Budget, Tiverton

Tiverton Financial Hearing

TIVERTON FINANCIAL TOWN HEARING THURSDAY, MAY 4, 2017

MEETING NOTIFICATION

In accordance with the Open Meeting Law, Section 42-46-6, notice is hereby given that the Tiverton Financial Town Hearing will be held on Thursday, May 4, 2017 at 7:00 p.m. This Meeting will be held at Tiverton Middle School Cafetorium, 10 Quintal Drive, Tiverton, Rhode Island.

AGENDA

– Pledge of Allegiance
– Introduce Speakers
– Brief Discussion on Procedure
– Budget Proposals, Ballot, and Reports

– Presentation of Budget Committee Budget Proposal – Presentation of Budget Committee Resolutions

  1. COUNCIL RESOLUTIONS –
  2. PETITIONER’S RESOLUTION – DONNA J. COOK – Presentation of Resolution

AUDIENCE QUESTIONS AND COMMENTS TOWN CLERK: ADJOURNMENT

BUDGET PROPOSALS AND RESOLUTIONS AS APPEARS ON MAY 20, 2017 BALLOT ATTACHED

NOTE: Individuals requesting interpreter services for the hearing impaired must contact the Town Clerk’s Office at 343 Highland Road or call (401) 625-6704 forty-eight (48) hours in advance of the meeting date.

TOWN CLERK:

1. BUDGET COMMITTEE:

Presentation of Council Resolutions

1.BUDGET COMMITTEE’S BUDGET PROPOSAL

The Town Shall:
Appropriate a sum of $29,893,257 for School Department General Operating & Capital Expenses; and,
Appropriate a sum of $19,492,323 for Municipal Operations & Capital Expenses; and, Levy a Property Tax not to exceed $38,366,653 which is an increase to the prior year’s certified Net Tax Levy of 0.5% and includes a Motor Vehicle Tax Levy not to exceed $1,647,900 and a Real & Tangible Property Tax levy not to exceed $36,718,753 as recommended by the Budget Committee.

Budget Committee Resolutions

  1. RESOLVED, that the expense and revenue budgets, both itemized by account, that support the proposal for appropriations and tax levies which receives a majority of votes cast by the Electors at this Financial Town Referendum shall be adopted as the Tiverton General Fund Budget for the fiscal year ending June 30, 2018.
  2. RESOLVED, that all Municipal Capital accounts be restricted for their intended purpose and that no transfers are authorized out of those accounts.
  3. RESOLVED, that if the Electors at this Financial Town Referendum appropriate a sum for Municipal Operations & Capital Expenses that includes an amount to fund the Revaluation account, said amount shall be placed in the restricted Revaluation reserve account, to be used solely for the purpose of funding property revaluations.
  4. RESOLVED, that if the Electors at this Financial Town Referendum appropriate a sum for Municipal Operations & Capital Expenses that includes an amount to fund the Elections account, said amount shall be placed in the restricted Elections reserve account, to be used solely for the purposes of funding future elections and Financial Town Referendum Run-offs if necessary.
  5. RESOLVED, that Account 5540-6794 Paving/Road Repair shall be a restricted account to be used solely for the purpose of paving/road repair.
  6. RESOLVED, that Account 5540-6795 Drainage Account shall be a restricted account to be used solely for the purpose of paving/road repair.
  7. RESOLVED, that any unencumbered funds as of June 30, 2018, will be returned to the General Fund, with the exception of Public Works Department Operations unencumbered funds that will be placed in the restricted paving/road repair account 5540-6794 and/or restricted drainage account 5540-6795.

8. RESOLVED, that the Town, once all provisions of the Charter and accounting requirements are met, shall transfer out of the unexpended Municipal Expense appropriation determined as of June 30 2018 twenty-five percent (25%) to the restricted paving/road repair account number 5540- 6794, and twenty-five percent (25%) to a new restricted capital 0980 expenditure account.

Town Council Resolutions

  1. RESOLVED, that with regard to the sale of any one or group of parcels within the Tiverton Industrial Park, up to and including the entire Industrial Park, no less than 25% of the proceeds from each sale shall be set aside in a restricted account used solely for the purpose of developing the Park, including but not limited to providing a Town financial match for federal or State grants, development of infrastructure such ass utilities or roads, or the professional engineering costs associated with such activities.
  2. RESOLVED, that the net proceeds from the Sale of the Essex Library shall be applied to Debt Service of the Tiverton Library.

Elector Petition for Ballot Question/ Resolutions

PETITIONER RESOLUTION

RESOLVED, that during the Fiscal Year ending 2018 the Town Council is hereby authorized and directed to sell the building at 238 Highland Road and all related property formerly utilized as the Essex Library at fair market value.

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