Capital Planning Committee

Section 2.15 Capital Planning Committee

   2.15.1 There is hereby established a committee to be known as the Capital Planning 

              Committee Such Committee shall be composed of seven (7) members as 

              follows, Town Treasurer, Town Accountant, Executive Secretary or Town

              Administrator, one (1) Board of Selectmen member, one (1) Finance Board

              member, one (1) Planning Board member, one (1) citizen at large.

                                                                                  Amended May 31, 2016

                2.15.2 The member at large to be appointed by the Board of Selectmen.

                                                                                                    Amended May 31, 2016

                2.15.3 The Committee shall study proposed capital projects and improvements

                     involving major tangible assets and projects which are (1) purchased or   

                     undertaken at intervals of not less than 3 years; (2) have a useful life of at

                     least 5 years and; (3) cost over Fifty Thousand dollars ($50,000,00). 

                     Requests of less than these parameters will be considered at the committee's

                     discretion All officers, boards, and committees shall give to the Capital

                     Planning Committee, by a date and on a form prepared by it, information

                     concerning all projects anticipated by them as needing town meeting action

                     during the ensuing 5 years The committee shall consider the relative need,

                     timing and cost of these expenditures and the effects each will have on the

                     financial position of the Town

                2.15.4 The Committee shall undertake to prepare a Capital Improvements Plan

                     (CIP) which forecasts the Town's capital needs expenditures and           

                     funding mechanisms over the ensuing 5 year periods The CIP shall be

                     updated on a yearly basis by the committee

                 2.15.5 The Committee shall present its recommendations as to items for the

               ensuing fiscal year to the Finance Board for review and inclusion in the

               budget to be presented to the town These recommendations shall include

               a description of items to be obtained and a manner of funding these  

               purchases

                 2.15.6 The CIP and the Committee's recommended annual capital budget shall be

               published and made available in as manner consistent with the distribution 

               of the Finance Board report

                2.15.7 The Committee may under‑take such investigations and hold such hearings as it may 

                    deem necessary

                2.15.8 After its adoption, the Capital Budget shall permit expenditure for assets and

                     projects included therein, of sums from departmental budgets in accordance with

                     expenditure policies and procedures of the town

                2.15.9 A public hearing shall be held on the CIP Budget on the same day as the Finance

                     Board holds their public hearing, no later than April 21^st of each year

Adopted February 19, 1998