[Amended 6-6-2011 ATM by Art. 44]
The Committee shall study proposed capital projects
and improvements involving major nonrecurring tangible assets and
projects which: 1) are purchased or undertaken at intervals of not
less than five years; 2) have a useful life of at least five years;
and 3) cost over $25,000. All officers, boards, committees, including
the Selectmen and the School Committee, each year give to the Committee,
on forms prepared by it, information concerning all anticipated projects
requiring Town Meeting action during the ensuing six years. The Committee
shall consider the relative need, impact, timing and cost of these
expenditures and the effect each will have on the financial position
of the Town.
The Committee shall prepare an annual report
recommending a Capital Improvement Budget for the next fiscal year,
and a Capital Improvement Program including recommended capital improvements
for the following five fiscal years. The report shall be submitted
to the Finance Committee for its consideration. The Finance Committee
shall submit its approved Capital Budget to the Annual Town Meeting
for adoption by the Town.
The Committee's report shall be published and
distributed along with the Finance Committee recommendation. The Committee
shall deposit its original report with the Town Clerk.