HomeMy WebLinkAbout1993-01-21 Capital Improvements Advisory Minutes':..J `:._iter,.:,it:... L.: ..s_,atYtT
ra: Advisory ;i...:E, -r.
MEETING #`"E t`+I#_3 t i:,$
resentg dim K51gley, Chairman
Mark ~...,Vice { t..~.:.i.Y...
Huber, !Fit:.. , .
George iis:.:mit....o> Secretary
William Murphy
Victor Petri
.«e't..ii;=P' 'a::"{:::!'!'.'.«n3::' l (a?:;. kn ei:'r Town Manager
The 'n>t.-.." c r:.,:..._., held at the Town Manager's Office in the Reading Town
The e ? 3 ; L:e $x::" ° '"t was called order
V__
F.t'ix' minutes ..«t v:_.. of the January 'i .i,: x, meeting were t(...t'::. the t:I.,::ia'tti',_i::::i_'}. a 'a`};' the
by a vote of 4-0-1,
,a::::,tr::#'i•..i "•r.{?.,d.t .•{"i:....p... distributed cat 1 ..#...i«Ji•,':i t,..1...;:A`i'._ ...j,. of 't..(!i::' capital
Peter
improvements
procedure. This procedure covered the process from the e point where town
departments determine
capital needs ...t.° the annual .i..'#"Et:- Capital
...r:_t_5; a.,.m !:.i•i s_
Improvements Program to t..'}i'.'•f#, Meeting. T3..Qis Subcommittee reviewed
v::`t4 t:"!
discussed the flow chart.
Peter yP. t r::........{........:"'i'T.3..... •.~:..yt.:•. distributed tct i' s updated ..4..,.,
, t t... , € ,_.1:'7.1.x-. # , worksheet reflecting the ,.j • 7::,' 6°J 3..T
r
s
general operations projected for fiscal
ful#"if:3.#.i`,,., for t::i.:c.,.,«.'1-.~ improvements t.~iCrzcl~.
years 1993 - .2004. This worksheet reflected estimated debt service 't
of the annual budgets, the projected debt service costs based an existing
l. o,!!..j. teY ,iT t:t,+::! short-term debt, i::t#''sd the ».,x„C:i`I['1';:.`:; available for „«..v, 4 , a.i.
ypenditures (which `•1c_t.:: the difference estimates {;s::.'a'•:::E on .x of b,..d•_
And the committed amounts). F'tF:i; Subcommittee
reviewed discussed the
projections.
The
reviewed t"~' Yt..: .,1.:: mission statement
Subcommittee at..,t d i..! pf?ri::f'}:::,. E'i k`:;# guidelines,
that ".ftµss =a« drafted the last meeting. 'J. ,i."t_+..1e Petri passed out t draft :x'tt of t.
mission statement and '...t operating guidelines. The Subcommittee used the
previously prepared draft and Victor's draft t..:..:i ?"!(adt;;'!: mission statement
and operating
guidelines,,
The Subcommittee discussed draft policy statements on,:
0 !t"... The percentage ...i f ._t4:i` the budget ,:7
i... operating that should be
allocated capital expenditures,
T, l-.......1, , t_' l of bonding periods, and
•_d s t,. ; . t..i of financing lower cost projects.
The : ~'i.f t ! # ...!.:...,i...r re:..J{ t...~.:,t..e agreed .{..hi^tit'... have work .in addressing
„ would i.^,..! :::fit::: further policies ra i t ._4 t ...r. f and I::i-#'°,~....cef.ur;^s ,_3.'": de.r:'({...€s..i • #.1g capital projects versus maintenance a..,r.
"and
r criteria for evaluating :.2: }.3 'l:. ra .i. projects.
The Subcommittee set ,^.i ::t '~'i»^.t." for the {^,5,;+j?. two meetings e { , ._.x { the , .t.. ~'',{=c: ; January the T{a:#" Hall Conference Room and February '7 .fr,..+i::j':;r ::.i..{ the { Town f-j .i! ("3t:ii t:.~-::. I , r. 28,199::!`-
in •
`S , meeting t::i C# # 5... ni:: t_ at p.m_
jig:
• ~ 8V