Selectman chair Barry recuses.
ARTICLE 24 – APPROPRIATE TO POST EMPLOYMENT INSURANCE LIABILITY FUND To see if the Town will vote to appropriate a sum of money to the Town of Lexington Post Retirement
Insurance Liability Fund, as established by Chapter 317 of the Acts of 2002; determine whether the money
shall be provided by the tax levy, by transfer from available funds, including enterprise funds, or by any
combination of these methods; or act in any other manner in relation thereto.
(Inserted by the Board of Selectmen)
This Article will allow the Town to continue to fund its liability for postemployment benefits for Town of Lexington retirees. Beginning with the FY07 audit, the Town was required to disclose this liability. The Town has special legislation establishing a trust fund for this purpose. This special legislation was approved in 2002.
MOTION: That $1,842,895 be appropriated to the Town of Lexington Post Employment Insurance
Liability Fund, as established by Chapter 317 of the Acts of 2002, and that to meet this
appropriation $4,085 be appropriated from Wastewater Fund receipts, $9,089 be
appropriated from Water Fund receipts, $750,000 be raised in the tax levy, and
$1,079,721 be appropriated from the General Fund unreserved fund balances.
RECOMMENDATIONS
BOS: 4-0 (Barry recused)
AC: Unanimous
CEC: No position. Please see p. 59 of our report
VOTE OF TOWN MEETING (majority)
YES: 128
NO: 2
ABSTAIN: 4
MOTION CARRIES