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Home My WebLink About2025-10-15 Finance Committee PacketTown of Reading Meeting Posting with Agenda 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 2018-07-16 LAG Board - Committee - Commission - Council: Finance Committee Date: 2025-10-15 Time: 7:00 PM Building: Reading Town Hall Location: Select Board Meeting Room Address: 16 Lowell Street Agenda: Purpose: General Business Meeting Called By: Jacquelyn LaVerde on behalf of Joe Carnahan Notices and agendas are to be posted 48 hours in advance of the meetings excluding Saturdays, Sundays and Legal Holidays. Please keep in mind the Town Clerk’s hours of 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 not be accepted. Topics of Discussion: This meeting will be held in-person in the Select Board Meeting Room of Town Hall and remotely via Zoom: Join Zoom Meeting https://us06web.zoom.us/j/82344657055 Meeting ID: 823 4465 7055 AGENDA: •Call to Order and Welcome •Public Comment •Liaison Reports •Discussion on Financial Policies and Impacts on Bond Rating •Discuss and Vote on Use of Free Cash to Support the FY27 Budget •Capital Plan and Debt Review •Discuss and Vote on Financial Articles in the Subsequent Town Meeting Warrant •Future Agendas •Review and Approve Prior Meeting Minutes Finance Committee Debt & Capital Policy August 2018 The Finance Committee (FINCOM) of the Town of Reading hereby establishes and adopts a Debt & Capital Policy that a minimum of 5% of Revenue shall be devoted to construct and replace the capital plant of the community, both as debt repayment and annual payments as part of the budget for capital items. The FINCOM recognizes that a prudent Capital Improvement Program (CIP) will serve to avoid excessive maintenance and repair costs, and reduce the need for sudden and unexpected capital expenses that may have an adverse impact on the Town’s operating budgets. The FINCOM also recognizes that from time to time additional capital expenses over this 5% minimum will be beneficial for the long term financial health of the Town. These additional expenses may be funded either by use of excess Reserves (as described in the FINCOM Cash Reserves Policy), from the general fund (by way of a budget increase above this 5% minimum Policy), or through other methods outside of the tax levy. The FINCOM encourages a prudent use of debt so as to spread out the cost of large capital assets over a period of time that should not exceed the expected useful life of the asset. The FINCOM also encourages issuing debt for the shortest practical term in order to minimize interest costs. Exclusion from the tax levy should always be considered for capital projects over $5.0 million. The FINCOM encourages the Treasurer to consider refunding and advance refunding any eligible outstanding debt when the savings net of issuance costs exceed $50,000 annually. The Capital Improvement Program will be a minimum of five years of projected capital projects that reflect the prioritized needs of the Town, subject to the anticipated funding provided by this Policy. This CIP will be presented at least twice each year to the FINCOM by the Town ’s financial staff, in advance of both the Annual and Subsequent Town Meetings. 2 Finance Committee Other Post-Employment Benefits (OPEB) Policy August 2018 The Finance Committee (FINCOM) of the Town of Reading hereby establishes and adopts a Policy establishing a minimum target for annual OPEB funding in both the General and Enterprise funds (as defined below). Further, the FINCOM recognizes that circumstances may occur in any given year which would require the FINCOM to adjust the annual contribution. The FINCOM recognizes that the financial health of the Town of Reading is of paramount importance to its residents who receive essential services; to its bondholders who provide funding for long-term Town projects; to its vendors who provide services and equipment to the Town; and to its current and retired employees. This Policy on OPEB funding is designed to protect the community from a) the near-term budget impact of a sudden change in law that would require such funding; and b) the longer-term need to reduce a large liability. Health Insurance Premiums are defined as the best estimate from the Town’s financial staff by early November of the cost of the Town’s share of employee and retiree premiums for the following fiscal year. General Fund OPEB contribution: Not less than 5% of the estimated premium costs for employees and retirees covered by the general fund will be set aside in the following fiscal year as a preliminary OPEB contribution. This policy will help cushion the budget process from any late adverse impacts of changes to health insurance premiums. Enterprise Funds OPEB contribution: These funds are expected to fully fund the OPEB liability annually, according to an actuarial schedule agreed to by the Town’s financial staff, and a funding term not to exceed thirty years. 3 Finance Committee Policy on Cash Reserves August 2016 The Finance Committee (FINCOM) of the Town of Reading hereby establishes and adopts a Policy establishing a minimum target for cash reserves of 7% of Revenue. Further, the FINCOM recognizes that circumstances may occur which would require the FINCOM to raise or lower this minimum from time to time. FINCOM considers a balance less than 5% to require a formal review by the committee. The FINCOM recognizes that the financial health of the Town of Reading is of paramount importance to its residents who receive essential services; to its bondholders who provide funding for long-term Town projects; to its vendors who provide services and equipment to the Town; and to its current and retired employees. This Policy on Cash Reserves is designed to protect the community from sudden and unexpected changes in revenues or expenses. Funds in excess of the current Cash Reserves Policy may be: Added to reserves. This will increase the financial cushion against any sudden and unexpected changes in revenues or expenses. Added to the Capital Improvement Program. This investment will reduce future maintenance and repair costs. Added to the funding of any long term liability. This will reduce the need for future contributions towards the pension fund or other post- employment benefit costs. Used for one-time expenses for community priorities. Used to supplement the current fiscal year budget, including the opportunity to reduce property taxes or other fees for the Town’s residents. Cash Reserves are defined to be the sum total of certified free cash, uncommitted Stabilization Funds, and the FINCOM Reserve Fund. Other reserves (such as Sale of Real Estate funds, committed Stabilization Funds and overlay reserves) are excluded from the 7% minimum requirement, though these funds may be considered if circumstances require higher reserves. The most recent set of certified financial statements will typically be used to calculate both Cash Reserves and Revenue. The FINCOM may use the best estimates from the Town’s financial staff at other times. 4 Peer Communities Benchmarking Guidelines Finance Committee Adopted October 2013 The Finance Committee (FINCOM) of the Town of Reading hereby establishes and adopts Benchmarking Guidelines, establishing a financial best practice of using Peer Communities when making financial comparisons. FINCOM recognizes that under Proposition 2-1/2 in Massachusetts, communities are financially constrained by fundamental commercial/residential demographics and other economic factors. For purposes of any broad budget or financial comparison, FINCOM defines Peer Communities to be those deemed financially statistically similar to Reading by an independent study by Stone Consulting in December 2008. Updated studies are suggested to ensure that this list is kept up to date. Therefore the following list constitute Reading’s 23 Peer Communities: Andover, Bedford, Belmont, Burlington, Canton, Danvers, Dedham, Lynnfield, Mansfield, Marshfield, Milton, Natick, North Reading, North Andover, Shrewsbury, Stoneham, Tewksbury, Wakefield, Walpole, Westborough, Westford, Wilmington and Winchester. FINCOM also recognizes that in some instances, a second set of comparisons with other Massachusetts communities can add valuable insight. 5 From:Angstrom, Sharon To:LaVerde, Jacquelyn; Joseph Carnahan Cc:Emily KQ Sisson; Kraunelis, Matthew; Baptiste, Madeleine Subject:RE: October 15 FinCom agenda Date:Thursday, October 9, 2025 11:21:50 AM I found this online regarding maintaining a AAA bond rating: To achieve and maintain an AAA bond rating from S&P, a municipality generally needs to adhere to a formal fund balance target of at least 15% of expenditures, though reserves are assessed in the context of the entire Financial Management Assessment (FMA) and are not the sole determinant of the rating. While specific amounts vary, a reserve level that falls within the 20-35% range of the rating criteria is often considered, and in some cases, a municipal bond rating of AAA is impossible without at least 10% of the budget in reserve. Factors Affecting AAA Bond Ratings Financial Management Practices: This includes having a strong track record of financial stability and a formal framework for financial planning, like formal five-year budget forecasting and capital planning. Fund Balance and Reserves: Adherence to a strong fund balance target, like 15% of expenditures, is a positive indicator. Significant depletion of reserves can lead to a downgrade. Local Economy: A strong local economy with above-average wealth and income levels is a key factor for an AAA rating. Institutional Framework: The presence of a robust and stable institutional framework is also considered. How Reserves Contribute Financial Stability: Adequate cash reserves provide a buffer to manage economic uncertainties and ensure the municipality's financial health. Liquidity: Reserves improve a municipality's ability to meet its short-term financial obligations. Risk Mitigation: A sufficient reserve fund demonstrates the municipality's ability to manage financial 6 stress, reducing the perceived risk of default. Sharon Angstrom, CPA, CGA, CGMA Chief Financial Officer/Town Accountant Phone - 781-942-6604 FAX - 781-942-9037 Please note Town Hall Hours Monday, Wednesday Thursday - 7:30 am to 5:30 pm Tuesday - 7:30 am to 7 pm Friday - CLOSED Please remember that the Secretary of State's Office has determined that email is a public record when writing or responding. This communication may contain privileged or other confidential information. If you are not the intended recipient or believe you received this communication in error, please do not print, copy, retransmit, disseminate, or otherwise use the information. Also, please indicate to the sender that you have received this email in error and delete the copy you received. 7 Capital Improvement Plan (CIP) 10/9/2025 16:21 FY-2026 FY-2027 FY-2028 FY-2029 FY-2030 FY-2031 FY-2032 FY-2033 FY-2034 FY-2035 FY-2036 FY25-36 TOTAL CAPITAL REQUESTS 4,096,000 3,026,500 3,890,000 4,424,000 3,482,000 4,344,000 4,770,500 6,016,000 3,875,000 2,224,000 4,025,000 48,103,000 Capital & Debt Policy 5.00%4.75%5.00%5.00%5.00%5.00%5.05%5.00%5.00%5.00%5.00% Annual Surplus (Deficit)- - - - - - - 118,630 2,653,991 4,612,904 3,127,338 Cumulative Surplus (Deficit)- - - - - - - 118,630 2,772,621 7,385,525 10,512,862 Capital Projects Identified but there is no proposed funding yet in the Capital Plan (shading/boldcrossout indicates a change from last Town Meeting) 8 Capital Improvement Plan (CIP) 10/9/2025 16:21 FY-2026 FY-2027 FY-2028 FY-2029 FY-2030 FY-2031 FY-2032 FY-2033 FY-2034 FY-2035 FY-2036 FY25-36 1. Killam Building project TBD Excluded Debt - Killam Field improvements, drainage, repaving ($350k HOLD for Killam project) 2. Senior/Community Center TBA Excluded Debt if >$5mil (Options are being explored) 3. DPW Bldg improvements (scope changed) 4. Community projects (no formal capital requests yet) Legend: xDebt has been approved by the voters as excluded from the Prop 2-1/2 levy; debtni has been authorized by Town Meeting but not yet issued; debtna has not yet been authorized by Town Meeting 9 Capital Improvement Plan (CIP) 10/9/2025 16:21 FY-2026 FY-2027 FY-2028 FY-2029 FY-2030 FY-2031 FY-2032 FY-2033 FY-2034 FY-2035 FY-2036 FY25-36 Facilities - CORE 480,000 470,000 1,025,000 335,000 245,000 195,000 202,500 750,000 265,000 - - 4,017,500 Energy (Performance Contract) $4.95mil debt - Energy Improvements II OPM/Design - Energy Improvements II $5.0mil/15yr Debt Debt Debt Debt Debt Debt Debt Debt - Energy (Green Repairs) $1.05mil debt - Bldg Security - $4.0mil debt Debt Debt Debt Debt Debt - Bldg Sec. - window film (schools)- Facilities Master Plan 200,000 200,000 Move out 1 yr Permanent Bld Committee 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 500,000 RMHS Building project ~$55mil debt - RMHS Bldg proj - $6 mil Litig. some debt Debt Debt - RMHS Retaining Wall - $0.5mil debt - RMHS Lighting Control Upgrade 200,000 Add new item RMHS Turf 2 - $2.225 mil debt Debt Debt Debt Debt Debt - RMHS Stadium OPM/Design - RMHS Glycol Reclamation & Installation - RMHS Building Management System (Green Communities Grant $150k?)- RMHS Stadium Turf/Track $3 mil/10yr Debt Debt Debt Debt Debt Debt Debt - RMHS Ropes Course 97,500 97,500 Move out 1 yr RMHS/RISE playground design - RMHS/RISE playground improvements - RMHS Fldhouse floor/bleachers $3.2 mil TBD debt ($200K design; $3.0 mil project )Debtna Debtna Debtna Debtna Debtna Debtna Debtna Debtna Debtna Debtna - Parker MS roof project OPM/design - Parker MS Roofing project $2.7mil/10yr Debt Debt Debt Debt Debt Debt Debt - Parker MS Auditorium Lighting Upgrade 230,000 230,000 Increase by $180k Coolidge MS roof project design 450,000 450,000 Coolidge MS Roofing project $3.7mil/10yr Debtna Debtna Debtna Debtna Debtna - Modular Classrooms $1.2m debt - Killam Building project TBD xDebt xDebt xDebt xDebt xDebt xDebt xDebt xDebt xDebt - Barrows/Wd End Bldg projects $0.8mil debt - Barrows/Wd End Bldg projects debt - Birch Meadow ES roof project design 230,000 230,000 Birch Meadow Roofing project $1.9 mil/10yr Debtna Debtna Debtna Debtna - Library Building project $18.4 mil debt - Police Sta. project $1.5mil/10yr Debt Debt Debt Debt Debt Debt Debt - Fire Station #1 Main Street Elevator Replacement 300,000 300,000 Town Hall Roofing project design $55k design and $550k design 55,000 550,000 605,000 Move out 1 yr Town Hall Restroom Improvements Town Hall Elevator Replacement 325,000 325,000 Police Station . Roof $15k design and $150k design 15,000 150,000 165,000 Move out 1 yr Community Center TBA xDebt if >$5mil - Community Center Heating System $700k - DPW Garage Roof Project $102k design and $1.3 million - DPW Bldg project TBD - 10 Capital Improvement Plan (CIP) 10/9/2025 16:21 FY-2026 FY-2027 FY-2028 FY-2029 FY-2030 FY-2031 FY-2032 FY-2033 FY-2034 FY-2035 FY-2036 FY25-36 Electrician Van Ford E350 Econoline (2014)55,000 55,000 Move out 2 yrs Carpenter's Pickup Ford F-350 (2013)55,000 55,000 Carpenter's Cut-away Van (2017)60,000 60,000 Plumber's Cut-away Van (2017)60,000 60,000 Pickup Truck Chevy 2500HD (2016)10 75,000 75,000 Pickup Truck Chevy 2500HD (2017)10 75,000 75,000 Move out 1 yr 2019 Ford Transit Van 10 55,000 55,000 Move out 1 yr 2021 Bobcat L28 Mini Loader (15 years)10 - 100,000 100,000 Bobcat Skid S130 (2008)15 65,000 65,000 Move up 2 yr Bobcat Utility UV56 (2024)15 115,000 115,000 Buildings - Schools (Total)120,000 40,000 - 145,000 40,000 80,000 875,000 100,000 1,100,000 - - 2,500,000 Arc Flash Hazard Study 105,000 105,000 HVAC - Elementary schools Barrows -> 80,000 775,000 855,000 design(yr1)/project(yr2)Wood End ->100,000 1,100,000 1,200,000 Coolidge MS HVAC - Steam Traps Coolidge ->75,000 75,000 Move out 1 yr Carpet/Flooring 70,000 60,000 130,000 Move out 1 yr Doors & Windows 40,000 40,000 40,000 120,000 Move out 1 yr Birch Meadow Food Service Line - paid by School Lunch Revolving fund - Barrows Food Service Line - paid by School Lunch Revolving fund - Wood End Water Heater 15,000 15,000 Parker Carpet/Flooring - Buildings - Town (Total)- 144,000 - - 30,000 - - - - - - 189,000 Arc Flash Hazard Study 144,000 144,000 Carpet/Flooring 30,000 30,000 Move out 1 yr Doors & Windows - 11 Capital Improvement Plan (CIP) 10/9/2025 16:21 FY-2026 FY-2027 FY-2028 FY-2029 FY-2030 FY-2031 FY-2032 FY-2033 FY-2034 FY-2035 FY-2036 FY25-36 Schools - General 160,000 260,000 260,000 735,000 260,000 300,000 260,000 310,000 260,000 225,000 225,000 3,435,000 Food Service Van E-250 (2014)- Driver's Education Vehicle (2014)45,000 Card readers for all the schools - Vehicle Barriers for all schools 475,000 475,000 Bob Utility UV34 (2021)50,000 50,000 Courier Vehicle (2019)40,000 40,000 District-wide Telephone systems 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 100,000 Design for Technology wiring projects - District-wide Technology Wiring projects - District-wide Technology projects 150,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 225,000 225,000 2,725,000 Technology 100,000 205,000 150,000 158,500 150,000 166,000 175,000 175,000 200,000 200,000 200,000 2,494,500 Water Tank Town telco equip replace/relocate - Remote access multi factor authentication - Internal segmentation firewall - Servers for building security system for towns and schools 80,000 80,000 Add new item CAD System (Computer Aided Dispatch)455,000 Firewall Upgrade GIS flyover - planimetrics - Technology projects 100,000 125,000 150,000 158,500 150,000 166,000 175,000 175,000 200,000 200,000 200,000 1,899,500 Increase FY26 by $16k, Decrease FY27 by $5k Finance - - - - - - - 600,000 - - - 600,000 Financial System 600,000 600,000 Library - - - - - - - - - - - - Equipment - - - - - - - - - - - - Public Services 150,000 - - - - 570,000 250,000 335,000 325,000 - - 1,875,000 Maillett Sommes Morgan $1.0mil/10yrs Debt Debt Debt Debt Debt Debt Debt Debt - Downtown Improvements II $4.0mil/ 20yrs Debtna Debtna Debtna Debtna Debtna Debtna Debtna Debtna Debtna - 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 - Sturges - 12 Capital Improvement Plan (CIP) 10/9/2025 16:21 FY-2026 FY-2027 FY-2028 FY-2029 FY-2030 FY-2031 FY-2032 FY-2033 FY-2034 FY-2035 FY-2036 FY25-36 Birch Meadow Master Plan - Birch Meadow Master Plan Design - Phase 1 $2.3 mill ($1.5mil ARPA grant & $800k debt)- Support & general Circulation $750k-$1.2mil - Imagination Station Parking $450-550k - Phase 2 $2.14mil/10yr debt ($245k design)Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt 245,000 Lacrosse Wall $100-150k - Tennis Courts, Playground, Parking $800k-$1.0mil - Basketball Courts $500-650k - Phase 3 $1.6mil/10yr debt - Morton Field improvements $600-950k - Castine Field $75-100k - Higgins Farm Conserv Area $100-150k - Birch Meadow Drive Improvements $250-400k - Phase 4 $6.0mil/10yr debt - Softball/Multi purpose new turf field $3.2-3.6mil - Coolidge Field turf $2.2-2.4 mil.