ROCHESTER — There is $467,543 sitting in the town of Rochester’s capital planning fund and according to Capital Planning Committee Chair Dave Arancio, the town will need to be “a little conservative” in how that money is allocated.

“We know we are in a global downturn of an economy,” said Arancio at a Monday, July 1 Select Board meeting. “Our new growth is down and we understand as a committee … that this may not be a reality in future budget years, that the town will be able to allocate $200,000 or $300,000 towards the capital improvement fund.”

Arancio provided the Select Board with a list of items that are on the future docket to be purchased or replaced. The list includes a vehicle for the future police chief and a number of requests by the Highway Department including a “highway loader and a dump sander replacement.”

“We’re just trying to give everybody a status update of where we are and how we tackle the highway department’s list, which is a list we need to continue to look upon,” said Arancio.

“We’ve given an update to the Select Board in regards to the work of the capital planning committee in terms of what has been done in the past and hopefully get some input from [the Select Board] in terms of how you want to move forward,” said Arancio.

Select Board member Adam Murphy said the board will take the update “under advisement,” and brought up the possibility of searching for some grants to cover certain needed vehicles.

Arancio thanked town departments for cooperation with the capital planning committee over the last 5 years.