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S <br /> M <br /> Capital Improvement Committee <br /> Minutes <br /> November 301, 1999 <br /> e artmental Prlontr ation of CIP Submissions: <br /> School: <br /> Dishwasher $401000 -FYO I <br /> Staining Wood $38,000 -FYo 1 <br /> School van $265000 •- FYO 1 <br /> The estimate for the replacement of wood to exterior vinyl finish was <br /> $381,000. Additional assumptions for labor are estimated to cost $10,000. <br /> Ton Clergy: <br /> No CIP prioritization for FYO l.. <br /> Town Hall: <br /> Upper Level &Basement Renovations Study $30PO—FYO I <br /> Cemetery Study $20,000—FYO l <br /> Board of Health: <br /> Drainage, erosion control $505000—FYO I <br /> Replacement vehicle $251000 <br /> Financial Overview: <br /> The Committee reviewed the Capital Improvement Program funding <br /> levels since inception. Mr. Whritenour recommended that a figure of <br /> $+750,000 be considered for fiscal year 2001 Capital Improvement <br /> Program needs. An updated prioritization overview ill be submitted to <br /> the Committee at the next scheduled meeting. <br /> Discussion followed with respect to the general government debt service <br /> from FY98 to FY06. A sample of capital improvement projects was <br /> considered to reflect estimated total debt. <br /> The Committee agreed that it Is critical for the town to establish sound <br /> fiscal debt management. A formal policy should be adopted to maintain a <br /> financial infrastructure planning process. <br />