The discussion on the capital budget was particularly comprehensive, focusing on the allocation of funds for diverse needs within the town. The $1.4 million designated for the replacement of water meters prompted questions regarding the projected benefits. It was explained that the new real-time metering system would be instrumental in identifying leaks promptly, thereby preventing water wastage and potentially leading to cost savings. Concerns raised about the liability of water meter installations on private properties referenced a past incident, leading to the suggestion of a separate article for water meter bonding. This would allow for a community vote on the matter, and the idea of a shorter-term bond was also considered.

Amidst the capital budget discussions, the committee cast a vote on the allocation of $10,349,000. There was initial confusion over whether certain items had been voted on, leading to a need for clarification and a subsequent re-vote to ensure the accuracy of the committee’s decisions. The committee also addressed the operational budget for the launch service, approving $9,500 for fiscal year 24, $41,000 for fiscal year 25, and $125,000 as a capital expense.

The meeting delved into the possibility of a tax rate increase, with members debating whether to implement the full 2.5% increase or to settle for a lower rate. The discussion extended to the utilization of reserves and the philosophical stance on using such funds for operational expenses versus maintaining consistency with previous budgeting practices. Ultimately, the decision was made to lower the tax rate increase to 2%, and additional revenue considerations were factored into the allocation of funds.

Another item on the agenda was the allocation of funds for the historic building inventory, with a request for $15,000 to match a grant. The committee weighed the options of sourcing these funds from the Community Preservation Committee (CPC) or the Finance Committee reserve. Furthermore, the committee reviewed the proposal for sound abatement at the pickleball court and the library building expansion study, which required a building assessment study before applying for a grant.

The meeting also examined the approval of a $660,000 expenditure for capital exclusions related to feasibility studies, which passed despite some dissent. The committee approved the final payment for the turf field and endorsed the CPC projects. Discussions ensued concerning a supplemental legal budget of $100,000 for fiscal year 24, and whether it should be sourced from the reserve fund. Additionally, the committee recommended the approval of the revolving funds for the parks and recreation department and the health department.

Finally, the meeting addressed administrative tasks, including the approval of minutes from a previous meeting, setting the date for the next meeting to finalize warrant articles and the finance committee report, and the allocation of responsibilities for the report’s completion. There was a consensus on the need for a more concise and focused finance committee report.