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Submitted to Acton Town Clerk on December 30, 2008
ARTICLE
To see if the Town will raise and appropriate, or appropriate from available funds, a sum of money for a Stabilization Fund for the Town, or take any other action relative thereto.
ARTICLE
To see if the Town will determine an amount of Free Cash and/or of the Recycling and Transfer Station Enterprise Fund which shall be used for the purpose of reducing the tax rate for the fiscal year beginning July 1, 2009, or take any other action relative thereto.
Summary
It had been customary to provide the Annual Town Meeting with an opportunity to determine whether an amount of the Town’s reserves should be used to reduce the tax rate. This petition requests that, pursuant to Article 3, Section 3-5 of the Charter of the Town of Acton, the Acton Board of Selectmen include this Article for the April 2009 Annual Town Meeting.
ARTICLE
To see if the Town will raise and appropriate, or appropriate from available funds, a sum of money to be expended by the Acton Finance Committee to support their activities for the fiscal year starting July 1, 2009, or take any other action relative thereto.
Summary
The Acton Finance Committee is the only major town board that has no staff support. Members of the Finance Committee must do their own research, keep the minutes of the meetings, and rely on the availability of municipal and school staff to provide information. These funds are intended to allow the Finance Committee, at its discretion, to pay for services such as secretarial help, membership fees in Finance Committee organizations, or any other purpose which would support their mandate of making recommendations to the Acton Town Meeting.
RESOLUTION
A Resolution of the Town of Acton related to the Adoption of a Reserve Policy
Whereas, the Town of Acton could increase transparency in the budgeting process;
Whereas, the Town has a history of conflicting and inconsistent use of its financial reserves;
Whereas, there is disagreement about the definition of “reserves;”
Whereas, depletion of reserves has led to two general overrides in the past six years;
Whereas, establishment of a Reserve Policy is recommended by Department of Revenue and is generally considered a sound financial planning tool;
Now, therefore it be resolved that:
The Acton Board of Selectmen and the Acton Finance Committee adopt a Reserve Policy.
RESOLUTION
A Resolution of the Town of Acton related to the appropriations for debt and interest
Whereas, the Town of Acton should increase transparency in the budgeting process;
Whereas, debt and interest costs, including those funded by debt exclusion overrides, have been included in municipal and school operating budgets;
Whereas, such debt and interest costs are determined at the time that the debt is incurred and are not part of yearly operations;
Whereas, such debt and interest costs generally decrease over time;
Whereas, inclusion of debt and interest in yearly operating budgets distorts the year-to-year operating budget comparisons:
Now, therefore be it resolved that:
All Municipal and Acton Public School debt and interest costs be presented as a separate Town Meeting Article.
RESOLUTION
A Resolution of the Town of Acton related to the presentation of new capital projects to the Acton Town Meeting
Whereas, the Town of Acton should increase transparency in the budgeting process;
Whereas, some new capital items have been funded within Municipal and School operating budgets without specific review by Town Meeting;
Whereas, Town Meeting should be allowed to decide whether to support any capital project;
Whereas, inclusion of capital items in yearly operating budgets distorts the year-to-year operating budget comparisons;
Whereas, the Town of Acton currently employs a “bottom line” budget which allows some projects to be funded that have not been approved by Town Meeting;
Now, therefore be it resolved that:
1. A capital project be defined as costing more than $25,000 and having a useful life of more than five years, the cost shall be defined as total out-of-pocket cost regardless of whether the item is paid for in one fiscal year or financed over time.
2. Yearly operating budgets shall not include capital projects.
3. All new capital projects be presented as separate Town Meeting Articles.
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