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Home My WebLink About2023-08-23 Finance Committee Packet Town of Reading Meeting Posting with Agenda 2018-07-16LAG Board -Committee -Commission -Council: Finance Committee Date: 2023-08-23Time: 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 the meetings 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/85219318170 Meeting ID: 852 1931 8170 One tap mobile +16465189805,,85219318170# US (New York) +16465588656,,85219318170# US (New York) Dial by your location Find your local number: https://us06web.zoom.us/u/kbT0D9qfLK AGENDA: 1.Liaison Reports 2.Finalize Liaison Assignments 3.Introduction to School Director of Finance and Operations, Dr. Derek Pinto 4.FY23 Free Cash Estimate Discussion 5.Trash and Recycle Barrel Discussion 6.Update on Grove Street Lot 5 7.Preview of November Town Meeting 8.Financial Forum Planning 9.Future Agendas 10.Approve 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 FINANCE COMMITTEE LIAISON ASSIGNMENTS - FY24 (DRAFT) NAMELIAISON ASSIGNMENTS Audit Committee Chair Killam School Building Committee Ed Ross ('22-'25; '28) Select Board Select Board Vice Chair Public Works Joseph Carnahan ('24; '33) Facilities Schools & School Committee Geoffrey Coram ('21-'24; '32) Public Safety Select Board Schools & School Committee Marianne Downing ('23-`26; '32) Charter Review Committee RMLD Administrative Services Endri Kume (`24; `33) Public Works RMLD Library & Library Trustees Joseph McDonagh ('22-'25; '31) Ice Arena Public Services/Community Services Symonds Way Exploratory Committee Emily Sisson ('22-'25; '31) Public Safety Public Services/Community Development John Sullivan (`23-`26; `32) Reading Center for Active Living Committee Audit Committee Mark Zarrow ('23-'26; '29) Permanent Building Committee To contact the Finance Committee, email:finance@ci.reading.ma.us Administrative Services1 Audit Committee2 Facilities1 Killam School Building Committee1 1 Library & Library Trustees Permanent Building Committee1 Public Safety2 Public Services/Community Development1 Public Services/Community Services1 Public Works1 RMLD2 2 Schools & School Committee Select Board3 *Departments are underlined Town of Reading FINCOM August 23, 2023 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 2.99.931.692.613.81 Expenses under 3.202.943.032.481.65 budget Use of Free Cash -1.0-4.13-2.95-3.67-6.57 Other Adj. to Free -.56-.59-1.2.78-.36 Cash Certified Bal at 6/30 $15.64$14.79$17.73$19.93$18.46 Est. Reserves August 2023 Estimated Free Cash 6/30/23 $18,460,044 General Stabilization Fund$ 1,800,301* FINCOM Reserves$ 200,000 TOTAL$ 20.46 million ~17.2% of est. $118.9 mil. FY25 projected revenue FINCOM 7% Minimum Reserves Policy *total excludes funds designated for specific purpose Reserves vs 7% Min. Reserve Certified "Free Cash" & Stabilization vs 7% Min Reserve (Amounts Expressed in Thousands) $25,000.00 $20,000.00 $15,000.00 $10,000.00 $5,000.00 $- FY13FY14FY15FY16FY17FY18FY19FY20FY21FY22Est FY23 Free Cash & Stab 7% Min Reserves Reserves as a Percentage of Budget Free Cash and Stabilization as a % of Budget $25,000.0025.00% $20,000.0020.00% $15,000.0015.00% $10,000.0010.00% $5,000.005.00% $-0.00% FY13FY14FY15FY16FY17FY18FY19FY20FY21FY22FY23 Free Cash & Stab % of Budget Town of Reading Town Supplied Trash and Recycle Barrels November 2023 Town Meeting Request Article 7, Allocate $900,000 from Free Cash to Trash and Recycle Barrels Each home will receive: One (1) 64-Gallon Trash Barrel One (1) 64-Gallon Recycle Barrel Roll-out will take place Summer 2024 year, paid to the DPW annually, not prorated Homes can receive one additional recycle barrel at no cost Residents can purchase overflow bags at retailers for $2/bag DPW will work with residents who need smaller barrels on a case-by-case basis Why are we having this conversation? In October 2022, Republic Services purchased JRM, our trash contractor. Service was severely impacted for several weeks We have learned that all trash companies demandautomated collection from customers What would a new contract cost? Vendor 1$ 2,140,430 Vendor 2$ 2,354,195 Vendor 3$ 2,340,000 Vendor 4*$ 1,850,600 AVERAGE$ 2,171,306 CURRENT COST: $1,181,384 contract expires June 30, 2026 All six companies required automation, manual collection: not an option We foresee a large increase in solid waste costs with our next contract Are we unique with this concern? Figures shared by Westford, MA: April 2023 Town Meeting Article 13, Borrowing $900,000 for Trash and Recycle Barrels Town Meeting Voted: 93 in the affirmative, 62 in the negative Article 2/3rds Required, 10 votes short Town Meeting Asked: Why do we need to do this now? Would we charge for an extra barrel? How much? Where will the money go? Will we provide smaller barrels? Other questions? Why do this now? We heard loud and clear: manual collection is not an option! Automated collection is safer, fewer employee injuries More cost effective and will result in lower costs to the Town Rolling out now will make the Town bid more attractive Barrel costs will only continue to go up In Summary: 1. Cheaper to do it now 2. Will make our bid more competitive 3. Will give us plenty of time to work out the issues 4. Will give residents better products and services Would we charge for an extra barrel? Town will provide one 64-gallon for trash per household Residents to pay $200 per yearfor a second trash barrel, this is to cover solid waste transportation and disposal cost Town will provide one 64-gallon for recycling per household, second recycle barrel provided at no-cost Other Communities: 1.Bedford $185/year 2.Burlington $150/year 3.Wakefield $150/year 4.Wilmington $150/year 5.Tewksbury $155/year 6.Methuen $100/year 7.Belmont $250/year 8.Lynn $132/year 9.Milton $156/year (prices do not include any annual trash fees) What will we do with the revenue? All revenues from second barrels & overflow bags will be placed in a Revenues will be collected and only used to offset future solid waste costs Appropriations can only be done by Town Meeting and require a 2/3 majority vote Town Accountant will report annually the amount in the fund Fund will offset rising future costs Will we provide smaller barrels? Yes! The Town will provide smaller, 32-gallon barrels to older residents on a case-by-case stores like Market Basket Other Questions: Will my trash be tracked?No, the barrels come with RFID chips, but they are only used at distribution to verify each home received a barrel Town will have a choice, all communities will be automated Is the Town making money on this?No, any additional costs will be used to offset future costs and must be approved by Town Meeting A barrel is a tool for automation and for control of our solid waste program, the Town will lose control if barrels are not standardized and issued by the Town Any other questions? Next Steps: Present to Finance Committee Present to Select Board Host Public Forum on Trash Collection Hold Lunch & Learn at Senior Center Demonstration of Trash Barrels at Community Events Any other steps? 