Funds for capital appropriations come from the Capital Stabilization Fund, which is annually funded at 2% of the general fund revenues from property taxes, state aid and local receipts.
Composition
- Appointed by the Select Board
- Six members
- Three year staggered term committee positions elected by its memebers
Current members of the committee are: Stephen Metz (Chair), Cliff Hedges, Ira Smolowitz, Curt Freedman, Timothy Dupuis and one vacancy.
Function and Purpose
- Solicit and review capital requests from all town departments. Capital is defined as:
- Major repairs exceeding $10,000 with a useful life of ten (10) years or more.
- Purchases of major equipment exceeding $10,000 with a useful life of five (5) years or more.
- Submit to the Select Board a recommendation of captital items to be funded from the Capital Stabilization Fund.
- Review prior year capital appropriations to assure expenditures met appropriated purpose.
- Develop a long range capital plan for replacement of town capital assets.
The Capital Planning Committee meets regularly from October through February preparing recommendations to the Select Board prior to the Spring Annual Town Meeting. The Select Board may accept this committee’s recommendations or modify them in any manner they see fit.