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Committee tweaks CapEx input form, keeps funding-mechanism field for administration review
Summary
Northborough's financial planning committee agreed to keep a 'funding mechanism' field on the CapEx input form for department heads and to supply administrator instructions and a 10-year plan as guidance; members emphasized clarity to avoid confusion.
The committee reviewed the proposed CapEx input form and debated whether department heads should be asked to indicate a funding source on initial submissions. Jason Little, the finance director, said the information helps the committee understand whether projects have grant or CPA support and suggested administrator guidance on how to complete the field.
"I think it's important for departments to to notify us that if they if they intend if they've applied for a grant or they they they know of alternative funding... that they indicate it somewhere," Little said, advocating to retain the box but clarify that administration will determine final funding. Members asked that the heading include the full phrase 'capital expenditure' (rather than 'CapEx') and requested a sample filled form be circulated to department heads so applicants can see how to complete entries legibly.
