Article 20. Appropriation to Capital Stabilization Fund

ARTICLE 20. To determine whether the Town will transfer from available funds $1,250,000 to the Capital Stabilization Fund; or take any other action relative thereto.

Article Explanation

The newly adopted Financial Reserve Policy leaves the target funds for Capital as to be determined for future projects by the Town Manager and Chief Financial Officer. However, while known projects are under consideration, the Financial Policy Working Group encourages setting aside funds in anticipation of need. In order to balance the distribution of available funds to meet target balances in savings, the Working Group, Town Manager and CFO have determined that $1,250,000 is an appropriate beginning balance for the Capital Stabilization fund.

Article Motion

Ms. Wasoff moves that the Town vote to transfer $1,250,000 from Free Cash to the Capital Stabilization Fund.