- Artificial Turf @Parker MS (replace) design to 2027 debt 2028 $1.5 mill 10 yrs 150,000 Debtna Debtna Debtna Debtna Debtna Debtna Debtna Debtna Debtna Debtna 150,000 Pickleball Courts $1.50 million (200k donations)(100k FY26 Capital)($200k Ice Arena Fund) Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Barrows Tennis court repairs 125,000 125,000 Move out 2 yrs Barrows Basketball court repairs 100,000 100,000 Move out 2 yrs Barrows Replace backstop & repair infield 125,000 125,000 Move out 2 yrs Killam Field improve, drainage, repaving ($350k) held for Killam project decision - Wood End Field Repairs 325,000 325,000 Move out 1 yr (*) below indicates $950k in state bond bill details TBA ($805k identified below)- *Wash Pk:Replace backstop & shift field 150,000 150,000 Move out 1 yr *Wash Pk:Walking Paths 100,000 100,000 Move out 1 yr *Mem Pk: Replace Band Stand 50,000 50,000 *Mem Pk:Court resurface 20,000 20,000 *Symonds:Replace backstop 150,000 150,000 Move up 2 yrs *Hunt Pk:Replace backstop 125,000 125,000 Sturges Pk:Tennis court repairs 75,000 75,000 Sturges Pk:Basketball court repairs 85,000 85,000 Sturges Pk:Backstop repairs 50,000 50,000 Public Safety - Fire/EMS 1,610,000 485,000 705,000 - 200,000 485,000 350,000 766,000 - - 1,700,000 6,301,000 Ladder Trk #1 (2008: $800k, next FY22) (15 years)- Ladder Truck & Equipment - Pumper Eng #1 (2010-$525k; next FY30)Debtna - Increase by $100k Pumper Eng #2 (2007-$410k; next FY25)1,300,000 1,300,000 Increase by $150k 13 Capital Improvement Plan (CIP) 10/9/2025 16:21 FY-2026 FY-2027 FY-2028 FY-2029 FY-2030 FY-2031 FY-2032 FY-2033 FY-2034 FY-2035 FY-2036 FY25-36 Pumper Eng #3 (2016 $630k; next FY36)1,700,000 1,700,000 Add replacement Pumper Eng #4 (2020 $800k; next FY40)- Ambulance #1 (2017- 10 yrs)500,000 500,000 Ambulance #2 (2010 - 10yrs) & equip 575,000 575,000 Ambulance equipment 45,000 45,000 90,000 Move out 1 yr to match with ambulance purchase Passenger Car#1 (2023 - 10yrs)75,000 75,000 Passenger Car#2 (2022 - 10yrs)75,000 75,000 Move up 3 yrs Passenger Car#3 (2023 - 10yrs)71,000 71,000 Passenger Car#4 (2018 - 10yrs)85,000 85,000 Add replacement Pickup Truck #1 (2019 - 10yrs)85,000 85,000 Pickup Truck #2 (2012 - 10yrs)80,000 80,000 Move out 1 yr Alarm Truck (2023 - 20yrs)- ALS Defibrillator Monitor (2019 - 7yrs) transition Zoll Monitor System 310,000 - 310,000 Remove $70k fr FY30 BLS AEDs (2020-8yrs)25,000 - 25,000 FY27 capital will replace all; FY30 funding no longer needed Rescue Tool 60,000 60,000 Breathing Apparatus (2017-12yrs)400,000 400,000 Breathing Air Compressor - Breathing Air Bottles 30,000 30,000 CPR Compression Device 20,000 20,000 Thermal Imaging (2018 - 10yrs)60,000 60,000 Fire Hose 40,000 40,000 Multigas meters 20,000 20,000 Turnout Gear (2022 - 5yrs)350,000 350,000 700,000 Increase $50k Public Safety - Police/Dispatch - 25,000 - 80,000 222,000 - - 680,000 65,000 144,000 - 1,306,000 Police Unmarked Vehicles 80,000 80,000 210,000 Move out 1 yr Police Parking Enforcement Vehicle (2024)65,000 105,000 Police equipment (tasers) (7 years) ( 2021)192,000 192,000 Move up 2 yrs Firearms Replacement (12 years) (2023)144,000 144,000 Move out 3 yrs Radios (Police & Fire 2022 - 12yrs)600,000 600,000 Dispatch Center Equipment Upgrade (2019) AEDs 25,000 30,000 55,000 Public Works - Equipment 300,000 142,500 515,000 1,495,500 960,000 988,000 1,140,000 700,000 60,000 55,000 300,000 7,064,000 Large Trucks Life 275,000 - 515,000 - 900,000 440,000 1,070,000 240,000 3,440,000 C-03 Dump Truck C3 (2016)10 140,000 140,000 C-04 Dump Truck C2 (2012)10 120,000 120,000 H-05 Small Dump Truck #7 (2012)10 120,000 120,000 H-06 Aerial Pickup Truck #14 (2017)10 100,000 100,000 H-07 Truck #10 (2018)15 240,000 240,000 H-08 Truck #9 - Sander (2017)15 275,000 275,000 H-09 Truck #8 - 10 wheeler (2016)15 245,000 245,000 H-10 Truck #22 -Sander (2015)15 275,000 275,000 14 Capital Improvement Plan (CIP) 10/9/2025 16:21 FY-2026 FY-2027 FY-2028 FY-2029 FY-2030 FY-2031 FY-2032 FY-2033 FY-2034 FY-2035 FY-2036 FY25-36 H-11 Truck #4 - Sander (2014)15 275,000 275,000 H-12 Truck #16 - Sander (2011)15 300,000 300,000 Move up 1 yrs and increase 25k H-14 Truck #3 - Sander (2010)15 300,000 300,000 Move up 1 yrs and increase 25k H-15 Truck #5 (2008)15 300,000 300,000 H-16 Truck # 7 (2024)15 250,000 250,000 H-17 Truck # 11 (2024)15 250,000 250,000 H-18 Truck #19 - Sander (2007)15 275,000 275,000 H-19 Truck #18 - Sander (2006)15 275,000 275,000 Move out 1 year P-03 Dump truck #24 Parks (2017)15 100,000 100,000 P-04 Dump truck #12 Parks (2015)15 100,000 100,000 Pick-ups/Cars/Vans - - - 744,000 - - - 235,000 60,000 - - 1,194,000 C-02 Pickup Ford Utility #C1 (2014)10 100,000 100,000 C-06 Cem. #4 Ford SUV (2024)10 60,000 105,000 CAR 2 Ford Escape (2016)10 54,000 54,000 CAR 1 Car #3 Hyundia Sante FE HYBRID (2023)10 60,000 60,000 E-01 Chevy Traverse (2019)10 65,000 65,000 F-02 Pickup Chevy #9 Parks (2023)10 - H-01 Pickup #16 (2015)10 100,000 100,000 H-02 Pickup #18 (2024)10 110,000 H-03 Pickup #4 (2020)10 120,000 120,000 Move up 2 yrs H-04 Pickup Ford Utility #11 (2014)10 120,000 120,000 Add 10k M-02 Pickup #1 (2020)10 175,000 175,000 move out 2 yrs E-03 Ford Escape (2017)10 65,000 65,000 P-02 Pickup Ford #2 Parks (2015)10 120,000 120,000 C-01 Pickup (2024)10 - Backhoes/Loaders/Heavy Equipment - 100,000 - 300,000 60,000 - - - - - - 460,000 C-07 Backhoe Loader (2020)10 - H-20 Loader JD 624 (2020)10 - H-21 Loader JD 624 (2017)10 300,000 300,000 Add Replacement Loader to replace Sicard 10 - H-22 Backhoe JD 710L HWY (2020)10 - H-23 Bobcat Loader (2015)10 - P-05 Ventrac tractor (2020)10 60,000 60,000 Move up 1 yr P-06 Tractor JD4520 (Parks) (2012)15 100,000 100,000 Move up 2 yrs Specialty Equipment - Heavy Duty - - - 180,000 - 113,000 50,000 - - - 300,000 896,000 F-04 Bucket Truck #21 Forestry (2024)15 300,000 300,000 F-05 Log LoaderTruck #23 (2008)15 - F-06 Chipper Truck #23A (2024)15 H-24 Forklift (2016)15 - 15 Capital Improvement Plan (CIP) 10/9/2025 16:21 FY-2026 FY-2027 FY-2028 FY-2029 FY-2030 FY-2031 FY-2032 FY-2033 FY-2034 FY-2035 FY-2036 FY25-36 H-25 Crawler Dozer (2003)15 - H-26 Snow Primoth SW4S (2016)15 113,000 113,000 H-27 Snow Trackless (2015)15 180,000 180,000 H-28 Snow Holder #1 c992 (2015)15 - H-29 Snow Holder #2 c480 (2013)15 - H-31 Leeboy Pavement Sprd (2014)15 - H-32 Hamm Roller, Large (2014)15 - H-33 Hamm Roller, Small (2016)15 50,000 50,000 Move out 1 yr H-34 Leeboy Roller, Small (1998)15 - H-41 Screener (2018)15 - I-50 Vehicle Lift Replacement 15 Blower unit for Loader 15 220,000 W-23 Sicard HD Snowblower (1999)- Specialty Equipment - Light Duty 25,000 - - 10,000 - 425,000 20,000 225,000 - 55,000 - 760,000 C-14 SmithCo 48" Sweeper (2025)10 55,000 55,000 Replaced due to fire 25 add replacement added 10 yrs out C-15 SKAG Leaf Vac (Cem) (2015)10 25,000 25,000 C-16 Carmate Trailer (2019)20,000 20,000 Move in 1 yr C-17 Big Tex Trailer (2013)10,000 10,000 E-00 Engineering Plotter (15 yrs)25,000 25,000 F-06 Woodman Chipper (2004) kept as backup when 2018 purchased 225,000 225,000 Add Replacement F-06 Vemeer Chipper (2018)225,000 225,000 F-08 Stump Grinder new (2021) (replace 20 yrs)20 - F-09 Trailer Dump Trailer (2015)50,000 50,000 F-10 Truck Mount Sprayer 500gal (2015)20,000 20,000 H-35 Tack Machine for Paving (2004)- H-36 Curb-builder for Paving (2010)- H-37 HotBox for Paving (2020)- H-38 Cement Mixer Tow Behind (2005)- H-39 Mobile Compressor (1) (2019)10 - H-40 Mobile Compressor (2) (2020)- H-42 Trailer (2012)- H-43 Trailer, Roller (1998)- H-44 Eager beaver Trailer #2 (1996)- P-11 Smithco SuperStar (2016)15 30,000 30,000 P-12 Smithco 60 Turf Sweeper (2016)15 40,000 40,000 Move out 3 yrs P-14 Leaf Vac SKAG (2016)25,000 25,000 P-15 Trailer (2016)10,000 10,000 Move out 2 yrs 16 Capital Improvement Plan (CIP) 10/9/2025 16:21 FY-2026 FY-2027 FY-2028 FY-2029 FY-2030 FY-2031 FY-2032 FY-2033 FY-2034 FY-2035 FY-2036 FY25-36 P-16 Trailer (2013)- F-11 Trailer (stump grinder) (2022)- P-18 Trailer Enclosed (2007)- R-01 Rubbish Barrells for automated pickup - Lawnmowers - 42,500 - 261,500 - 10,000 - - - - - 314,000 C-08 Mwr SKAG TT #2 (2017)24,000 24,000 Move out 1 yr C-09 Mwr (Cem.) SKAG 48" (2016)12,500 12,500 Move out 1 yr C-10 Mower SKAG 61" (2024)- C-11 Mwr (Cem.) Scag 52" Stander (2021)10,000 10,000 Move out 2 yrs C-12 Mwr SKAG 36" (2012)12,500 12,500 Move up 1 yr C-13 Mwr SKAG TT 61" #3 (2011)30,000 30,000 P-07 Mwr SKAG TT #5 (2017)30,000 30,000 Move out 1 yr P-08 Mwr SKAG 20,000 20,000 P-09 Mwr (Pks) TORO 5910N (2014)175,000 175,000 Move out 1 yr P-10 Mower - TORO Gang (2024)- DPW: Parks & Cemetery 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 3,847,000 Gen'l Fence Replacement 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 600,000 Fencing around play area adjacent to Wood End School 32,000 DPW Yard Improvements - Strout Avenue Improvements - School Site Improvements - Birch Meadow (parking lots, sidewalks, walkways)215,000 Field, Playground and Court Improvements 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 1,200,000 Pickleball Courts $1.0k (10 years)Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Rock Wall repairs - Memorial Park - Rock Wall Repair Program 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 1,200,000 Rock Wall repairs - Laurel Hill - Rock Wall repairs - Joshua Eaton - Grove Street Parking Lot Improvements - Gen'l Parking Lot Improvements 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 600,000 DPW: Roads - Track Road Bridge #1 - Track Road Bridge #2 - Salem Street Crosswalk Improvements 100,000 100,000 Salem and Main Traffic Signal Improvements 50,000 Forest Street Crosswalk Improvements - Design Work 50,000 50,000 Sidewalk/Curb/Ped. Safety 100,000 120,000 125,000 200,000 200,000 200,000 200,000 300,000 300,000 300,000 300,000 2,545,000 FY27 Reduce by $25k & Fy28 Reduce by $15k Skim Coating & Crack Seal Patch 100,000 100,000 125,000 175,000 175,000 200,000 200,000 200,000 200,000 200,000 200,000 1,975,000 Reduce by $25k West Street - Local shr ($1.3mil)- Lowell Street $500k + $600k 600,000 General Fund - various roads 576,000 685,000 685,000 800,000 700,000 860,000 818,000 800,000 800,000 800,000 800,000 9,169,000 TOTAL GENL FUND VOTED - ROADS 876,000 955,000 935,000 1,175,000 1,075,000 1,260,000 1,218,000 1,300,000 1,300,000 1,300,000 1,300,000 14,489,000 Grants - various roads 1,142,253 600,000 600,000 600,000 600,000 600,000 600,000 600,000 600,000 600,000 600,000 7,742,253 TOTAL ROAD CAPITAL 2,018,253 1,555,000 1,535,000 1,775,000 1,675,000 1,860,000 1,818,000 1,900,000 1,900,000 1,900,000 1,900,000 22,231,253 17 Capital Improvement Plan (CIP) 10/9/2025 16:21 FY-2026 FY-2027 FY-2028 FY-2029 FY-2030 FY-2031 FY-2032 FY-2033 FY-2034 FY-2035 FY-2036 FY25-36 Biggest Changes in Capital since April Town Meeting Concerns Killam ES - any costs not Excluded debt should be identified very soon Sr. Center - 18 Debt Schedule Town of Reading Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Debt Service Schedule FY - 2026 FY - 2027 FY - 2028 FY - 2029 FY - 2030 FY - 2031 FY - 2032 FY - 2033 FY - 2034 FY - 2035 FY - 2036 FY - 2037 FY - 2038 FY - 2039 FY - 2040 FY - 2041 FY - 2042 FY - 2043 FY - 2044 FY - 2045 FY - 2046 10/9/25 11:25 General Fund:2,353,475 8,041,500 11,357,613 11,118,000 12,303,600 11,697,750 11,604,588 10,427,863 10,316,375 10,286,163 10,268,675 9,479,113 9,211,563 9,243,438 0 0 0 0 0 0 0 .1,790,000 4,874,000 6,764,000 6,784,000 8,024,000 7,714,000 7,909,000 7,009,000 7,139,000 7,354,000 7,589,000 7,060,000 7,020,000 7,285,000 0 0 0 0 0 0 Within Levy Limit 1,790,000 2,549,000 2,409,000 2,254,000 3,309,000 2,804,000 2,804,000 1,704,000 1,614,000 1,614,000 1,614,000 850,000 560,000 560,000 Excluded Debt 0 2,325,000 4,355,000 4,530,000 4,715,000 4,910,000 5,105,000 5,305,000 5,525,000 5,740,000 5,975,000 6,210,000 6,460,000 6,725,000 Interest 563,475 3,167,500 4,593,613 4,334,000 4,279,600 3,983,750 3,695,588 3,418,863 3,177,375 2,932,163 2,679,675 2,419,113 2,191,563 1,958,438 Within Levy Limit 563,475 767,500 646,625 535,050 634,750 499,250 378,100 275,050 214,100 156,900 99,700 42,500 26,400 13,200 Excluded Debt 0 2,400,000 3,946,988 3,798,950 3,644,850 3,484,500 3,317,488 3,143,813 2,963,275 2,775,263 2,579,975 2,376,613 2,165,163 1,945,238 Within Levy Limit 2,353,475 3,316,500 3,055,625 2,789,050 3,943,750 3,303,250 3,182,100 1,979,050 1,828,100 1,770,900 1,713,700 892,500 586,400 573,200 0 0 0 0 0 0 0 Issued 2,258,475 2,170,500 1,947,825 1,719,450 2,205,350 1,641,250 1,596,500 969,850 870,300 864,500 858,700 852,900 560,000 560,000 Approved not issued (ANI)95,000 921,000 890,300 859,600 828,900 798,200 767,500 736,800 706,100 675,400 644,700 0 0 0 Not yet approved (NYA)0 225,000 217,500 210,000 909,500 863,800 818,100 272,400 251,700 231,000 210,300 39,600 26,400 13,200 Excluded Debt 0 4,725,000 8,845,988 8,845,750 8,848,450 8,853,700 8,851,088 8,845,613 8,852,075 8,844,663 8,848,575 8,843,013 8,842,963 8,847,838 0 0 0 0 0 0 0 Issued 0 4,725,000 8,845,988 8,845,750 8,848,450 8,853,700 8,851,088 8,845,613 8,852,075 8,844,663 8,848,575 8,843,013 8,842,963 8,847,838 Approved not issued (ANI) Not yet approved (NYA) Debt Summary Inside Tax Levy 2,460,475 3,305,800 3,044,925 2,778,350 3,358,050 2,742,550 2,646,400 1,968,350 1,817,400 1,370,500 1,496,500 1,050,000 586,400 573,200 Energy/Safety Improvements 831,875 803,125 774,375 740,750 712,250 340,750 327,700 317,550 310,300 304,500 298,700 292,900 0 0 School Buildings 1,064,525 1,378,600 1,187,925 1,142,775 1,784,725 1,574,675 1,525,100 1,012,400 984,200 956,000 927,800 599,600 586,400 573,200 Town Buildings 164,375 158,125 151,875 145,625 139,375 133,125 127,500 0 0 0 0 0 0 0 Vehicles Community Improvements 399,700 965,950 930,750 749,200 721,700 694,000 666,100 638,400 522,900 110,000 270,000 157,500 0 0 Excluded From Tax Levy 0 4,725,000 8,845,988 8,845,750 8,848,450 8,853,700 8,851,088 8,845,613 8,852,075 8,844,663 8,848,575 8,843,013 8,842,963 8,847,838 Energy/Safety Improvements 0 0 0 0 0 0 0 0 0 0 0 0 0 0 School Buildings 0 4,725,000 8,845,988 8,845,750 8,848,450 8,853,700 8,851,088 8,845,613 8,852,075 8,844,663 8,848,575 8,843,013 8,842,963 8,847,838 Town Buildings 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Community Improvements 0 0 0 0 0 0 0 0 0 0 0 0 0 0 19 Debt Schedule Town of Reading Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Debt Service Schedule FY - 2026 FY - 2027 FY - 2028 FY - 2029 FY - 2030 FY - 2031 FY - 2032 FY - 2033 FY - 2034 FY - 2035 FY - 2036 FY - 2037 FY - 2038 FY - 2039 FY - 2040 FY - 2041 FY - 2042 FY - 2043 FY - 2044 FY - 2045 FY - 2046 10/9/25 11:25 Principal + Interest Within Levy Limit 2,353,475 3,316,500 3,055,625 2,789,050 3,943,750 3,303,250 3,182,100 1,979,050 1,828,100 1,770,900 1,713,700 892,500 586,400 573,200 Issued 2,258,475 2,170,500 1,947,825 1,719,450 2,205,350 1,641,250 1,596,500 969,850 870,300 864,500 858,700 852,900 560,000 560,000 Approved not issued (ANI)95,000 921,000 890,300 859,600 828,900 798,200 767,500 736,800 706,100 675,400 644,700 0 0 0 Not yet approved (NYA)0 225,000 217,500 210,000 909,500 863,800 818,100 272,400 251,700 231,000 210,300 39,600 26,400 13,200 Bldng Security $4mil/10yr 413,000 399,000 385,000 371,000 357,000 Bldg Energy Improv I $5m/15yr Bldg Energy Improv II $5m/15yr 418,875 404,125 389,375 369,750 355,250 340,750 327,700 317,550 310,300 304,500 298,700 292,900 Killam Green Repair Birch Mdw Green Repair RMHS Turf II $2.225mil/10yr 188,600 182,200 175,800 169,400 158,100 RMHS Turf I $3.0mil/10yr 334,125 321,375 303,750 291,250 278,750 266,250 255,000 RMHS Fieldhouse $3 mil/10yrs 95,000 450,000 435,000 420,000 405,000 390,000 375,000 360,000 345,000 330,000 315,000 RMHS/TLT $1.5mil/10yr 145,800 140,400 RMHS Ret. Wall $500k/5yr Parker MS Roof $2.7mil/10yr 301,000 284,625 273,375 262,125 250,875 239,625 229,500 Coolidge MS Roof $2.9mil/10yr 457,000 448,300 439,600 430,900 422,200 413,500 404,800 396,100 387,400 378,700 move out 5yrs Birch Mdw ES roof $1.5mil/10yr 235,000 230,500 226,000 221,500 217,000 212,500 208,000 203,500 199,000 194,500 move out 5yrs ES Mod. class $1.2 mil/8yr Barrows/Wd End® Wood End® Barrows® Police Sta Improve $1.5mil/10yr 164,375 158,125 151,875 145,625 139,375 133,125 127,500 Pumper Engine #1 $1.5mil/3yr 575,000 550,000 525,000 West St. $1.3 mil Comm. Sustainability $1.0mil/10yr 129,400 124,700 120,000 110,300 106,000 101,500 96,800 92,300 0 0 0 0 0 0 Pickleball Courts $1.0million /10yr 0 150,000 145,000 140,000 135,000 130,000 125,000 120,000 115,000 110,000 105,000 0 0 0 Turf @ Parker MS $1.5 mill/10 years 225,000 217,500 210,000 202,500 195,000 187,500 180,000 172,500 165,000 157,500 Haven St. Streetscape $750k/5yr 163,300 155,950 148,650 0 0 0 0 0 0 0 0 0 0 0 Bch Mdow Phase II $2.14mil/10yr 107,000 310,300 299,600 288,900 278,200 267,500 256,800 246,100 235,400 Excluded Debt 0 4,725,000 8,845,988 8,845,750 8,848,450 8,853,700 8,851,088 8,845,613 8,852,075 8,844,663 8,848,575 8,843,013 8,842,963 8,847,838 Issued 0 4,725,000 8,845,988 8,845,750 8,848,450 8,853,700 8,851,088 8,845,613 8,852,075 8,844,663 8,848,575 8,843,013 8,842,963 8,847,838 Approved not issued (ANI) Not yet approved (NYA) Killam 3,310,000 6,207,550 6,211,200 6,209,913 6,213,688 6,212,113 6,210,188 6,212,713 6,209,263 6,209,850 6,209,050 6,206,663 6,212,488 6,210,900 6,206,900 6,210,288 6,210,438 6,212,150 6,210,013 6,208,813 Reading Center for Active Living 1,415,000 2,638,438 2,634,550 2,638,538 2,640,013 2,638,975 2,635,425 2,639,363 2,635,400 2,638,725 2,633,963 2,636,300 2,635,350 2,641,113 2,633,200 1,222,000 Library Project $10+mil Library Project $2.115mil 20 Debt Schedule Town of Reading Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Debt Service Schedule FY - 2026 FY - 2027 FY - 2028 FY - 2029 FY - 2030 FY - 2031 FY - 2032 FY - 2033 FY - 2034 FY - 2035 FY - 2036 FY - 2037 FY - 2038 FY - 2039 FY - 2040 FY - 2041 FY - 2042 FY - 2043 FY - 2044 FY - 2045 FY - 2046 10/9/25 11:25 Principal Within Levy Limit 1,790,000 2,549,000 2,409,000 2,254,000 3,309,000 2,804,000 2,804,000 1,704,000 1,614,000 1,614,000 1,614,000 850,000 560,000 560,000 Issued 1,790,000 1,785,000 1,645,000 1,490,000 2,045,000 1,540,000 1,540,000 940,000 850,000 850,000 850,000 850,000 560,000 560,000 Approved not issued (ANI)0 614,000 614,000 614,000 614,000 614,000 614,000 614,000 614,000 614,000 614,000 Not yet approved (NYA)0 150,000 150,000 150,000 650,000 650,000 650,000 150,000 150,000 150,000 150,000 Bldng Security $4mil/10yr 350,000 350,000 350,000 350,000 350,000 Bldg Energy Improv I $5m/15yr Bldg Energy Improv II $5m/15yr 295,000 295,000 295,000 290,000 290,000 290,000 290,000 290,000 290,000 290,000 290,000 290,000 4,377,300 Killam Green Repair Birch Mdw Green Repair RMHS Turf II $2.225mil/10yr 160,000 160,000 160,000 160,000 155,000 RMHS Turf I $3.0mil/10yr 255,000 255,000 250,000 250,000 250,000 250,000 250,000 2,521,300 RMHS Fieldhouse $3 mil/10yrs 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 3,000,000 RMHS/TLT $1.5mil/10yr 135,000 135,000 RMHS Ret. Wall $500k/5yr Parker MS Roof $2.7mil/10yr 230,000 225,000 225,000 225,000 225,000 225,000 225,000 2,270,000 Coolidge MS Roof $3.7mil/10yr 370,000 370,000 370,000 370,000 370,000 370,000 370,000 370,000 370,000 370,000 3,700,000 Birch Mdw ES roof $1.9mil/10yr 190,000 190,000 190,000 190,000 190,000 190,000 190,000 190,000 190,000 190,000 1,900,000 ES Mod. class $1.2 mil/8yr Barrows/Wd End® Wood End® Barrows® Police Sta Improve $1.5mil/10yr 125,000 125,000 125,000 125,000 125,000 125,000 125,000 1,261,400 Pumper Engine #1 $1.5mil/3yr 500,000 500,000 500,000 West St. $1.3 mil Comm. Sustainability $925k/10yr 95,000 95,000 95,000 90,000 90,000 90,000 90,000 90,000 Pickleball Courts $1.0million /10yr 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 - - - 266,665 1,266,665 Turf @ Parker MS $1.50 mill/10 yrs 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 1,500,000 Haven St. Streetscape $730k/5yr 145,000 145,000 145,000 730,000 Bch Mdow Phase II $2.14mil/10yr 214,000 214,000 214,000 214,000 214,000 214,000 214,000 214,000 214,000 214,000 2,140,000 Excluded Debt 0 2,325,000 4,355,000 4,530,000 4,715,000 4,910,000 5,105,000 5,305,000 5,525,000 5,740,000 5,975,000 6,210,000 6,460,000 6,725,000 7,000,000 7,270,000 6,155,000 5,185,000 5,400,000 5,620,000 5,850,000 Issued 0 2,325,000 4,355,000 4,530,000 4,715,000 4,910,000 5,105,000 5,305,000 5,525,000 5,740,000 5,975,000 6,210,000 6,460,000 6,725,000 7,000,000 7,270,000 6,155,000 5,185,000 5,400,000 5,620,000 5,850,000 Approved not issued (ANI) Not yet approved (NYA) Killam 1st tranche $45 million 1,510,000 1,570,000 1,635,000 1,700,000 1,770,000 1,840,000 1,915,000 1,990,000 2,070,000 2,150,000 2,235,000 2,325,000 2,420,000 2,515,000 2,615,000 2,720,000 2,830,000 2,945,000 3,060,000 3,185,000 Killam 2nd tranche $38.54 million 1,260,000 1,315,000 1,370,000 1,430,000 1,490,000 1,550,000 1,620,000 1,685,000 1,760,000 1,835,000 1,910,000 1,995,000 2,080,000 2,165,000 2,260,000 2,355,000 2,455,000 2,560,000 2,665,000 ReCAL 1st tranche $16 million 815,000 845,000 875,000 910,000 945,000 980,000 1,015,000 1,055,000 1,090,000 1,135,000 1,175,000 1,220,000 1,265,000 1,315,000 1,360,000 ReCAL 2nd tranche $13.6 million 680,000 705,000 735,000 765,000 795,000 825,000 860,000 895,000 930,000 965,000 1,005,000 1,045,000 1,090,000 1,130,000 1,175,000 Library Project $10+mil Library Project $2.115mil 21 Debt Schedule Town of Reading Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Debt Service Schedule FY - 2026 FY - 2027 FY - 2028 FY - 2029 FY - 2030 FY - 2031 FY - 2032 FY - 2033 FY - 2034 FY - 2035 FY - 2036 FY - 2037 FY - 2038 FY - 2039 FY - 2040 FY - 2041 FY - 2042 FY - 2043 FY - 2044 FY - 2045 FY - 2046 10/9/25 11:25 Interest Within Levy Limit 563,475 767,500 646,625 535,050 634,750 499,250 378,100 275,050 214,100 156,900 99,700 42,500 26,400 13,200 Issued 468,475 385,500 302,825 229,450 160,350 101,250 56,500 29,850 20,300 14,500 8,700 2,900 0 0 Approved not issued (ANI)95,000 307,000 276,300 245,600 214,900 184,200 153,500 122,800 92,100 61,400 30,700 0 0 Not yet approved (NYA)0 75,000 67,500 60,000 259,500 213,800 168,100 122,400 101,700 81,000 60,300 39,600 26,400 13,200 (13,338)0 0 0 0 0 1,288,500 Bldng Security $4mil/10yr 63,000 49,000 35,000 21,000 7,000 448,400 Bldg Energy Improv I $5m/15yr 54,656 Bldg Energy Improv II $5m/15yr 123,875 109,125 94,375 79,750 65,250 50,750 37,700 27,550 20,300 14,500 8,700 2,900 1,131,367 Killam Green Repair Birch Mdw Green Repair RMHS Turf II $2.225mil/10yr 28,600 22,200 15,800 9,400 3,100 RMHS Turf I $3.0mil/10yr 79,125 66,375 53,750 41,250 28,750 16,250 5,000 630,025 RMHS Fieldhouse $3 mil/10yrs 95,000 150,000 135,000 120,000 105,000 90,000 75,000 60,000 45,000 30,000 15,000 RMHS/TLT $1.5mil/10yr 10,800 5,400 RMHS Ret. Wall $500k/5yr Parker MS Roof $2.7mil/10yr 71,000 59,625 48,375 37,125 25,875 14,625 4,500 566,302 Coolidge MS Roof $2.9mil/10yr 87,000 78,300 69,600 60,900 52,200 43,500 34,800 26,100 17,400 8,700 478,500 Birch Mdw ES roof $1.5mil/10yr 45,000 40,500 36,000 31,500 27,000 22,500 18,000 13,500 9,000 