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5 <br /> Community Preservation Committee <br /> Minutes <br /> January 6, 2022 <br /> Article to set aside 10%Reserves &Budgeted for Appropriation Reserve (Surplus Funds from <br /> FY2022 State Budget): <br /> This is a clean-up article for the Special Town Meeting Warrant to meet the requirement of <br /> reserving funds from the CPA FY 2022 Trust Fund Distribution. The amount of the FY22 state <br /> reimbursement is higher than the initial estimate. The CPC is required to set aside 10% of those <br /> excess funds to the CPA Reserves for Open Space/Recreation purposes, Historic purposes and <br /> Affordable Housing purposes. <br /> Article to Fund the FY2023 CPA Administrative &Operating Expense Budget: <br /> This Annual Town Meeting Article provides funding in FY 2023 for the Administrative & <br /> Operating Expense Account of the CPA. The $40,000 allocation supports legal and professional <br /> fees, technical reviews, appraisal costs, signage, annual Community Preservation Coalition dues, <br /> administrative wages, office supplies and similar costs incidental to the development of a CPA <br /> project. <br /> Motion made by Mr. Larkin to approve the above referenced (2) articles as presented for <br /> placement on the Annual& Special Town Meeting Warrants of May 2, 2022. <br /> Motion seconded by Mr. Hyde. <br /> VOTE: Unanimous. 7-0. <br /> Roll Call Vote: <br /> Mr. Gottlieb, yes Mrs. Thayer,yes Mr. Hyde, yes Mr. Larkin,yes <br /> Ms. Barbee, yes Mr. Shackett, yes Ms. Russell, yes Opposed, none <br /> Ms. Waygan, Mr. Smith absent for vote. <br /> Continued Review of CPA Projects considered for the May 2022 Special Town Meeting warrant, <br /> Possible Vote& Action on proposed projects; <br /> The Community Preservation Committee continued their review and took action on the <br /> following projects proposed for the Special Town Meeting Warrant of May 2, 2022. <br /> The current balances of the 10% Reserve categories are as follows; <br /> Open Space/Recreation Reserve: $508,924.31 <br /> Affordable Housing Reserve: $719,004.05 <br /> Historic Purpose Reserve: $691,063.85 <br /> The Budgeted for Appropriation Reserve Balance is $926,834. <br /> The Uncommitted Fund Balance is $4,566,419.60. <br />