus (Deficit) - - - - - - - - 12,278 2,330,367 8,123,968 Capital Projects Identified but there is no proposed funding yet in the Capital Plan (shading/boldcrossout indicates a change from last Town Meeting) 1. RMHS Ropes course 2. RMHS Fldhouse floor/bleachers 3. Wood End field repairs 4. Artificial Turf@Parker MS 5. BM Master Plan up to $10mil. in total A. Support & General Circulation $750k-$1.2mil C. Softball/Multi purpose new turf field $3.2-3.6mil A. Imagination Station Parking $450-550k C. Coolidge Field turf $2.2-2.4 mil. (incr from $1.4mil) A. Lacrosse Wall $100-150k $1.5 mil ARPA funding awarded in FY23 for Phase I $2.0mil now proposed as debt funding in FY25 for Phase II Capital Improvement Plan (CIP) 10/5/2023 16:14 FY-2024FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY24-33 6. Killam Building project TBD Excluded Debt - Killam Field improvements, drainage, repaving ($350k HOLD for Killam project) 7. Senior/Community Center TBA Excluded Debt if >$5mil (Options are being explored) 8. DPW Bldg improvements (scope changed) 9. 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 Capital Improvement Plan (CIP) 10/5/2023 16:14 FY-2024FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY24-33 Facilities - CORE 250,000 50,000 440,000 300,000 745,000 1,004,500 50,000 50,000 50,000 50,000 - 3,051,500 Energy (Performance Contract) $4.95mil debt DebtDebt - Energy Improvements II OPM/Design - Energy Improvements II $5.0mil/15yr DebtDebtDebtDebtDebtDebtDebtDebtDebtDebt - Energy (Green Repairs) $1.05mil debt - Bldg Security - $4.0mil debt DebtDebtDebtDebtDebtDebtDebt - 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 50,000 550,000 RMHS Building project ~$55mil debt xDebt - RMHS Bldg proj - $6 mil Litig. some debt DebtDebtDebtDebt - RMHS Retaining Wall - $0.5mil debt - RMHS Turf 2 - $2.225 mil debt DebtDebtDebtDebtDebtDebtDebt - RMHS Stadium OPM/Design - RMHS Glycol Reclamation & Installation 200,000 200,000 RMHS Stadium Turf/Track $3 mil/10yr DebtDebtDebtDebtDebtDebtDebtDebtDebt - RMHS Ropes Course 97,500 RMHS/RISE playground design RMHS/RISE playground improvements RMHS Fldhouse floor/bleachers $1.7 mil TBD debt ($200K design; $1.5mil project ) 200,000DebtnaDebtnaDebtnaDebtnaDebtna 200,000 Parker MS roof project OPM/design - Parker MS Roofing project $2.7mil/10yr DebtDebtDebtDebtDebtDebtDebtDebtDebt - Coolidge Alarm Panel 55,000 250,000 305,000 Coolidge MS roof project design 450,000 450,000 Coolidge MS Roofing project $3.7mil/10yr DebtnaDebtnaDebtnaDebtna - Modular Classrooms $1.2m debt Debt - Killam Building project TBD xDebtxDebtxDebtxDebtxDebtxDebtxDebtxDebtxDebt - Barrows/Wd End Bldg projects $0.8mil debt xDebt - Barrows/Wd End Bldg projects debt 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 xDebtxDebt - Police Sta. project $1.5mil/10yr DebtDebtDebtDebtDebtDebtDebtDebtDebt - Town Hall Roofing project $515k 520,000 520,000 Police Sta. Antena System Grant Main St. Fire Sta Roofing project $225k - Community Center TBA xDebt if >$5mil - DPW Bldg project TBD - Capital Improvement Plan (CIP) 10/5/2023 16:14 FY-2024FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY24-33 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) 55,000 55,000 Plumber's Cut-away Van (2017) 57,000 57,000 Pickup Truck Chevy 2500HD (2016) 65,000 65,000 Pickup Truck Chevy 2500HD (2017) 65,000 65,000 Van E350 Econoline (2006) 55,000 55,000 Bob Cat skid steer - Bobcat Skid - snowplow (2008) 45,000 45,000 Bobcat Utility - snowplow (2013) 35,000 35,000 Buildings - Schools (Total) 163,000 - 138,000 106,000 100,000 - 80,000 875,000 1,100,000 - - 2,577,000 Arc Flash Hazard Study 163,000 105,000 268,000 Barrows -> HVAC - Elementary schools 80,000 775,000 855,000 design(yr1)/project(yr2)Wood End -> 100,000 1,100,000 Carpet/Flooring 66,000 60,000 126,000 Doors & Windows 33,000 40,000 40,000 113,000 Wood End Water Heater - Coolidge Water Heater - Parker Water Heater - Parker Carpet/Flooring 15,000 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 Police Station Water Heater - Capital Improvement Plan (CIP) 10/5/2023 16:14 FY-2024FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY24-33 Schools - General 175,000 135,000 135,000 145,000 212,000 205,000 635,000 160,000 160,000 160,000 160,000 2,232,000 Food Service Van E-250 (2014) 52,000 52,000 Driver's Education Vehicle (2022) 45,000 45,000 Card readers for all the schools 65,000 Vehicle Barriers for all schools 475,000 Courier Vehicle (2007) - District-wide Telephone systems 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 110,000 Design for Technology wiring projects - District-wide Technology Wiring projects - District-wide Technology projects 100,000 125,000 125,000 135,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 1,485,000 Administrative Services 100,000 100,000 100,000 130,000 125,000 150,000 150,000 150,000 150,000 150,000 150,000 1,405,000 Water Tank Town telco equip replace/relocate - Remote access multi factor authentication - Internal segmentation firewall - GIS flyover - planimetrics - Technology projects 100,000 100,000 100,000 130,000 125,000 150,000 150,000 150,000 150,000 150,000 150,000 1,405,000 Finance - 400,000 - - - - - - - 600,000 - 1,000,000 Financial System 600,000 600,000 CAD System (Computer Aided Dispatch) 400,000 400,000 Library 10,000 - 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 100,000 Equipment 10,000 - 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 100,000 Public Services - - - - - 945,000 - 535,000 800,000 - - 2,365,000 Maillett Sommes Morgan $1.0mil/10yrs DebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtna - Downtown Improvements II $4.0mil/ 20yrs DebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtna - 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 B MdwKillamSturges - Capital Improvement Plan (CIP) 10/5/2023 16:14 FY-2024FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY24-33 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 DebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtnaDebtna - 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 276,000 - 1,200,000 435,000 685,000 71,000 1,840,000 165,000 350,000 695,000 6,217,000 Ladder Trk #1 (2008: $800k, next FY22) (15 years) 126,000 126,000 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 Capital Improvement Plan (CIP) 10/5/2023 16:14 FY-2024FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY24-33 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 575,000 975,000 Ambulance equipment 45,000 45,000 90,000 Passenger