Minutes
Town of Temple
CIP Committee
Meeting Held on January 5,2015
Present: Connie Kieley, Gail Cromwell, Gary Scholl and Barry West
Absent: Mary Beth Ayvazian and Tedd Petro
The meeting was called to order at 7.10pm
The minutes for the meeting of December 15, 2014 were approved
Gary asked for agreement on the purpose of the spreadsheet. Following discussion it was agree that its purpose is to see where capital needs fell out and for use as a planning tool to aid the town in smoothing out capital expenditure thus smoothing out the tax rate. A question was asked as to if it contained a component for inflation and Gary confirmed that it did with 2% being used currently.
Gail informed the Committee that because of the fee financing was really only appropriate on items over $100K. Barry asked if items could be bundled for financing and Gail agreed to find out if this would be possible.
The Committee reviewed the spreadsheet and noted that the Towns Capital needs drop significantly for a few years and then climb again as major items require replacement. It was agreed that the CIP should consider recommending the use of Capital Reserves to better manage these peaks and troths.
Gary asked Committee Members to provide him with input on areas of missing data in the spreadsheet.
It was noted that the date for the next meeting is proposed for January 19,2015.
The meeting closed at 7.45pm
Respectfully submitted,
Barry West