Thursday, March 9, 2017

Town Meeting Warrant Article Review (Part 3)

Article 16 – To see if the Town will vote to raise and appropriate the sum of $80,000 from general taxation to be added to the capital reserve accounts previously established as listed below.  This appropriation is to come from general taxation.  The Selectmen Recommend Approval by vote of 3 to 0. (Majority Vote Required) (Amount NOT included in Article 19)
            Corcoran Pond Capital Reserve Account                                                                   $20,000
            Ladder Truck Capital Reserve Account                                                                     $20,000
            Road Repair Capital Reserve Account                                                                       $20,000
            Fire Apparatus Maintenance and Replacement Capital Reserve Account                 $10,000
            Public Works Backhoe Maintenance and Replacement Capital Reserve Account    $10,000

Article 16 - This article is included in the warrant to fund our existing capital reserve accounts in 2017.  Last year Town Meeting suggested that the Town group capital reserves into more generic, larger groups to simplify the voting process.  When we discussed this idea with NH Department of Revenue it became clear that statutory requirements would make that very confusing so we developed this way of presenting the article.  If Town Meeting wishes to modify the funding levels of any of the accounts an amendment would be presented  to change the amount going to the account and the total appropriation (e.g. Changing Fire Apparatus Account to $5,000 and the total appropriation amount to $75,000).

These accounts are used for emergency repairs during the year or are "savings accounts" for major purchases that we have coming up in the future.

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