Car#1 (2022 - 10yrs) 75,000 140,000 Passenger Car#2 (2024 - 10yrs) 65,000 75,000 65,000 Passenger Car#3 (2019 - 10yrs) 71,000 71,000 Passenger Car#4 (2024 - 10yrs) 85,000 85,000 Pickup Truck #1 (2019 - 12yrs) 85,000 85,000 Pickup Truck #2 (2012 - 12yrs) 80,000 80,000 Alarm Truck (1994 - 20yrs) - ALS Defibrillator (2019 - 7yrs) 50,000 50,000 100,000 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 75,000 Turnout Gear (2022 - 5yrs) 300,000 350,000 650,000 Public Safety - Police/Dispatch - - - 275,000 - - - 160,000 80,000 500,000 1,095,000 Police Unmarked Vehicle 50,000 50,000 100,000 Police equipment (tasers) (7 years) 160,000 160,000 Firearms Replacement (12 years) 120,000 80,000 Vehicle Video Integration 200,000 200,000 Radios (Police & Fire 2022 - 12yrs) 500,000 500,000 AEDs 25,000 30,000 55,000 Public Works - Equipment 1,935,000 610,000 240,000 599,500 590,000 492,500 60,000 1,160,000 882,000 - 7,153,000 Large TrucksLife 480,000 240,000 240,000 265,000 70,000 275,000 - 935,000 632,000 - 3,137,000 C-03 Dump Truck C3 (2016)10 75,000 75,000 C-04 Dump Truck C2 (2012)10 70,000 70,000 H-05 Small Dump Truck #7 (2012)10 65,000 65,000 H-06 Aerial Pickup Truck #14 (2017) - H-07 Truck #10 (2018)15 240,000 240,000 H-08 Truck #9 - Sander (2017)15 250,000 250,000 H-09 Truck #8 - 10 wheeler (2016)15 245,000 245,000 H-10 Truck #22 -Sander (2015) 240,000 240,000 Capital Improvement Plan (CIP) 10/5/2023 16:14 FY-2024FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY24-33 H-11 Truck #4 - Sander (2014)15 235,000 235,000 H-12 Truck #16 - Sander (2011)15 220,000 220,000 H-14 Truck #3 - Sander (2010)15 215,000 215,000 H-15 Truck #5 (2008)15 200,000 200,000 H-16 Truck # 7 (2008) 240,000 240,000 H-17 Truck # 11 (2008)15 240,000 240,000 H-18 Truck #19 - Sander (2007)15 240,000 240,000 H-19 Truck #18 - Sander (2006)15 240,000 240,000 P-03 Dump truck #24 Parks (2017)15 62,000 62,000 P-04 Dump truck #12 Parks (2015)15 60,000 60,000 Pick-ups/Cars/Vans 235,000 120,000 - 54,000 176,000 62,000 60,000 70,000 - - 777,000 C-02 Pickup Ford Utility #C1 (2014)10 60,000 60,000 C-06 Cem. #4 Ford Sedan (2006)10 40,000 40,000 CAR 1 Ford Escape (2016) 54,000 54,000 CAR 2 Car #3 Ford Escape HYBRID (2008)10 55,000 55,000 E-01 Chevy Traverse (2019) - F-02 Pickup Chevy #9 Parks (2011)10 100,000 100,000 H-01 Pickup #16 (2015) 62,000 62,000 H-02 Pickup #18 (2006) 80,000 80,000 H-03 Pickup #4 (2020) 70,000 70,000 H-04 Pickup Ford Utility #11 (2014) 67,000 67,000 M-02 Pickup #1 (2020) - PFC-01 Ford Escape (2017) 59,000 59,000 P-02 Pickup Ford #2 Parks (2015)10 50,000 50,000 Pickup for P/F/C Supervisor 80,000 80,000 Backhoes/Loaders/Heavy Equipment 280,000 - - - 80,000 - - - - - 360,000 C-07 Backhoe Loader (2020)10 - H-20 Loader JD 624 (2020)10 - H-21 Loader JD 624 (2017)10 - Loader to replace Sicard 280,000 280,000 H-22 Backhoe JD 710L HWY (2020)10 - H-23 Bobcat Loader (2015)10 - P-05 Ventrac tractor (2020)10 - P-06 Tractor JD4520 (Parks) (2012)15 80,000 80,000 Specialty Equipment - Heavy Duty - 250,000 - - 230,000 113,000 - - - - 988,000 F-04 Bucket Truck #21 Forestry (2009)15 - F-05 Chipper/LoaderTruck #23 (2008)15 210,000 H-24 Forklift (2016) - Capital Improvement Plan (CIP) 10/5/2023 16:14 FY-2024FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY24-33 H-25 Crawler Dozer (2003) - 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)15 185,000 H-29 Snow Holder #2 c480 (2013)15 - H-31 Leeboy Pavement Sprd (2014)10 - H-32 Hamm Roller, Large (2014) - H-33 Hamm Roller, Small (2016) 50,000 50,000 H-34 Leeboy Roller, Small (1998) - H-41 Screener (2018)15 - Blower unit for Loader 250,000 250,000 W-23 Sicard HD Snowblower (1999) - Specialty Equipment - Light Duty 916,000 - - 70,000 10,000 10,000 - 145,000 250,000 - 1,440,000 C-14 SmithCo 48" Sweeper (2012)10 30,000 30,000 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) 30,000 30,000 P-12 Smithco 60 Turf Sweeper (2016) 40,000 40,000 P-13 Sweeper/Blower/Mower (1985) 15,000 P-14 Leaf Vac SKAG (2016) 25,000 25,000 P-15 Trailer (2016) 10,000 10,000 Capital Improvement Plan (CIP) 10/5/2023 16:14 FY-2024FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY24-33 P-16 Trailer (2013) 16,000 16,000 P-17 Trailer (stump grinder) 24,000 P-18 Trailer Enclosed (2007) - R-01 Rubbish Barrells for automated pickup 900,000 900,000 Lawnmowers 24,000 - - 210,500 24,000 32,500 - 10,000 - - 451,000 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" (2008) 24,000 24,000 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) 24,000 24,000 P-07 Mwr SKAG TT #5 (2017) 24,000 24,000 P-08 Mwr SKAG 20,000 20,000 P-09 Mwr (Pks) TORO 5910N (2014) 150,000 150,000 P-10 Mower - TORO Gang (2007) 150,000 DPW: Parks & Cemetery 575,000 515,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 3,690,000 Gen'l Fence Replacement 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 550,000 DPW Yard Improvements - Strout Avenue Improvements - School Site Improvements - Birch Meadow (parking lots, sidewalks, walkways) 215,000 215,000 Field, Playground and Court Improvements 200,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 1,100,000 Rock Wall repairs - Memorial Park 100,000 Rock Wall Repair Program 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 1,000,000 Rock Wall repairs - Laurel Hill - Rock Wall repairs - Joshua Eaton - Grove Street Parking Lot Improvements 200,000 Gen'l Parking Lot Improvements 25,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 525,000 DPW: Roads - Track Road Bridge #1 - Track Road Bridge #2 grant funded TBD - Salem Street Crosswalk Improvements 40,000 40,000 Salem and Main Traffic Signal Improvements 20,000 20,000 Sidewalk/Curb/Ped. Safety 100,000 100,000 100,000 125,000 150,000 175,000 175,000 200,000 200,000 200,000 1,625,000 Skim Coating & Crack Seal Patch 100,000 100,000 100,000 125,000 150,000 175,000 175,000 200,000 200,000 200,000 1,625,000 West Street - Local shr ($1.3mil)DebtDebt - Lowell Street $500k + $600k 600,000 1,100,000 General Fund - various roads 725,000 425,000 425,000 525,000 595,000 560,000 550,000 575,000 550,000 550,000 5,905,000 TOTAL GENL FUND VOTED - ROADS 985,000 1,225,000 625,000 775,000 895,000 910,000 900,000 975,000 950,000 950,000 - 10,315,000 Grants - various roads 600,000 600,000 600,000 600,000 600,000 600,000 600,000 600,000 600,000 600,000 6,600,000 TOTAL ROAD CAPITAL 1,585,000 1,825,000 1,225,000 1,375,000 1,495,000 1,510,000 1,500,000 1,575,000 1,550,000 1,550,000 16,915,000 Capital Improvement Plan (CIP) 10/5/2023 16:14 FY-2024FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY24-33 