4,500 247,500 ES Mod. class $1.2 mil/8yr 12,000 Barrows/Wd End® Wood End® Barrows® Police Sta Improve $1.5mil/10yr 39,375 33,125 26,875 20,625 14,375 8,125 2,500 314,539 Pumper Engine #1 $1.5mil/3yr 75,000 50,000 25,000 150,000 West St. $1.3 mil Comm. Sustainability $925k/10yr 34,400 29,700 25,000 20,300 16,000 11,500 6,800 2,300 Haven St. Streetscape $730k/5yr 18,300 10,950 3,650 88,150 Pickleball Courts $1.0 million /10yr 50,000 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 (13,338)261,662 Turf @ Parker MS $1.50 mill/10 years 75,000 67,500 60,000 52,500 45,000 37,500 30,000 22,500 15,000 7,500 Bch Mdow Phase II $2.14mil/10yr 107,000 96,300 85,600 74,900 64,200 53,500 42,800 32,100 21,400 10,700 Excluded Debt 0 2,400,000 3,946,988 3,798,950 3,644,850 3,484,500 3,317,488 3,143,813 2,963,275 2,775,263 2,579,975 2,376,613 2,165,163 1,945,238 1,716,213 1,477,900 1,230,288 1,025,438 812,150 590,013 358,813 Issued 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Approved not issued (ANI)2,400,000 3,946,988 3,798,950 3,644,850 3,484,500 3,317,488 3,143,813 2,963,275 2,775,263 2,579,975 2,376,613 2,165,163 1,945,238 1,716,213 1,477,900 1,230,288 1,025,438 812,150 590,013 358,813 Not yet approved (NYA) Killam 1st tranche $45 million 1,800,000 1,739,600 1,676,800 1,611,400 1,543,400 1,472,600 1,399,000 1,322,400 1,242,800 1,160,000 1,074,000 984,600 891,600 794,800 694,200 589,600 480,800 367,600 249,800 127,400 Killam 2nd tranche $38.54 million 1,637,950 1,584,400 1,528,513 1,470,288 1,409,513 1,346,188 1,280,313 1,211,463 1,139,850 1,065,050 987,063 905,888 821,100 732,700 640,688 544,638 444,550 340,213 231,413 ReCAL 1st tranche $16 millioon 600,000 569,438 537,750 504,938 470,813 435,375 398,625 360,563 321,000 280,125 237,563 193,500 147,750 100,313 51,000 ReCAL 2nd tranche $13.6 million 544,000 516,800 488,600 459,200 428,600 396,800 363,800 329,400 293,600 256,400 217,800 177,600 135,800 92,200 47,000 Library Project $10+mil Library Project $2.115mil 22 Water Enterprise Fund Capital Debt Page 1 of 3 Projected ==>Legend: DEBT (Issued); debtani (Approved, Not Issued) and debtna (not yet approved)FY25-44 Water Ent. Fund Capital & Debt FY-2025 FY-2026 FY-2027 FY-2028 FY-2029 FY-2030 FY-2031 FY-2032 FY-2033 FY-2034 FY-2035 FY-2036 FY-2037 FY-2038 FY-2039 FY-2040 FY-2041 FY-2042 FY-2043 FY-2044 TOTAL Water Capital 635,000 725,000 450,000 380,000 270,000 340,000 300,000 340,000 384,000 257,000 150,000 290,000 525,000 150,000 175,000 175,000 175,000 295,000 - 6,016,000 Water Debt 2,635,500 2,512,325 2,819,000 3,680,217 3,232,133 3,139,300 3,049,117 2,644,109 2,272,651 2,047,818 1,727,385 1,519,452 1,461,519 787,586 761,153 734,720 703,337 479,004 110,000 36,421,330 Total Capital & Debt 3,270,500 3,237,325 3,269,000 4,060,217 3,502,133 3,479,300 3,349,117 2,984,109 2,656,651 2,304,818 1,877,385 1,809,452 1,986,519 937,586 936,153 909,720 878,337 774,004 110,000 105,000 42,437,330 Water CAPITAL 635,000 725,000 450,000 380,000 270,000 340,000 300,000 340,000 384,000 257,000 150,000 290,000 525,000 150,000 175,000 175,000 175,000 295,000 - - 6,016,000 MWRA ($3.18mil partial join)1 Debt Debt Debt - MWRA ($7.8mil full join)2 Debt Debt Debt Debt - Well Abandonment 225,000 225,000 Auburn Tank $4.5 mil/20yr 3 Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt - Auburn Tank $2.0 mil/20yr 3a Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt - Aub Tank used $0.5 mil EF rsrvs 3b - WM:Hvrhll&Howard ($2.05m)4 - WM(M):loan to be used 5 - WM(M) Ph 1 R#1 $4.012mil/10yr 6 - WM Ph 1 R#2 $1.165mil/10yr 7a Debt Debt - WM Ph 1 R#2 $3.106 mil/10yr 7b Debt Debt Debt - WM Grove St $1.0mil/5yrs 8 Debt - WM Gazebo $1.1mil/10yr 9 Debt Debt Debt Debt Debt Debt Debt - Water Main Repairs (WBrk #1)- Water Main Repairs - - - Emerson Ave WM - WM Downtown I $2.8 mil/10yr 10a Debt Debt Debt Debt Debt Debt Debt - WM(M) Downtown I $1.5mil 10b Debt Debt Debt Debt Debt Debt Debt Debt - WM(M) Downtown I $1.544mil 10c.Debt Debt Debt Debt Debt Debt Debt Debt Debt - Lead Removal (M) $1.5mil 11 Debt Debt Debt Debt Debt Debt Debt Debt - Replace Meters $2.0mil/8yr 12 debtna debtna debtna debtna debtna debtna debtna debtna - WM Downtown II $5.2 mil/15yr 13 debtna debtna debtna debtna debtna debtna debtna debtna debtna debtna debtna debtna debtna debtna debtna - WM Sanborn Street (Woburn St to Haven St)14 560,000 WM Hopkins Street (Bear Hill Rd to Main St)15 600,000 WM Van Norden $2.8 mill/10yrs 16 debtna debtna debtna debtna debtna debtna debtna debtna debtna debtna WM Franklin St $3.5 mill/10yrs 17 debtna debtna debtna debtna debtna debtna debtna debtna debtna debtna Water Distribution Unidirectional Flushing Program 40,000 40,000 40,000 45,000 165,000 WM Lining Program 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 2,350,000 SCADA Upgrade (every 5 yrs)50,000 75,000 75,000 75,000 275,000 Water Vehicles WS-01 Replace Pickup Truck #12 (2021)100,000 100,000 W-02 Replace Pickup #15 (2020)100,000 100,000 W-03 Replace Pickup Truck #3 (2021)100,000 100,000 W-05 Replace Utility Truck #5 (2016)280,000 280,000 W-06 Replace Truck #6 (2020)300,000 300,000 W-07 Replace Truck #14 (2015)350,000 350,000 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)15,000 15,000 W-20 Trailer (1999)- 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 23 Water Enterprise Fund Capital Debt Page 2 of 3 Projected ==>Legend: DEBT (Issued); debtani (Approved, Not Issued) and debtna (not yet approved)FY25-44 Water Ent. Fund Capital & Debt FY-2025 FY-2026 FY-2027 FY-2028 FY-2029 FY-2030 FY-2031 FY-2032 FY-2033 FY-2034 FY-2035 FY-2036 FY-2037 FY-2038 FY-2039 FY-2040 FY-2041 FY-2042 FY-2043 FY-2044 TOTAL Water DEBT 2,635,500 2,512,325 2,819,000 3,680,217 3,232,133 3,139,300 3,049,117 2,644,109 2,272,651 2,047,818 1,727,385 1,519,452 1,461,519 787,586 761,153 734,720 703,337 479,004 110,000 105,000 36,421,330 Join MWRA(partial $3.18m)1 169,900 153,700 149,350 472,950 Join MWRA(full $7.8m) ®2 402,750 388,350 370,825 355,250 1,517,175 Auburn Tank $4.5 mil/20yr 3 312,525 302,275 292,025 281,775 271,525 261,275 252,050 244,875 239,750 235,650 231,550 205,000 205,000 205,000 205,000 205,000 200,000 - 4,150,275 Auburn Tank $2.0 mil/20yr 3a 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 3,050,000 WM:Hvrhll&Howard ($2.05m)4 - WM(M):loan to be used 5 - WM(M) Ph 1 R#1 $4.012mil/10yr 6 - - - - - - - - - - - - WM Ph 1 R#2 $1.165mil/10yr 7a 121,900 117,300 - - - - - - - - - 239,200 WM Ph 1 R#2 $3.106 mil/10yr 7b 347,200 334,800 322,400 - - - - - - - - 1,004,400 WM Grove St $1.0mil/5yrs 8 188,700 - - - - - - - - - - 188,700 WM Gazebo $1.1mil/10yr 9 123,975 119,225 114,475 104,850 100,350 95,850 91,800 - - - - 750,525 WM Downtown I $2.8 mil/10yr 10a 314,150 297,275 285,525 273,775 262,025 250,275 239,700 - - - - 1,922,725 WM(M) Downtown I $1.5mil 10b 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 - - - 1,200,000 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 - - 1,389,600 Lead Removal (M) $1.5mil 11 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 1,200,000 Lead Removal (M) Phase II $1.5mil 11a 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 WM Van Norden $2.8 mill/10yrs 16 140,000 406,000 392,000 378,000 364,000 350,000 336,000 322,000 308,000 294,000 3,290,000 WM Franklin St $3.5 mill/10yrs 17 525,000 507,500 490,000 472,500 455,000 437,500 420,000 402,500 385,000 367,500 4,462,500 Repayment of Principal:2,219,400 2,169,400 2,299,400 2,811,067 2,461,067 2,461,067 2,461,067 2,136,067 1,836,067 1,681,667 1,431,667 1,281,667 1,281,667 651,667 651,667 651,667 646,667 446,667 100,000 100,000 29,779,600 Join MWRA(partial $3.18m)1 155,000 145,000 145,000 445,000 Join MWRA(full $7.8m) ®2 360,000 360,000 355,000 350,000 1,425,000 Auburn Tank $4.5 mil/20yr 3 205,000 205,000 205,000 205,000 205,000 205,000 205,000 205,000 205,000 205,000 205,000 205,000 205,000 205,000 205,000 205,000 200,000 3,480,000 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 - WM Ph 1 R#2 $1.165mil/10yr 7a 115,000 115,000 230,000 WM Ph 1 R#2 $3.106 mil/10yr 7b 310,000 310,000 310,000 930,000 WM Grove St $1.0mil/5yrs 8 185,000 185,000 WM Gazebo $1.1mil/10yr 9 95,000 95,000 95,000 90,000 90,000 90,000 90,000 645,000 WM Downtown I $2.8 mil/10yr 10a 240,000 235,000 235,000 235,000 235,000 235,000 235,000 1,650,000 WM(M) Downtown I $1.5mil 10b 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 1,200,000 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 1,389,600 Lead Removal (M) $1.5mil 11 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 1,200,000 Lead Removal (M) Phase II $1.5mil 11a 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 WM Van Norden $2.8 mill/10yrs 16 280,000 280,000 280,000 280,000 280,000 280,000 280,000 280,000 280,000 280,000 2,800,000 WM Franklin St $3.5 mill/10yrs 17 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 3,500,000 Interest on Long Term Debt:416,100 342,925 519,600 869,150 771,067 678,234 588,051 508,043 436,585 366,152 295,719 237,786 179,853 135,920 109,487 83,054 56,671 32,338 10,000 5,000 6,641,730 Join MWRA(partial $3.18m)1 14,900 8,700 4,350 27,950 Join MWRA(full $7.8m) ®2 42,750 28,350 15,825 5,250 92,175 Auburn Tank $4.5 mil/20yr 3 107,525 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 2,000 743,525 Auburn Tank $2.0 mil/20yr 3a 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 1,050,000 WM(M) Ph 1 R#1 $4.012mil/10yr 6 - WM Ph 1 R#2 $1.165mil/10yr 7a 6,900 2,300 9,200 WM Ph 1 R#2 $3.106 mil/10yr 7b 37,200 24,800 12,400 74,400 WM Grove St $1.0mil/5yrs 8 3,700 3,700 WM Gazebo $1.1mil/10yr 9 28,975 24,225 19,475 14,850 10,350 5,850 1,800 105,525 WM Downtown I $2.8 mil/10yr 10a 74,150 62,275 50,525 38,775 27,025 15,275 4,700 272,725 WM(M) Downtown I $1.5mil 10b - WM(M) Downtown II $1.544mil 10c.- 24 Water Enterprise Fund Capital Debt Page 3 of 3 Projected ==>Legend: DEBT (Issued); debtani (Approved, Not Issued) and debtna (not yet approved)FY25-44 Water Ent. Fund Capital & Debt FY-2025 FY-2026 FY-2027 FY-2028 FY-2029 FY-2030 FY-2031 FY-2032 FY-2033 FY-2034 FY-2035 FY-2036 FY-2037 FY-2038 FY-2039 FY-2040 FY-2041 FY-2042 FY-2043 FY-2044 TOTAL Lead Removal (M) $1.5mil 11 - Lead Removal (M) Phase II $1.5mil 11a 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 WM Van Norden $2.8 mill/10yrs 16 140,000 126,000 112,000 98,000 84,000 70,000 56,000 42,000 28,000 14,000 770,000 WM Franklin St $3.5 mill/10yrs 17 175,000 157,500 140,000 122,500 105,000 87,500 70,000 52,500 35,000 17,500 962,500 25 Sewer Enterprise Fund Capital + Debt 1 of 2 10/9/2025 11:27 Legend: DEBT (Issued); debtani (Approved, Not Issued) and debtna (not yet approved)FY25-36 Sewer Ent. Fund Capital & Debt FY-2025 FY-2026 FY-2027 FY-2028 FY-2029 FY-2030 FY-2031 FY-2032 FY-2033 FY-2034 FY-2035 FY-2036 TOTAL Sewer Capital 675,000 715,000 300,000 130,000 375,000 350,000 625,000 125,000 125,000 275,000 1,800,000 - 5,495,000 Sewer Debt 1,331,075 1,035,725 1,098,175 1,020,925 1,392,125 948,825 911,350 775,000 746,250 392,500 130,000 104,000 9,885,950 Total Capital & Debt 2,006,075 1,750,725 1,398,175 1,150,925 1,767,125 1,298,825 1,536,350 900,000 871,250 667,500 1,930,000 104,000 15,380,950 Sewer CAPITAL 675,000 715,000 300,000 130,000 375,000 350,000 625,000 125,000 125,000 275,000 1,800,000 - 6,030,000 Sewer Main projects 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 - Station: Sturges $2 mil/5yrs 4 debt debt - Station: Sturges additional funding - Station: Joseph's Way $1.03mil ($915k debt 5 yrs)6 125,000 debtna debtna debtna debtna debtna 125,000 Station: Brewer Lane $1.03mil (915k debt 5yrs)7 125,000 debtna debtna debtna debtna debtna 125,000 Station: Collins Ave. $1.775mill. ($1.5 mill. debt over 10 yrs)275,000 debtna debtna debtna debtna debtna debtna 275,000 Portable Generator - Collins $30k 30,000 30,000 Station: Small Lane $1.4 mill ($1.15 million debt 10 years)250,000 debtna debtna debtna debtna debtna 250,000 Station: Grove St. $1.67mil ($1.5 debt over 10 years)270,000 debtna debtna debtna debtna debtna debtna debtna debtna debtna 270,000 Station: Strout Ave. $1.67 mil ($1.5 debt over 10 years)270,000 debtna debtna debtna debtna debtna debtna debtna debtna debtna 270,000 SCADA Upgrade Portable Generator - Grove $30k - Station: Longwood Rd. $200k 200,000 Station: Pitman Drive $1.8mil 150,000 1,650,000 1,800,000 MWRA Inflow & Infiltration debt debt debt debt debt debt debt debt debt debt debt debt - Downtown Improve II design - Downtown Improve II $1.0mil/10yrs 3 debt debt debt debt debt debt debt - Downtown Improve II add'l funding - Meter Replacements $2.0mil/8yrs 5 debtna debtna debtna debtna debtna debtna debtna debtna - S-02 Pickup #8 (2016)110,000 110,000 S-03 Pickup #6 (2020)100,000 100,000 S-04 Pickup #10 (2020)100,000 100,000 S-05 Pickup #17 (2015)100,000 100,000 S-06 Truck #17 (2015)300,000 300,000 S-07 Vacuum Truck #1 (split w/StWtr 2018)425,000 425,000 S-08 Vacuum Truck (split w/StWtr)350,000 350,000 S-10 Portable Pump - trailer (2020)- S-11 Generator Tow behind (1994)90,000 90,000 Engineering Vehicle (split w/Wtr)35,000 35,000 Sewer DEBT 1,331,075 1,035,725 1,098,175 1,020,925 1,392,125 948,825 911,350 775,000 746,250 392,500 130,000 104,000 9,885,950 MWRA Inflow & Infiltration 1 68,200 68,200 68,200 26,000 26,000 256,600 Station: Charles St. $2.4mil/8yrs 2 280,800 280,800 Downtown Improve II $1.0mil/10yrs 3 111,575 107,325 218,900 Station: Sturges $2 mil/5yrs 4 387,000 369,000 756,000 26 Sewer Enterprise Fund Capital + Debt 2 of 2 Meter Replacements $2.0mil/8yrs 5 350,000 337,500 325,000 312,500 300,000 287,500 275,000 262,500 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:1,175,200 931,200 925,200 883,000 1,208,000 816,000 811,000 705,000 705,000 380,000 130,000 104,000 8,773,600 MWRA Inflow & Infiltration P7 1a - MWRA Inflow & Infiltration P9 1c 42,200 42,200 42,200 126,600 MWRA Inflow & Infiltration P11 1d 26,000 26,000 26,000 26,000 26,000 130,000 MWRA Inflow & Infiltration P12 1d 26,000 26,000 26,000 26,000 26,000 26,000 26,000 182,000 MWRA Inflow & Infiltration P13 104,000 104,000 104,000 104,000 104,000 104,000 104,000 104,000 104,000 104,000 1,040,000 MWRA Inflow & Infiltration P14 1d 26,000 26,000 26,000 26,000 26,000 26,000 26,000 26,000 26,000 26,000 260,000 Station: Chas St. $2.4mil/8yrs 2 270,000 270,000 Downtown Improve II $1.0mil/10yrs 3 85,000 85,000 85,000 85,000 85,000 85,000 80,000 590,000 Station: Sturges $2 mil/5yrs 4 360,000 360,000 720,000 Meter Replacements $2.0mil/8yrs 5 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 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 1,625,000 Interest on Long Term Debt:155,875 104,525 172,975 137,925 184,125 132,825 100,350 70,000 41,250 12,500 - 1,112,350 MWRA Inflow & Infiltration 1 - Station: Chas St. $2.4mil/8yrs 2 10,800 10,800 Downtown Improve II $1.0mil/10yrs 3 26,575 22,325 18,075 13,825 9,575 5,325 1,600 97,300 Station: Sturges $2 mil/5yrs 4 27,000 9,000 36,000 Meter Replacements $2.0mil/8yrs 5 100,000 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 27 Storm Water Enterprise Fund Capital + Debt 1 of 1 Legend: DEBT (Issued); debtani (Approved, Not Issued) and debtna (not yet approved)FY25-35 FY33-35 not shown Storm Water Ent. Fund Capital & Debt FY-2025 FY-2026 FY-2027 FY-2028 FY-2029 FY-2030 FY-2031 FY-2032 FY-2033 FY-2034 FY-2035 TOTAL Storm Water Capital 650,000 200,000 200,000 200,000 200,000 200,000 200,000 300,000 300,000 300,000 300,000 3,050,000 Storm Water Debt 111,575 107,325 103,075 98,825 94,575 90,325 81,600 - - - - 687,300 Total Capital & Debt 761,575 307,325 303,075 298,825 294,575 290,325 281,600 300,000 300,000 300,000 300,000 3,737,300 Storm Water CAPITAL 650,000 200,000 200,000 200,000 200,000 200,000 200,000 300,000 300,000 300,000 300,000 3,050,000 Drainage Improvm. (projects)200,000 200,000 200,000 200,000 200,000 200,000 200,000 100,000 100,000 300,000 300,000 2,200,000 Downtown Improve II $1.0mil/10yrs 1 debt debt debt debt debt debt debt - Memorial Park project (lining)- Drainage Master Plan 100,000 100,000 Maillet Sommes Project - Saugus River Design/Permit 200,000 200,000 Saugus Rvr Improvements TBD 3 - Aberjona River Design/Permit 200,000 200,000 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 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 111,575 107,325 103,075 98,825 94,575 90,325 81,600 - - - - 687,300 Downtown Improve II $1.0mil/10yrs 1 111,575 107,325 103,075 98,825 94,575 90,325 81,600 - - - - 687,300 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 80,000 - - - - 590,000 Downtown Improve II $1.0mil/10yrs 1 85,000 85,000 85,000 85,000 85,000 85,000 80,000 590,000 Saugus Rvr Improvements TBD 3 - Aberjona Rvr Improvements TBD 4 - - Interest on Long Term Debt:26,575 22,325 18,075 13,825 9,575 5,325 1,600 - - - - 97,300 Downtown Improve II $1.0mil/10yrs 1 26,575 22,325 18,075 13,825 9,575 5,325 1,600 97,300 DPW Bldg Project/25 yrs TBA 2 - Saugus Rvr Improvements TBD 3 - Aberjona Rvr Improvements TBD 4 - 28 COMMONWEALTH OF MASSACHUSETTS Middlesex, ss. Officer's Return, Town of Reading: By virtue of this Warrant, I ______________________________, on ____________, 2025 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 10, 2025, the date set for Town Meeting in this Warrant. _____________________________________________ Constable A true copy Attest: _____________________________________________ Laura Gemme, Town Clerk 29 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 10, 2025 at seven-thirty o’clock in the evening, at which time 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. 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 2026-36 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 30 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 FY2026 – FY2036 CIP (current year plus ten years): General Fund FY26: +$698,000 net change $ 200,000 RMHS Lighting Control Upgrade $ 180,000 Parker MS Auditorium Lighting Upgrade (Increase by $180k to 230K) $ 150,000 Pumper Engine #2 (Increase by $150k to $1.3 million) $ 240,000 Transition to Zoll ALS Defibrillator Monitor System (Increase by $240k to $310k) - $ 72,000 Road Paving (Decrease by $72k to $576k, Extra Ch. 90 Funds coming in.) FY27: -$221,500 net change (Reduce Capital/Debt Spending from 5% to 4.75%) - $200,000 Facilities Master Plan (Moved from FY27 to FY28) $ 17,000 Fire Station # 1 Main Street Elevator Replacement (Increase $17K to $300k) - $ 55,000 Electrician’s Van Ford E350 (2014) (Moved from FY27 to FY29) $ 65,000 Bobcat Skid S130 (2008) (Moved from FY29 to FY27) $ 80,000 Servers for Building Security System for Town and Schools - $ 5,000 Town Technology (Decrease by $5k to $125k) - $ 45,000 Ambulance Equipment (Move from FY27 to FY28) - $ 80,000 Fire Pickup Truck #1 (2012) (Moved from FY27 to FY28) $ 50,000 Fire Turnout Gear (Increase by $50k to $350k) $100,000 Parks Tractor JD4520 (2012) (Increase by $20k to $100k & moved fr. FY29 to FY27) $ 12,500 Cemetery SKAG Mower (2012) (Moved from FY28 to FY27) - $ 40,000 Sidewalk/Curb/Ped. Safety (Reduce by $40k to $120k) - $ 25,000 Skim Coating & Crack Seal Patch (Reduce by $25k to $100k) - $ 96,000 Road Paving (Reduce by $96k to $685k) FY28: $144,000 net change $200,000 Facilities Master Plan (Moved from FY27 to FY28) $ 73,000 Town Hall Elevator Replacement (Increase by $73k to $325k) - $ 75,000 Coolidge MS HVAC Steam Traps (Moved from FY28 to FY29) - $ 70,000 Carpet/Flooring (Moved from FY28 to FY29) -$ 40,000 School Doors/Windows (Moved from FY28 to FY30) $ 45,000 Ambulance Equipment (Moved from FY27 to FY28) $ 80,000 Fire Pickup Truck #1 (2012) (Moved from FY27 to FY28) - $ 80,000 Police Unmarked Vehicles (Moved from FY27 to FY28) $120,000 DPW Dump Truck C2 (2012) (Moved from FY29 to FY28) - $ 24,000 Cemetery SKAG Mower (2017) (Moved from FY28 to FY29) - $ 12,500 Cemetery SKAG Mower 48” (2016) (Moved from FY28 to FY29) - $ 12,500 Cemetery SKAG Mower 36” (2012) (Moved from FY28 to FY27) - $ 30,000 Parks SKAG TT Mower #5 (2017) (Moved from FY28 to FY29) - $175,000 Parks Toro 5910N Mower (2014) (Moved from FY28 to FY29) - $ 40,000 Parks Smith Co 60 Turf Sweeper (2016) (Moved from FY28 to FY31) $125,000 Sidewalk/Curb/Ped. Safety -$ 25,000 Skim Coating & Crack Seal Patch 31 $ 85,000 Road Paving (Increase by $85k to $685k) Enterprise Funds – Water FY26: +$0 FY27: +$50,000 $ 50,000 Water Truck #14(Increase by $50k to $350k) FY28: +$0 Enterprise Funds – Sewer FY26: +$0 FY27: +$10,000 $ 10,000 Sewer Pickup Truck #8 (2016) (Increase by $10k to $110k) FY28: +$0 Enterprise Funds – Storm Water FY26: +$0 FY27: +$0 FY28: +$0 Finance Committee Report: The Finance Committee recommends the proposed amendments to the FY 2026 – FY 2036 Capital Improvements Program by a vote of _____ at their meeting on October 15, 2025. 