Month: May 2024
Town Meeting Warrant Article of the Day | Article 19: Transfer to Capital Stabilization
Warrant Article of the Day
As we ready for Town Meeting on May 14, 2024, the Town will be presenting information every day on different warrant articles.
Article 19: 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 special purpose Stabilization account requires a majority 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 $8.5 million dollars in this account.
Town Meeting Warrant Article of the Day | Article 18: Transfer to Stabilization
Warrant Article of the Day
As we ready for Town Meeting on May 14, 2024, the Town will be presenting information every day on different warrant articles.
Article 18: Transfer to Stabilization
The Town is requesting to transfer $80,255 to the Stabilization Account. The Stabilization Account is the Town’s savings account. The Town saves money there to be used in emergencies. Some like to refer to the account as the rainy day fund. The Town has financial policies in place that advise the town to maintain 5% of General Fund revenues in the Stabilization Account. After this year’s transfer, the Town will have over $6.2 million in the fund. To appropriate from the Town’s Stabilization account requires a 2/3rd vote of Town Meeting.
To learn more about Stabilization Funds visit: https://www.mass.gov/files/documents/2017/09/11/igr17-20.pdf
Town Meeting Warrant Article of the Day | Article 16: Transfer of $750,000 from Special Education Stabilization Fund to FY24 General Fund
Warrant Article of the Day
As we ready for Town Meeting on May 14, 2024, the Town will be presenting information every day on different warrant articles.
Article 16: Transfer of $750,000 from Special Education Stabilization Fund to FY24
General Fund
Article 16 is a transfer of $750,000 from Special Education Stabilization Fund to the FY24 general fund. These funds are being used as a revenue source to offset the school’s FY24 budget deficit. The Special Education Stabilization Fund has historically been used to offset unanticipated special education costs, but in recent years the Schools have more appropriately been using the Finance Committee reserve in order to avoid using one time revenues to offset recurring expenses. A majority vote is required to transfer funds from special purpose stabilization funds.
To learn more about Stabilization Funds visit: https://www.mass.gov/files/documents/2017/09/11/igr17-20.pdf
Select Board meeting agenda 5/6/24
Festival Committee, May 7, 2024
GLTS District School Committee Meeting, May 7, 2024
Town Meeting Remote Questions 2024
Can’t make Town Meeting on Tuesday, May 14th? Town Moderator Mark DiSalvo continues the innovation of allowing remote participation for citizens who are unable to attend but hope to contribute to the judgments made. Simply use the form below or text your Town Meeting questions to (978) 216–3774.
· You must be a current registered voter in North Andover.
· Only a question may be submitted. Comments, amendments or motions are not allowed.
· You must submit a verifiable phone number where your identity and question may be confirmed.
· This form is only for people who will not be attending Town Meeting. If you are at Town Meeting, you will be required to ask the question in person.
· Questions may be edited for clarity
