2012-Annual Town Report - Laserfiche WebLink

Home Browse Search

Article 7 The funding authorized by this article is the maximum anticipated Town's share of the FY 13 Chapter 90 pro. To see if the Town will vote to establish an Irrevocable gram. Trust Fund for the purpose of funding future potential liabilities for other Post Employee Benefits, and fur- The Board of Selectmen recommends approval by ther, the town vote to appropriate and transfer from a vote of 5-0. available funds$250,000 for said purpose,or take any other action relating thereto. Finance Committee recommends approval by a vote of 5-0,2 absent. Submitted by the Board of Selectmen Motion made by Selectman Carol Sherman. Explanation: If approved this article will establish a Trust Fund that would set forth a plan to meet the Motion: I move the Town vote to appropriate Town's potential obligation under what is known as $474,188 to provide for road improvement projects in GASB 45. and for the Town,in accordance with the provisions of Chapter 90 of the Massachusetts General Laws and to The Board of Selectmen recommends approval by authorize the Treasurer, with the approval of the a vote of 5-0. Board of Selectmen, to borrow the sum of$474,188 under and pursuant to the provisions of G.L.c.44 sec. Finance Committee recommends approval by a 7 & 8, or any other enabling authority, and to issue vote of 5-0,2 absent. bonds and notes of the Town therefor. Motion made by Selectman Michael Richardson. Motion passes unanimously at 7:51 PM. Motion: I move the Town vote to accept the provi- Article 9 sions of General Laws Chapter 32B, Section 20 and establish an Irrevocable Trust Fund for the purpose of To see if the Town will vote to appropriate and trans- funding future potential liabilities for Other Post fer from available funds $13,445 to fund the settle- Employment Benefits,and further,that the Town vote ment for the Administrator's Contract,Units A,B,and to appropriate and transfer from available funds C effective July 1,2012,with said funds to be distrib- $250,000 to said Irrevocable Trust Fund for said pur- uted to various salary line items by the Town pose. Accountant,or take any other action relating thereto, Motion passes unanimously at 7:50 PM. Submitted by the Board of Selectmen Article 8 Explanation: This article will grant a cost of living adjustment for Fiscal Year 2013 to employees whose To see if the Town will vote to borrow or transfer from positions are classified under the Administrator's available funds$474,188 to provide for road improve- Contracts,Units A,B, and C. ment projects under the Chapter 90 program, or take any other action relating thereto. The Board of Selectmen recommends approval by a vote of 5-0. Submitted by the Board of Selectmen Finance Committee recommends approval by a Explanation: This article authorizes use of funds vote of 5-0,2 absent. which will be 100% reimbursed by the Commonwealth of Massachusetts. The budget Motion made by Selectman John Cahalane. approved each fiscal year by the Legislature and Governor establishes the total funding available for Motion•• I move the Town vote to appropriate and Chapter 90 local transportation aid for that year. transferfrom available funds $13,445 to fund the These funds are then apportioned to the 351 Administrators Units A, B and C contract settlement Massachusetts towns and cities. 54