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 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 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 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 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 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 Complex , including but not limited to, the reconstruction of a municipal 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 \[Select Board or such other Board or Committee responsible for maintenance and preservation of park lands\]; (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 ARTICLE 7 To see if the Town will take the following actions: (1)Pursuant to G. L. c. 44, § 53E½, adopt a new revolving fundcalled 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 ARTICLE 8 To see if the Town will vote to adopt a new Snow Removal Bylaw by: (1) Inserting a new Section 8.15 into the General Bylaws, as follows: 8.15 Clearing of Public Sidewalks 8.15.1 Removal Requirement The owner or manager of any property abutting a sidewalk of a public way in the cause the portion of said sidewalk abutting their property to be maintained in a non- slippery condition, suitable for pedestrian travel, by clearing any slush, loose, granular, or packed snow, and ice for the portion of the paved sidewalk abutting their property. Removal of slush, snow, and ice shall be conducted in a manner that clears the full paved path or a minimum of forty two (42) inches wide, whichever is less, unless otherwise specified herein. Slush, snow and ice shall be removed by plowing, shoveling, scraping or other methods in such a manner as to not damage the sidewalk, and shall be performed within the first (4) four hours between sunrise and sunset after such slush, snow and ice has come upon such sidewalk. In the event of an unusually heavy snowfall, the time limit may be extended at the discretion of the Director of Public Works or their designee. 8.15.2 Handicapped Ramps Handicapped access ramps located within a sidewalk of a public way shall be cleared to the full extent of the width and length of the main slope, curb ramps, landings and side slopes. 8.15.3 Maintenance When necessary, the owner or manager shall maintain said portion of cleared sidewalk in a non-slippery condition by application of agents designed for such purposes, provided said agent is approved by the Director of Public Works. The Director of Public Works shall annually cause a list of such approved agents to be published on the apply any agent to the sidewalk which does not appear on the approved list without written permission from the Director of Public Works or their designee. 8.15.4 Enforcement In addition to any other means of enforcement, the provisions of this bylaw and the regulations adopted pursuant thereto may be enforced by non-criminal disposition in accordance with the provisions of Section 1.8 of this bylaw, and MGL Chapter 40 Section 21D. Every calendar day upon which such violation exists shall be considered a separate offense; provided, however, that the offense count shall restart each fiscal year. (2) Inserting a new line into Section 1.8 of the General Bylaws, as follows: Bylaw Bylaw Title Enforcing Person Penalty- Penalty- Penalty- Section First Second Additional Offense Offense Offences 8.15 Clearing of Director of Public $100 $200 $200 Public Works; Police Sidewalks Department or take any other action with respect thereto. Bylaw Committee ARTICLE 9 To see if the Town will vote to accept the provisions of Section 19K of Chapter 41 of the Massachusetts General Laws, which authorizes additional compensation for a Town Clerk who has 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, a Town Clerk shall submit to the Select Board proof of the award of the certificate; or take any other action with respect thereto. Select Board ARTICLE 10 To see if the Town will vote to accept the provisions of Section 9 D½ of Chapter 32B of the Massachusetts General Laws, which authorizes the Town to pay an additional amount above 50% for the health care premium cost for the surviving spouse of an employee or retired employee for group general or blanket hospital, surgical, medical, and other health insurance pay an additional or subsidiary rate. Select Board 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 Capital Improvement Plan (CIP) 8/16/2023 16:05 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 100,000 120,000 120,000 130,000 125,000 150,000 150,000 150,000 150,000 150,000 150,000 1,795,000 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 150,000 - 1,150,000 435,000 735,000 71,000 1,840,000 165,000 350,000 620,000 - 5,516,000 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 525,000 515,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 - 3,440,000 Public Works - Roads 1,185,000 1,225,000 655,000 775,000 845,000 910,000 900,000 975,000 950,000 950,000 - 9,370,000 TOTAL CAPITAL REQUESTS 4,493,000 3,055,000 3,188,000 3,219,500 3,662,000 4,118,000 4,025,000 4,540,000 4,832,000 3,340,000 320,000 41,978,500 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 691,694 695,688 1,387,382 Emergency cuts - Additional Funding Sept TM - Additional Funding Nov TM 1,555,000 1,555,000 Additional Funding April TM - TOTAL CAPITAL REQUESTS 4,493,000 3,055,000 3,188,000 3,219,500 3,662,000 4,118,000 3,732,500 4,540,000 4,832,000 3,340,000 320,000 41,066,000 Capital & Debt Policy7.00%5.59%5.00%5.00%5.00%5.00%5.00%5.00%5.00%5.00%5.00% Annual Surplus (Deficit) - - - - - - - - 12,278 2,393,090 5,793,601 Cumulative Surplus (Deficit) - - - - - - - - 12,278 2,405,367 8,198,968 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) 8/16/2023 16:05 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. 