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Special we meeting warrant cradles be sal to to rose or meng was to dad all alicle to the
November 17h Town Meeting Warrant. The amount of $68,097.59 was received from the Highfield Village Allocation
Agreement and it would be in the general fund until the fiscal year is closed out. Any money left after expenses goes
into Retained Earnings and can be moved over to the Stabilization Fund by Town Meeting vote. Barb explained the
reasoning for moving it into the Stabilization Fund at this Special Town Meeting is: 1) to allow it to earn interest for
the Sewer Enterprise fund by being in our Stabilization fund and 2) to be able to not have to pull from Retained
Earnings for the FY22 budget, but have $20,000 that we have to pay to Fitchburg for the John Fitch Highway project
specifically come by transfer from the Stabilization fund. Dave asked if Barb talked to Fitchburg about whether they
would want payments now. Barb replied she did and that they had said that they would take the $68K and we would
not have to pay for 2 more years, but then they'd get to hold on to our $68,000. Since Fitchburg could not give us a
break, Barb said it would be better to put it in the Stabilization Fund. Barb added that they only have the Highfield
Village transfer for this Town Meeting because there was not a surplus in FY20 after expenses were paid for either
Sewer Bank I/l or Reserve Capacity otherwise. She will update the Commission on the YTD FY21 budget at the 9/29
meeting. Dave asked for a motion to approve the article.
Motion: Mike D.
Second: Brett R.
To approve the article transferring the Highfield Village money received in early July to the Reserve Capacity
Stabilization Fund, to be used in future budget years toward the John Fitch Highway project payment of
approximately $20,000.
Vote: Unanimous - Mike-aye, Brett-aye, and Dave-aye.
Public Comment-none
UPCOMING SCHEDULED SEWER COMMISSION ACTIVITIES:
September 29,2020 @ 5pm - Regular Meeting, Remote Participation
October 13, 2020 @ 5pm - Regular Meeting, Remote Participation
Dave wished everyone a great weekend and the meeting ended at 5:14pm.
Respectively submitted,
You finding,
Handouts:
Draft Sewer Reserve Capacity Stabilization Article for Special Town Meeting on 11/17/20