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, 2025, as adopted under Article 11 of the Annual Town Meeting of April 28, 2025; 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: 32 Account Line Description Decrease Increase B99 – Benefits Health Insurance +$305,000 Worker Comp -$ 90,000 $215,000 C-99- Capital See Article 4 $698,000 D-99- Debt Borrowings delayed until Jan 2026 $698,000 E99 – Regional Vocational Education NERMVS +$240,000 operating budget went up over 10.18% in FY26, and we have more students going there, giving us a larger share of the debt on the new building and the operating budget than projected $240,000 F99- FINCOM Reserves Reimbursement for Public Safety Radio amplification work for the HS 50,000 J92 – Public Safety Expenses Health - Rodent Control 50,000 K91 – Public Works Wages Attrition savings Subtotals $698,000 $1,253,000 Net Operating Expenses From Free Cash From Additional State Aid $355,000 $200,000 Finance Committee Report: At their meeting on October 15, 2025, 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 rescind, reallocate, and transfer $198,681.73 or any other sum of money, from previously approved appropriations, for the purpose of paying any and all costs associated with certain projects, as itemized and described below: Original Project Original Town Meeting Approval Amount to be Reallocated New Purposes Police Station Renovation 10/18/21 $1,302.63 Killam School Building Project Energy Improvements II 10/18/21 $17,977.73 Senior Center Project Parker Roof 4/26/21 $42,447.62 Senior Center Project Building Security Project 4/22/19 $13,996.56 Senior Center Project Turf II Improvements 4/22/19 $882.00 Killam School Building Project RMHS Turf/Track 4/26/21 $13.29 Killam School Building Project BM Field Lighting Design 4/27/15 $28,349.21 Senior Center Project Library Renovations 1/28/13 $93,712.69 Killam School Building Project 33 Total: $198,681.73 or take any other action with respect thereto. Select Board Background: The chart above details the amount remaining from completed capital projects funded by debt. When a project is financed with debt, the remainder can only be transferred to another project with similar or greater borrowing terms. The two building projects qualify to receive the transfer from these projects. This article seeks to transfer $95,910,61 to the Killam project and $102,771.12 to the Reading Center for Active Living project. Transferring these balances will not increase the budgets of the projects but will reduce the borrowing needed for these projects. Finance Committee Report: At their meeting on October 15, 2025, the Finance Committee voted _____ to recommend this Article to Town Meeting. Bylaw Committee Report: No Report. ARTICLE 6 To see if the Town will vote to raise and appropriately 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: We currently have two prior-year invoices. One is from the City of Woburn for $3,245; the bill covers residential sewer charges from January 2025 to June 2025 for 22 residents of Reading who are connected to the Woburn Sewer System. The bill was received on October 1st after our fiscal year had closed. If approved, the funding would come from the sewer certified surplus. The second is a reimbursement request for $246.03 from a Nextstep volunteer for improvements made to the Mattera Cabin deck in June. My office received the reimbursement request on October 1st. The funding to cover this reimbursement would come from free cash. Finance Committee Report: At their meeting on October 15, 2025, the Finance Committee voted _____ to recommend this Article to Town Meeting. Bylaw Committee Report: No Report. ARTICLE 7 To see if the Town will vote to adopt G.L. c. 60 § 3F, which authorizes the Town to designate a place on municipal property tax bills or motor vehicle excise bills or mail with such bills a separate form whereby taxpayers may voluntarily check off, donate and pledge an amount of money which shall increase the amount already due to establish to fund a municipal veterans assistance fund, or to take any other action with respect thereto. Select Board 34 Background: Massachusetts General Law Chapter 60 Section 3F allows municipalities to designate a space on property tax or motor vehicle excise tax bills, where taxpayers may voluntarily check off and pledge an additional amount to be deposited into a special Municipal Veterans Assistance Fund. The Fund will be managed by the local Veterans’ Agent, and the money invested by the Treasurer. Money in the fund shall be used to provide support for veterans and their dependents in need of immediate assistance with food, transportation, heat and oil expenses. Finance Committee Report: At their meeting on October 15, 2025, the Finance Committee voted _____ to recommend this Article to Town Meeting. Bylaw Committee Report: At their meeting on October 9, 2025, the Bylaw Committee voted _____ to recommend this Article to Town Meeting. ARTICLE 8 To see if the Town will vote to amend the Reading Home Rule Charter as follows, with text to be inserted shown as bold, italicized, and underline, and text to be deleted shown with a strikethrough, subject to approval by the voters at an election: Preamble We, the people of The Town of Reading, in order to re -establish our individual sovereignty with respect to the conduct of our local government and to take the fullest advantages inherent in the Home Rule Amendment to the Constitution of the Commonwealth of Massachusetts, do hereby adopt the following Home Rule Charter for the Town of Reading. ARTICLE 1 EXISTENCE, AUTHORITY AND DEFINITIONS 1.1 Incorporation The inhabitants of the Town of Reading, within the territorial limits established by law, shall continue to be a body corporate and politic under the name "Town of Reading." 1.2 Division of Powers Authority for the management of all the fiscal, prudential and municipal affairs of the Town shall be vested in an executive branch headed by a Board of Selectmen Select Board and administered by a Town Manager. A representative Town Meeting shall exercise all legislative powers of the Town. 1.3 Powers of the Town - Intent of the Voters It is the intent and the purpose of the voters of the Town of Reading, through the adoption of the Charter, to secure for the Town all of the powers possible to secure under the Constitution and statutes of the Commonwealth of Massachusetts, as fully and as completely as though each such power were specifically and individually enumerated herein. 1.4 Interpretation of Powers The powers of the Town under the Charter shall be construed and interpreted liberally in favor of the Town, and the specific mention of any particular power is not intended to limit in any way the general powers of the Town as set forth in Section 1.3. 1.5 Intergovernmental Relations 35 The Town, acting by and through its Board of Selectmen Select Board, may enter into agreements with any other unit of government to perform jointly or in cooperation, by contract or otherwise, any of its powers or functions 1.6 Definitions Unless another meaning is clearly apparent from the manner in which the term is used, the following terms used in the Charter shall have the following meanings: Board or Committee – The term “board or committee” shall mean any board, committee, commission, authority, or council of the Town, however created, elected, appointed or otherwise constituted. Charter – The term “Charter” shall mean the Town of Reading Home Rule Charter. Ex officio - The term “ex officio” shall refer to a members of any board or committee who serves by virtue of his their office or position. A person serving as an ex officio member on more than one board or committee shall not be required to take an additional oath of office to serve in such capacity. Library – The term “Library” shall mean the Reading Public Library and any branch or branches thereof that may be established. Local News Medium – The term “local news medium” shall mean a newspaper, the official town website or other means or channel of information communication to which the general public has access within the Town. Majority Vote – As applied to the Town Meeting, Committees thereof and precinct meetings, the term “majority vote” shall mean the affirmative vote of a majority of those present and voting provided that a quorum of the body is present. As applied to all other boards or committees, the term shall mean the affirmative vote of a majority of the number of members specified in the Charter, Town Bylaw or other enabling vote or action creating such board or committee. Precinct – The term “precinct” shall mean the areas into which the Town is divided for the purpose of electing Town Meeting Members. Town - The term "Town" shall mean the Town of Reading. Town Agency - The term "Town Agency" shall mean any board or committee, department or office of the Town, however created, elected, appointed or otherwise constituted. Town Meeting - The term "Town Meeting" shall mean the representative Town Meeting of the Town, established by Article 2. Town Officer - The term "Town Officer" shall mean an elected or appointed official of the Town who, in the performance of his the duties of their office, exercises some portion of the sovereign power of the Town, whether great or small; provided, however, that the term shall not include a Town Meeting Member; and provided further that a person may be a Town Officer whether or not he that person receives any compensation for his their services. 36 Voters - The term "Voters" shall mean the registered voters of the Town. ARTICLE 2 REPRESENTATIVE TOWN MEETING 2.1 Composition The legislative body of the Town shall be a representative Town Meeting consisting of one hundred ninety-two (192) members from eight (8) precincts who shall be elected by the voters in each precinct. Each precinct shall be equally represented in Town Meetings by members elected so that the term of office of one-third of the members shall expire each year. 2.2 Revision of Precincts When required by law or every ten (10) years, the Board of Selectmen Select Board shall review and, if necessary, re-divide the territory of the Town into eight (8) plainly designated precincts. The precincts shall be divided into as nearly an equal number of inhabitants as possible. The territory of each precinct shall be contiguous a nd as compact as possible. The territory of each precinct shall be defined, where reasonably possible, by the centerline of known streets or other well-defined limits. Within ten (10) days of completing its review, the Board of Selectmen Select Board shall file a report with the Town Clerk and the Board of Registrars of Voters, showing any revisions to the precincts that are being made pursuant to this section. If revisions are being made, the report shall include a map showing the boundaries of each precinct and a list of its inhabitants' names and addresses. The Board of Selectmen Select Board shall also post the map and list in the Town Hall and in at least one public place in each precinct. Any such precinct revision shall be effective on the date it is filed with the Town Clerk. The Town Clerk shall forthwith notify the Secretary of State of the revision in writing. 2.3 Town Meeting Membership At the first Town wide election after any precincts are revised, the voters of each precinct shall elect twenty-four (24) Town Meeting Members to represent the precinct. Terms of office shall be determined by the number of votes received. The eight (8) candidates receiving the highest number of votes shall serve for three (3) years, the eight (8) receiving the next highest number of votes shall serve for two (2) years, and the eight (8) candidates receiving the next highest number of votes shall serve for o ne (1) year from the day of election. Upon the certification of such election, the term of office of all previously elected Town Meeting members shall cease. At each Annual Election thereafter, the voters in each precinct shall elect eight (8) Town Meeting Members to represent the precinct for a term of three (3) years, and shall also elect Town Meeting Members to fill any vacant unexpired terms. After each election of Town Meeting Members, the Town Clerk shall notify each Town Meeting Member of his their election in writing. In the event of a tie vote, resulting in a failure to elect the full number of Town Meeting Members in any precinct, the vacancy created thereby shall be filled until the next Annual Town Election by a vote of the remaining Town Meeting Members of the precinct, provided, however, that the balance of any unexpired term shall be filled at the next Annual Town Election. In the event of such a vacancy, the Town Clerk shall give written notice of the tie vote and the vacancy created thereby, to the remaining 37 Town Meeting Members of that precinct and shall publish such notice in the local news medium. Such notice shall provide at least seven (7) day’s advance notification of the time and place for a precinct meeting for the purpose of filling the vacancy. 2.4 Town Meeting Sessions All representative Town Meeting sessions shall be limited to the Town Meeting Members elected pursuant to Section 2.3, together with the duly elected Moderator. The Town Clerk shall notify the Town Meeting Members of the time and place at which representative Town Meeting sessions are to be held, the notices to be sent at least seven (7) days (see Section 8.5) before the meeting. The Town Meeting Members shall be the judges of the election and qualification of their members. A majority of the Town Meeting Members shall constitute a quorum for doing business. However, a smaller number may organize temporarily and may adjourn from time to time, but no Town Meeting shall adjourn over the date of an election of Town Meeting Members. All Town Meeting sessions shall be public. 2.5 Nomination Procedures Nomination of candidates for Town Meeting Member shall be made by nomination papers bearing no political designation and signed by not fewer than ten (10) voters from the candidate's precinct. Nomination papers shall be obtained in person and signed by the candidate in the presence of the Town Clerk or designee. Completed nomination papers shall be filed with the Town Clerk at least thirty-five days (35) days before the election. 2.6 Vacancies A Town Meeting Member may resign by filing a written notice with the Town Clerk. A Town Meeting Member who terminates residency in the Town shall cease to be a Town Meeting Member. A Town Meeting Member who moves his their residence from the precinct from which he they were was elected to another precinct shall serve only until the next Annual Town Election. If any person elected as a Town Meeting Member fails to attend one-half or more of the total Town Meeting sessions within one year preceding the most recent Annual Town Election, his their seat may be declared vacant by a majority vote of the Town Meeting. The Board of Selectmen Select Board shall place an Article on the Annual Town Meeting Warrant to remove any such Town Meeting Member from office. At least seven (7) days prior to the Annual Town Meeting, the Town Clerk shall notify any such Town Meeting Member that he they may be removed from office, provided, however, that such notice shall be deemed adequate if mailed postage prepaid to the Town Meeting Member’s last known address. Any vacancy in a Town Meeting position may be filled until the next Annual Town Election by a vote of the remaining Town Meeting Members of the precinct, provided, however, that the balance of any unexpired term shall be filled at the next Annual Town Election. In the event of a vacancy, the Town Clerk shall give written notice thereof to the remaining Town Meeting Members of the precinct and shall publish such notice in a local news medium. Such notice shall provide at least seven (7) day’s advance notification of the time and place for a precinct meeting for the purpose of temporarily filling the vacancy. 2.7 Precinct Meetings 38 The Town Meeting Members of each precinct shall meet at least annually and shall elect a Chair and a Clerk. A majority of the Town Meeting Members of the precinct serving at the time of the precinct meeting shall constitute a quorum thereof. A majority vote cast at a precinct meeting shall be sufficient to fill vacancies, elect a Chair or Clerk, or conduct other business. The Chair or Clerk shall certify any vote taken at a precinct meeting to the Town Clerk. 2.8 Compensation Town Meeting Members shall serve without compensation. 2.9 Presiding Officer A Moderator, chosen in accordance with the provisions of Section 3.6, shall preside at all sessions of the Town Meeting. The Moderator shall regulate the proceedings of all Town Meeting sessions, decide all questions of order and make public declaration of all votes. He The Moderator may also administer the oath of office to any Town Officer and to Town Meeting Members. In the absence of the Moderator, the Town Meeting shall elect a Moderator pro tempore. 2.10 Clerk of the Town Meeting The Town Clerk shall serve as the Clerk of the Town Meeting. In the event of his their unavoidable absence, the Town Clerk may designate a substitute; otherwise, the Moderator shall appoint a Clerk pro tempore. The Clerk shall give notice of all Town Meetings to Town Meeting Members and to the public and keep the journal of Town Meeting proceedings. 2.11 Participation by Non-Town Meeting Members Subject to conditions that may be determined from time to time by Town Meeting Members, any person who is not a Town Meeting Member may be allowed to speak at any Town Meeting but shall not vote. At the request of the Moderator or Town Meeting, any Town Officer or Department Head or his their designee shall be present at any session of Town Meeting for the purpose of responding to questions of Town Meeting Members. 2.12 Establishment of Standing Committees The Town Meeting may establish boards or committees to which may be referred Warrant Articles for study, review and report in advance of the sessions of the Town Meeting. All meetings of such boards or committees shall be conducted in accordance with the provisions of the Open Meeting Law, Massachusetts General Laws Chapter 30A, Sections 20 through 22, inclusive. In establishing such boards or committees, the Town Meeting shall provide for the appointment of members either by an appointment committee established for that purpose or by an existing board or committee. 2.12.1 Finance Committee There shall be a Finance Committee consisting of nine (9) voters of the Town, appointed for three-year staggered terms so arranged that three (3) terms expire on June 30 each year. No Finance Committee Member shall serve for more than three (3) consecutive terms; provided, however, that an appointment to the Finance Committee to fill an unexpired term that has less than two (2) years remaining shall not be counted toward the three (3) consecutive terms. 39 No Finance Committee Member shall be an elected or appointed Town Officer or an employee of the Town. A Finance Committee Member may be an elected Town Meeting Member but shall serve on no other standing committee. Finance Committee members shall be appointed by majority vote of an Appointment Committee chaired by the Moderator and consisting of the Moderator, the Chairman of the Board of Selectmen Select Board, and the Chairman of the Finance Committee; provided however where the chair of the Finance Committee is in their last year and is seeking reappointment, the Appointment Committee shall be comprised of the Chair of the Select Board, the Moderator and a designee of the Finance Committee who is not in their last year or seeking reappointment. The Appointment Committee shall fill any vacancy on the Finance Committee. The Finance Committee shall have all the powers and duties granted to Finance Committees by the laws of the Commonwealth of Massachusetts, Town Bylaw, any Town Meeting vote and other applicable laws. In addition to these powers, the Finance Committee shall have the power to investigate the books, accounts, records and management of any office, board or committee in Town, and may use agents in carrying out such investigations. The Finance Committee shall submit a written report to the Town Meeting setting forth its findings, approvals or disapprovals on all Articles in the Warrant that involve the expenditure of funds. The Finance Committee shall take reasonable action to submit its report at least seven (7) days (see Section 8.5) before Town Meeting; provided, however, that such report shall not preclude further action or reconsideration by the Finance Committee. 