He and others who voted ….

He and others who voted against the motion cited the following reasons: Capital funds are clearly earmarked to cover the cost of new projects and should be used for that purpose alone; amenity fees are the only source of funding for capital improvement projects and are dependent on real estate sales; reserves are already underfunded this year; the money will have to be paid back next year; and the proposed transfer will decrease the overall capital fund by 17%.