Article 9 – Departmental Revolving Funds

Article 9 is now open: ARTICLE 9 — ESTABLISH AND CONTINUE DEPARTMENTAL REVOLVING FUNDS To see if the Town will vote, pursuant to Chapter 44, Sections 53E½ and of the Massachusetts GeneralLaws and Chapter 110 of the Code of the Town of Lexington, to continue existing revolving funds; to establish new revolving funds; to determine whether the maximum amounts that may be expended from such new and existing revolving fund accounts in FY2019 shall be the following amounts or any other amounts; or act in any other manner in relation thereto. (Inserted by the Board of Selectmen)

A revolving fund established under the provisions of Massachusetts General Laws Chapter 44, Section 53E½ must be approved annually by vote of the Town Meeting. The Funds are credited with the receipts received in connection with the programs supported by such funds, and expenditures may be made from the revolving fund without further appropriation.

MOTION: That the Town authorize the following revolving fund limits for certain Town departments pursuant to the provisions of M.G.L. Chapter 44, Section 53E ½ for Fiscal Year 2019 beginning July 1, 2018 as follows:

• School Bus Transportation - $1,150,000
• Building Rental Revolving Fund - $535,000
• DPW Burial Containers - $50,000
• Lexington Tree Fund - $45,000
• DPW Compost Operations - $810,000
• Minuteman Household Hazardous Waste Program - $190,000
• Regional Cache –Hartwell Avenue - $10,000
• Senior Services Program - $75,000
• Health Programs - $45,000
• Tourism/Liberty Ride - $210,000
• Visitors Center - $212,000

RECOMMENDATIONS
BOS: Unanimous
AC: Unanimous
SC: Unanimous

VOTE OF TOWN MEETING (simple majority)
YES: 140
NO: 0
ABSTAIN: 2
MOTION PASSES