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Board approves a slate of funding requests, ARPA allocations and sets tax-deferral rate
Summary
At its Nov. 12 meeting the Board of Finance approved minutes, returned small CIP residuals to the CN Master account, amended and approved a garage restoration request (approved at $31,597), approved police 911 recorder funding, ARPA Round 22 allocations totaling $88,200, swept remaining ARPA balances to the Madison Hose project, approved a $25,000 planning-reserve payment for an IRA tax-credit consultant for a geothermal project and set the tax-deferral interest rate at 1.55%.
The Board of Finance on Nov. 12 handled a series of routine and substantive fiscal actions, approving a package of funding requests and program decisions by voice vote.
Minutes and small adjustments The board approved the Oct. 23 minutes by voice vote. Staff explained that $8,452 in project residuals will be returned to the CIP CN Master account after projects came in under budget; that motion carried.
Town campus maintenance garage restoration Members discussed a Town campus maintenance/garage restoration project with a total quoted amount near $229,000 and a budgeted contribution that left a shortfall of roughly $31,000. After debate about contingency levels (a proposed $50,000 cap vs. a lower contingency more in line with a 10% practice), the board amended the request and approved a supplemental allocation of $31,597 to cover the shortfall and project contingency. Staff said the project uses a state contract for the construction quote.
Madison Police voice-recording system The board approved $18,658.60 from the Emergency Services Communications and Equipment fund to replace a failing 911 voice-recording system. Staff noted the existing recorder was expected to last about 15 years but began failing at roughly 10½ years; the system preserves 911 call recordings and supports retention obligations.
ARPA allocations and balances The board approved Round 22 ARPA allocations totaling $88,200 (packet-listed requests included funds for downtown benches, a civic choir/trailer, Wellington solar panels, and a renovation project at ABC House). Separately, the board authorized sweeping any remaining or future small ARPA project balances (as of Dec. 1, 2024, and later) into the Madison Hose building addition project so funds are not lost before the program deadline; staff said the auditor approved this blanket approach.
IRA tax-credit consultant for geothermal project The board approved releasing $25,000 from a planning reserve to pay a consultant to prepare an IRA tax-credit application for a Town campus geothermal project. Staff said about $800,000 of project costs could be recoverable through the federal program but that the application process is complex and requires specialist support; the consultant payment is intended to improve the town’s chance of reclaiming those funds.
Schedules and tax-deferral rate The board set the annual interest rate for the town tax-deferral program at 1.55% and approved the 2025 Board of Finance meeting schedule and the 2025 budget workshop schedule.
Votes and recording Most approvals were taken by voice vote and the transcript notes motions were seconded and carried; the record does not include consistent roll-call tallies or named movers/seconders for these items.
