Natick Stabilization Funds
Data from FY21 Spring Town Meeting FinCom book
Fund Amounts as of 6-5-20
Capital Stabilization $5,035,707
General Stabilization $5,197,059
Operational Stabilization $4,146,552
FAR Stabilization $2,665,979
I & I Stabilization $769,485
1:1 Tech Stabilization $7,230
Total = $17.8 million
What are each of the funds?
Capital Stabilization Fund
maintained for the purpose of funding any capital related project, or pieces of capital equipment, or debt‐service payment related thereto
funded primarily through local option taxes though other funding sources as may be available from time to time are not precluded
maintained for the purpose of unforeseen and catastrophic emergencies
should, at a minimum, be at a level equal to 2% of revenues, with the target being 5% of revenues
Operational Stabilization Fund
maintained for the purpose of augmenting operations in case of sustained economic downturn and associated loss of revenues in support of operations
Sustained economic downturn will be any situation whereby State Aid and/or local receipts are significantly reduced from one-year to the next. ("Significantly" being defined as more than 5% of the total for the respective revenue category.)
target amount of money in the Operational Stabilization Fund should be sufficient to sustain operations through a three-year period of economic downturn.
This shall be equivalent to 10% of State Aid Revenues and 5% of Estimated Receipts cumulative for a three-year period.
Inflow & Infiltration Stabilization Fund
maintained for the purpose of funding repairs to and replacement of sewer lines to reduce inflow and infiltration into the Town’s sewer system. It can also be used to pay debt service related to this purpose.
Sewer connection fees will be the primary source of funding although other funding sources as may be available from time to time are not precluded
One-to-One Technology Stabilization Fund
maintained for the purpose of funding the one-to-one technology program for Natick High School Students
FAR Bonus Stabilization Fund
maintained for the purpose of the creation of additional open space and public parks
FAR Bonus monies are to be used for “Open Space Public Benefit Amenities” which are defined as either parks or excess pervious landscaping available for the active or passive recreation, or leisure use, by the public