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) Capital Improvement Plan (CIP) 8/16/2023 16:05 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) 8/16/2023 16:05 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) 8/16/2023 16:05 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 100,000 120,000 120,000 130,000 125,000 150,000 150,000 150,000 150,000 150,000 150,000 1,445,000 Water Tank Town telco equip replace/relocate - Remote access multi factor authentication - Internal segmentation firewall - GIS flyover - planimetrics - Technology projects 100,000 120,000 120,000 130,000 125,000 150,000 150,000 150,000 150,000 150,000 150,000 1,445,000 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) 8/16/2023 16:05 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 - Pickleball Cts, 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 150,000 - 1,150,000 435,000 735,000 71,000 1,840,000 165,000 350,000 620,000 6,016,000 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 Capital Improvement Plan (CIP) 8/16/2023 16:05 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 (2005 - 10yrs) 65,000 Passenger Car#2 (2009 - 10yrs) 65,000 65,000 Passenger Car#3 (2018 - 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 Trucks 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) 75,000 75,000 C-04 Dump Truck C2 (2012) 70,000 70,000 H-05 Small Dump Truck #7 (2012) 65,000 65,000 H-06 Aerial Pickup Truck #14 (2017) - H-07 Truck #10 (2018) 240,000 240,000 H-08 Truck #9 - Sander (2017) 250,000 250,000 H-09 Truck #8 - 10 wheeler (2016) 245,000 245,000 H-10 Truck #22 -Sander (2015) 240,000 240,000 Capital Improvement Plan (CIP) 8/16/2023 16:05 FY-2024FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY24-33 H-11 Truck #4 - Sander (2014) 235,000 235,000 H-12 Truck #16 - Sander (2011) 220,000 220,000 H-14 Truck #3 - Sander (2010) 215,000 215,000 H-15 Truck #5 (2008) 200,000 200,000 H-16 Truck # 7 (2008) 240,000 240,000 H-17 Truck # 11 (2008) 240,000 240,000 H-18 Truck #19 - Sander (2007) 240,000 240,000 H-19 Truck #18 - Sander (2006) 240,000 240,000 P-03 Dump truck #24 Parks (2017) 62,000 62,000 P-04 Dump truck #12 Parks (2015) 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) 60,000 60,000 C-06 Cem. #4 Ford Sedan (2006) 40,000 40,000 CAR 1 Ford Escape (2016) 54,000 54,000 CAR 2 Car #3 Ford Escape HYBRID (2008) 55,000 55,000 E-01 Chevy Traverse (2019) - F-02 Pickup Chevy #9 Parks (2011) 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) 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) - H-20 Loader JD 624 (2020) - H-21 Loader JD 624 (2017) - Loader to replace Sicard 280,000 280,000 H-22 Backhoe JD 710L HWY (2020) - H-23 Bobcat Loader (2015) - P-05 Ventrac tractor (2020) - P-06 Tractor JD4520 (Parks) (2012) 80,000 80,000 Specialty Equipment - Heavy Duty - 250,000 - - 230,000 113,000 - - - - 988,000 F-04 Bucket Truck #21 Forestry (2009) - F-05 Chipper/LoaderTruck #23 (2008) 210,000 H-24 Forklift (2016) - Capital Improvement Plan (CIP) 8/16/2023 16:05 FY-2024FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY24-33 H-25 Crawler Dozer (2003) - H-26 Snow Primoth SW4S (2016) 113,000 113,000 H-27 Snow Trackless (2015) 180,000 180,000 H-28 Snow Holder #1 c992 (2015) 185,000 H-29 Snow Holder #2 c480 (2013) - H-31 Leeboy Pavement Sprd (2014) - 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) - 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) 30,000 30,000 C-15 SKAG Leaf Vac (Cem) (2015) 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) - 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) - 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) 8/16/2023 16:05 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 525,000 515,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 3,640,000 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 150,000 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 925,000 425,000 455,000 525,000 545,000 560,000 550,000 575,000 550,000 550,000 6,085,000 TOTAL GENL FUND VOTED - ROADS 1,185,000 1,225,000 655,000 775,000 845,000 910,000 900,000 975,000 950,000 950,000 - 10,495,000 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 1,785,000 1,825,000 1,255,000 1,375,000 1,445,000 1,510,000 1,500,000 1,575,000 1,550,000 1,550,000 17,095,000 Capital Improvement Plan (CIP) 8/16/2023 16:05 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) Town of ReadingProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjected Debt Service ScheduleFY - 2024FY - 2025FY - 2026FY - 2027FY - 2028FY - 2029FY - 2030FY - 2031FY - 2032FY - 2033FY - 2034FY - 2035FY - 2036FY - 2037FY - 2038FY - 2039 8/16/23 16:05 General Fund:6,066,8064,818,0382,958,2753,104,8502,853,1752,592,1503,180,8502,574,5502,487,8001,818,9501,665,0001,417,5001,380,0001,172,500856,400833,200 Principal5,220,0003,900,0002,200,0002,365,0002,225,0002,070,0002,625,0002,120,0002,120,0001,520,0001,420,0001,220,0001,220,0001,050,000760,000760,000 Within Levy Limit2,692,2002,665,0002,200,0002,365,0002,225,0002,070,0002,625,0002,120,0002,120,0001,520,0001,420,0001,220,0001,220,0001,050,000760,000760,000 Excluded Debt2,527,8001,235,00000000000000000 Interest846,806918,038758,275739,850628,175522,150555,850454,550367,800298,950245,000197,500160,000122,50096,40073,200 Within Levy Limit688,494873,338758,275739,850628,175522,150555,850454,550367,800298,950245,000197,500160,000122,50096,40073,200 Excluded Debt158,31244,70000000000000000 Within Levy Limit 3,380,6943,538,3382,958,2753,104,8502,853,1752,592,1503,180,8502,574,5502,487,8001,818,9501,665,0001,417,5001,380,0001,172,500856,400833,200 Issued3,043,1942,513,3381,965,7751,889,8501,679,1751,609,1501,539,350979,750939,700317,550310,300304,500298,700292,90000 Approved not issued (ANI)337,500325,000312,500300,000287,500125,000120,000115,000110,000105,000000000 Not yet approved (NYA)0700,000680,000915,000886,500858,0001,521,5001,479,8001,438,1001,396,4001,354,7001,113,0001,081,300879,600856,400833,200 Excluded Debt 2,686,1121,279,70000000000000000 Issued2,686,1121,279,70000000000000000 Approved not issued (ANI) Not yet approved (NYA) Debt Summary Inside Tax Levy3,380,6943,533,3382,953,2753,099,8502,848,1752,587,1503,175,8502,569,5502,270,3001,609,9501,469,5001,230,5001,201,5001,172,500856,400833,200 Energy/Safety Improvements1,242,8311,196,813831,875803,125774,375740,750712,250340,750327,700317,550310,300304,500298,700292,90000 School Buildings1,477,7131,005,575969,5251,183,600999,425960,7751,609,2251,405,6751,150,100652,400639,200626,000612,800599,600586,400573,200 Town Buildings182,250175,750164,375158,125151,875145,625139,375133,125127,5000000000 Community Improvements477,9001,155,200987,500955,000922,500740,000715,000690,000665,000640,000520,000300,000290,000280,000270,000260,000 Excluded From Tax Levy2,686,1121,279,70000000000000000 Energy/Safety Improvements0000000000000000 School Buildings1,357,012000000000000000 Town Buildings1,329,1001,279,70000000000000000 Community Improvements0000000000000000 Town of ReadingProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjected Debt Service ScheduleFY - 2024FY - 2025FY - 2026FY - 2027FY - 2028FY - 2029FY - 2030FY - 2031FY - 2032FY - 2033FY - 2034FY - 2035FY - 2036FY - 2037FY - 2038FY - 2039 8/16/23 16:05 Principal + Interest Within Levy Limit 