Finance Committee (virtual and public comments)

Finance Committee Meeting 12/17/24 3-5PM. Join via Zoom. Ask the Finance Committee to consider the ongoing needs of our schools in their selection of a funding model for the four planned major capital projects in town.

In 2025, the Amherst Finance Committee and Amherst Town Council will continue discussing and eventually vote on the Funding Model for the four major capital projects (Library, Elementary School, Department of Public Works, Fire Station). The funding models vary in terms of project start dates and how much of the funding comes from borrowing versus town reserves. All of the models, though, will result in constrained operating budgets as well as severely limit the funds available for ongoing capital needs (like repairs to buildings, the purchase of school buses, replacement of technology). Needs of this type are currently paid for via the annual Capital Improvement Plan funded by 10.5% of our tax dollars which are sequestered for this purpose. The funding models the town is considering redirect much of this money toward financing the four capital projects. We should ask the Finance Committee and Town Council to explain how existing needs are going to be met in each of the four proposed scenarios. Currently, we already have trouble meeting ongoing capital needs of our schools and other town buildings, as well as keeping up with the purchase of capital equipment. How will these needs be met when even less money is available? Amherst Finance Committee will meet Tuesday 12/17/24 3-5PM via Zoom to discuss. Town Council will likely take up the discussion in January.

Virtual Meeting https://amherstma.zoom.us/j/81925770072
Note: There will be no in-person public access at this meeting. Members of the public may attend virtually via
Zoom https://amherstma.zoom.us/j/81925770072 or by phone by calling phone (646) 931 3860 enter webinar ID
81925770072