On Wednesday night, town electors will have the chance to decide whether the town should use its reserves to fund $400,000 in pool improvements and $275,000 toward the package purchase of two fire engines.
For the pool, the funds would provide funding for a new concrete deck, drainage improvements, partial shell repair and modernized, above-ground mechanical systems. Read more about it in this earlier story.
With the fire engines, the town of Canton Volunteer Fire and EMS Department recently advocated replacing two over the next year, rather than the scheduled one. Department officials said it would save some money in replacement and maintenance costs and get the town back on track with its replacement plan. The entire plan is a little less than $900,000 but the town already has the rest set aside in a capital fund for apparatus replacement. Read more about the plan in this earlier story.
The boards of selectmen and finance have already approved the plans. If voters concur, the money would come from the town's undesignated fund balance, commonly known as reserves, and not directly impact taxes.
Bond attorneys and auditors recommend having 10 to 15 percent of a town's annual budget expenditures in the fund. Late last week, finance officer Amy O'Toole estimated the current balance at $4,948,354, about 14 percent.
At a recent meeting, first selectman Richard Barlow said that over the past several years the Board of Selectmen has returned money to the fund by spending less than its approved budget. In the last fiscal year, that amount was approximately $500,000, he said.
On Wednesday night, registered voters and those over 18 who have at least $1,000 in assessed property taxes can vote on the proposals.
The meeting will take place in the Community Center at 7 p.m. on Dec. 12, 2012. Residents will also decide whether the town should accept a $500,000 grant for improvements at the 21 Dowd Ave. housing complex for seniors and the disabled. See the legal notice here.
After the town meeting, selectmen will hold a public hearing on a proposed amendment to the property tax relief program. That agenda can be found here. The proposed amended ordinance can be read at this link.
Following that, the Board of Selectmen will hold its regular meeting.
