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Board approves $58,735.27 LoCIP supplemental appropriation for capital projects
Summary
The Board unanimously approved a supplemental appropriation of $58,735.27 from the Local Capital Improvement Program (LoCIP) fund to authorize spending of on-hand LoCIP balances, including approximately $2,176 carried from a prior year.
Town Manager Tom DiStasio explained that LoCIP funds received in excess of original budgeted amounts — plus a small carryforward — require a supplemental appropriation before the funds can be spent. He said the appropriation request of $58,735.27 includes about $2,176 left over from a previous fiscal year and that the town’s practice is to use LoCIP for road improvement projects.
On motion by Kathleen Johnson, seconded by Michael Szekeres, the Board voted 7-0-0 to amend the FY25/26 budget by increasing LoCIP intergovernmental revenue and authorizing an equal increase to capital project appropriations.
