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Purpose

In an attempt to better identify, prioritize, organize and track the town's capital needs, the Town Manager is implementing a Capital Planning Committee. The committee members were appointed by the Town Manager as it is budget-related. The Capital Planning Committee shall research, study and report to the Town Manager, who shall consider their recommendations during the annual budget process. Capital expenditures shall be defined by the committee at an upcoming meeting, but generally will include such items as town vehicles (cruisers, highway trucks, fire trucks and ambulances), major infrastructure repairs and projects (including roads, drainage, etc.) major building renovations or alterations, new construction and municipal land purchases. The committee shall conduct due diligence reviews of major building, land improvement, and or infrastructure capital requests in order to fulfill its review responsibility.

The committee shall be charged with facilitating the coordination between community objectives, capital needs and fiscal capacity. The committee will help the town understand the tax impact of capital expenditures, and consider the relative need timing and cost of each capital expenditure, including methods of financing, possible federal or state aid or grants, the cost of maintaining the facility or equipment, and the effect each capital expenditure may have on the financial condition of the town. The committee shall consider requests, make recommendations, and be responsible for capital planning on a continuing basis. It shall produce an annual written report (delivered in early fall to the Town Manager) which outlines capital projects priorities, estimates and projections of revenue, operating expenses, historic trends, tax rates, and debt which shall assist the Town Manager, Select Board and Finance Committee in making decisions, and in keeping the public informed about the town's current and future anticipated capital needs and projects.