Biggest Changes in Capital since November 2022 Town MeetingConcerns Killam ES - any costs not Excluded debt should be identified very soon $900k was added to theFY25 capital as debt for barrells for automated pickup $27..5 k was added to FY23 Grove Street Parking Lot and Path Design Feasibility Study approved and Nov 22 STM RMHS Fieldhouse bleachers/floor $1.7mil design work added FY26 & debt to fund project starting FY27 - safety issue 1. $1 mil 'community sustainability' 2. downtown improvments/Haven Street ($7 mil identified; $5mil in state bond bill) COMMONWEALTH OF MASSACHUSETTS Middlesex, ss. Officer's Return, Town of Reading: By virtue of this Warrant, I ______________________________, on ____________, 2023 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 Subsequent Town Meeting Warrant in the following public places within the Town of Reading: Precinct 1 J. Warren Killam School, 333 Charles Street Precinct 2 Reading Police Station, 15 Union Street Precinct 3 Reading Municipal Light Department, 230 Ash Street Precinct 4 Joshua Eaton School, 365 Summer Avenue Precinct 5 Reading Public Library, 64 Middlesex Avenue Precinct 6 Barrows School, 16 Edgemont Avenue Precinct 7 Birch Meadow School, 27 Arthur B Lord Drive Precinct 8 Wood End School, 85 Sunset Rock Lane Town Hall, 16 Lowell Street The date of posting being not less than fourteen (14) days prior to Monday, November 13, 2023, the date set for Town Meeting in this Warrant. _____________________________________________ Constable A true copy Attest: _____________________________________________ Laura Gemme, Town Clerk 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 Monday, November 13, 2023 at 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 1 To 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 Town Meeting, the following reports are anticipated: - Killam School Building Committee - MBTA Communities Update - Sanborn Lane Private Road Update ARTICLE 2 To 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. ARTICLE 3 To see if the Town will vote to amend the FY 2024-34 Capital 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 FY2024 FY2034 CIP (current year plus ten years): General Fund FY24: +$1,531,000 net changes +$900,000 Rubbish carts for automated pickup +$200,000 Grove Street Parking Lot Improvements +$ 40,000 Salem Street Crosswalk Improvements +$ 20,000 Salem and Main Street Traffic Signal Improvements +$300,000 Road paving -$ 140,000 Rise Playground Improvements (added to BM phase II in FY25) +$ 85,000 Fire passenger vehicle +$126,000 Materials cost increase for Ladder Truck funded in FY22 FY25: +$275,000 net changes +$ 25,000 School -District-Wide Technology Projects (increase from $100k to $125k) -$ 25,000 School Doors and Windows ( Increased by & moved out 1 year to FY26) +$ 400,000 Public Safety Computer Aided Dispatch System -$ 10,000 Library Equipment -$ 200,000 DPW Sander Truck #19 (2007) (Increased by $40k and moved out to FY26) +$ 40,000 DPW Sander Truck #18 (2006) (Increased by $40k to $240k) +$ 20,000 DPW Pickup Truck #18 (2006) (Increased by $20k to $80k) +$ 25,000 DPW Blower Unit for Loader (Increased by $25k to $250K) FY26+ Various other changes made Enterprise Funds Water FY24: +$150,000 net changes +$150,000 SCADA Upgrades FY25: +$0 net changes FY26+ Various changes made Enterprise Funds Sewer FY24: +$150,000 net changes +$150,000 SCADA Upgrades FY25: +$50,000 net changes +$50,000 Vacuum Truck (split with Storm Water) increase cost from $300k to $350k FY26+ Various changes made Enterprise Funds Storm Water FY24: +$0 net changes FY25: +$50,000 net changes +$50,000 Vacuum Truck (split with Storm Water) increase cost from $300k to $350k FY26+ Various changes made Finance Committee Report: The Finance Committee recommends the proposed amendments to the FY 2024 FY 2034 Capital Improvements Program by a vote of ____ at their meeting on _____. 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 4 To see if the Town will vote to amend the Town's Operating Budget for the Fiscal Year commencing July 1, 2023, as adopted under Article 12 of the Annual Town Meeting of April 24, 2023; 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 Line Description Decrease Increase C99 - Capital $5,000 +$40,000 Salem Street Crosswalk Improvements +$20,000 Salem & Main Street Traffic Signal Improvements -$ 140,000 Rise Playground Improvements (added to BM phase II in FY25) +$ 85,000 Fire passenger vehicle G91 Pay & Class Wage Adjustments $15,000 $15,000 Administrative Services Wages G92 Property & Casualty Insurance $110,000 Administrative Services Wages G91a Overtime for projects $10,000 Technology Wages G92a Technology Professional Services $30,000 Expenses H91 Public Pay & Class Wage Adjustments $19,000 Services Wages I91 Finance Pay & Class Wage Adjustments $33,500 Wages I92 Finance Regional Assessor Contract Increase $10,000 Expenses J91 Police Retirement savings $25,000 Wages J92 Police RCPS Program Expenses $23,000 Expenses K91- Public Works Retirement savings $10,000 Wages Subtotals $35,000 $255,500 Net Operating Expenses $220,500 From Free Cash $197,500 From Opioid Settlement Reserve Fund $23,000 Enterprise Funds Account Line Description Decrease Increase W99 Water EF SCADA Upgrades $150,000 S99 Sewer EF SCADA Upgrades $150,000 Subtotals $300,000 From Water EF Reserves $150,000 From Sewer EF Reserves $150,000 Finance Committee Report: At their meeting on ______, the Finance Committee voted ____ to recommend this Article to Town Meeting. Bylaw Committee Report: No Report. ARTICLE 5 To see if the Town will vote to raise and appropriate, transfer from available funds, borrow or 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. Bylaw Committee Report: No Report. ARTICLE 6 To see if the Town will vote to: (1) Raise and appropriate, borrow, transfer from available funds or otherwise provide a sum or sums of money to pay the costs of infrastructure improvements to the Birch Meadow ipal parking lot, resurfacing of tennis courts, including the payment of any and all other costs incidental and related to thereto; (2) Pursuant to G.L. c.40, §15A, transfer the care, custody and control of Assessor Parcel 27-0-342, including any sports facilities thereon located on Bancroft Avenue in the Town of Reading, from the Town of Reading School Department to the Select Board; (3) Dedicate the portions of Assessors Parcels 27-0-343, 27-0-342, and 33-0-57 for Communities (PARC) Plan Reading Memorial High