Energy Stabilization Fund

The Energy Committee sponsored two articles approved by voters at the 2019 Annual Town Meeting:

ENERGY COMMITTEE SPECIAL PURPOSE STABILIZATION FUND

ARTICLE 31: To see if the Town will vote pursuant to the provisions of Massachusetts General Law Chapter 40, Section 5B, for the purpose of creating an Energy Committee Special Purpose Stabilization Fund to be used for the payment of project costs associated with action taken by the Town to meet the goals established by the Commonwealth’s Green Community program; or take any action relative thereto. (Energy Committee) Finance Committee recommends this action, 3-0.

Summary: The Energy Committee is seeking to create a fund that will function as a savings account to pay for future projects designed to improve the Town’s energy efficiency or conserve water in accordance with the goals established by the Massachusetts Green Community Program. Before Projects funded by money in the stabilization fund could begin, they would need to be approved by a Town Meeting vote.

FUNDING ENERGY COMMITTEE SPECIAL PURPOSE STABILIZATION FUND

ARTICLE 32: To see if the Town will vote to raise and appropriate, transfer from available funds, borrow, or otherwise provide four thousand eighty seven dollars ($4,087) to be placed into the Energy Committee Special Purpose Stabilization Fund; or take any action relative thereto. (Energy Committee) Finance Committee recommends $4,087 from Free Cash into the Energy Committee Special Purpose Stabilization Fund, 3-0.

Summary: At the 2018 Annual Town Meeting, we elected to pass over Article 29 which was designed to collect funds raised by an adder to the Municipal Energy Aggregation program. Because a fund was not established at that meeting, the money from the aggregation program was placed into the Town’s General Fund. This article seeks to move the money that was already collected in 2018 out of the General Fund and into the Special Purpose Stabilization Fund established in Article 31 of this Meeting. There is no cost associated to taxpayers since this money is paid by participants in the Municipal Energy Aggregation program who take advantage of a lower rate than National Grid’s standard offer.