It is very difficult to budget projects up to two years in advance. Labor and material costs fluctuate with market conditions and the overall economy. Prices can change dramatically on short notice and such variables need to be planned for. Therefore, the budget numbers are just that. They are what we believe to be the worst case scenario and we hope to do much better when we actually go out to bid on the listed projects
If the transfer of funds between projects is necessary, it will be done through a process approved by the Board of Selectman and the Board of Finance. Our goal is to complete all projects within or less than the appropriated funds. Having said that, there are occasions when unforeseen problems occur which need to be addressed. No projects will be added to this list if there are unexpended funds.
In the case where grants have been approved to offset a project, the Town is obligated to appropriate the entire amount but will use the grant revenue to offset any necessary borrowing. Therefore, you are voting on the entire budget for the Pleasant Valley Bridge Project estimated at 1.5 Million plus but we will receive approximately $780,000 (50%)in grant monies to offset that cost. For the other two bridge project (#4610 and #04119) you are approving engineering cost of approximately $687,000 but will be receiving grant monies to offset that expenditure of approximately $548,000 (80%)
The Project Summary Sheet list all ten projects for which funding is being requested. It also includes a future appropriations request that will be presented in several different packages over the next year depending upon project scheduling. The summary sheet accounts for all know projects at this time. The Town will need to continue to invest in its infrastructure in the future.