School Birch Meadow Drive, Reading, to park and recreation purposes under G.L. c. 45, §3, the premises being approximately 4.8 acres of land, including any sports facilities thereon located; (4) Authorize the Town Manager to apply for any and all grants to fund the Project, including the Parkland Acquisitions and Renovations for Communities grant from the Executive Office of Energy and Environmental Affairs, and to take such other actions as necessary to carry the terms, purposes and conditions of any such grants; or take any other action with respect thereto. Select Board Background: The Town of Reading applied for additional grant funding to supplement the furthering of improvements under the Birch Meadow Master Plan. $500,000 was applied for under the Parkland Acquisitions and Renovations for Communities Grant Program under the Office of Energy and Environmental Affairs. The Town anticipates receiving an award notification on this grant ahead of the November Town Meeting. Below is an ongoing project timeline of the Birch Meadow Master Plan, which includes both Phase I work, as well as work completed this year to prepare for the next phase of improvements: 2018-2020 The Reading Recreation Committee appointed a new Birch Meadow Master Plan Working Group to make recommendations based on recreational trends and community input; a community survey was completed in 2020. 2021 Activitas Inc. was retained by the Town of Reading to update the Master Plan for Birch Meadow and Town Meeting approves $150,000 to start Phase I design of Birch Meadow Master Plan. 2022 Select board approves $1.5 million in ARPA funding to Phase 1 Construction for the Birch Meadow Master Plan April 2023 Birch Meadow Phase 1 was bid in February 2023; bids came in at $2.137 million, above the ARPA allocation, and supplemental funding was sought during April Town Meeting at the recommendation of the Recreation Committee, the Finance Committee, and the Select Board. Town Meeting voted to allocate an additional $1,220,000 to complete Phase I of the Birch Meadow Master Plan which included the reconstruction of the parking lot where imagination station was previously located; an accessible walking path with lights; a lacrosse practice wall; and a restroom pavilion. The funding for this was $600,000 from excess funding from the Parker Middle School Roof Project; $180,000 from the Police Station Renovation Project; and $440,000 from the 40R Smart Growth District Stabilization Fund. June 2023 With Town Meeting approving the work, construction began on Birch Meadow Phase 1. At the writing of this document, construction is progressing well, with an expected completion of by October 2023. At this moment, we are not aware of any unforeseen costs related to this project. In other words, we do not foresee a need to ask for additional funds related to Birch Meadow Phase I. July and August 2023 Our staff successfully submitted the PARC grant application to the State. If awarded, this grant will provide $500,000 in additional funding for Phase II of this project. Birch Meadow Phase II includes several critical components which are shown in the rendering below developed by our architect, Activitas. A summary is below: 1. Expansion of parking along Brancroft Avenue to a total of 49 parking spaces. 2. Expansion of the parking lot opposite the Rise School playground to 45 total parking spaces. 3. Renovation of the tot-lot/playground, with a focus on making the playground fully ADA accessible. 4. Renovation and expansion of the basketball courts, including replacing the lighting in the area. 5. Adding asphalt and ADA accessible walkways between the areas. Community Engagement Gathering public input and opinions was a critical aspect of both the Master Plan process for Birch populations was performed in preparation of Phase II conceptual designs for Birch Meadow. Community surveys through the Birch Meadow Master Plan process, as well as collected feedback from residents at a public meeting held in June 2023, all inform the final conceptual designs for Phase II which have been submitted with the PARC Grant application. Design Approach Following engagement through both the Birch Meadow Master Plan process, and through community engagement in preparation for the PARC Grant Application, Activitas utilized this feedback to provide conceptual designs for Phase II of the Birch Meadow Complex. Priority areas of focus under Phase II include the reconstruction of a municipal parking lot, the improvement of courts. Funding Request The Town of Reading Capital Plan has included a $2 million debt borrowing projection with the first payments scheduled for FY2025. At this Town Meeting, we are requesting that this borrowing be increased to $2.14 million to incorporate the replacement of the Rise Playground play surface, which is funded at $140,000 in the FY2024 capital plan. Facilities will be returning the $140,000 in funding to the general budget to be used for another project. The Facilities department made this request since it would be more cost effective to replace the playground surface in conjunction with a larger project, than to bid it out on its own. In fact, Facilities attempted to bid out this project and did not receive any interested contractors, largely because of the small size of the project. If approved by the Town Meeting, the Town will work with Activitas to finalize the design in calendar year 2024 so that Birch Meadow Phase II can be constructed in calendar year 2025. If the State awards the grant of $500,000, it will greatly augment the funding available for this project. Transfer of Care, Custody and Control to Select Board After doing title search and a land survey, the Town discovered that the property on which this project sits is partially owned by the Town and partially owned by the Schools. This is shown on the survey below. To apply for the PARC grant, the State requires that property be transferred to the Town body responsible for maintenance and preservation of park lands. In the Town of Reading, this charge falls under the Select Board. In addition, to get the grant, the land must be dedicated in perpetuity as park lands, including sports facilities, and cannot be used for any other municipal use that is not park or recreation purposes, as defined in Mass General Law Chapter 45 Section 3. The Town believes that the property surrounding Birch Meadow is a key asset to the Town and will always be used for park and recreation purposes. The Town presented this