2.12.2 Bylaw Committee There shall be a Bylaw Committee consisting of five (5) voters of the Town, appointed for three (3) year staggered terms expiring on June 30. Bylaw Committee members shall be appointed by majority vote of an Appointment Committee chaired by the Moderator and consisting of the Moderator, the Chair of the Board of Selectmen Select Board, and the Chair of the Bylaw Committee; provided however where the chair of the Bylaw Committee is in their last year and is seeking reappointment, the Appointment Committee shall be comprised of the Chair of the Select Board, the Moderator and a designee of the Bylaw Committee who is not in their last year or seeking reappointment. The Appointment Committee shall fill any vacancy on the Bylaw Committee. The Bylaw Committee may propose and shall consider Town Meeting Warrant articles offering changes in the Charter, General Bylaws, petitions for special acts, or local acceptance of State Statutes that are subject to Town Meeting acceptance; and may consider Zoning Bylaw changes and shall submit a written report to the Town Meeting setting forth its findings on all such Articles in the Warrant. The Bylaw Committee shall take reasonable action to submit its report to the Town Meeting at least seven (7) days (see Section 8.5) before Town Meeting; provided, however, that such report shall not preclude further action or reconsideration by the Bylaw Committee. Within one (1) year of any adopted change to the Charter, the Bylaw Committee shall propose any revisions to the General Bylaws that it deems to be necessary as a result of such change. 40 The Bylaw Committee shall review the General Bylaws at least every ten (10) years and submit a written report to the Town Meeting setting forth any recommended changes. 2.12.3 Rules Committee There shall be a Rules Committee, chaired by the Moderator who shall be a non -voting member, and consisting of the Precinct Chairs. The Rules Committee may, from time to time, review all aspects of the operation of Town Meeting and submit a written report to the Town Meeting setting forth its findings, recommendations and proposals for rules governing the conduct of Town Meeting. 2.13 Warrant Articles Except for procedural matters, all subjects to be acted upon by the Town Meeting shall be placed on a Warrant therefor issued by the Board of Selectmen Select Board. The Board of Selectmen Select Board shall place on such Warrants all subjects submitted by: a Any two (2) or more members of the Board of Selectmen Select Board; b Any board or committee; c Any ten (10) or more voters for the Annual, Subsequent or Special Town Meeting as defined in Section 2.14; or d Any other person or entity as may be authorized by Town Bylaw or otherwise. All subjects timely submitted to the Board of Selectmen Select Board pursuant to this section shall be placed on a Warrant for the next scheduled Annual, Subsequent or Special Town Meeting. All Articles submitted pursuant to Section 2.13(a) shall include the names of all of the Board of Selectmen Select Board members sponsoring such article. Sponsorship of Articles submitted pursuant to Section 2.13(b) shall be designated as: “The Board of Selectmen Select Board as a courtesy to requested by (insert name of Board or Committee requesting the Article).” Promptly upon receipt by the Board of Selectmen Select Board of any subject for a Town Meeting Warrant Article, a copy of the Article shall be made available for inspection in the Office of the Town Clerk. 2.14 Meetings The Town Meeting shall meet at least twice in each calendar year. The Annual Town Meeting shall be held during the first six (6) calendar months of the year at a time fixed by Town Bylaw, and shall be primarily concerned with the determination of matters t hat have a fiscal impact on the Town, including the adoption of an annual operating budget for all Town Agencies other than the Reading Municipal Light Department. A Subsequent Town Meeting shall be held during the last three (3) calendar months of the yea r at a time fixed by Town Bylaw. In addition to the two (2) meetings required by this section, the Board of Selectmen Select Board may call a Special Town Meeting into session at other times by the issuance of a Warrant therefore as it deems necessary or appropriate for the purpose of acting upon the legislative business of the Town in an orderly and expeditious manner. The Board of Selectmen Select Board shall call a Special Town Meeting upon the receipt of a petition with two hundred (200) or more signatu res of voters, as certified by the Board of Registrars of Voters. 2.15 Referendum Procedures 41 No final affirmative vote of a Town Meeting on any Warrant Article shall be effective until after the expiration of seven (7) days (see Section 8.5) following the dissolution of the Town Meeting except: a Votes appropriating money for the payment of notes or bonds of the Town and interest becoming due within the then current fiscal year; b Votes for the temporary borrowing of money in anticipation of revenue; or c A vote declared by a preamble, and adopted by a two-thirds (2/3) vote of the Town Meeting to be an emergency measure necessary for the immediate preservation of the peace, health, safety or convenience of the Town. If a referendum petition is not filed pursuant to Section 2.15.1 within the said seven (7) days (see Section 8.5), the remaining votes of the Town Meeting shall then become effective. 2.15.1 Referendum Petition If, within said seven (7) days (see Section 8.5), a referendum petition signed by not fewer than three percent (3%) of the voters, as certified by the Board of Registrars of Voters, containing their names and addresses, is filed with the Board of Selectmen Board of Registrars of Voters requesting that any of the remaining affirmative votes of the Town Meeting be submitted to the voters in the form of a ballot question, then the effectiveness of such Town Meeting vote shall be further suspended pending its determination as provided herein. Within three (3) days of receipt, the Board of Registrars shall certify whether the petition is signed by not fewer than three percent (3%) of the registered voters. Upon certification, the Board of Registrars shall immediately notify the Select Board. The Board of Selectmen Select Board shall, within ten (10) days after receipt of the Board of Registrars’ certification that the petition contains the requisite number of signatures the filing of such referendum petition, call a Special Election, to be held within thirty five (305) days or such longer period as may be required by law after issuing the call, for the purpose of presenting such ballot question to the voters; provided, however, that, if a regular or Special Election is to be held not more than sixty (60) days following the date the referendum petition is filed, the Board of Selectmen Select Board may provide that such ballot question be presented to the voters at that Election. If the referendum petition lacks the requisite number of signatures, the Town Meeting vote shall become effective. 2.15.2 Form of Referendum Petition /Ballot Question Each ballot question submitted shall appear at the top of each referendum petition and shall be presented in the following form which shall be placed on the official ballot: "Shall the Town vote to approve the action of the representative Town Meeting whereby it was voted on (insert date of Town Meeting) to (insert complete language of the vote in the same form in which it was stated when presented by the Moderator to the Town Meeting, and as it appears in the records of the Clerk of the meeting)"? The circulator(s) of the referendum petition may make multiple copies of the petition form, but such copies must be exact duplicates thereof, and the petition form may not be altered in any way. No extraneous markings, such as underlines, highlighting, erasures, marking out or insertion of words or other information, shall be allowed on any area of the petition form or any copy thereof. Any petition form or copy thereof containing such extraneous markings or alterations or that are not exact duplicates shall be invalid, and no signatures contained thereon shall be counted toward the 42 required number. For the purpose of this prohibition, the term “extraneous markings” shall not include signatures, names or addresses. Each petition form shall include language informing voters that additional markings will disqualify the signatures on the petition form; that, for their signature to be counted, they must be a registered voter of the Town of Reading; that their signature shall be written in the same form as they are registered; that they should not sign the petition and any copy thereof more than once; and that, if they are prevented by physical disability from writing, they may authorize some person to write their name and address in their presence. The back of each petition form, where signature lines appear, shall include the following instruction: “ATTENTION VOTERS: Before signing, read signer information on the other side.” Upon request, the Town Clerk shall provide Town referendum petition /ballot question forms with the final article language voted at Town Meeting. In addition to the certification of signatures on the petition form, the Board of Registrars of Voters shall examine the petition forms for extraneous markings, and determine whether they are exact copies. 2.15.3 Election Any ballot question submitted in accordance with the procedure set forth herein shall be determined by majority vote thereon, but no action of the Town Meeting shall be reversed unless at least twenty percent (20%) of the voters cast ballots on the ballot question. ARTICLE 3 ELECTED OFFICERS AND BOARDS OR COMMITTEES 3.1 General Provisions The offices to be filled by the voters shall be the Board of Selectmen Select Board, School Committee, Board of Library Trustees, Municipal Light Board of Commissioners, Moderator and such members of regional authorities or districts as may be established by statute, intergovernmental agreement executed pursuant to Section 1.5 or otherwi se. Only a registered voter of the Town shall be eligible to hold any elective town office; provided, however, that no person holding any elective Town office shall simultaneously hold any other elective Town office except that of Town Meeting Member. Elected Town Officers shall serve without compensation unless otherwise specifically voted by Town Meeting. Elected Town Officers shall be subject to the call of the Board of Selectmen Select Board at all reasonable times for consultation, conference and discussion on any matter relating to their respective offices. 3.2 Board of Selectmen Select Board There shall be a Board of Selectmen Select Board consisting of five (5) members elected for three (3) year terms so arranged that as nearly an equal number of terms as possible shall expire each year. The executive powers of the Town shall be vested in the Board of Selectmen Select Board. The Board of Selectmen Select Board shall have all of the powers and duties granted to Boards of Selectmen by the Constitution and General Laws of the 43 Commonwealth of Massachusetts, and such additional powers and duties as may be provided by the Charter, by Town Bylaw, or by Town Meeting vote. The Board of Selectmen Select Board shall cause the laws and orders for the government of the Town to be enforced and shall cause a record of all its official acts to be kept. The Board of Selectmen Select Board shall appoint a Town Manager, a Town Counsel, a Town Accountant, not more than five (5) Constables, and any other appointed board or committee member for whom no other method of selection is provided by the Charter or by Town Bylaw. The Board of Selectmen Select Board or its designee shall be the Licensing Board of the Town and shall have the power to issue licenses, to make all necessary rules and regulations regarding the issuance of such licenses, to attach such conditions and restrictions thereto as it deems to be in the public interest, and to enforce the laws relating to all businesses for which it issues licenses. 3.3 School Committee There shall be a School Committee consisting of six (6) members elected for three (3) year terms so arranged that two (2) terms shall expire each year. The School Committee shall have all of the powers and duties granted to School Committees by the Constitution and General Laws of the Commonwealth of Massachusetts and such additional powers and duties as provided by the Charter, by Town Bylaw or by Town Meeting vote. The School Committee shall make all reasonable rules and regulations, consistent with law, for the administration and management of the public schools of the Town. The School Committee shall appoint a Superintendent of Schools and shall define their dutie s and terms of employment. 3.4 Board of Library Trustees There shall be a Board of Library Trustees consisting of six (6) members elected for three (3) year terms so arranged that two (2) terms shall expire each year. The Board of Library Trustees shall have all of the powers and duties granted to Boards of Library Trustees by the Massachusetts General Laws, and such additional powers and duties as may be authorized by the Charter, by Town Bylaw or by Town Meeting vote. The Board of Library Trustees shall have control over the selection of Library materials, and shall have custody and management of the Library and of all property of the Town related thereto; provided, however, that the Town Manager or his their designee shall have responsibility for the maintenance of the Library building and grounds. The Board of Library Trustees shall appoint a Library Director and shall define his their duties and terms of employment, subject to the personnel policies and classification and compensation plans established by the Board of Selectmen Select Board. The Board of Library Trustees shall administer all money or property that the Town may receive on behalf of the Library by gift or bequest in accordance with the provisions of such gift or bequest. 3.5 Municipal Light Board of Commissioners 44 There shall be a Municipal Light Board of Commissioners consisting of five (5) members elected for three (3) year terms so arranged that as near an equal number of terms as possible shall expire each year. The Municipal Light Board of Commissioners shall have all the powers and duties granted to cities and towns in respect to municipal lighting plants by Massachusetts General Laws Chapter 164, Section 34 et seq. and other general and special acts pertaining thereto, together with such further powers and duties assigned to them by the Charter, by Town Bylaw, or by Town Meeting vote. The Municipal Light Board of Commissioners shall hire the General Manager of the Municipal Light Department and set his their duties and terms of employment. The Municipal Light Board of Commissioners shall appoint the Accounting Manager or Chief Accountant of the Municipal Light Department and appoint Counsel to the Municipal Light Department. The Accounting Manager or Chief Accountant, as the case may be, and Counsel shall be subject to the supervision of the General Manager. The Municipal Light Board of Commissioners shall approve warrants for payments of all bills and payroll of the Municipal Light Department and shall approve all contracts which are at or above the competitive sealed bid procedures level as stated in Massach usetts General Laws Chapter 30B, Section 5 and, further, all contracts shall be made in accordance with Massachusetts General Laws Chapter 30B. Contracts for purchasing of power shall not be subject to Massachusetts General Laws Chapter 30B but shall be approved by the Municipal Light Board of Commissioners. The Municipal Light Board of Commissioners shall employ the Auditor appointed by the Town of Reading Audit Committee. The Municipal Light Board of Commissioners shall annually set electric rates and approve an annual operating budget and Capital Improvements Program each fiscal year. Such approval will be done by a majority vote of the Municipal Light Board of Commissione rs. After the Municipal Light Board of Commissioners has approved an annual operating budget and Capital Improvements Program, it will present them to the Town of Reading Finance Committee and Town of Reading Town Meeting. Upon request of any of the other towns served by the Municipal Light Department, the Municipal Light Board of Commissioners shall make a presentation to the Finance Committee and/or Town Meeting of any such town(s). 3.6 Moderator There shall be a Moderator elected for a one (1) year term. The Moderator shall have all of the powers and duties granted to Moderators by the Constitution and General Laws of the Commonwealth of Massachusetts, and such additional powers and duties as provided by the Charter, by Town Bylaw or by Town Meeting vote. The Moderator shall not simultaneously serve as an elected Town Meeting Member or in any other elected Town office. ARTICLE 4 APPOINTED BOARDS OR COMMITTEES 45 4.1 Board of Assessors There shall be a Board of Assessors consisting of three (3) members appointed by the Board of Selectmen Select Board for three (3) year terms so arranged that one (1) term shall expire each year. The Board of Assessors shall have all the powers and duties granted to Boards of Assessors by the Massachusetts General Laws, and such additional powers and duties as may be provided by the Charter, by Town Bylaw or by Town Meeting vote. The elected members of the Board of Assessors serving at the time that this section first becomes effective may continue to serve in office until their elected terms expire, unless reappointed for an additional term or terms pursuant to this section. 4.2 Board of Cemetery Trustees There shall be a Board of Cemetery Trustees consisting of six (6) members appointed by the Board of Selectmen Select Board for three (3) year terms so arranged that two (2) terms shall expire each year. The Board of Cemetery Trustees shall have all the powers and duties granted to Boards of Cemetery Trustees by the Massachusetts General Laws, and such additional powers and duties as may be provided by the Charter, by Town Bylaw or by Town Meeting vote. 4.3 Board of Commissioners of Trust Funds There shall be a Board of Commissioners of Trust Funds consisting of five (5) members. Three (3) shall be appointed by the Board of Selectmen Select Board for three (3) year terms so arranged that one (1) term shall expire each year. In addition, the Board of Selectmen Select Board shall appoint one of its members to serve as a full voting member ex officio, and the Town Treasurer shall serve as a full voting member ex officio. The Board of Commissioners of Trust Funds shall have such powers and duties as are granted to them by the Board of Selectmen Select Board. 4.4 Board of Health There shall be a Board of Health consisting of five (5) members appointed by the Board of Selectmen Select Board for three (3) year terms so arranged that one (1) term shall expire each year. The Board of Health shall have all of the powers and duties granted to Boards of Health by the Massachusetts General Laws, and such additional powers and duties as may be provided by the Charter, by Town Bylaw or by Town Meeting vote. 4.5 Community Planning and Development Commission There shall be a Community Planning and Development Commission consisting of five (5) members appointed by the Board of Selectmen Select Board for three (3) year terms so arranged that as nearly an equal number of terms as possible shall expire each year. The Community Planning and Development Commission shall have all of the powers and duties granted to Planning Boards, Boards of Survey and Industrial Development Commissions by the Massachusetts General Laws, and such additional powers and duties as may be provided by the Charter, by Town Bylaw or by Town Meeting vote. The Community Planning and Development Commission shall have the power to regulate the subdivision of land within the Town by the adoption of Rules and Regulations pertaining thereto. 