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The group agreed on a clearer method for measuring capital financing: annual cash outlay, debt service, and capital stabilization contributions—not the total amount authorized for borrowing. It also agreed to recommend a five-year review cycle for financial policies and to add a provision directing rolled-off debt service into the capital stabilization fund when it is not replaced with new borrowing.
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These changes are intended to make Concord’s capital and debt rules easier to apply consistently. The existing targets call for capital financing of 7% to 8% of the budget, with no more than 5% for levy-limit debt service and 2% to 3% for capital outlay. The group did not adopt final policy amendments; staff will prepare revised language for review by the Finance Committee and Select Board.
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