to the School Committee before applying for the $500,000 grant. The School Committee agreed with dedicating the land for park and recreation purposes in perpetuity. Furthermore, the School Committee will be taking a vote to transfer this land to the Select Board ahead of Town Meeting. Finance Committee Report: At their meeting on _____, the Finance Committee voted ___ to recommend this Article to Town Meeting. Bylaw Committee Report: No report. ARTICLE 7 To see if the Town will take the following actions: (1) Pursuant to G. L. c. 44, § 53E½, adopt a new revolving fund called the Solid Waste Revolving Fund, effective the fiscal year beginning July 1, 2025, by inserting a new Section 6.5.8 into the General Bylaws as follows: 6.5.8 Solid Waste Revolving Fund Funds held in the Solid Waste Revolving Fund shall be used to offset the cost of curbside trash & recycling collection, disposal of solid waste, replacement toters, and any other costs associated with the administration of the trash and recycling program that arise due to the sale of second toters and overflow bags, and shall be expended by the Director of Public Works, upon the recommendation of the Town Manager. Receipts credited to this fund shall include the sale of second toters and overflow bags for the disposal of solid waste. (2) Raise and appropriate, borrow, transfer from available funds or otherwise provide a sum or sums of money to pay the costs of acquisition, management, and distribution of rubbish and recycling barrels for residences currently on the municipal rubbish program, including the payment of any and all other costs incidental and related to thereto; or take any other action with respect thereto. Select Board Background: The Town's rubbish and recycling collection contract with Republic Services is set to expire in June 2026, and the rubbish disposal contract with Covanta is set to expire one year prior in June 2025. Both contracts are expected to see significant cost increases. Purchasing rubbish and recycling carts now for residences currently on the municipal rubbish program would align the Town with what many of Reading's peer communities already have in place and would prepare the Town for future automated rubbish and recycling collection. Purchasing the carts now would lessen the financial impact on the Town when the new collection contract is bid in 2026. During the public forums held, the Town heard significant concerns from residents about having RFID tags in the carts. Our team has spoken with the manufacturer of the carts about this. We learned that RFID tags are optional, and not required. In fact, we will see a modest reduction in cost, if the carts do not come with RFID tags. If this article is approved by Town Meeting, the Town is committed to ordering carts that come without RFID tags. Supplying these covered carts to households would greatly mitigate: rodent issues, rainfall accumulation issues with current residential rubbish containers, litter blowing around neighborhoods on collection days due to open top containers, as well as an improvement to the aesthetics of the Town on collection days. This proposal would provide (1) 64-gallon rubbish cart and (1) 64-gallon recycling cart to each residence currently receiving rubbish and recycling collection by the Town. Residents will be able to lease an additional rubbish cart at an annual cost of $200, paid to the Department of Public Works. Residents will also be able to purchase overflow bags at major retailers at a cost of $2 per bag, or $10 for a 5-bag roll. Revenues generated from the lease of rubbish barrels or overflow bags will be deposited on our Solid Waste Revolving Fund. Any revenues collected will be used to mitigate the future increases in cost of waste disposal with our trash transportation company or Covanta. The Department of Public Works is requesting $900,000 to purchase the rubbish and recycling carts for distribution to Reading households currently receiving Town collection services. If the Town approves this funding, approximately 7400 rubbish carts, and 7800 recycling carts would be purchased, and residents could expect delivery of the new carts in the Summer of 2024. Public Works is requesting more recycling carts than rubbish carts since recycling in Town Buildings and Schools is handled with carts; rubbish in Town Buildings and Schools is handled through dumpsters. Grants to supplement this funding request have been explored and are currently being applied for, but the outcome of those grants may not be known for at least several more months. In preparation for Town Meeting, the Town has held various public information meetings in Town Hall and the Pleasant Street Center. Finance Committee Report: At their meeting on ______, the Finance Committee voted ____ to recommend this Article to Town Meeting. Bylaw Committee Report: At their meeting on ______, the Bylaw Committee voted ____ to recommend this Article to Town Meeting. ARTICLE 8 To 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 of a fire department rear-, including the payment of any and all other costs incidental and related to thereto; or take any other action with respect thereto. Select Board Background: As part of the FY2022 Annual Budget and Capital Plan, the Town Meeting authorized the replacement of our ladder truck for the Reading Fire Department. Town Meeting authorized $1,300,000 for this purchase, based on a proposal received in 2021. At the time of order, the manufacturer notified our fire department that the ladder truck price had increased by $66,939 totaling $1,366,939. Our Town Manager reached out to our State Delegation and with their help, was able to secure a $50,000 earmark to lower the impact of this increase. The Reading Fire Department placed the order of this ladder truck in March 2022. In August 2023, the manufacturer notified our Fire Chief in writing that due to unforeseen circumstances directly related to supply chain issues and the global pandemic, they would not be able to supply the ladder truck at the price agreed to in March 2022. Our Fire Chief and Town Manager had several conversations with the manufacturer to understand the increase, and to negotiate this increase. The manufacturer documented the global supply chain impacts that led to this increase in cost of $130,000. The ladder truck in question is from 2008 and has exceeded its useful life. between July 1, 2020, to July 1, 2023, DPW has spent $71,496.81 on our existing ladder truck; this does not include