[HISTORY: Adopted by the Town of Lancaster 5-3-2004 ATM by Art. 15. Amendments noted where applicable.]
The Finance Committee and the Select Board, or its designee, shall develop annually a Capital Improvement Program ("CIP") for the Town. An Article setting forth the CIP shall be included annually in the Annual Town Meeting Warrant for adoption by the Town. The CIP set forth in the Warrant shall propose capital expenditures in an amount equal to or greater than $10,000 for the fiscal year. For the purposes of this bylaw, capital projects shall include any projects relating to the purchase of equipment and or machinery or the construction, reconstruction, repair, or alteration of a public building or public work as those terms are defined by applicable general law, and the acquisition of real property.
To qualify for the CIP, capital projects and acquisitions must meet all of the following criteria:
Not later than January 30 of each year, officers, boards, commissions and committees shall transmit to the Finance Committee written request for capital projects and acquisitions anticipated for the ensuing five-year period. The Finance Committee shall consider the relative need, timing, cost and other impacts of the requested expenditures, including the effect each will have on the financial position of the Town. The Finance Committee shall consider no appropriation for a capital project or acquisition unless it is included in the CIP.
Departmental operating budget expenditures for architectural, engineering, planning and other professional services associated with a capital project or acquisition shall be recognized and authorized in the CIP. Further, except as authorized by vote of Town Meeting or to comply with any General or Special Law or grant in aid requirement, no expenditure shall be made for capital projects or acquisitions which are not included in the program nor for preliminary planning for capital projects or acquisitions planned to be commenced at a time more than the five years following.
The Finance Committee shall publish an annual report detailing its recommendations relative to the Capital Improvement Program and transmit a copy to the Town Clerk.