ENDORSEMENT OF PARKING BENEFIT DISTRICT EXPENDITURES

To see if the Town will vote to endorse the Parking Benefit District operating and capital expenditures for Fiscal Year 2025 prepared by the Town Manager and the Select Board consistent with the Town Bylaws; or take any action related thereto. 

Inserted at the request of the Town Manager

Finance Committee VOTE: 18-0-1
Finance Committee COMMENT: Any deficit will be made up from the fund balance.

Select Board VOTE: Favorable Action (5-0)
Select Board COMMENT: The Board voted to recommend favorable action on this article following a presentation on this Article from the Town Manager, the first step in an annual process whereby these expenditures are then submitted for endorsement to the Finance Committee, Capital Planning Committee and ultimately, Town Meeting. The Town Manager informed the Board that the proposed revenues are budgeted conservatively at 85% of the prior fiscal year’s collections, and future expenditures will consist of ongoing operational costs as well as one-time projects and investments using accumulated fund balance. The Board approves these proposed expenditures and recommends Town Meeting endorsement. 

That the Town does hereby endorse the following expenditures from the Parking Benefits District Fund:

Projected Fiscal Year 2026 Meter Revenue $458,344
Offset to Parking Budget $12,800
Offset to Parking Enforcement Budget $117,454
Parking Meter Operations $206,260
Center and Plaza Improvements $382,500
Projected Fiscal Year 2026 Total Expenditures $719,014

Select Board Report

Finance Committee Report