Town Meeting Preview #3: Article 27. Finance Committee – Stabilization Funds

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This is the third in the TMMA’s series of Town Meeting Previews of Articles that will be considered at the 2024 Spring Town Meeting. The previews are intended to facilitate the flow of information to Town Meeting members and enable better-informed debate and decisions.

The TMMA takes no policy position on pending Articles.

Preview #3: Finance Committee Article 27 - Stabilization Funds.pdf

Richard Rohan-2

At our precinct gathering during the break at Monday night's opening session of Town Meeting, a question was asked regarding the timing of the debt exclusion for the Lynch School renovation. Attached are 3 slides from the public hearing by the Finance Committee that shows a forecast of the cumulative effect of the current debt exclusions for WHS, McCall, and the 1st part of L:ynch, the remainder of the debt exclusion for Lynch, an assumed debt exclusion to replace the Muraco School. Note that the tax burden for these debt exclusion disappears as the debt is paid off. Next is the Capital Stabilization Fund (CSF), established by the voters in the operational override of 2002 and supplemented by operating overrides in 2019 and 2023. The next layers show the forecast for the Building Stabilization Fund (BSF), established by the voters in the operational override of 2002 followed by the 1.5% Community Preservation surcharge if the voters adopt the CPA in the November election. Finally, is the forecast for a $10 million operating override dedicated to the CSF and BSF. Note that these last 4 are operating overrides that compound by 2.5% year over year.

Forecast of Average per Household Property Tax Load.pdf

Richard Rohan-2

Attached are the slides that were presented under Article 27.

2024_05_06 Final FinCom Article 27.pdf