46 The Community Planning and Development Commission shall make studies and prepare plans concerning the resources, developmental potential and needs of the Town; and shall report annually to the Town giving information regarding the physical condition of the Town, and any plans or proposals known to it affecting the resources, physical development and needs of the Town. 4.6 Conservation Commission There shall be a Conservation Commission consisting of seven (7) members appointed by the Board of Selectmen Select Board for three (3) year terms so arranged that as near an equal number of terms as possible shall expire each year. The Conservation Commission shall have all the powers and duties granted to Conservation Commissions by the Massachusetts General Laws, and such additional powers and duties as may be provided by the Charter, by Town Bylaw or by Town Meeting vote. 4.7 Council on Aging There shall be a Council on Aging consisting of ten (10) members appointed by the Board of Selectmen Select Board for three (3) year terms so arranged that as near an equal number of terms as possible shall expire each year. The Council on Aging shall have all the powers and duties given to Councils on Aging by the Massachusetts General Laws, and such additional powers and duties as may be provided by the Charter, by Town Bylaw or by Town Meeting vote. 4.8 Historical Commission There shall be a Historical Commission consisting of five (5) members appointed by the Board of Selectmen Select Board, which shall determine the number of members and their term of appointment, not to exceed three (3) years for three (3) year terms so arranged that as near an equal number of terms as possible shal l expire each year. The Historical Commission shall have all the powers and duties granted to Historical Commissions by the Massachusetts General Laws, and such additional powers and duties as may be provided by the Charter, by Town Bylaw or by Town Meeting vote. 4.9 Housing Authority There shall be a Housing Authority consisting of five (5) members. Four (4) members shall be appointed by the Board of Selectmen Select Board, and the fifth (5th) member shall be a resident of the Town, appointed by the Commonwealth of Massachusetts or as otherwise provided by law and be a resident of the Town. Housing Authority Members shall serve for five (5) year terms so arranged that one (1) term shall expire each year. The Housing Authority shall have all of the powers and duties granted to housing authorities by the Massachusetts General Laws, and such additional powers and duties as may be provided by the Charter, by Town Bylaw or by Town Meeting vote. 4.10 Recreation Committee There shall be a Recreation Committee consisting of nine (9) members, eight (8) appointed by the Board of Selectmen Select Board, and one (1) appointed by the School Committee for three (3) year terms so arranged that three (3) terms shall expire each year. 47 The Recreation Committee shall have such powers and duties as are granted to them by the Board of Selectmen Select Board, and such additional powers and duties as may be provided by the Charter, by Town Bylaw or by Town Meeting vote. The Recreation Committee shall be responsible for the evaluation of recreational program activities, formulation of overall plans for recreational program development, and for the scheduling of Town parks and recreational facilities when not in use by the School Department. 4.11 Town Forest Committee There shall be a Town Forest Committee consisting of five (5) members, appointed by the Board of Selectmen Select Board, which shall determine the number of members and their term of appointment, not to exceed three (3) years. for three (3) year terms so arranged that as near an equal number of terms as possible shall expire each year. The Town Forest Committee shall have all the powers and duties given to Town Forest Committees by the Massachusetts General Laws, and such additional powers and duties as may be provided by the Charter, by Town Bylaw, by the Board of Selectmen Select Board or by Town Meeting vote. 4.12 Zoning Board of Appeals There shall be a Zoning Board of Appeals consisting of five (5) members and two (2) associate members appointed by the Board of Selectmen Select Board for three (3) year terms so arranged that as near an equal number of terms as possible shall expire each year. The Zoning Board of Appeals shall have all the powers and duties of Zoning Boards of Appeal under the Massachusetts General Laws, and such additional powers and duties as may be provided by the Charter, by Town Bylaw or by Town Meeting vote. 4.13 Charter Review Committee At least every ten (10) years, a special Committee consisting of nine (9) members shall be established for the purpose of reviewing the Charter and making a report, with recommendations, to the Town Meeting concerning any proposed amendments that said Committee may determine to be necessary or desirable. The Committee shall consist of the Moderator, one (1) member or designee of the Board of Selectmen Select Board, one (1) member or designee of the School Committee, one (1) member or designee of the Board of Library Trustees, one (1) member or designee, of the Municipal Light Board of Commissioners, one (1) member of the Bylaw Committee and three (3) Town Meeting members to be appointed by the Moderator. 4.14 Other Boards or Committees Any of the elected boards or committees authorized by Article 3 may establish and appoint or dissolve boards or committees from time to time for a specific purpose. Members of such boards or committees shall reside in the Town of Reading at the time of the ir appointment and during their term of office. The appointing authority of any such board or committee shall, in advance of the first meeting of said board or committee and annually thereafter, report the purpose, membership and contact information of said board or committee to the Town Clerk. 48 4.15 Associate Membership All appointed boards or committees authorized by Article 4 may have associate members if specified in the Charter, Town Bylaw or Massachusetts General Laws. Associate members shall be appointed in the same manner as other members of the board or committee. All rules and regulations relating to associate membership on appointed boards or committees shall be set forth in the Bylaw or Charter provision defining the conduct of such bodies. Associate members may not vote on any issue to be decided by the board or committee to which the individual is appointed as an associate member except as allowed by the Charter, Town Bylaw or the Massachusetts General Laws. Associates members of boards or committees serving as of the effective date of this Section 4.15 shall be allowed to serve until the end of their term or until June 30, 2015, whichever comes first. ARTICLE 5 TOWN MANAGER 5.1 Appointment, Qualifications and Term The Board of Selectmen Select Board shall appoint a Town Manager, who shall be appointed solely on the basis of his their executive and administrative qualifications. He The Town Manager shall be a professionally qualified person of proven ability, especially fitted by education, training and previous experience. He The candidate shall had have at least five (5) years of full-time paid experience as a City or Town Manager or Assistant City or Town Manager or the equivalent level public or private sector experience. The terms of the Town Manager's employment shall be the subject of a written contract, for a term not to exceed three (3) years, setting forth his their tenure, compensation, vacation, sick leave, benefits, and such other matters as are customarily included in an employment contract. The Town Manager’s employment contract shall be in accordance with and subject to the provisions of the Charter and shall p revail over any conflicting provision of any personnel bylaw, rule, or regulation. The Town Manager’s compensation shall not exceed the amount annually appropriated for that purpose. The Town Manager shall devote full time to his the office and, except as expressly authorized by the Board of Selectmen Select Board, shall not engage in any other business or occupation. Except as expressly provided in the Charter, he the Town Manager shall not hold any other public elective or appointive office in the Town; provided, however, that, with the approval of the Board of Selectmen Select Board, the Town Manager may serve as the Town’s representative to regional boards, commissions or similar entities, but shall not receive any additional salary from the Town for such services. Upon the termination of the Town Manager's appointment, whether voluntary or otherwise, he the Town Manager may receive termination pay as determined by the Board of Selectmen Select Board, not to exceed twelve (12) months’ salary in total. To be eligible for this benefit upon voluntary termination, the Town Manager shall provide the Board of Selectmen Select Board a minimum of sixty (60) days written notice of his their intent to leave. This benefit shall not be available if the Town Manager is terminated for cause. 5.2 Powers and Duties The Town Manager shall be the Chief Administrative Officer of the Town and shall be responsible to the Board of Selectmen Select Board for the proper administration of all 49 Town affairs placed in his their charge by or under the Charter. The Town Manager’s powers and duties shall include: a To supervise and be responsible for the efficient administration of all functions under his the Town Manager’s control, as may be authorized by the Charter, by Town Bylaw, by Town Meeting vote or by the Board of Selectmen Select Board, including all officers appointed by him the Town Manager and their respective departments. b To appoint and remove, subject to the civil service laws where applicable, the Police Chief, Fire Chief, Appraiser and all employees for whom no other method of appointment is provided in the Charter, except persons serving under the School Committee, Municipal Light Board of Commissioners or Board of Library Trustees, and appointments made by the representatives of the Commonwealth of Massachusetts. The Town Manager's appointment of the Police Chief and Fire Chief shall be subject to confirmation by the Board of Selectmen Select Board. The Town Manager's appointment of the Appraiser shall be subject to confirmation by the Board of Assessors. c To administer all personnel policies, practices and related matters for all municipal employees as established by any compensation plan, personnel policy guide or Town Bylaw, and all collective bargaining agreements entered into by the Board of Selectmen Select Board on behalf of the Town. d To fix the compensation of all Town officers and employees appointed by him the Town Manager within the limits established by applicable appropriations and any compensation plan adopted by Town Meeting. e To attend all regular and special meetings of the Board of Selectmen Select Board, unless excused at his the Town Manager's own request, and to have a voice, but no vote, in all discussions. f To attend all sessions of Town Meeting and to answer all questions directed related to him the office that are related to his office. g To see that all of the provisions of the Massachusetts General Laws, of the Charter, of the Town Bylaws, of Town Meeting votes, and of votes of the Board of Selectmen Select Board that require enforcement by him the Town Manager or Town Officers and employees subject to his the Town Manager’s direction and supervision are faithfully carried out. h To prepare and submit a proposed Annual Operating Budget and a Capital Improvements Program in accordance with Article 7. i To ensure that a full and complete record of the financial and administrative activities of the Town is kept, and to render a full report to the Board of Selectmen Select Board at the end of each fiscal year and at such other times as may be required by the Board of Selectmen Select Board. j To keep the Board of Selectmen Select Board fully informed as to the financial condition and needs of the Town and to make such recommendations to the Board of Selectmen Select Board as he the Town Manager may deem necessary or appropriate. k To have full responsibility for the rental and use of all Town facilities, except those under the care, custody, management and control of the School Committee, the Board of Library Trustees, the Municipal Light Board of Commissioners, or other boards or committees specified by Town Bylaw or Town Meeting vote. He The Town Manager or his their designee shall be responsible for the maintenance and repair of all Town property under his the Town Manager’s control. l To inquire into the conduct of any Town Officer, employee or department under his the Town Manager’s control. m To keep a full and complete inventory of all real and personal property of substantial value belonging to the Town. 50 n To serve as Chief Procurement Officer pursuant to the provisions of Massachusetts General Laws Chapter 30B and to be responsible for purchasing all supplies, materials, equipment, goods and services, except those of the School Committee and the Municipal Light Board of Commissioners; to negotiate and approve the award of all contracts for all departments and activities of the Town except those of the School Committee and Municipal Light Board of Commissioners; to examine the services performed for any Town Agency pursuant to any such contract; and to examine and inspect, or cause to be examined and inspected, the quality, quantity and conditions of materials, supplies, equipment or goods delivered to or received by any Town Agency. o To approve any warrants for the payment of Town funds prepared by the Accountant in accordance with the provisions of the Massachusetts General Laws; provided, however, that the approval of any such warrant by the Town Manager shall be sufficient to authorize payment by the Town Treasurer, and provided further that the Board of Selectmen Select Board shall approve such warrants in the event of a vacancy in the office of Town Manager. p To serve as the Executive Officer of the Town for the purposes of Massachusetts General Laws Chapter 258. q To perform any other duties required of him the Town Manager by the Charter, by Town Bylaw, by Town Meeting vote or by the Board of Selectmen Select Board. 5.3 Ombudsman Constituent Services Officer The Town Manager shall appoint a Town employee other than himself or herself the Town Manager to act as an Ombudsman representative to all citizens in their day-to-day contacts and dealings with the Town, its officials and boards or committees. The function of the Ombudsman Officer shall be: a To direct the citizens to the proper Town Officer, board or committee to deal with the issue or concern of the citizen; b To set up appointments for citizens to meet with directors, department heads and boards or committees as appropriate; c To provide citizens with access to public information within the Town; and d To otherwise serve the public in connection with their dealings with the Town. The office of the Town Ombudsman Constituent Services Office shall be clearly and conspicuously marked within the Town Hall. 5.4 Acting Town Manager 5.4.1 Temporary Absence By letter filed with the Town Clerk and the Board of Selectmen Select Board, the Town Manager shall designate a qualified individual to serve as Acting Town Manager during any anticipated temporary absence, not to exceed thirty (30) days. 5.4.2 Long-Term Absence In the event of the absence, incapacity, or illness of the Town Manager in excess of thirty (30) days, the Board of Selectmen Select Board shall appoint a qualified individual to serve as Acting Town Manager until the Town Manager returns. 5.4.3 Vacancy When the office of Town Manager is vacant or the Town Manager is under suspension as provided in Section 5.5, the Board of Selectmen Select Board shall appoint a qualified individual to serve as Acting Town Manager under terms of employment to be determined by the Board of Selectmen Select Board. In the event of vacancy, the 51 Board of Selectmen Select Board shall initiate recruitment for a new Town Manager without delay and shall appoint a new Town Manager within one hundred eighty (180) days. 5.4.4 Powers Except as authorized by a four-fifths (4/5) vote of the Board of Selectmen Select Board, the powers of an Acting Town Manager shall be limited to routine matters requiring immediate action and to making emergency temporary appointments to any Town office or employment within the scope of the Town Manager's responsibilities. 5.5 Removal Procedures The Board of Selectmen Select Board may remove the Town Manager from office as follows: 5.5.1 Notice By affirmative vote of a majority of its members, the Board of Selectmen Select Board may adopt a preliminary resolution of removal setting forth in reasonable detail the reason or reasons for the proposed removal. The preliminary resolution may suspend the Town Manager for a period not to exceed forty -five (45) days. A copy of the resolution shall be delivered to the Town Manager forthwith following its adoption. 5.5.2 Public Hearing Within five (5) days (see Section 8.5) after the delivery of the preliminary resolution of removal, the Town Manager may request a public hearing on the reasons cited for removal by filing a written request therefor with the Board of Selectmen Select Board. The hearing shall be convened by the Board of Selectmen Select Board not less than twenty (20) nor more than thirty (30) days after such request is submitted. Not less than five (5) days (see Section 8.5) prior to such hearing, written notice thereof shall be given to the Town Manager at his last known address. The time li mitations set forth herein may be waived in writing by the Town Manager. Not less than forty -eight (48) hours prior to the time set for the commencement of the public hearing, the Town Manager may file a written statement with the Board of Selectmen Select Board responding to the reasons cited for the proposed removal. The Town Manager may be represented by counsel at the public hearing, and shall be entitled to present evidence, call witnesses and, personally or through counsel, question any witnesses appearing at the hearing. 5.5.3 Removal The Board of Selectmen Select Board may, by a vote of a majority of its members, adopt a final resolution of removal, which shall be effective upon its adoption; provided, however, that such resolution shall not be adopted until: a Ten (10) days after the date of delivery to the Town Manager of the preliminary resolution of removal; or b If the Town Manager has made a timely request for a public hearing, five (5) days (see Section 8.5) after completion of the public hearing or forty-five (45) days after the adoption of the preliminary resolution, whichever occurs later. Failure to adopt a final resolution of removal within the time limitations provided in this section shall be deemed to nullify the preliminary resolution of removal. The action of the Board of Selectmen Select Board in suspending or removing the Town Manager shall be final, it being the intention of this provision to vest all authority and fix all responsibility for such suspension or removal in the Board of Selectmen Select Board. 52 The Town Manager shall continue to receive his their salary until a final resolution of removal has become effective. ARTICLE 6 ADMINISTRATIVE ORGANIZATION 6.1 Organization of Town Agencies The organization of the Town into operating Town Agencies shall be accomplished through the establishment of a Table of Organization that presents the organization of all Town Agencies. Such table shall be prepared by the Town Manager in consultation with the Board of Selectmen Select Board and may be revised from time to time. For the convenience of the public, the Table of Organization shall be printed as an appendix to, but not as part of, the Bylaws of the Town. The Table of Organization shall also be published annually in the Town Report. 6.2 Town Counsel Appointment and Qualifications – The Board of Selectmen Select Board shall appoint a an individual or law firm as Town Counsel and fix his compensation within the amount annually appropriated for that purpose. The person appointed and employed by the Board of Selectmen Select Board as Town Counsel or the member of law firm representing the town in this capacity shall be a member in good standing of the bar of the Supreme Judicial Court of Massachusetts and free of disciplinary actions of all other courts before which he they have has been admitted to practice. Any Special Counsel employed by the Board of Selectmen Select Board shall be a member in good standing of the bar of all courts before which he they have has been admitted to practice. Powers and Duties – The Town Counsel shall provide legal advice, representation and litigation services to the Town, Town Agencies and Town Officers, as the Board of Selectmen Select Board or Town Manager may request or authorize. Vacancy – If the Town Counsel is unable to perform his their duties because of disability or absence or if the office is vacant because of resignation, dismissal or death, the Board of Selectmen Select Board may appoint a temporary Town Counsel to hold such office and exercise the powers and perform the duties until the Town Counsel can resume his their duties, or until another Town Counsel is duly appointed. 