Select Board backs capital-improvement policy draft that sets a target of ~5% of non-utility revenue

Select Board members on Oct. 28 approved the most recent draft of a capital-improvement planning (CIP) policy (dated Oct. 20, 2025) and authorized the town administrator to confer with the Finance Commission and the School Committee as required by the town's financial policy. The draft retains much of the earlier language but adds a recommended planning target and an updated definition of a capital project.

Key changes in the October draft include a suggested planning guidance that cites a target of approximately 5% of non-utility annual revenue as a reference for annual capital planning, a common municipal practice to help set expectations and prioritize projects. The draft also adopts a definition of capital projects as assets with a useful life of at least five years and a unit cost on the order of $30,000. Select Board members noted that dollar thresholds can be revisited over time to reflect inflation and differing department needs.

The board discussed that a $30,000 unit threshold might be significant for small-town offices (the clerk's office or other smaller departments) even if it is modest for public works, and members agreed the policy should not block necessary single-year items that need separate warrant consideration. The motion passed unanimously to approve the October draft and seek approvals from the Finance Commission and School Committee, as required by town financial policy.