delivery hours of our mechanics driving the vehicle to repair centers, nor does it account for lost productivity or downtime. The Reading Fire Department owns one ladder truck, and it is an apparatus that is critical to the ability to respond to the needs of our residents. Any life safety situation involving multi-story buildings requires a functioning ladder truck. Our Fire Chief and Town Manager explored several options to purchase the vehicle from other manufacturers. It was not clear whether other manufacturers would be able to provide the truck at a cheaper cost. It was abundantly clear that the other manufacturers could not deliver a truck within the next 12 months. If this funding is approved, the manufacturer has agreed to deliver the ladder truck to our Fire Department in May 2024, or earlier. The Fire Chief and Town Manager have negotiated the following concessions, the manufacturer will: 1. Extend the warranty on the ladder truck from 2 years to 3 years, giving one full year additional year of warranty. 2. Give the Town of Reading a $25,000 parts voucher, that the Town of Reading can use starting on July 1, 2024, and will be valid for 3 years, June 30, 2027. 3. Implement a delivery penalty of $100 penalty day if the unit is delivered after May 31, 2024. We received great news from our Facilities department on the Parker Roof Project. The project is now fully complete and has funds remaining that can be reallocated to another project. We confirmed with Bond Counsel that with Town Meeting approval, the remaining funds can be reallocated to fund the additional costs of this ladder truck, which are $130,000. Finance Committee Report: At their meeting on ______, the Finance Committee voted ____ to recommend this Article to Town Meeting. Bylaw Committee Report: No Report. ARTICLE 9 To 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 to build a municipal parking lot on Grove Street on the property purchased by the Town, commonly referred to as Lot 5, including the payment of any and all other costs incidental and related to thereto;or take any other action with respect thereto. Select Board Background: In November 2021, the Town Meeting approved the purchase of Lot 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. It is important to highlight that Lot 5 was approved by Town Meeting due to significant safety concerns with vehicle parking along Grove Street. The construction of this parking lot would greatly alleviate the safety concerns on Grove Street by removing vehicles and pedestrians from the street and into a dedicated parking area. The Town has gone out to bid for the construction of this parking lot. The low bidder was K&R Construction Company with a low bid of $170,000. In addition to construction, we would like to request the Town Meeting $10,000 for engineering and permit close-out cost and $20,000 for contingency in case any incidentals or unknowns arise during construction. This will bring the total funding request to $200,000 for this project. Any unspent funds will be returned to the general fund. Thanks to the work of our State Delegation, the Town received $150,000 in funding as part of a multi-billion-dollar COVID relief bill that utilized a combination of federal American Rescue Plan Act (ARPA) money and FY21 state budget surplus funds. This $150,000 earmark was to assist the Town of Reading with the acquisition and development of a parcel of land off Grove Street on the Meadow Brook Country Club property. Unfortunately, the Town could not get the design and permitting done in time to use the earmark to cover construction costs. We used $54,000 of the from the earmark funds for the engineering work required to design and complete permitting for the parking lot. The remainder of the earmark was used to offset the original purchase of the lot, thus resulting in $96,000 of the original appropriation to purchase the property to close to Free Cash. The request to Town Meeting is to appropriate $200,000 from Free Cash to fund the construction of this parking lot. Finance Committee Report: At their meeting on ______ the Finance Committee voted _____ to recommend this Article to Town Meeting. Bylaw Committee Report: No report. ARTICLE 10 To 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 of roadway and sidewalk improvements, including the payment of any and all other costs incidental and related to thereto; or take any other action with respect thereto. Select Board Background: The Town of Reading has a pavement management system based on road condition data updated in 2021. The pavement management system gives the Town a picture of existing roadway infrastructure conditions and a dollar estimate to improve roads in poor condition while protecting those pavements currently in good condition. The Pavement Management System being implemented by the Town is a planning tool, with primary functions of determining the funding levels required to achieve Town-wide condition goals and to identify candidate road projects to achieve those goals. The Town currently maintains approximately 92 miles of public roadways which has an average Pavement Condition Index (PCI) of 78. Thepurpose of this article is to request additional funds to alleviate inflation as it relates to the road paving program. As we have seen in the last few years inflation has drastically increased driving up the liquid asphalt prices, trucking, and labor rates. As a result, the Town can no longer repair as many roads as it did in previous years. Chapter 90 funding and $425,000.00 of local funding. This equates to a budget of approximately $1,000,000 per year. Based on budget projections from pavement management software the current funding level of $1,000,000 per year shows a decrease in the overall PCI score over the next ten years. A budget of $1,300,000 per year is projected to maintain town-wide pavement conditions over the next ten years. This article seeks to increase the local funding level by $300,000 utilizing the 40R Incentive Account. Below is a graph showing the Budget Analysis and PCI Projections. Finance Committee Report: At their meeting on ______, the Finance Committee voted ____ to recommend this Article to Town Meeting. Bylaw Committee Report: No Report. ARTICLE 11To see if the Town will vote toaccept the provisions of Section 19Kof Chapter 41of the Massachusetts General Laws, which authorizes additional compensation for a Town Clerkwhohas been awarded a certificate by the Massachusetts Town Clerks' Association