Here’s a link to the Article as it will appear on the Ballot:
What it means: This Article seeks to remove interest earned on the Cemetery Burial Trust Fund and use the money to offset the cost of maintaining the cemeteries in town. It was amended at Deliberative Session from $10,500 to $10,650 to reflect the actual amount received via interest.
Those in favor say: This is an established procedure that allows us to take advantage of interest income to offset expenses.
Those against say: No one spoke against the Article per se, but there was some confusion about why this Article was being represented with a fiscal impact, when it is a transfer of interest earned. The answer was provided that because the revenue was appropriated in a prior fiscal year, it was transferred to the General Fund as required by law. Since the funds will be used in 2015, we will need to appropriate them out of the General Fund, and thus must show it as a fiscal impact.
Fiscal Impact: The average Hampton home valued at $329,000 would bear an increased tax cost of $1.24 if this Article passes.