6.3 Town Accountant Appointment, Qualification and Term of Office – There shall be a Town Accountant, appointed by the Board of Selectmen Select Board. The Town Accountant shall be qualified in accordance with State law, and shall have appropriate prior full -time accounting experience as determined by the Board of Selectmen Select Board. The Town Accountant shall be appointed in March of every year for a one (1) year term to run from the first day of the following July and shall serve until the qualification of his a successor. Powers and Duties – The Town Accountant shall be subject to the supervision of the Town Manager. In addition to the powers and duties conferred and imposed upon Town Accountants by the Massachusetts General Laws, his their powers and duties shall include: a To prescribe the methods of installation and exercise supervision of all accounting records of Town Agencies and Town Officers; provided, however, that any change in 53 the system of accounts shall be made only after consultation with the Town Manager and the Town Agencies affected. b To establish standard practices relating to all accounting matters and procedures and the coordination of systems throughout the Town, including clerical and office methods, records, reports and procedures as they relate to accounting matters; and to prepare and issue rules, regulations and instructions relating thereto that, when approved by the Town Manager, shall be binding upon all Town Agencies and employees. c To draw all warrants upon the Town Treasurer for the payment of bills, drafts and orders chargeable to the appropriations of the Town Meeting and other accounts. d Prior to submitting any warrant to the Town Manager, to examine and approve as not being fraudulent, unlawful or excessive, all bills, drafts and orders covered thereby. In connection with any such examinations, he may make inspection as to the quality, quantity and condition of any materials, supplies or equipment delivered to or received by any Town Agency or Town Officer. If, upon examination, it appears to the Town Accountant that any such bill, draft or order is fraudulent, unlawful, or excessive, he the Town Accountant shall immediately file a written report with the Town Manager, and Town Treasurer and Chairman of the Finance Committee a written report of his findings. e To be responsible for a continuous audit of all accounts and records of the Town wherever located. Vacancy – If the Town Accountant is unable to perform his their duties because of disability or absence or if the office is vacant because of resignation, dismissal or death, the Board of Selectmen Select Board may appoint a temporary Town Accountant to hold such office and exercise the powers and perform the duties until the Town Accountant can resume his their duties, or until another Town Accountant is duly appointed, in the same manner as an original appointment, for the remainder of the unexpired term. 6.4 Town Treasurer Appointment and Qualifications – There shall be a Town Treasurer, appointed by the Town Manager. The Town Treasurer shall be qualified in accordance with the Massachusetts General Laws. The Board of Selectmen Select Board, upon the recommendation of the Town Manager, may combine the powers and duties of the Town Treasurer with those of the Town Collector, and the Town Manager may then appoint a Town Treasurer-Collector. Powers and Duties – In addition to the powers and duties conferred and imposed upon Town Treasurers by the Massachusetts General Laws, the powers and duties of the Town Treasurer shall include: a To supervise and be responsible for the prompt deposit, safekeeping and management of all monies collected or received by the Town. b To be the custodian of all funds, moneys, securities or other things of value that are or have been given, bequeathed or deposited in trust with the Town for any purpose, including the preservation, care, improvement or embellishment of any of the Town’s cemeteries or burial lots therein; to invest all sums held in trust as he they determine to be appropriate after consultation with the Board of Commissioners of Trust Funds; and to distribute the income therefrom on the order of said Board. Vacancy – If the Town Treasurer is unable to perform his their duties because of disability or absence or if the office is vacant because of resignation, dismissal or death, the Town Manager may appoint a temporary Town Treasurer to hold such office and exercise the 54 powers and perform the duties until the Town Treasurer can resume his their duties, or until another Town Treasurer is duly appointed. 6.5 Town Collector Appointment and Qualifications – There shall be a Town Collector, appointed by the Town Manager. The Town Collector shall be qualified in accordance with the Massachusetts General Laws. The Board of Selectmen Select Board, upon the recommendation of the Town Manager, may combine the powers and duties of the Town Collector with those of the Town Treasurer, and the Town Manager may then appoint a Town Treasurer-Collector. Powers and Duties – In addition to the powers and duties conferred and imposed upon Town Collectors by the Massachusetts General Laws, the powers and duties of the Town Collector shall include: a To be responsible for the collection and receipt of all sums and accounts due, owing or paid to the Town including taxes and fees, and shall act as the Town Collector of Taxes. b To report to the Town Manager at such times as the Town Manager he may direct or as he may deem appropriate, but at least semi-annually, as to all uncollected claims or accounts due or owing to the Town. Such reports shall include the Town Collector’s recommendations as to whether suit should be instituted on behalf of the Town for the establishment or collection of any claim or account for the benefit of the Town. Vacancy – If the Town Collector is unable to perform his their duties because of disability or absence or if the office is vacant because of resignation, dismissal or death, the Town Manager may appoint a temporary Town Collector to hold such office and exercise the powers and perform the duties until the Town Collec tor can resume his their duties, or until another Town Collector is duly appointed. 6.6 Town Clerk Appointment and Qualifications – There shall be a Town Clerk, appointed by the Town Manager. The Town Clerk shall be qualified in accordance with the Massachusetts General Laws. Powers and Duties – The Town Clerk shall have all the powers and duties conferred and imposed upon Town Clerks by the Massachusetts General Laws or by Town Bylaw. Vacancy – If the Town Clerk is unable to perform his their duties because of disability or absence or if the office is vacant because of resignation, dismissal or death, the Town Manager may appoint a temporary Town Clerk to hold such office and exercise the powers and perform the duties until the Town Clerk can resume his their duties, or until another Town Clerk is duly appointed. ARTICLE 7 BUDGET AND CAPITAL IMPROVEMENTS PROGRAM 7.1 Fiscal Year The fiscal year of the Town shall begin on July first (1st) and end on June thirtieth (30th), unless another provision is made by the Massachusetts General Laws. 7.2 Submission of Proposed Budget At least four (4) months before the start of the fiscal year and following consultation with the Board of Selectmen Select Board on the Municipal Government portions of the budget, the Town Manager shall submit to the Finance Committee a proposed budget for 55 the ensuing fiscal year with an accompanying budget message and supporting documents. He The Town Manager shall simultaneously provide for the publication in a local news medium of a general summary of the proposed budget, and a notice stating the times and places where complete copies of his the proposed budget shall be available for examination by the public. 7.3 School Committee Budget The budget requested by the School Committee shall be submitted to the Town Manager at least five (5) months before the start of the fiscal year to enable him the Town Manager to prepare the total Town budget pursuant to Section 7.2. 7.3.1 Public Hearing At least fourteen (14) days before the meeting at which the School Committee is to vote on its budget request, the School Committee shall cause to be published in a local news medium a general summary of such budget request. The summary shall indicate specifically any major variations from the current year’s budget and the reasons for such variations and a notice stating the times and places where complete copies of the budget shall be available for examination by the public, as well as the date, time and place, not less than seven (7) days (see Section 8.5) following such publication, when a public hearing shall be held by the School Committee on the budget request. 7.4 Budget Message The Budget Message submitted by the Town Manager shall explain the proposed budget for all Town agencies, both in fiscal terms and in terms of work programs. The Budget Message shall include a current Table of Organization and may include a proposed Table of Organization. 7.5 The Proposed Budget The proposed budget shall provide a complete financial plan for all Town funds and activities; shall be balanced to the funds available; and shall present the budget as requested by the School Committee for the ensuing year. Except as may otherwise be required by the Massachusetts General Laws or by the Charter, the proposed budget shall be in the form that the Town Manager deems desirable. In his the presentation of the budget, the Town Manager shall make use of modern concepts of fiscal presentation so as to furnish a high level of information and maximum financial control. The proposed budget shall show the actual and estimated income and expenditures for the previous, current and ensuing fiscal years and shall indicate in separate sections: a Proposed expenditures for current operations during the ensuing fiscal year, detailed by Town Agency, function and work programs, and the proposed methods of financing such expenditures. b Proposed capital expenditures during the ensuing fiscal year, detailed by Town Agency, and the proposed method of financing each such capital expenditure. c Estimated surplus revenue and free cash at the end of the current fiscal year, including estimated balances in any special accounts established for specific purposes. d All encumbered funds from prior fiscal years. 7.6 Action on the Budget 7.6.1 Public Hearing The Finance Committee shall, forthwith upon receipt of the proposed budget, provide for publication in a local news medium of a notice stating the date, time and place, not less than five (5) nor more than fourteen (14) days following such publication, when a public hearing shall be held by the Finance Committee on the proposed budget. 56 7.6.2 Finance Committee Meetings The Finance Committee shall consider in public meetings the detailed expenditures proposed by the Town Manager for each Town Agency and may confer with representatives of any such Town Agency in connection with such considerations. The Finance Committee ma y require the Town Manager or any other Town Agency to provide such additional information as it deems necessary or desirable in furtherance of its responsibilities. 7.6.3 Presentation to the Town Meeting The Finance Committee shall file a report of its recommendations with the Town Clerk in sufficient time to be distributed to all Town Meeting Members at least fourteen (14) days before action on the budget Warrant Article is to begin. The budget to be acte d upon by the Town Meeting shall be the budget as proposed by the Finance Committee; provided, however, that such budget may be amended by Town Meeting. 7.6.4 All Warrant Articles requiring an appropriation shall be considered and reported thereon by the Finance Committee. 7.7 Capital Improvements Program The Town Manager shall submit a Capital Improvements Program to the Board of Selectmen Select Board and the Finance Committee at least thirty (30) days before the date fixed for submission of his the proposed budget. Such Capital Improvements Program shall contain: a A general summary of its contents; b A list of all capital improvements proposed to be undertaken during the ensuing five (5) years, with supporting information as to the need for each capital improvement; and c Cost estimates, methods of financing and recommended time schedules for each such capital improvement. The Capital Improvements Program may further contain the estimated annual cost of operating and maintaining each such capital improvement. This information may be annually revised with regard to the capital improvements still pending or in the process of being acquired, improved or constructed. ARTICLE 8 GENERAL PROVISIONS 8.1 Charter Changes This Charter may be replaced, revised or amended in accordance with the procedures made available by Article LXXXIX of the amendments to the Constitution of the Commonwealth of Massachusetts and Chapter 43B of the Massachusetts General Laws. 8.2 Severability If any provision of the Charter shall be found invalid for any reason in a court of competent jurisdiction, such invalidity shall be construed as narrowly as possible, and the balance of the Charter shall be deemed to be amended to the minimum extent neces sary, so as to secure the purposes thereof, as set forth in the Preamble. 8.3 Specific Provisions Prevail To the extent that any specific provision of the Charter may conflict with any provision expressed in general terms, the specific provision shall be deemed to prevail. 57 8.4 References to Massachusetts General Laws All references to the Massachusetts General Laws contained in the Charter refer to the General Laws of the Commonwealth of Massachusetts and are intended to include any amendments or revisions to such chapters and sections or to the corresponding chapters and sections of any rearrangement of the Massachusetts General Laws enacted subsequent to the adoption of the Charter. 8.5 Computation of Time In computing time under the Charter, if seven (7) days or less is specified, only days that Town Hall is open to the general public shall be counted; if more than seven (7) days is specified, every calendar day shall be counted. 8.6 Number and Gender Words importing the singular number may extend and be applied to several persons or things, and words importing the plural number may include the singular and words importing the masculine gender shall include the feminine gender. 8.7 Rules and Regulations A copy of all Rules and Regulations adopted by any Town Agency shall be filed in the Office of the Town Clerk and made available for review by any person upon request provided, however, that such Rules and Regulations shall become effective ten (10) days f ollowing their adoption, whether or not they are so filed. 8.8 Procedures of Boards or Committees 8.8.1 Meetings All boards or committees shall meet in compliance with Open Meeting Laws at such times and places as they may, by their own rules, prescribe. Additional meetings of any board or committee shall be held on the call of the respective chair or by a majority of the members thereof. 8.8.2 Rules and Minutes Each board or committee shall determine its own rules and order of business unless otherwise provided by the Charter or by Town Bylaw and shall provide for the keeping of minutes of its proceedings. Copies of these rules and minutes shall be publicly available in the Office of the Town Clerk and on the Town website and in the Library. 8.8.3 Voting Except on procedural matters, all votes of all boards or committees shall be taken by a show of hands, or roll call vote, the results of which shall be recorded in the minutes. A majority vote shall be necessary to adopt any motion, order, appointment or approval to take any action not entirely procedural in nature. 8.8.4 Quorum A majority of the number of members of a board or committee specified in the Charter or other action creating such board or committee shall constitute a quorum thereof, but a smaller number may adjourn a board or committee meeting from time to time to another time. 8.9 Elections 8.9.1 Annual Town Elections 58 The choice of elected Town Officers and Town Meeting Members, as well as referendum questions, shall be acted upon and determined on the date fixed by Town Bylaw by voters on official ballots without party or other designation. 8.9.2 Procedures All elections held pursuant to the Charter shall be conducted in accordance with the election laws of the Commonwealth of Massachusetts. 8.9.3 Any town-wide election shall be held at the same time for each precinct at a place or places designated by the Board of Selectmen Select Board. 8.10 Vacancies on Boards or Committees Whenever a new board or committee is established, or a vacancy occurs on any existing board or committee, the appointing authority shall forthwith cause notice of the vacancy to be publicly available for not less than fifteen (15) days. Any person who desi res to be considered for appointment to the position may, prior to the time the position is actually filled, file with the Town Clerk a statement setting forth his their interest in and qualifications for the position. 8.11 Recall Procedures 8.11.1 Application Any holder of an elective office, other than a Town Meeting Member, with more than six (6) months remaining in the term for which he they were was elected, may be recalled therefrom by the voters in the manner provided in this section. No recall petition shall be filed against a Town Officer within three (3) months after he they takes office. 8.11.2 Recall Petition Two hundred and fifty (250) or more voters, including at least twenty-five (25) voters from each of the precincts into which the Town is divided, may file with the Town Clerk an affidavit containing the name of the Town Officer whose recall is sought and a sworn statement of the grounds upon which the affidavit is based. The Town Clerk shall, within twenty-four (24) hours of receipt, submit the affidavit to the Board of Registrars of Voters who shall forthwith certify thereon the number of signatures that a re names of voters. A copy of the affidavit shall be entered in a record book to be kept in the office of the Town Clerk. If the affidavit contains sufficient signatures, the Town Clerk shall deliver to the first ten voters listed upon the affidavit, blank petition forms, in such number as requested, demanding such recall, with his signature and official seal attached thereto. They shall be dated and addressed to the Board of Selectmen Select Board; shall contain the names of all persons to whom they are issued, the name of the person whose recall is sought and the grounds for recall as stated in the affidavit; and shall deman d the election of a successor to the office held by such person. The recall petitions shall be returned and filed with the Town Clerk within twenty one (21) days following the date of the filing of the affidavit, signed by at least ten percent (10%) of th e voters and containing their names and addresses; provided, however, that not more than twenty five percent (25%) of the total number signatures may be from voters registered in any one precinct. 8.11.3 Recall Election 59 If the petition is certified by the Board of Registrars of Voters to be sufficient, it shall forthwith submit the petition with its certificate to the Board of Selectmen Select Board. Upon its receipt of the certificate, the Board of Selectmen Select Board shall forthwith give written notice of the petition and certificate to the Town Officer whose recall is sought, by mail, postage prepaid, to his their address as shown on the most recent voting list; and shall cause notice of the petition and certificat e to be publicly available. If such Town Officer does not resign his said office within five (5) days after the date of such notice, the Board of Selectmen Select Board shall order an election to be held not less than 64 days or not more than 90 days from the date the Board of Selectmen Select Board orders the election; provided, however, that if any other town election is to occur not less than 70 days or not more than 90 days after the date of the certificate, the Board of Selectmen Select Board shall hold the recall election on the date of such other election. If a vacancy occurs in said office after a recall election has been ordered, the election shall nevertheless proceed as provided in this section, and the ballots for candidates shall, notwithstanding a recall provision to the contrary, be counted to determ ine a successor in office. 8.11.4 Nomination of Candidates No Town Officer whose recall is sought may be a candidate to succeed himself themselves in the recall election. The nomination of candidates, the publication of the Warrant for the recall election, and the conduct of the election shall all be in accordance with the provisions of law relating to elections. 8.11.5 Propositions on Ballot Ballots used in a recall election shall state the following propositions in the order indicated: For the recall of (name of Town Officer) Against the recall of (name of Town Officer) Adjacent to each proposition, there shall be a place to vote for either of the said propositions. After the proposition shall appear the word "candidates" and the names of candidates nominated pursuant to Massachusetts General Laws Chapter 54, Section 42. If a majority of the votes cast upon the question of recall is in the affirmative, the candidate receiving the highest number of votes shall be declared elected and the incumbent shall be deemed removed upon the qualification of his their successor, who shall hold office during the unexpired term; provided, however, that, if the successor fails to qualify within five (5) days after receiving notification of his their election, the incumbent shall thereupon be deemed removed and the office shall be deemed va cant. If a majority of votes cast upon the question of recall is in the negative, no candidate shall be declared elected, and the Town Officer whose recall was sought shall continue in office for the remainder of his their unexpired term, subject to recall as before. 