as a certified Massachusetts municipal clerk, an amount equal to 10 per cent of such regular annual compensation, but not more than $1,000 per year; to qualify for such additional compensation, aTown Clerk shall submit to the Select Board proof of the award of thecertificate; or takeany other action with respect thereto. Select Board Background:Massachusetts General Laws (MGL) allows Towns to give additional compensation not to exceed $1,000 to Town Clerks who are a certified Municipal Clerk. The Massachusetts legislature views this designation as a benefit to the operations of Towns, by ensuring consistent operation in critical functions such as vital records and elections, among many others. The additional compensation serves as an incentive for Town Clerks to pursue training to help them become more specialized in their field. To qualify for Town Clerk certification a person must be an incumbent town clerk at the time of application, be a full member of the association for a minimum of 3 years, subscribe to the code of ethics of the Town Clerks Associations, and complete the course work prior to passing the examination. The Town Clerk must also continue the course work to maintain the certification throughout their tenure. The skills to be learned through the certification process cannot be gained through a college academic setting. Finance Committee Report: No report. Bylaw Committee Report: At their meeting on ____, the Bylaw Committee voted ___ to recommend this Article to Town Meeting. ARTICLE 12 To see if the Town will vote to transfer from the Reading Ice Arena Funds Account 4715 a sum or sums of money not to exceed $200,000 to pay to build eight (8) temporary, outdoor pickleball courts on the land adjacent to the Burbank Ice Arena off Symonds way, subject to successful negotiations of lease with the Burbank Ice Arena Authority and obtaining any required permits, or take any other action with respect thereto. Citizens Petition Background: The temporary courts would be on land leased to the Burbank Ice Arena Authority through a long-term lease and will provide a much-needed recreation facility to relieve the resource constraints of the current dual use courts at Memorial Park and the sub-standard courts in the Birch Meadow complex. The courts are temporary because the town may want to use this location for other uses in the future. The Birch Meadow Master Plan Phase 2 included 8 dedicated, lighted courts that would have replaced the sub-standard courts. These courts were removed from the phase 2 plan in June. The courts proposed for the Symonds Way location would replace the courts removed from the phase 2 plan and would be located where there would be minimal neighborhood impact. The Reading Pickleball Players Association will purchase nets, benches and appropriate interior fencing to make the temporary courts fully functional at an anticipated cost of approximately $16,000. These materials could be moved to a permanent location if the courts need to be moved. We request that Town Meeting approve that $200,000 be funded from the Burbank Ice Arena revolving fund. Finance Committee Report: No report. Bylaw Committee Report: No report. 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 November 13, 2023, 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 due return 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 ___________, 2023. _______________________ Jacqueline McCarthy, Chair _______________________ Mark L. Dockser, Vice Chair _______________________ Karen Gately Herrick, Secretary _______________________ Carlo Bacci _______________________ Chris Haley SELECT BOARD OF READING _______________________________ , Constable Town of Reading Meeting Minutes 2016-09-22 LAG Board -Committee -Commission -Council: Finance Committee Date: 2023-09-20Time: 7:00PM Building: Reading Public LibraryLocation: Community Room Address: 64 Middlesex AvenueSession: Open Session Purpose: Financial ForumVersion: Draft Attendees:Members -Present: Chair Ed Ross, Vice Chair Joe Carnahan, Geoffrey Coram, Endri Kume, Joe McDonagh (7:06 pm), Marianne McLaughlin-Downing, Emily Sisson,John Sullivan,Mark Zarrow Members -Not Present: Others Present: Chief Financial Officer Sharon Angstrom, Town Manager Fidel Maltez, DPW Director Jane Kinsella(remote), Assistant DPW Director Chris Cole(remote), Facilities Director Joe Huggins(remote), Assistant Facilities Director Kevin Cabuzzi(remote), School Superintendent Tom Milaschewski, School Finance Director Derek Pinto; Select Board Members: Mark Dockser, Chris Haley, Karen Gately Herrick (remote), CarloBacci (remote 7:27 pm); Carla Nazzaro, Tom Wise, Mike Carroll(remote), Suzanna Yeung(remote); Rebecca Bailey (remote), Christopher p lane (remote), Ben Ream (remote), Bob Rio (remote), Eileen Manning, Angela Binda,Karen Janowski,Maryann Devlin Minutes Respectfully Submitted By:Jacquelyn LaVerde Topics of Discussion: This meeting was held in-person in theLibrary Community Room, and remotely via Zoom. Chair Ed Ross called the meeting to order at 7:02pm. Select Board Vice Chair Mark Dockser called the Select Board to order at 7:05 pm. Killam School Presentation: Killam School Building Committee Chair Carla Nazzaro briefly summarized the work of the KSBC to date. Colliers was selected as the Owners Project Manager (OPM), and the Committeeis targeting a more aggressive scheduleproposed by the MSBA. The Request for Proposals (RFP) for DesignerServices went out last week, and applications are due October th 11. The Design Selection Committee, which consists of three members from the district: School Superintendent Tom Milaschewski, Town Manager Fidel Maltez, and KSBC Chair Carla Nazzaro, and members of theMassachusetts School Building Authority (MSBA) willinterview and vote on a selected designer. Once the designer is on board, community involvement will begin. Page | 1 Mike Carroll, Project Director with Colliers, provided a general overview of the MSBA process. He presented the key personnel from Colliers who will be supporting the Town through the process, the MSBA modules, and the proposed schedule. Colliers will support the Town through the designer selection process and conduct reference checks on applicants prior to review with the MSBA. The Town representatives, along with the MSBA selection committee, will short-list three or four applicants, conduct interviews, and choose a designer. A contract with the chosen designer should be signed by the end of November. Once the designer is