ABBOTT MEMORIAL LIBRARY:
This account was established to address major expense items related to upkeep of the Abbott Memorial Library and its grounds. Current plans are to resurface the basement floor at some point in the next three years. The current balance of this fund is approximately $9,900.
Total new contribution to reserve account: $ 0

ADMINISTRATION:
Total new tax request for capital improvements: $0

AIRPORT RESERVE FUND:
We continue to budget for upgrading the airport in accordance with our Airport Master Plan. Our long-range goal is to continue with an incremental upgrade of this facility. We anticipate major projects during the next five years which include raising the elevation of one approach and lengthening the runway. We have also been advised by the State Department of Transportation that our Airport Master Plan will require revision in the next two years. Although the State will provide the bulk of funding for this project, our local match will amount to approximately $15,000. We have not contributed to this account for two years. We currently have a balance of $22,400 in this account.
Total new contribution to reserve account: $ 5,000.

AMBULANCE EQUIPMENT:
This account is designed to accumulate funds for the acquisition of major equipment items for the Dexter Ambulance Service. Virtually the entire account was liquidated in FY2000 to help offset the purchase price of a new ambulance for the service. The goal is to accumulate funds at a rate which will allow the purchase of a new vehicle every five years. There is currently less than $100 available in the account.
Total new contribution to reserve account: $ 10,000.

ASSESSING:
This account is accruing for a future property revaluation and to offset the cost of having some of our maps digitized. There is currently approximately $9,400 available in the account. We plan to withdraw approximately $7,500 from the account in FY 2001 to undertake several assessment projects.
Total new contribution to reserve account: $3,000.

BUILDING IMPROVEMENTS:
This is the third year of our program to escalate the contribution of funds to address critical building maintenance and facility upgrade requirements. A summary of those capital projects is attached. There is currently approximately $26,700 available in the account.
Total new contribution to reserve account: $17,300

FIRE STATION DRIVEWAY:
It is anticipated that funds will be withdrawn from this account to accomplish a minor project to enhance parking and access at the fire station. There is approximately $3,000 currently available in the account. After drawdown of funds, this account will be closed.
Total new contribution to reserve account: $0

FIRE EQUIPMENT:
We are requesting $25,000 this year to set aside for the future purchase of a new fire truck. There is currently approximately $58,500 available in the account.
Total new contribution to reserve account: $20,000.

MUSEUM:
We established a Capital Reserve Account for the Dexter Historical Society three years ago with an initial contribution of $3,000. The primary purpose of the account is to set aside funds for major building repairs. We anticipate drawing down this account to a zero balance this year when we undertake a project to replace the Museum roof. We have requested that $3,000 be allocated in our general operating budget to match existing reserve account funds, bringing the project total to $12000 to replace the roof. There is currently approximately $9,000 available in the account.
Total new contribution to reserve account: $ 0

HIGHWAY EQUIPMENT/FACILITIES:
This account was established to allow for the planned annual contribution of funds to support major equipment purchases for the Public Works Department. We are currently planning to replace the Department's Front-End Loader this year and will be withdrawing approximately $65,000 for that purpose. There was no contribution made to this account in FY2000. The total amount currently available in this account is $138,500.
Total new contribution to reserve account: $10,000.

ORDINANCE CODIFICATION:
This account was created to comply with requirements in the Charter which mandate codification of all ordinances as part of the Town Code. The current account balance is approximately than $1,900.
Total new contribution to reserve account: $ 0

POLICE EQUIPMENT RESERVE:
We plan to purchase a new vehicle this year at a cost of approximately $25,000. It is planned to take the $16,000 from the account to help with the purchase of the vehicle. The account is currently valued at $16,000.
Total new contribution to reserve account: $5,000.

SIDEWALKS:
We don't intend to undertake any major repairs or construction of sidewalks this year. The current account value is approximately $22,000.
Total new contribution to reserve account: $ 0

STREET REPAIRS/PAVING:
This account was established to provide funding to support long term projections for paving Town streets and roads. The Public Works Director has undertaken a plan to accomplish major paving projects every two years to take advantage of better prices offered by contractors when larger volume projects are involved. No major paving is planned for FY 2001; however, we do plan to pave in FY 2002. The current value of the account is approximately $55,000.
Total new contribution to reserve account: $55,000.

INFORMATION MANAGEMENT CAPITAL RESERVE:
We created this capital reserve account in 1998 to set money aside annually for the future acquisition of computers, printers, software, copiers, communications systems, and data management systems. We anticipate conducting the second phase of the planned upgrade of our personal computers in FY2001 and acquisition of a automobile registration system and networking in FY2002. We also anticipate purchasing a new office copier in FY 2001. This account currently has a value of approximately $10,600.
Total new contribution to reserve account: $ 0

BRIDGE CONSTRUCTION CAPITAL RESERVE:
Funds are utilized to perform major maintenance, support local reconstruction efforts, and match state funds associated with construction grants. We anticipate withdrawing approximately $18,000 from the account this year to undertake a small bridge construction/repair project. This account currently has a value of approximately $18,000.
Total new contribution to reserve account: $9,000

FACILITIES EQUIPMENT CAPITAL RESERVE:
This is a reserve account intended to be used for the programmed purchase of equipment for Facilities Maintenance. We withdrew funds from the account in FY2000 to help purchase a vehicle for the department. There is currently a zero balance in this account.
Total new contribution to reserve account: $3,000

GOLF COURSE CAPITAL RESERVE:
This is a reserve account established to support long range capital improvement programs associated with the Dexter Municipal Golf Course. Intended programs include major equipment purchases and course improvements. The account is currently valued at $3,000.
Total new contribution to reserve account: $7,000

SUMMARY
Unfortunately, the demands on our capital reserves for the maintenance and improvement of our aging facilities has increased. Because long range planning is so critical to providing for the "high cost" needs of the community, the majority of funding we are seeking this year to support capital programs will be placed in reserve accounts for future needs that we have already identified. Most of the demand for these funds will be going to essential items such as boiler and roof replacement, ADA and safety compliance, and the replacement of aging equipment. Dexter has reached the point that the community can no longer afford to ignore undertaking many of the capital projects that are essential to the heath and welfare of the community.