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Select Board hears proposal to build reserves for vehicle and facility replacement
Summary
Select Board member Wayne Luce proposed annual reserve contributions for municipal buildings, sand shed, and vehicle replacements, estimating about $128.11 per taxpayer; the board discussed the idea but did not vote on it.
On July 22, Select Board member Wayne Luce presented a proposal to set aside annual reserve funds aimed at avoiding future bonds or loans for capital replacements.
Luce outlined suggested annual contributions: $5,000 for municipal buildings, $5,000 for HCFS, $5,000 for SHFS, $3,000 for a sand shed, $40,000 for fire-truck replacement and $60,000 for plow-truck replacement. He characterized the combined plan as reducing long-term borrowing and estimated an approximate cost of $128.11 per taxpayer, contrasting it with an approximate figure he cited for the current school budget of $4,444.44 per taxpayer.
The item was presented as a proposal for consideration; the board did not take formal action to adopt a reserve schedule during the meeting. Board members may request additional analysis or place the proposal on a future agenda for formal consideration.