3,380,6943,538,3382,958,2753,104,8502,853,1752,592,1503,180,8502,574,5502,487,8001,818,9501,665,0001,417,5001,380,0001,172,500856,400833,200 Issued3,043,1942,513,3381,965,7751,889,8501,679,1751,609,1501,539,350979,750939,700317,550310,300304,500298,700292,90000 Approved not issued (ANI)337,500325,000312,500300,000287,500125,000120,000115,000110,000105,000000000 Not yet approved (NYA)0700,000680,000915,000886,500858,0001,521,5001,479,8001,438,1001,396,4001,354,7001,113,0001,081,300879,600856,400833,200 Bldng Security $4mil/10yr446,100427,000413,000399,000385,000371,000357,000 Bldg Energy Improv I $5m/15yr348,356336,188 Bldg Energy Improv II $5m/15yr448,375433,625418,875404,125389,375369,750355,250340,750327,700317,550310,300304,500298,700292,900 Killam Green Repair Birch Mdw Green Repair RMHS Turf II $2.225mil/10yr201,400195,000188,600182,200175,800169,400158,100 RMHS Turf I $3.0mil/10yr359,625346,875334,125321,375303,750291,250278,750266,250255,000 RMHS Fieldhouse $1.7mil/5yrs255,000246,500238,000229,500221,000new RMHS/TLT $1.5mil/10yr156,600151,200145,800140,400 RMHS Ret. Wall $500k/5yr Parker MS Roof $2.7mil/10yr324,000312,500301,000284,625273,375262,125250,875239,625229,500 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/8yr153,000 Barrows/Wd End®29,942 Wood End®135,938 Barrows®117,208 Police Sta Improve $1.5mil/10yr182,250175,750164,375158,125151,875145,625139,375133,125127,500 West St. $1.3 mil140,400135,200 Comm. Sustainability $1.0mil/10yr150,000140,000135,000130,000125,000120,000115,000110,000105,000100,0000 Ec Dev Dwntn II $2.0mil/20yr400,000390,000380,000370,000360,000350,000340,000330,000320,000310,000300,000290,000280,000270,000260,000$5m bond bill 00000000 Haven St. Streetscape $750k/5yr187,500180,000172,500165,000157,5000000000000 0 Bch Mdow Phase II $2.0mil/10yr300,000290,000280,000270,000260,000250,000240,000230,000220,000210,000 Excluded Debt 2,686,1121,279,70000000000000000 Issued2,686,1121,279,70000000000000000 Approved not issued (ANI) Not yet approved (NYA) RMHS®1,312,500 Barrows/Wd End®40,560 Wood End®3,952 Library Project $10+mil1,080,0001,040,000 Library Project $2.115mil249,100239,700 Town of ReadingProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjected Debt Service ScheduleFY - 2024FY - 2025FY - 2026FY - 2027FY - 2028FY - 2029FY - 2030FY - 2031FY - 2032FY - 2033FY - 2034FY - 2035FY - 2036FY - 2037FY - 2038FY - 2039 8/16/23 16:05 Principal Within Levy Limit 2,692,2002,665,0002,200,0002,365,0002,225,0002,070,0002,625,0002,120,0002,120,0001,520,0001,420,0001,220,0001,220,0001,050,000760,000760,000 Issued2,442,2002,015,0001,550,0001,545,0001,405,0001,400,0001,395,000890,000890,000290,000290,000290,000290,000290,00000 Approved not issued (ANI)250,000250,000250,000250,000250,000100,000100,000100,000100,000100,00000 Not yet approved (NYA)0400,000400,000570,000570,000570,0001,130,0001,130,0001,130,0001,130,0001,130,000930,000930,000760,000760,000760,000 Bldng Security $4mil/10yr355,000350,000350,000350,000350,000350,000350,000 Bldg Energy Improv I $5m/15yr330,000330,000 Bldg Energy Improv II $5m/15yr295,000295,000295,000295,000295,000290,000290,000290,000290,000290,000290,000290,000290,000290,000 4,377,300 Killam Green Repair Birch Mdw Green Repair RMHS Turf II $2.225mil/10yr160,000160,000160,000160,000160,000160,000155,000 RMHS Turf I $3.0mil/10yr255,000255,000255,000255,000250,000250,000250,000250,000250,000 2,521,300 RMHS Fieldhouse $1.7mil/10yrs170,000170,000170,000170,000170,000170,000170,000170,000170,000170,000new RMHS/TLT $1.5mil/10yr 135,000 135,000 135,000 135,000 RMHS Ret. Wall $500k/5yr Parker MS Roof $2.7mil/10yr230,000230,000230,000225,000225,000225,000225,000225,000225,000 2,270,000 Coolidge MS Roof $3.7mil/10yr370,000370,000370,000370,000370,000370,000370,000370,000370,000370,000 move out 5yrs Birch Mdw ES roof $1.9mil/10yr190,000190,000190,000190,000190,000190,000190,000190,000190,000190,000 move out 5yrs ES Mod. class $1.2 mil/8yr150,000 Barrows/Wd End®28,790 Wood End®130,710 Barrows®112,700 Police Sta Improve $1.5mil/10yr130,000130,000125,000125,000125,000125,000125,000125,000125,000 1,261,400 West St. $1.3 mil130,000130,000 Comm. Sustainability $1.0mil/10yr100,000100,000100,000100,000100,000100,000100,000100,000100,000100,000 Ec Dev Dwntn II $4.0mil/20yr200,000200,000200,000200,000200,000200,000200,000200,000200,000200,000200,000200,000200,000200,000200,0003,000,000 Haven St. Streetscape $750k/5yr150,000150,000150,000150,000150,000 750,000 Bch Mdow Phase II $2.0mil/10yr200,000200,000200,000200,000200,000200,000200,000200,000200,000200,000 Excluded Debt 2,527,8001,235,00000000000000000 Issued2,527,8001,235,00000000000000000 Approved not issued (ANI) Not yet approved (NYA) RMHS®1,250,000 Barrows/Wd End®39,000 Wood End®3,800 Library Project $10+mil1,000,0001,000,000 Library Project $2.115mil235,000235,000 Town of ReadingProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjectedProjected Debt Service ScheduleFY - 2024FY - 2025FY - 2026FY - 2027FY - 2028FY - 2029FY - 2030FY - 2031FY - 2032FY - 2033FY - 2034FY - 2035FY - 2036FY - 2037FY - 2038FY - 2039 8/16/23 16:05 Interest Within Levy Limit 688,494873,338758,275739,850628,175522,150555,850454,550367,800298,950245,000197,500160,000122,50096,40073,200 Issued600,994498,338415,775344,850274,175209,150144,35089,75049,70027,55020,30014,5008,7002,90000 Approved not issued (ANI)87,50075,00062,50050,00037,50025,00020,00015,00010,0005,000000 Not yet approved (NYA)0300,000280,000345,000316,500288,000391,500349,800308,100266,400224,700183,000151,300119,60096,40073,200 Bldng Security $4mil/10yr91,10077,00063,00049,00035,00021,0007,000 Bldg Energy Improv I $5m/15yr18,3566,188 Bldg Energy Improv II $5m/15yr153,375138,625123,875109,12594,37579,75065,25050,75037,70027,55020,30014,5008,7002,900 1,131,367 Killam Green Repair Birch Mdw Green Repair RMHS Turf II $2.225mil/10yr41,40035,00028,60022,20015,8009,4003,100 RMHS Turf I $3.0mil/10yr104,62591,87579,12566,37553,75041,25028,75016,2505,000 630,025 RMHS Fieldhouse $1.7mil/10yrs85,00076,50068,00059,50051,00042,50034,00025,50017,0008,500new RMHS/TLT $1.5mil/10yr 21,600 16,200 10,800 5,400 RMHS Ret. Wall $500k/5yr Parker MS Roof $2.7mil/10yr94,00082,50071,00059,62548,37537,12525,87514,6254,500 566,302 Coolidge MS Roof $2.9mil/10yr87,00078,30069,60060,90052,20043,50034,80026,10017,4008,700 move out 5yrs Birch Mdw ES roof $1.5mil/10yr45,00040,50036,00031,50027,00022,50018,00013,5009,0004,500 move out 5yrs ES Mod. class $1.2 mil/8yr3,000 Barrows/Wd End®1,152 Wood End®5,228 Barrows®4,508 Police Sta Improve $1.5mil/10yr52,25045,75039,37533,12526,87520,62514,3758,1252,500 314,539 West St. $1.3 mil10,4005,200 Comm. Sustainability $1.0mil/10yr 50,000 45,00040,00035,00030,00025,00020,00015,00010,0005,000assume 5% Haven