05/07/2018 Annual Town Meeting - Laserfiche WebLink

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Article 5 To see if the Town will vote to appropriate and transfer a sum of money from revenue available for appropriation to the Other Postemployment Benefits Irrevocable Trust Fund, or take any other action relating thereto. Submitted by the Board of Selectmen Explanation: This article is to add funds to the OPEB Irrevocable Trust Fund which was established in FY 2013. This trust fund was established to assist the Town with meeting its potential post-employment benefits obligation. The Board of Selectmen made no recommendation. The Finance Committee recommends approval of Article 4 by a vote of 6-0. Motion made by Selectman John Cotton. Motion: I move the Town vote to appropriate and transfer the sum of $200,000 from revenue available for appropriation to the Other Postemployment Benefits Irrevocable Trust Fund. Motion passes unanimously at 7:48 PM. Article 6 To see if the Town will vote to appropriate and transfer the sum of $1,176,537 from revenue available for appropriation, to be deposited into the Capital Stabilization Fund, or take any other action relating thereto. Submitted by the Board of Selectmen Explanation: This article will set aside funds in to Capital Stabilization account for future capital expenditures in an effort to ensure the Town will maintain its assets at a level adequate to protect the Town's capital investments and to minimize future maintenance and replacement costs. The Board of Selectmen recommends approval of Article 6 by a vote of 5-0. The Finance Committee recommends approval of Article 6 by a vote of 6-0. Motion made by Selectman Carol Sherman. Motion: I move the Town vote to appropriate and transfer the sum of$1,176,537 from revenue available for appropriation to be deposited into the Capital Stabilization Fund. Motion passes unanimously at 7:48 PM. 12