Raymond Voter Information Project

Article 14

Capital Reserve Funds

Click HERE for direct link to the text of Town Warrant Article (revised at Town Deliberative Session Feb. 6, 2010).

A Capital Reserve Fund (CRF) is a savings account for the purchase of future items by town departments. This article raises and appropriates $266,900 for the previously established CRFs at a cost of .27 cents per thousand of tax valuation which is a reduction of $34,500 or .035 cents per thousand from last year.

A YES VOTE will add $266,900 to the CRFs.
A NO VOTE will not add money to the CRFs.

Pro:

• CRFs are needed to allow impact fees to be collected. (1)
• Prevents a spike in future taxes when purchasing high cost items becomes necessary.

Con:

• High cost items can be financed by borrowing at interest, with a voter approved bond, as they are needed.
• Tax cost: .27 cents per $1,000 of tax valuation. (2)

References:
1. Impact fees are one time fees assessed by the town on certain types of new development in order to compensate the town for increased demand on public facilities (currently schools and roads).
2. Raymond Finance Department

Please send questions/comments to editor@raymondvip.org

Return to Raymond VIP Town Warrant Information

Return to Issues