General Government - Town of Meredith

General Government
Capital Improvements Program continued...
General Government
Debt Service:
Recommendation: Subject to the availability of funds, prepay the remaining 2014 payment of $51,500 of the
Open Space/Conservation Bond in 2013.
Rationale: At present, there are two years left on this bond obligation. Retirement of this debt obligation
would be accelerated by one year providing additional program flexibility starting in 2014. Prepayment of debt
for future years would be dependent on then-current needs and conditions.
Waterfront Infrastructure:
Recommendation: No funding is recommended at this time.
Rationale: The Waterfront Infrastructure Expendable Trust Fund balance as of 12/31/12 is estimated at
$94,970. The Town Manager has advised that he anticipates future capital needs in this area. An assessment of
our waterfront infrastructure has not yet been submitted for consideration.
Water and Sewer Department
Water System Improvements:
Recommendation: No funding is recommended at this time.
Rationale: The Water System Improvements Expendable Trust Fund balance as of 12/31/12 is estimated at
$232,745. Additionally the utility anticipates accruing rate-based capital reserves beginning in 2014. For
informational purposes the Water Department identified projects that it hopes to fund via the utility’s capital
reserves and/or grants: (1) replacement of mains in Water Street and Bayshore Drive; and (2) replacement/
upgrade of the generator at the treatment plant.
Sewer System Improvements:
Recommendation: No funding is recommended at this time.
Rationale: The sewer utility currently has $456,969 in Sewer Access Fees that are available for repairs and
major improvements. The sewer rate structure will begin to accrue additional funds for capital improvements.
The Sewer Department is currently working on a condition and criticality assessment of our sewer collection
system. This assessment will lead to future recommendations on a priority basis.
Public Library
Recommendation: No funding is recommended at this time.
Rationale: The Board of Library Trustees is working on building improvements and space needs. No project
specific information has been submitted to the Committee at this time. It is anticipated that the Board of
Trustees will provide an update in 2013.
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Town of Meredith