Town has $3,147,629 available with $3,337,267 in requests from Department heads for FY17
The Joint Capital Planning Committee -- made up of key players from Schools, Library, Town and Finance Committee -- had their first meeting of the year yesterday morning and overall the (short term) news was not so bad.
As usual there are more requests for new equipment or building repairs than there is money, but last year the deficit was twice as much.
The JCPC will continue to meet most Thursdays over the next two months until every department request has been scrutinized. Of course Town Meeting has the final say, but they always pretty much abide by JCPC recommendations.
The Committee also spent time discussing the major impact four new buildings -- Wildwood School, Jones Library, DPW and South Fire Station -- will soon have on upcoming budgets.
Before abandoning ship Finance Director Sandy Pooler came up with an excel spreadsheet that shows the tax impact of the four projects depending on whether a debt exclusion Override is used, or just tying to finance it within the budget via borrowing or combinations thereof.
Interestingly back in 1994 Town Meeting twice approved $4+ million Overrides to renovate Town Hall, both of which were turned down by the voters. Town Meeting then borrowed the money and did the project anyway, staying within the regular budget.