St. Streetscape $750k/5yr37,500 30,00022,50015,0007,500112,500 Ec Dev Dwntn II $4.0mil/20yr200,000190,000180,000170,000160,000150,000140,000130,000120,000110,000100,00090,00080,00070,00060,000assume 5% Bch Mdow Phase II $2.0mil/10yr100,00090,00080,00070,00060,00050,00040,00030,00020,00010,000 Excluded Debt 158,31244,70000000000000000 Issued158,31244,70000000000000000 Approved not issued (ANI) Not yet approved (NYA) RMHS®62,500 Barrows/Wd End®1,560 Wood End®152 Library Project $10+mil80,00040,000 Library Project $2.115mil14,1004,700 Water Enterprise Fund Capital Debt February 2022 Request Projected ==>Legend: DEBT (Issued); debtani (Approved, Not Issued) and debtna (not yet approved)FY23-44 Water Ent. Fund Capital & DebtFY-2023FY-2024FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY-2035FY-2036FY-2037FY-2038FY-2039FY-2040FY-2041FY-2042FY-2043FY-2044TOTAL Water Capital 550,000 295,000 375,000 525,000 340,000 300,000 270,000 335,000 300,000 306,000 318,000 222,000 150,000 290,000 490,000 150,000 175,000 175,000 175,000 295,000 - 6,036,000 Water Debt 2,855,697 2,955,700 2,635,500 2,362,325 2,529,000 2,599,217 2,182,633 2,121,300 2,062,617 1,689,109 1,349,151 1,155,818 866,885 840,452 814,019 787,586 761,153 734,720 703,337 479,004 110,000 35,419,576 Total Capital & Debt 3,405,697 3,250,700 3,010,500 2,887,325 2,869,000 2,899,217 2,452,633 2,456,300 2,362,617 1,995,109 1,667,151 1,377,818 1,016,885 1,130,452 1,304,019 937,586 936,153 909,720 878,337 774,004 110,000 - 45,468,306 Water CAPITAL 550,000 295,000 375,000 525,000 340,000 300,000 270,000 335,000 300,000 306,000 318,000 222,000 150,000 290,000 490,000 150,000 175,000 175,000 175,000 295,000 - - 6,036,000 MWRA ($3.18mil partial join)1 Debt DebtDebtDebtDebt - MWRA ($7.8mil full join)2 Debt DebtDebtDebtDebtDebt - Well Abandonment 225,000 225,000 Auburn Tank $4.5 mil/20yr 3 Debt DebtDebtDebtDebtDebtDebtDebtDebtDebtDebtDebtDebtDebtDebtDebtDebtDebtDebt - Auburn Tank $2.0 mil/20yr 3a BANBAN DebtniDebtniDebtniDebtniDebtniDebtniDebtniDebtniDebtniDebtniDebtniDebtniDebtniDebtni - Aub Tank used $0.5 mil EF rsrvs 3b 500,000 WM:Hvrhll&Howard ($2.05m)4 - WM(M):loan to be used 5 - WM(M) Ph 1 R#1 $4.012mil/10yr 6 Debt Debt - WM Ph 1 R#2 $1.165mil/10yr 7a Debt DebtDebtDebt - WM Ph 1 R#2 $3.106 mil/10yr 7b Debt DebtDebtDebtDebt - WM Grove St $1.0mil/5yrs 8 Debt DebtDebt - WM Gazebo $1.1mil/10yr 9 Debt DebtDebtDebtDebtDebtDebtDebtDebt - Water Main Repairs (WBrk #1) - Water Main Repairs 300,000 400,000 700,000 Emerson Ave WM 400,000 400,000 WM Downtown I $2.8 mil/10yr 10a Debt DebtDebtDebtDebtDebtDebtDebtDebt - WM(M) Downtown I $1.5mil 10b Debt DebtDebtDebtDebtDebtDebtDebtDebtDebt - WM(M) Downtown I $1.544mil 10c.DebtDebtDebtDebtDebtDebtDebtDebtDebtDebt - Lead Removal (M) $1.5mil 11 Debt DebtDebtDebtDebtDebtDebtDebtDebtDebt - Replace Meters $2.0mil/8yr 12 debtnadebtnadebtnadebtnadebtnadebtnadebtnadebtna - WM Downtown II $5.2 mil/15yr 13 debtnadebtnadebtnadebtnadebtnadebtnadebtnadebtnadebtnadebtnadebtnadebtnadebtnadebtnadebtna - Water Distribution Unidirectional Flushing Program 35,000 35,000 40,000 40,000 40,000 45,000 235,000 WM Lining Program 75,000 75,000 75,000 75,000 100,000 100,000 100,000 100,000 125,000 125,000 125,000 125,000 150,000 150,000 150,000 150,000 175,000 175,000 175,000 175,000 2,500,000 SCADA Upgrade (every 5 yrs) 150,000 50,000 75,000 75,000 75,000 425,000 Water Vehicles WS-01 Replace Pickup Truck #12 (2021) 67,000 67,000 W-02 Replace Pickup #15 (2020) 66,000 66,000 W-03 Replace Pickup Truck #3 (2021) 67,000 67,000 W-05 Replace Utility Truck #5 (2016) 200,000 200,000 W-06 Replace Truck #6 (2020) 265,000 265,000 W-07 Replace Truck #14 (2015) 240,000 240,000 W-10 Replace Cat 440 Backhoe (2019) 175,000 175,000 W-11 Replace CAT 430 Backhoe (2017) 170,000 170,000 W-12 Bobcat Skidsteer 100,000 100,000 W-14 Trailer signboard (2018) 19,000 19,000 W-15 Trailer signboard (2018) 19,000 19,000 W-16 Trailer signboard (2018) 19,000 19,000 W-17 Trailer signboard (2017) 19,000 19,000 W-18 Trailer light tower (2014) 10,000 10,000 W-20 Trailer (1999) 40,000 40,000 W-22 Generator Tow Behind (1994) - W-26 Trailer signboard (2020) 20,000 20,000 W-27 Trailer signboard (2020) 20,000 20,000 Engineering Vehicle (split w/ Swr) 35,000 35,000 Water Enterprise Fund Capital Debt February 2022 Request Projected ==>Legend: DEBT (Issued); debtani (Approved, Not Issued) and debtna (not yet approved)FY23-44 Water Ent. Fund Capital & DebtFY-2023FY-2024FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY-2035FY-2036FY-2037FY-2038FY-2039FY-2040FY-2041FY-2042FY-2043FY-2044TOTAL Water DEBT 2,855,697 2,955,700 2,635,500 2,362,325 2,529,000 2,599,217 2,182,633 2,121,300 2,062,617 1,689,109 1,349,151 1,155,818 866,885 840,452 814,019 787,586 761,153 734,720 703,337 479,004 110,000 35,419,576 Join MWRA(partial $3.18m)1 181,780 176,100 169,900 153,700 149,350 830,830 Join MWRA(full $7.8m) ®2 431,550 417,150 402,750 388,350 370,825 355,250 2,365,875 Auburn Tank $4.5 mil/20yr 3 333,025 322,775 312,525 302,275 292,025 281,775 271,525 261,275 252,050 244,875 239,750 235,650 231,550 205,000 205,000 205,000 205,000 205,000 200,000 - 4,806,075 Auburn Tank $2.0 mil/20yr 3a 29,917 47,000 200,000 195,000 190,000 185,000 180,000 175,000 170,000 165,000 160,000 155,000 150,000 145,000 140,000 135,000 130,000 125,000 120,000 115,000 110,000 105,000 3,126,917 WM:Hvrhll&Howard ($2.05m)4 - WM(M):loan to be used 5 - WM(M) Ph 1 R#1 $4.012mil/10yr 6 401,200 401,200 - - - - - - - - - - - 802,400 WM Ph 1 R#2 $1.165mil/10yr 7a 131,100 126,500 121,900 117,300 - - - - - - - - - 496,800 WM Ph 1 R#2 $3.106 mil/10yr 7b 372,000 359,600 347,200 334,800 322,400 - - - - - - - - 1,736,000 WM Grove St $1.0mil/5yrs 8 203,500 196,100 188,700 - - - - - - - - - - 588,300 WM Gazebo $1.1mil/10yr 9 133,475 128,725 123,975 119,225 114,475 104,850 100,350 95,850 91,800 - - - - 1,012,725 WM Downtown I $2.8 mil/10yr 10a 338,150 326,150 314,150 297,275 285,525 273,775 262,025 250,275 239,700 - - - - 2,587,025 WM(M) Downtown I $1.5mil 10b 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 - - - 1,500,000 WM(M) Downtown II $1.5mil 10b - 154,400 154,400 154,400 154,400 154,400 154,400 154,400 154,400 154,400 154,400 - - 1,544,000 Lead Removal (M) $1.5mil 11 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 1,500,000 Replace Meters $2.0mil/8yr 12 350,000 337,500 325,000 312,500 300,000 287,500 275,000 262,500 2,450,000 WM Downtown II $5.2 mil/15yr 13 606,667 589,333 572,000 554,667 537,334 520,001 502,668 485,335 468,002 450,669 433,336 416,003 398,670 381,337 364,004 7,280,030 Repayment of Principal: 2,367,200 2,520,600 2,219,400 2,019,400 2,149,400 2,031,067 1,681,067 1,681,067 1,681,067 1,356,067 1,056,067 901,667 651,667 651,667 