DRAFT                                               BEP 3/31/06

CAPITAL OUTLAY COMMITTEE

March 30, 2006

SUMMARY MEETING NOTES

Members in attendance:

            P. Linehan (Chair)

            Board of Selectmen: J. Roach, W. Heitin

            Finance Committee: I. Miller, J. Hitter

            Planning Board: D. Milowe, E. Hauser (7:50 pm)

            School Committee: J. Furr, S. Liao

Others in attendance:

            C. Jackson, B. Dunham, B. Puritz

Meeting commenced: 7:08 pm

General discussion re increased borrowing ($850K) recommended at 3/23 meeting as a result of Wilber School demolition related costs resulting in increased debt to budget ratio of 6.23% (net reallocations application) & desire to review prior positions with the objective of reducing above. It was noted that the average debt to budget ratio for the last 8 years was 6.77%.

Votes taken:

MOVED by W. Heitin, and duly seconded, to accept minutes of March 23, 2006 meeting.  VOTED in affirmative (4-0-3).

Moved by J.Hitter, and duly seconded, to reduce roads funding by $200,000 to $400,000.  Voted in affirmative (7-0-1).

MOVED by W. Heitin, and duly seconded to reduce cash subsidy for MS Roof project by $50,000 to $450,000.  VOTED in affirmative (6-1-1).

MOVED by I. Miller, and duly seconded, to eliminate funding ($190,000) for Sacred Heart Dormitory demolition.  VOTED in negative (1-7-0).

MOVED by I. Miller, and duly seconded, to eliminate funding ($150,000) for sidewalk construction/repairs.  VOTED in negative (1-6-1).

MOVED by W. Heitin, and duly seconded, to adopt overall COC borrowing of $4,388,998 with associated 6.11% debt to operating budget ratio.  VOTED in affirmative (6-1-0).

Meeting adjourned: 8:37 pm.