As we ready for Town Meeting on May 16, 2023, the Town will be presenting information every day on different warrant articles.
Article 29: Transfer to Capital Stabilization
The Town is requesting to transfer $350,000 into the Town’s Capital Stabilization Account. The Capital Stabilization account is the town’s savings account to purchase capital items. The purpose of this stabilization fund is to accumulate money in order to purchase larger capital items without relying on debt. To appropriate from the Town’s Stabilization account requires a 2/3rd vote of Town Meeting. Currently we are saving money in this account to use to fund the design of projects for Facilities Master Plan 2. At the end of Town Meeting, the Town will have close to $6 million dollars in this account.
To learn more about Stabilization funds visit: https://www.mass.gov/files/documents/2017/09/11/igr17-20.pdf