651,667 651,667 651,667 651,667 646,667 446,667 100,000 100,000 26,867,400 Join MWRA(partial $3.18m)1 156,000 155,000 155,000 145,000 145,000 756,000 Join MWRA(full $7.8m) ®2 360,000 360,000 360,000 360,000 355,000 350,000 2,145,000 Auburn Tank $4.5 mil/20yr 3 205,000 205,000 205,000 205,000 205,000 205,000 205,000 205,000 205,000 205,000 205,000 205,000 205,000 205,000 205,000 205,000 205,000 205,000 200,000 3,890,000 Auburn Tank $2.0 mil/20yr 3a - 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 2,000,000 WM:Hvrhll&Howard ($2.05m)4 - WM(M):loan to be used 5 - WM(M) Ph 1 R#1 $4.012mil/10yr 6 401,200 401,200 802,400 WM Ph 1 R#2 $1.165mil/10yr 7a 115,000 115,000 115,000 115,000 460,000 WM Ph 1 R#2 $3.106 mil/10yr 7b 310,000 310,000 310,000 310,000 310,000 1,550,000 WM Grove St $1.0mil/5yrs 8 185,000 185,000 185,000 555,000 WM Gazebo $1.1mil/10yr 9 95,000 95,000 95,000 95,000 95,000 90,000 90,000 90,000 90,000 835,000 WM Downtown I $2.8 mil/10yr 10a 240,000 240,000 240,000 235,000 235,000 235,000 235,000 235,000 235,000 2,130,000 WM(M) Downtown I $1.5mil 10b 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 1,500,000 WM(M) Downtown II $1.544mil 11 - 154,400 154,400 154,400 154,400 154,400 154,400 154,400 154,400 154,400 154,400 1,544,000 Lead Removal (M) $1.5mil 11 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 1,500,000 Replace Meters $2.0mil/8yr 12 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 2,000,000 WM Downtown II $5.2 mil/15yr 13 346,667 346,667 346,667 346,667 346,667 346,667 346,667 346,667 346,667 346,667 346,667 346,667 346,667 346,667 346,667 5,200,000 Interest on Long Term Debt: 488,497 435,100 416,100 342,925 379,600 568,150 501,567 440,234 381,551 333,043 293,085 254,152 215,219 188,786 162,353 135,920 109,487 83,054 56,671 32,338 10,000 5,000 5,832,827 Join MWRA(partial $3.18m)1 25,780 21,100 14,900 8,700 4,350 74,830 Join MWRA(full $7.8m) ®2 71,550 57,150 42,750 28,350 15,825 5,250 220,875 Auburn Tank $4.5 mil/20yr 3 128,025 117,775 107,525 97,275 87,025 76,775 66,525 56,275 47,050 39,875 34,750 30,650 26,550 22,450 18,350 14,250 10,150 6,050 2,000 989,325 Auburn Tank $2.0 mil/20yr 3a 29,917 47,000 100,000 95,000 90,000 85,000 80,000 75,000 70,000 65,000 60,000 55,000 50,000 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 1,126,917 WM(M) Ph 1 R#1 $4.012mil/10yr 6 - - - WM Ph 1 R#2 $1.165mil/10yr 7a 16,100 11,500 6,900 2,300 36,800 WM Ph 1 R#2 $3.106 mil/10yr 7b 62,000 49,600 37,200 24,800 12,400 186,000 WM Grove St $1.0mil/5yrs 8 18,500 11,100 3,700 33,300 WM Gazebo $1.1mil/10yr 9 38,475 33,725 28,975 24,225 19,475 14,850 10,350 5,850 1,800 177,725 WM Downtown I $2.8 mil/10yr 10a 98,150 86,150 74,150 62,275 50,525 38,775 27,025 15,275 4,700 457,025 WM(M) Downtown I $1.5mil 10b - - WM(M) Downtown II $1.544mil 10c. - - Lead Removal (M) $1.5mil 11 - - Replace Meters $2.0mil/8yr 12 - 100,000 87,500 75,000 62,500 50,000 37,500 25,000 12,500 450,000 WM Downtown II $5.2 mil/15yr 13 - 260,000 242,667 225,334 208,001 190,668 173,335 156,002 138,669 121,336 104,003 86,670 69,337 52,004 34,671 17,338 2,080,030 1 of 2 Sewer Enterprise Fund Capital + Debt February 2022 8/16/2023 16:06 Requested Projected ==>Legend: DEBT (Issued); debtani (Approved, Not Issued) and debtna (not yet approved)FY23-35 Sewer Ent. Fund Capital & DebtFY-2023FY-2024FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032FY-2033FY-2034FY-2035TOTAL Sewer Capital 75,000 260,000 675,000 135,000 251,000 255,000 100,000 280,000 1,972,000 1,400,000 1,225,000 1,375,000 1,800,000 9,803,000 Sewer Debt 944,800 906,625 1,331,075 1,009,725 968,175 890,925 855,875 428,825 407,600 287,500 275,000 262,500 - 8,568,625 Total Capital & Debt 1,019,800 1,166,625 2,006,075 1,144,725 1,219,175 1,145,925 955,875 708,825 2,379,600 1,687,500 1,500,000 1,637,500 1,800,000 18,371,625 Sewer CAPITAL 75,000 260,000 675,000 135,000 251,000 255,000 100,000 280,000 1,972,000 1,400,000 1,225,000 1,375,000 1,800,000 9,803,000 Sewer Main projects 75,000 75,000 75,000 75,000 100,000 100,000 100,000 100,000 125,000 125,000 125,000 125,000 150,000 1,350,000 Station: Chas St. $2.4mil/8yrs 2 debt debtdebt - Station: Sturges $2 mil/5yrs 4 debt debtdebtdebt - Station: Sturges additional funding - Station: Joseph's Way $1.03mil ($915k debt 5 yrs)6 design 125,000debtdebtdebtdebtdebt 125,000 Station: Brewer Lane $1.03mil (915k debt 5yrs)7 design 125,000debtdebtdebtdebtdebt 125,000 Station: Collins Ave. $1.75m ($1.625 mill. debt over 5 yrs) 125,000 debtdebtdebtdebtdebt 125,000 Portable Generator - Collins $30k 30,000 30,000 Station: Small Lane $475k 50,000 425,000 475,000 Station: Grove St. $1.05mil 100,000 950,000 1,050,000 SCADA Upgrade 150,000 Portable Generator - Grove $30k 30,000 30,000 Station: Strout Ave. $1.175mil 100,000 1,075,000 1,175,000 Station: Longwood Rd. $2.4mil 200,000 1,100,000 1,100,000 2,400,000 Station: Pitman Drive $1.8mil 150,000 1,650,000 1,800,000 MWRA Inflow & Infiltrationdebt debtdebtdebtdebtdebtdebt - Downtown Improve II design - Downtown Improve II $1.0mil/10yrs3debt debtdebtdebtdebtdebtdebtdebtdebt - Downtown Improve II add'l funding - Meter Replacements $2.0mil/8yrs 5 debtnadebtnadebtnadebtnadebtnadebtnadebtnadebtna - S-02 Pickup #8 (2016) 61,000 61,000 S-03 Pickup #6 (2020) 66,000 66,000 S-04 Pickup #10 (2020) 66,000 66,000 S-05 Pickup #17 (2015) 60,000 60,000 S-06 Truck #17 (2015) 240,000 240,000 S-07 Vacuum Truck #1 (split w/StWtr 2018) 300,000 300,000 S-08 Vacuum Truck (split w/StWtr) 350,000 350,000 S-10 Portable Pump - trailer (2020) - S- Generator Tow behind (1994) 90,000 90,000 Engineering Vehicle (split w/Wtr) 35,000 35,000 Sewer DEBT 944,800 906,625 1,331,075 1,009,725 968,175 890,925 855,875 428,825 407,600 287,500 275,000 262,500 - 8,568,625 MWRA Inflow & Infiltration 1 68,200 68,200 68,200 68,200 68,200 26,000 26,000 393,000 Station: Charles St. $2.4mil/8yrs 2 302,400 291,600 280,800 874,800 Downtown Improve II $1.0mil/10yrs 3 120,075 115,825 111,575 107,325 454,800 Station: Sturges $2 mil/5yrs 4 428,125 405,000 387,000 369,000 1,589,125 Meter Replacements $2.0mil/8yrs5 350,000 337,500 325,000 312,500 300,000 287,500 275,000 262,500 2,450,000 Station: Joseph's Way $1.03mil ($915k debt 5 yrs)6 228,750 219,600 210,450 201,300 192,150 1,052,250 Station: Brewer Lane $1.03mil (915k debt 5yrs)7 228,750 219,600 210,450 201,300 192,150 1,052,250 Station: Collins Ave. $1.75m ($1.625 million debt over 5 yrs) 406,250 390,000 373,750 357,500 341,250 1,868,750 Repayment of Principal: 814,200 809,200 1,175,200 905,200 795,200 753,000 753,000 361,000 356,000 250,000 250,000 250,000 - 7,472,000 2 of 2 Sewer Enterprise Fund Capital + Debt February 2022 MWRA Inflow & Infiltration P71a - MWRA Inflow & Infiltration P91c 