January 6, 2023
To: Finance Committee
From: Jamie Hellen, Town Administrator
Re: FY23 Capital Plan Proposal
Please ﬁnd the attached Capital Plan for FY23, as well as the ﬁve-year capital plan from each department as required by the Town Charter. Included with this memo is a sheet with the 20-year free cash history. The average is $3.26 million over the past ten years and $2.75 Million over the past 20 years. FY22 an unusually large year in excess, unspent revenue due to the continued adaptation around symptoms from the pandemic.
From the certiﬁed total, there are several policy commitments that eat into the total right oﬀ the bat, most notably contributions to stabilization accounts (per town policy) as well as the usual recommendation from staﬀ to hold revenue for annual snow and ice removal. See narrative below for more speciﬁcs.
These recommendations are Round 1 of the FY23 Capital program. Once we know the ﬁnal totals of the winter costs for snow removal, if there are remaining funds, staﬀ will propose a “Round 2” Capital later in April. Traditionally we have used this excess to fund road and infrastructure projects.
The following is an overview of certiﬁed free cash status for FY23:
|FY23 Capital Plan Proposal|
a. Town Administrator FY23 Capital recommendations memo - https://www.franklinma.gov/sites/g/files/vyhlif6896/f/uploads/capital_memo.pdf
b. FY23 Department Summary Requests & Capital Plans - https://www.franklinma.gov/sites/g/files/vyhlif6896/f/uploads/capital_requests_5yr_plan_sheets.pdf