on board, the feasibility study and schematic design will begin. Financial Updates: Revenue Update Chief Financial Officer Sharon Angstrom began with the projected FY25 revenues. Property taxes are projected to increase 1.9%, which looks low due to the 52.4% decrease in excluded debt, as the High School and Wood End School will be paid off. Baseline levy increases 3.7%. There is no increase to new growth. Abatements and exceptions increase 2.5%. Other projections include other local revenues to increase 11.2%, state aid to increase 2.5%, and other sources to increase 1.8%, which include indirect costs charged to enterprise funds and RMLD earnings distribution. Free Cash is to be determined. Free Cash Update Fiscal Year 23 free cash is not yet certified, but is estimated to come in around $19.32 million. In FY23, there was regeneration of $4.59 million in revenues over budget, and $1.72 million in expenses under budget. There was $6.57 million of free cash used including $3.28 million to support the FY23 operating budget, $2.2 million for the Killam feasibility study, $300,000 for modifying the FY23 budget at November Town Meeting, and $414,000 that was moved back into the Smart Growth Stabilization Fund. FY25 Accommodated Costs Compared to FY24, FY25 accommodated costs increase overall 2.1%, which includes: 5.8% increase in benefits, 12.8% decrease in capital and debt, 11.9% increase in energy costs, 3.4% increase in financial, 4% increase in education and out-of-district special education, 26.1% increase in Vocational education due to a capital add of approximately $200,000, and 2.3% in miscellaneous and community priorities which includes $150,000 for full-day kindergarten. FY25 Operating Budgets under Free Cash Scenarios/Discussion on Free Cash Usage in FY25 Budgets Ms. Angstrom presented figures comparing Free Cash usage to achieve certain levels of an operating budget. FY25 was agreed to be the last year to include an extra $700,000 of Free Cash for capital. The Committee discussed the Free Cash scenarios presented, and Ms. Angstrom explained the process of building the budget. Total free cash usage to support the operating budget last year was 4%. Mr. Ross stated that he would be inclined to support using $3.89 million to $4.08 million to support the FY24 budget. Mr. Kume expressed agreement with using $3.89 million. Mr. Coram noted that free cash is in good shape, and the Committee might consider using the higher range of $4.08 million, due to higher inflationary pressure. Mr. Carnahan noted that using $4.08 million would still leave the reserves above the 7% reserve policy. The Committee will vote on their recommendation on Free Cash use to support the FY24 budget at their next meeting. FY25 School Finance Overview: School Superintendent Tom Milaschewski introduced the new School Director of Finance, Dr. Derek Pinto. Dr. Pinto provided a preview of the Schools FY25 budget development process and highlighted budget goals, including creating a sense of belonging for students, delivering rigorous instruction, and maximizing resources. The big priority is meeting contractual obligations with the five bargaining units, as current contracts expire at the end Page | 2 of FY24. Meetings with the bargaining units are alreadyunderway. He outlined the Multi- Year Vision of the budget process that includes a review of the FY23 end of year status, looking at the current projected expenses and fund balanced to ensure that they are on track, maximizing funding sources while managing expenses, and engaging stakeholders. The department is early in the budget process now and will present it to the School Committee in January. Presentation by Pickleball Players Association on Potential Citizens Petition for Burbank Ice Arena: Eileen Manning, board member of the Reading Pickleball Players Association (RPPA), reviewed the mission and work of the RPPA, the growth of the sport, and current constraints and availability of pickleball courts in Reading. There are currently four dual lined courts, for tennis and pickleball, at Memorial Park. There were courts at Birch Meadow that were removed in June, and plans to add pickleball courts to Birch Meadow phase two were eliminated. There are no current plans to replace the courts anywhere in Town, nor are any courts included in the capital plan. The only identified location for courts, due to available space and distance from homes is on Symonds Way, adjacent to the Burbank Ice Arena. The Ice Arena Authority made a preliminary offer to use a part of their parking lot for Pickleball courts. There is a Citizens Petition going before November Town Meeting that requests $200,000 to build temporary Pickleball courts in the parking lot behind the Ice Arena on Symonds Way. The Symonds Way Exploratory Committee (SWEC) has issued a Request for Information (RFI) for potential development of the entire Symonds Way area that is owned by the Town. There was a lengthy discussion on the Pickleball proposal. Several individuals, including members of the Finance Committee, Select Board, and SWEC expressed hesitation to support the proposed warrant article until SWEC has received and reviewed responses to the RFI, and completed its work by delivering its recommendation to the Select Board before the end of the year, as charged. Others voiced their support given the overwhelming demand in the community. On a motion by Mark Dockser, seconded by Chris Haley, the Select Board voted 4-0-0 to adjourn at 9:50 pm. Roll call vote: Carlo Bacci Yes, Karen Gately Herrick Yes, Chris Haley Yes, Mark Dockser Yes. Future Meeting Agendas: th At the next meeting on October 11, the Finance Committee will discuss recommendations and guidance for the FY25 budget and vote on the 2024 Subsequent Town Meeting Warrant Articles. th There will be a second Financial Forum on October 25, which will include an Economic Development Summit with the Economic Development Director and Senator Jason Lewis, and the Community Development Director will provide an update on MBTA Communities. The Committee will also discuss the Community Preservation Act (CPA). Approve Prior Meeting Minutes: On a motion by Emily Sisson, seconded by Joe Carnahan, the Finance Committee voted 7-0-2 to approve the meeting minutes of August 23, 2023, as presented, with Endri Kume and Mark Zarrow abstaining, as they were not present at that meeting. On a motion by Emily Sisson, seconded by Joe Carnahan, the Finance Committee voted 9-0-0 to adjourn at 10:00 pm. Page | 3