42,200 42,200 42,200 42,200 42,200 211,000 MWRA Inflow & Infiltration P111d 26,000 26,000 26,000 26,000 26,000 26,000 26,000 182,000 MWRA Inflow & Infiltration P121d 26,000 26,000 26,000 26,000 26,000 26,000 26,000 26,000 26,000 234,000 Station: Chas St. $2.4mil/8yrs2 270,000 270,000 270,000 810,000 Downtown Improve II $1.0mil/10yrs 3 85,000 85,000 85,000 85,000 85,000 85,000 85,000 85,000 80,000 760,000 Station: Sturges $2 mil/5yrs 4 365,000 360,000 360,000 360,000 1,445,000 Meter Replacements $2.0mil/8yrs5 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 2,000,000 Station: Joseph's Way $1.03mil ($915k debt 5 yrs)6 183,000 183,000 183,000 183,000 183,000 915,000 Station: Brewer Lane $1.03mil (915k debt 5yrs)7 183,000 183,000 183,000 183,000 183,000 915,000 Station: Collins Ave. $1.75m ($1.625 million debt over 5 yrs) 325,000 325,000 325,000 325,000 325,000 Interest on Long Term Debt: 130,600 97,425 155,875 104,525 172,975 137,925 102,875 67,825 51,600 37,500 25,000 12,500 - 1,096,625 MWRA Inflow & Infiltration1 - Station: Chas St. $2.4mil/8yrs 2 32,400 21,600 10,800 64,800 Downtown Improve II $1.0mil/10yrs 3 35,075 30,825 26,575 22,325 18,075 13,825 9,575 5,325 1,600 163,200 Station: Sturges $2 mil/5yrs 4 63,125 45,000 27,000 9,000 144,125 Meter Replacements $2.0mil/8yrs5 100,000 87,500 75,000 62,500 50,000 37,500 25,000 12,500 450,000 Station: Joseph's Way $1.03mil ($915k debt 5 yrs)6 45,750 36,600 27,450 18,300 9,150 137,250 Station: Brewer Lane $1.03mil (915k debt 5yrs)7 45,750 36,600 27,450 18,300 9,150 137,250 Station: Collins Ave. $1.75m ($1.625 million debt over 5 yrs) 81,250 65,000 48,750 32,500 16,250 243,750 1 of 1 Storm Water Enterprise Fund Capital + Debt February 2022 Requested Projected ==>Legend: DEBT (Issued); debtani (Approved, Not Issued) and debtna (not yet approved)FY23-35 FY33-35 not shown Storm Water Ent. Fund Capital & DebtFY-2023FY-2024FY-2025FY-2026FY-2027FY-2028FY-2029FY-2030FY-2031FY-2032TOTAL Storm Water Capital 400,000 100,000 650,000 200,000 200,000 200,000 200,000 200,000 200,000 300,000 3,550,000 Storm Water Debt 120,075 115,825 111,575 107,325 103,075 98,825 94,575 90,325 81,600 - 923,200 Total Capital & Debt 520,075 215,825 761,575 307,325 303,075 298,825 294,575 290,325 281,600 300,000 4,473,200 Storm Water CAPITAL 400,000 100,000 650,000 200,000 200,000 200,000 200,000 200,000 200,000 300,000 3,550,000 Drainage Improvm. (projects) 100,000 100,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 100,000 2,400,000 Downtown Improve II $1.0mil/10yrs 1 debt debtdebtdebtdebtdebtdebtdebtdebt - Memorial Park project (lining) 300,000 300,000 Drainage Master Plan 100,000 100,000 Saugus River Design/Permit 200,000 200,000 Saugus Rvr Improvements TBD 3 - Aberjona River Design/Permit 200,000 Aberjona Rvr Improvements TBD 4 - S-07 Vacuum Truck #1 (split with Sewer) - S-08 Vacuum Truck #2 (split with Sewer) 350,000 350,000 Increase by $50k SW-02 Catch Basin truck (2020) - SW-03 Sweeper (2020) - SW-04 Mini Excavator (2012) - SW-05 Trailer for mini ex. (2012) - Storm Water DEBT 120,075 115,825 111,575 107,325 103,075 98,825 94,575 90,325 81,600 - 923,200 Downtown Improve II $1.0mil/10yrs 1 120,075 115,825 111,575 107,325 103,075 98,825 94,575 90,325 81,600 - 923,200 DPW Bldg Project/25 yrs TBA 2 Saugus Rvr Improvements TBD 3 Aberjona Rvr Improvements TBD 4 Repayment of Principal: 85,000 85,000 85,000 85,000 85,000 85,000 85,000 85,000 80,000 - 760,000 Downtown Improve II $1.0mil/10yrs 1 85,000 85,000 85,000 85,000 85,000 85,000 85,000 85,000 80,000 760,000 Saugus Rvr Improvements TBD 3 Aberjona Rvr Improvements TBD 4 Interest on Long Term Debt: 35,075 30,825 26,575 22,325 18,075 13,825 9,575 5,325 1,600 - 163,200 Downtown Improve II $1.0mil/10yrs 1 35,075 30,825 26,575 22,325 18,075 13,825 9,575 5,325 1,600 163,200 Saugus Rvr Improvements TBD 3 Aberjona Rvr Improvements TBD 4 Town of Reading Meeting Minutes 2016-09-22 LAG Board -Committee -Commission -Council: Finance Committee Date: 2023-07-26Time: 7:00PM Building: Reading Town Hall Location: Select Board Meeting Room Address: 16 Lowell StreetSession: Open Session Purpose: General BusinessVersion: Draft Attendees:Members -Present: Chair Ed Ross, Joe Carnahan, Geoffrey Coram, Endri Kume, Joe McDonagh, Marianne McLaughlin-Downing,Emily Sisson(remote), John Sullivan (remote), Mark Zarrow(remote) Members -Not Present: Others Present: Town Manager Fidel Maltez, CFO Sharon Angstrom, Community Services Director Andrew MacNichol, Senior Planner Mary Benedetto, Karen Gately Herrick Minutes Respectfully Submitted By:Jacquelyn LaVerde Topics of Discussion: This meeting was held in-person in theTown Hall Select Board Meeting Room and remotely via Zoom. Chair Ed Ross called the meeting to order at 7:01 pm. Liaison Reports GeoffreyCoram reported that the School Committee reorganized. Tom Wise is nowChair, and Erin Gaffen is now Vice Chair. Dr. Derek Pinto is the new School Finance Director. Joe Carnahan reported that the RMLD Board of Commissioners has a new member, Pam Daskalakis. Marianne Downing provided updates from thelatest Select Board meeting, where they reviewed, but did not finalize the FY25 tax rate. The Board previewed the construction tracker webpagethat was implemented by staff. There was a public forum last night on a dog park in Reading. The next step is toidentify a locationfor a dog park, and the consensus indicatedHunt Parkwas a possibility. The Symonds Way Exploratory Committee is gettingactive with requests for uses for the property. Mark Zarrow reported that at the RMLD sub-audit committee meeting, he learned that the current auditor, Melanson, was acquired by Marcum,sothe auditor for both RMLD and the Town is going to change to Marcum. RMLD was also recently caught in a phishing issue, and has updated their policies as a result. Ed Ross stated that at the Killam School Building Committee meeting last week, the Committee reorganized. Carla Nazzaro is the new Chair, and Karen Gately Herrick is the Page | 1 new Vice Chair.The KSBC also was introduced to the new OPM representative, and heard about project timelines. Next up is the selection of a designer. Mr. Ross noted that it will be important for members of the Finance Committee to help the community understand the reasons for the project, and its pros and cons, as it will go before the voters at some point. Vote to Reorganize Finance Committee Town Manager Fidel Maltez opened the floor for nominations for Chair. Joe Carnahan nominated Ed Ross to continue as Chair, seconded by Joe McDonagh. Emily Sisson nominated Joe Carnahan, seconded by Ed Ross. Joe McDonagh nominated Marianne Downing, seconded by Emily Sisson. Joe Carnahan stated that he loves being on FINCOM and hopes