Comprehensive Financial Advisory Committee Capital Improvement Plan Subcommittee | Feb. 18, 2025

The meeting focuses on review and revision of the Capital Improvement Plan (CIP) for Fiscal Year 2026 (FY26).

Watch the meeting. AI generated summary below. Corrections welcome; please see contact page.

Key Points

• Quorum and Communication: The subcommittee established its quorum and discussed appropriate communication methods, emphasizing the importance of open meetings and avoiding email-based deliberations.
• CIP Document Review: The subcommittee members reviewed draft CIP documents from the DPW, the Department of Water and Sewer Management (DWMP), and the school committee. The focus was on updating numbers and addressing formatting inconsistencies.
• Data Presentation: A significant portion of the discussion centered on the best way to present financial data, including the use of tables versus graphs, the inclusion of historical data (multiple-year comparisons), and the need for clear narrative explanations to accompany the numbers.
• Funding Categories: The subcommittee discussed the organization of the CIP document, considering whether to group projects by funding source (General Funds, Enterprise Funds, CWMP) or by department (DPW, Schools, CWMP).
• CWMP (Capital Water Management Plan): The CWMP was a major focus, with discussion on its historical impact, the need for detailed analysis, and the frequency of future updates.
• Debt Exclusion: The subcommittee discussed the importance of proactively addressing debt exclusion in future communications and presentations to the Town Council.
• Next Steps: The subcommittee agreed on a timeline for completing the CIP document, including further review and formatting adjustments, and planned to submit a preliminary version to the full Financial Advisory Committee (CFAC) in the following weeks.

Highlights

• The meeting demonstrated a collaborative effort to refine the CIP document.
• The discussion highlighted the importance of clear, concise, and informative data presentation for effective communication with the Town Council.
• The subcommittee's focus on the CWMP reflects its significance in the town's long-term financial planning.