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CAPITAL PLANNING COMMITTEE
The Capital Planning Committee shall research, study and advise the Board of Selectmen and Advisory Committee on short and long range capital purchases for the town.~ These capital expenditures are defined as valued at a minimum of $25,000 with a useful life of at least 5 years, and will include such items as large DPW trucks, fire trucks and ambulances, major infrastructure repairs and projects (roads, drainage, septic), major building renovations or alterations, new construction, and municipal land purchases.~ The committee shall conduct due diligence reviews of major building, land improvement, and or infrastructure capital requests in order to fulfill its review responsibility.
The committee shall be charged with facilitating the coordination between community objectives, capital needs and fiscal capacity.~ The committee will help the town to understand the tax impact of capital expenditures, and consider the relative need, timing and cost of each capital expenditure, including methods of financing, possible federal or state aid or grants, the cost of maintaining the facility or equipment, and the effect each capital expenditure may have on the financial condition of the town.~ The committee shall consider requests, make recommendations, and be
responsible for capital planning on a continuing basis. It shall produce an annual written report which outlines capital project priorities, estimates and projections of revenue, operating expenses, historic trends, tax rates, and debt which shall assist the selectmen and advisory committee in keeping the public informed about the town’s future anticipated needs and projects.
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