to spend another eight years on the Committee, but plans on voting for Ed Ross for Chair. Marianne Downing stated that she is honored to be nominated, but supports Ed Ross for Chair for continuity. She noted that as Chair of RAAC, she understands what goes into putting an agenda together. She plans to stay on FINCOM as long as she can and would be happy to accept a secondary role such as Vice Chair. Ed Ross thanked everyone and stated that he understands the need for change. He noted that he does enjoy being Chair, and is getting slightly better at it, but if someone new is Chair and needs an experienced Vice Chair, he would be happy with that as well. Voting was done alphabetically by last name. By a vote of 8-1, Ed Ross was voted as Chair. Roll call vote 1-8 for Joe Carnahan as Chair: Mark Zarrow No, Emily Sisson Yes, John Sullivan No, Geoffrey Coram No, Joe McDonagh No, Joe Carnahan No, Ed Ross No, Marianne Downing No, Endri Kume No. Roll call vote 3-6 for Marianne Downing as Chair: Mark Zarrow No, Emily Sisson Yes, John Sullivan No, Geoffrey Coram No, Joe McDonagh Yes, Joe Carnahan No, Ed Ross No, Marianne Downing Yes, Endri Kume No. Roll call vote 8-1 for Ed Ross as Chair: Mark Zarrow Yes, Emily Sisson Yes, John Sullivan Yes, Geoffrey Coram Yes, Joe McDonagh Yes, Joe Carnahan Yes, Ed Ross No, Marianne Downing Yes, Endri Kume Yes. Chair Ed Ross then opened the floor for nominations for Vice Chair. Emily Sisson nominated Joe Carnahan, seconded by Marianne Downing. Ed Ross nominated Marianne Downing, seconded by Mark Zarrow. Voting was done alphabetically by last name. By a vote of 5-4, Joe Carnahan was voted Vice Chair. Roll call vote for Joe Carnahan as Vice Chair: Mark Zarrow No, Emily Sisson Yes, John Sullivan Yes, Geoffrey Coram No, Joe McDonagh No, Joe Carnahan Yes, Marianne Downing No, Endri Kume Yes, Ed Ross Yes. Discuss Liaison Assignments The Committee reviewed the liaison responsibilities and agreed on the following assignments: Ed Ross: Audit Committee, Killam School Building Committee, Select Board Joe Carnahan: Select Board, Department of Public Works, Facilities Department Page | 2 Geoffrey Coram: School Department and School Committee, Public Safety Departments Marianne Downing: Select Board, School Department and School Committee, Charter Review Committee Endri Kume: RMLD, Administrative Services Department, Department of Public Works Joe McDonagh: RMLD, Library and Board of Library Trustees, Reading Ice Arena Authority Emily Sisson: Public Services Department Community Services, Symonds Way Exploratory Committee, Public Safety Departments John Sullivan: Public Services Department Community Development, Reading Center for Active Living Committee Mark Zarrow: Audit Committee, Permanent Building Committee Before the next meeting, members will review their assignments. At the next meeting, any requested changes will be made, and the list will be finalized. Presentation by Community Development Staff regarding MBTA Communities Community Services Director Andrew MacNichol shared information on MBTA Communities. The law was passed by the state and mandates that all cities and towns in the Metro-Boston area allow for multi-family housing (3+ units) by right on a lot. There are 177 communities going through this. Based on Readings designation of a Commuter Rail community, the Town must comply with the law by the end of calendar year 2024. The law is trying to increase housing stock with access to MBTA transportation, and alleviate the increasing burden of housing costs. Senior Planner Mary Benedetto explained that the biggest takeaway is that Reading does currently comply with the law. And while Reading does currently have multiple multi-family districts, the way they are currently written do not comply with the law for technical reasons. There are multiple paths the Town can take to comply, and community input is needed to help inform staff of the best fit for Reading. The hard deadline to comply with the law is December 2024. Staff hopes to bring changes to Town Meeting in April 2024. The Community Development Department is addressing this aggressive timeline in two phases. The first phase is engagement to get the information needed to start narrowing down ways to move forward, including a community survey. The second phase will consist of a series of community forums. The Planning Division has a detailed webpage dedicated to the MBTA Communities Process with frequently asked questions. Mr. MacNichol and Ms. Benedetto noted that they need the help of the Committee and residents to help spread the word. Discuss BOLT Library Landscape Committee Town Manager Fidel Maltez reviewed the concerns regarding the Library Landscape Committee (LLC) plans from a finance standpoint, such as whether it is considered a capital project, included in the capital plan, and whether there is a funding mechanism for it. He met with the Library Landscape Committee and stated that they will ask the Board of Library Trustees to include Community Development Director Andrew MacNichol, a Select Board member, and himself, and he will ask if the BOLT might want a FINCOM member as well. Mr. Maltez explained that the LLC is in the dreaming and envisioning phase. At this point there is no funding, and they are trying to identify a need. Joe McDonagh noted that at a Trustee meeting, the BOLT seemed to indicate a plan to use operating money from the Friends of the Reading Library, or the Reading Public Library Foundation endowment. If anything will be built, it will be required to go through public bidding. Future Meeting Agendas: rd The next meeting is scheduled for August 23. Topics will include: a discussion on Free Cash estimates, finalizing liaison assignments, a visit from new School Finance Director Derek Pinto, a preview of November Town Meeting, Financial Forum planning, and an Page | 3 update onGrove Street Lot 5.RMLD is scheduled to attend the following meeting on th September 20 to provide a year-to-date update. Approve Prior Meeting Minutes On a motion by Geoffrey Coram, seconded by Joe McDonagh, the Finance Committee voted 8-0-1 to approve the meeting minutes of June 28, 2023, with Mark Zarrow abstaining, as he was not present at that meeting. Roll call vote: Geoffrey Coram Yes, Joe McDonagh Yes, Joe Carnahan Yes, Marianne Downing Yes, Endri Kume Yes, Mark Zarrow Abstain, Emily Sisson Yes, John Sullivan Yes, Ed Ross - Yes On a motion by Joe Carnahan, seconded by Joe McDonagh, the Finance Committee voted 9-0-0 to adjourn at 8:20 pm. Roll call vote: Geoffrey Coram Yes, Joe McDonagh Yes, Joe Carnahan Yes, Marianne Downing Yes, Endri Kume Yes, Mark Zarrow Yes, Emily Sisson Yes, John Sullivan Yes, Ed Ross Yes. Page | 4