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2 <br /> Capital Improvement Conunittee <br /> Minutes <br /> November 27, Zoo l <br /> Tuesday, December 18, tool — :00 p.m. <br /> School Department <br /> Transfer Station <br /> Town Mall <br /> DPW <br /> The Town Accountant distributed a spreadsheet of requested <br /> vehicle acquisitions for fiscal year Zoo . <br /> The CIP agreed upon the following for continued discussion: <br /> Research—What is the actual definition of a capital expenditure? <br /> (Legal aspect pertaining to Town, IRS, & State requirements) <br /> Capital Improvement as it relates to operating capital such as vehicle <br /> replacements and yearly leases and capital improvement of major capital <br /> items such as buildings and lam was considered. <br /> The issue of subdivision road maintenance and funding under capital <br /> and/or expense was discussed. The replacement of computers as an <br /> operating expense and/or capital expense and the need for photo copiers <br /> was also considered. <br /> The Committee agreed to review Potential avenues for capital <br /> improvement and make a recommendation to the Board of Selectmen. <br /> Board of Selectman member David Reveille distributed an informational <br /> handout related to the inventory of capital equipment. All departments <br /> will be requested to Provide information to the CIP Committee with <br /> respect to the following; <br /> manufacturer year (date of purchase) <br /> miles/hours purpose <br /> maintenance cost—last two years if appropriate <br /> condition—excellent, good, fair, poor <br /> estimated trade in value if vehicle is to be replaced <br /> to whom vehicle is assigned <br /> list of all employees &those using vehicles by job assignment <br />