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Committee adopts capital equipment planning policy; dissent raises oversight concerns
Summary
Budget & Finance Committee adopted a capital equipment planning and funding policy directing annual levy funding beginning fiscal 2026 and a rolling 10‑year replacement plan; the motion passed 2–1 after debate over oversight, useful-life assumptions and flexibility of set‑asides.
The Shorewood Budget & Finance Committee voted 2–1 to adopt a capital equipment planning and funding policy that establishes an annual levy funding mechanism beginning in fiscal year 2026 and requires a rolling 10‑year equipment replacement schedule aligned with the village’s long‑term financial goals.
The policy clarifies the village’s capital-equipment definition to match existing policy number 6 (items with a useful life of two or more years and a purchase cost of $5,000 or more) and states that funds may be raised through the annual levy unless the board approves borrowing. The motion directs staff to maintain a rolling 10‑year equipment replacement plan and to include the planned levy…
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