8.11.6 Repeat of Recall Petition No recall petition shall be filed against a Town Officer subjected to a recall election and not recalled thereby, until at least six (6) months after the election at which his their recall was submitted to the voters. 60 8.12 Removal of an Appointed Board or Committee Member 8.12.1 Removal Process The appointing authority of any board or committee may remove (1) an appointed member of such a board or committee with more than six (6) months remaining in the term for which he was they were appointed; or (2) an appointed member of such board or committee who is serving with no specified term length. For purposes of Article 8.12, the term appointing authority shall include the board or commission, Town Officer, or employee, including those employees serving without compensation and subject to Massachusetts General Laws Chapter 268A, who exercises such appointment or removal power pursuant to law o r otherwise obtained through delegation. The process for such removal may be initiated in any of three methods: a The appointing authority may, by majority vote, cause a notice of removal to be filed with the Town Clerk. The notice shall be in writing and shall specify the grounds for such removal request; b A board or committee may, by majority vote, submit a written request that the appointing authority remove one of its members, specifying the grounds for such removal request in writing and causing a notice of removal to be filed with the Town Clerk; c One hundred (100) or more voters may file with the Town Clerk a petition requesting the removal of a member of a board or committee, specifying the grounds for such removal. Upon certification by the Board of Registrars of Voters of a sufficient number of valid signatures, the Town Clerk shall immediately notify the appointing authority thereof. A copy of the notice, request, petition, or certification shall be delivered by the Town Clerk to the board or committee member forthwith. Delivery shall be by mail, postage prepaid, to their last known address. 8.12.2 Public Hearing A public hearing shall be convened by the appointing authority not less than twenty (20) nor more than thirty (30) days after a notice, request or valid petition for removal is filed with the Town Clerk. Not less than five (5) days (see Section 8.5) ten (10) days prior to such hearing, written notice thereof shall be given by the Town Clerk to the board or committee member whose removal is sought, by mail, postage prepaid, to his their last known address. Not less than forty-eight (48) hours prior to the time set for the commencement of the public hearing, the board or committee member shall be entitled to file a written statement with the appointing authority responding to the reasons cited for the proposed removal. The board or committee member may be represented by counsel at the public hearing, and shall be entitled to present evidence, call witnesses and, personally or through counsel, question any witnesses appearing at the hearing. 8.12.3 Removal The appointing authority may, by majority vote, adopt a final resolution of removal, which shall be effective upon adoption. Failure to adopt a final resolution of removal within thirty (30) days of the close of the public hearing shall be deemed to be a disapproval of such resolution. The action of the appointing authority in removing the 61 board or committee member shall be final, it being the intention of this provision to vest all authority and fix all responsibility for such removal in the appointing authority. The board or committee member shall continue to serve on the board or committe e until a final resolution of removal has become effective. 8.13 Resignation of Town Officers Any person holding an elective or appointive office may resign his their office by filing a notice of resignation with the Town Clerk, and such resignation shall be effective immediately upon such filing, unless a time certain is specified therein when it shall take effect. 8.14 Town Seal The Town Seal in existence at the time of adoption of the Charter shall continue to be the Town Seal and shall be kept in the custody of the Town Clerk. Papers or documents issued by any Town Officer or Town Agency may be attested by use of the Town Seal. or take any other action with respect thereto. Select Board Background: The Reading Town Charter requires the creation of a Charter Review Committee at least once every ten years. Specifically, Article 4.13 of the Charter states that the Committee shall review the Charter and make a report, with recommendations, to the Town Meeting the Committee shall determine to be necessary or desirable. Article 8 and Article 9 of this Subsequent Town Meeting Warrant, together, present the slate of changes proposed by the Committee. Amendments approved under Article 8 will be presented, if approved by the Attorney General, to the public for its consideration at the ballot at the Annual Town Election in April of 2026. The amendments proposed under Article 9 fall outside the scope of amendments that the Town may adopt through the Home Rule Amendment Process. Thus, legislative action is necessary to effective those changes. If Article 9 is approved by Town Meeting, these amendments will be submitted to the legislature for approval as part of a Home Rule Petition. Below is a brief explanation of the changes: Reference Simplify, clarify, modernize Noteworthy Change Additional Explanation Special Act Article 1: Existence, Authority and Definitions 1.2 Yes No No 1.5 Yes No No 1.6 Yes Yes Expanded the definition of “local news medium” to include the Town Website. Redefined “majority vote” to mean a majority of those present and voting. Yes Article 2: Representative Town Meeting 2.2 Yes No No 2.3 Yes No No 2.6 Yes Yes Provides opportunity to be heard before removal from Town Meeting. Yes 2.9 Yes No No 62 Reference Simplify, clarify, modernize Noteworthy Change Additional Explanation Special Act 2.10 Yes No No 2.11 Yes No No 2.12.1 Yes Yes Clarify process for appointment when Chair of the Finance Committee is in the last year of their term. No 2.12.2 Yes Yes Clarify process for appointment when Chair of the Bylaw Committee is in the last year of their term. No 2.13 Yes No No 2.14 Yes No No 2.15.1 Yes Yes Clarified the process for submitting a petition. No Article 3: Elected Officers and Boards or Committee 3.1 Yes No No 3.2 Yes No No 3.3 Yes No No 3.4 Yes No No 3.5 Yes No No Article 4: Appointed Boards or Committees 4.1 Yes No No 4.2 Yes No No 4.4 Yes No No 4.5 Yes No No 4.6 Yes No No 4.7 Yes No No 4.8 Yes Yes Establishes the membership of Historical Commission at 5 individuals. No 4.9 Yes No No 4.10 Yes No No 4.11 Yes Yes Establishes the membership of Town Forest Committee at 5 individuals. No 4.12 Yes No No 4.13 Yes No No 4.15 Yes No No Article 5: Town Manager 5.1 Yes Yes Amends qualification for appointment to the position. Yes 5.2 Yes No No 5.3 Yes Yes Amends title of Ombudsman to Constituent Services Officer No 5.4.1 Yes No No 5.4.2 Yes Yes Clarifies terms of employment may be set by Select Board Yes 5.4.3 Yes No No 5.4.4 Yes No No 5.5 Yes No No 63 Reference Simplify, clarify, modernize Noteworthy Change Additional Explanation Special Act 5.5.1 Yes No No 5.5.2 Yes No No 5.5.3 Yes No No Article 6: Administrative Organization 6.1 Yes No No 6.2 Yes Yes Amends qualifications for appointment to the position. No 6.3 Yes No No 6.4 Yes No No 6.5 Yes No No 6.6 Yes No No Article 7: Budget and Capital Improvements Program 7.2 Yes No No 7.3 Yes No No 7.5 Yes No No 7.6.2 Yes No No 7.6.3 Yes No No 7.7 Yes No No Article 8: General Provisions 8.6 Yes No No 8.8.2 Yes Yes Clarifies that copies of rules and minutes shall be available on the Town website. No 8.8.4 Yes No No 8.9.3 Yes No No 8.10 Yes No No 8.11.1 Yes No No 8.11.2 Yes Yes Amends the number of registered voters that must submit a recall affidavit. Incorporates additional notice provisions relative to the recall process and expands the time for filing a recall petition. Amends numbers of signatures required to trigger a recall election. Yes 8.11.3 Yes No No 8.11.4 Yes No No 8.11.5 Yes No No 8.11.6 Yes No No 8.12.1 Yes Yes Clarifies removal process for appointed officials. No 8.12.2 Yes Yes Amends number of day’s notice required for a removal hearing. No 8.12.3 Yes Yes Clarifies removal process and hearing procedure. No 8.13 Yes No No 64 Finance Committee Report: No Report. Bylaw Committee Report: At their meeting on October 9, 2025, the Bylaw Committee voted _____ to recommend this Article to Town Meeting. ARTICLE 9 To see if the Town will vote to authorize the Select Board, on its behalf, to petition the General Court for passage of a special law substantially as provided below.  The Legislature may make clerical or editorial changes in form only to the bill, unless the Select Board approves amendments to the bill before enactment by the Legislature.  The Select Board is hereby authorized to approve amendments that shall be within the scope of the general public objectives of this petition. AN ACT RELATIVE TO THE TOWN OF READING HOME RULE CHARTER Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows: Section 1: Article 1 of the Town of Reading Home Rule Charter as amended through by November 1, 2025, a copy of which is on file in the office of the archivist of the Commonwealth pursuant to Chapter 43B of the General Laws, is hereby amended by striking the definition of “Majority Vote” in section 1.6 thereof in its entirety and inserting, in place thereof, the following definition: Majority Vote – The term “majority vote” shall mean the affirmative vote of a majority of those present and voting provided that a quorum of the body is present. Section 2: Article 2 of said Charter is hereby amended by striking section 2.6 thereof in its entirety and inserting, in place thereof, the following section: 2.6 Vacancies A Town Meeting Member may resign by filing a written notice with the Town Clerk. A Town Meeting Member who terminates residency in the Town shall cease to be a Town Meeting Member. A Town Meeting Member who moves their residence from the precinct from which they were elected to another precinct shall serve only until the next Annual Town Election. If any person elected as a Town Meeting Member fails to attend one-half or more of the total Town Meeting sessions within one year preceding the most recent Annual Town Election, their seat may be declared vacant by a majority vote of the Town Meeting, after providing the member an opportunity to be heard. The Select Board shall place an Article on the Annual Town Meeting Warrant to remove any such Town Meeting Member from office. At least seven (7) days prior to the Annual Town Meeting, the Town Clerk shall notify any such Town Meeting Member that they may be removed from office, provided, however, that such notice shall be deemed adequate if mailed postage prepaid to the Town Meeting Member’s last known address. 65 Any vacancy in a Town Meeting position may be filled until the next Annual Town Election by a vote of the remaining Town Meeting Members of the precinct, provided, however, that the balance of any unexpired term shall be filled at the next Annual Town Election. In the event of a vacancy, the Town Clerk shall give written notice thereof to the remaining Town Meeting Members of the precinct and shall publish such notice in a local news medium. Such notice shall provide at least seven (7) day’s advance notification of the time and place for a precinct meeting for the purpose of temporarily filling the vacancy. Section 3: Article 5 of said Charter is hereby amended by striking section 5.1 thereof in its entirety and inserting, in place thereof, the following section: 5.1 Appointment, Qualifications and Term The Select Board shall appoint a Town Manager, who shall be appointed solely on the basis of their executive and administrative qualifications. The Town Manager shall be a professionally qualified person of proven ability, especially fitted by education, training and previous experience. The candidate shall have at least three (3) years of full-time paid experience as a City or Town Manager or Assistant City or Town Manager or five (5) years of equivalent level public or private sector experience. The terms of the Town Manager's employment shall be the subject of a written contract, for a term not to exceed three (3) years, setting forth their tenure, compensation, vacation, sick leave, benefits, and such other matters as are customarily included in an employment contract. The Town Manager’s employment contract shall be in accordance with and subject to the provisions of the Charter and shall prevail over any conflicting provision of any personnel bylaw, rule, or regulation. The Town Manager’s compensation shall not exceed the amount annually appropriated for that purpose. The Town Manager shall devote full time to the office and, except as expressly authorized by the Select Board, shall not engage in any other business or occupation. Except as expressly provided in the Charter, the Town Manager shall not hold any other public elective or appointive office in the Town; provided, however, that, with the approval of the Select Board, the Town Manager may serve as the Town’s representative to regional boards, commissions or similar entities, but shall not receive any additional salary from the Town for such services. Section 4: Article 5 of said Charter is hereby further amended by striking section 5.4.2 thereof in its entirety and inserting, in place thereof, the following section: 5.4.2 Long-Term Absence In the event of the absence, incapacity, or illness of the Town Manager in excess of thirty (30) days, the Select Board shall without delay appoint a qualified individual to serve as Acting Town Manager until the Town Manager returns., under terms of employment to be determined by the Select Board and in accordance with Section 5.4.4. 66 Section 5: Article 8 of said Charter is hereby amended by striking section 8.11.2 thereof in its entirety and inserting, in place thereof, the following section: 8.11.2 Recall Petition Two percent (2%) of registered voters, including at least twenty-five (25) voters from each of the precincts into which the Town is divided, shall file with the Town Clerk an affidavit containing the name of the Town Officer whose recall is sought and a sworn statement of the grounds upon which the affidavit is based. The affidavit shall contain a factual statement which alleges and includes relevant evidence of an explicit legal or ethical breach of the officeholder’s sworn responsibilities. The Town Clerk shall, within twenty-four (24) hours of receipt, submit the affidavit to the Board of Registrars of Voters who shall forthwith certify thereon the number of signatures that are names of voters. A copy of the affidavit shall be entered in a record book to be kept in the office of the Town Clerk. If the affidavit contains sufficient signatures, the Town Clerk shall deliver to the first ten voters listed upon the affidavit, blank petition forms, in such number as requested, demanding such recall, with the Town Clerk’s signature and official seal attached thereto. The Town Clerk shall cause to be delivered a copy of the affidavit by certified mail to the elected official’s address of record whose recall is being sought within five business days of the blank petition forms being delivered. They shall be dated and addressed to the Select Board; shall contain the names of all persons to whom they are issued, the name of the person whose recall is sought and the grounds for recall as stated in the affidavit; and shall demand the election of a successor to the office held by such person. The recall petitions shall be returned and filed with the Town Clerk within thirty (30) days following the date of the filing of the affidavit, signed by at least twenty percent (20%) of the voters and containing their names and addresses; provided, however, that not more than twenty percent (20%) of the total number signatures may be from voters registered in any one precinct. Section 6: The Reading town clerk may make non-substantive changes to the numbering of the sections of the town of Reading home rule charter. Section 7: This Act shall take effect upon approval by the voters, at a local election, of the further amendments to the Town of Reading Home Rule Charter adopted pursuant to Article 8 of the November 10, 2025 special town meeting. or take any other action with respect thereto. Select Board Background: For background, please see Article 8. Finance Committee Report: No Report. Bylaw Committee Report: At their meeting on October 9, 2025, the Bylaw Committee voted _____ to recommend this Article to Town Meeting. 67 ARTICLE 10 To see if the Town will vote to raise and appropriate, transfer from available funds, borrow or otherwise provide $50,000 or any other sum or sums of money for removal of invasive plant species from the Town Forest; or take any other action with respect thereto. Town Forest Committee Background: The Town Forest, at nearly 300 acres in size, is a major multi-use recreational open space asset for the Town of Reading. This warrant article requests funding to continue the removal of invasive plants, which are destructive to the environment and cause ecological harm. Over the past several years, the Town has invested in the Forest by removing dying red pine trees, and those areas are at risk for being overtaken by invasive species if not properly managed. As we shift towards a sustainment plan, this request is 1/3rd of last year’s approved request, and will focus on previously untreated areas to protect the previous investment. Sustained management results in overall lower long-term costs, because it is much easier to remove small plants before they become established as large bushes or trees. Funding is needed due to the amount of invasive plants that need professional management, including application of herbicides by licensed applicators. Finance Committee Report: At their meeting on October 15, 2025, the Finance Committee voted _____ to recommend this Article to Town Meeting. Bylaw Committee Report: No Report. ARTICLE 11 To see if the Town will vote to adopt a bylaw regulating the clearing of public sidewalks by (1) inserting a new Article 8.15 into the Town’s General Bylaw, as follows: Article 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 Downtown Smart Growth Overlay District, as shown on the Town’s Zoning Map, shall 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 68 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 Town’s website and posted in Town Hall from November to April. Individuals shall not 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 and Administration 8.15.4.1 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. 8.15.4.2 This bylaw shall take effect on November 1, 2026, or immediate after it is posted by the Town Clerk in accordance with G.L. c.40, §32, whichever is later. And (2) by amending Article 1.8 of the General Bylaws by inserting a new line in the table, as follows: Bylaw Section Bylaw Title Enforcing Person Penalty- First Offense Penalty- Second Offense Penalty- Additional Offences 8.15 Clearing of Public Sidewalks Director of Public Works; and Police Department $100 $200 $200 or take any other action with respect thereto. Bylaw Committee Background: At Subsequent Town Meeting in 2022, a Citizen Petition Article was submitted to create a new bylaw requiring downtown business owners to clear their sidewalks of snow and ice following a winter storm. The Bylaw Committee agreed to investigate the issue. Massachusetts General Law (M.G.L.) allows towns to create local ordinances regarding snow and ice removal. The Bylaw Committee researched how other municipalities handle their snow removal and decided to craft a bylaw for Reading’s Downtown Smart Growth District to present to Town Meeting for its consideration. Finance Committee Report: No Report. Bylaw Committee Report: At their meeting on October 9, 2025, the Bylaw Committee voted _____ to recommend this Article to Town Meeting. 69 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 10, 2025, 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. Given under our hands this __th day of ___________, 2025. _______________________ Christopher Haley, Chair _______________________ Melissa Murphy, Vice Chair _______________________ Karen Rose-Gillis, Secretary _______________________ Carlo Bacci, Member _______________________ Karen Gately Herrick, Member SELECT BOARD OF READING _______________________________ , Constable 70