FINANCE COMMITTEE

MINUTES – March 22, 2004

TOWN HALL – 7:35 P.M.

 

Members present:  Pietal, Heitin, Goldberg, Goodman, Hitter, Miller, Feldman, Rose Sydney,

Members absent:  Fixler, Hearne, Tuck

                                                       

 

Capital Outlay Committee Presentation – Alan Garf, Sam Solomon and Rob Uyttebroek

 

1.      Organization

a.       Formed in March 1969

b.      Comprised of 2 members each from the Board of Selectmen, Finance Committee, School Committee, Planning Board and a Chairman appointed by the Board of Selectmen

c.       Items considered must meet 2 criteria

                                                   i.      5 year life

                                                 ii.      $10,000 cost (bundling of smaller items allowed to reach the $10,000 figure)

2.      Borrowings

a.       Consider the overall cost for debt service

b.      Historically – 7% for debt service (non-exempt)

                                                   i.      Back out the water department, debt exclusions and overrides

c.       Effects budgets 2 years ahead

d.      Highlights of this year

                                                   i.       committee looked at 5 year capital planning

                                                 ii.      approved a higher amount of debt compared to last few years

                                                iii.      most requests were vetted before they were brought to the committee

e.       FY ’06 – 5.9%

3.      Review Non-Exempted Debt as of Percentage of  Total Amount Raised and Tax Levy

a.       Past history

b.      Town growth of 5% per year

c.       Discrepancy between 3/11 and 3/22 analysis (Mr. Goodman)

                                                   i.      Mr. Uyttebroek will document

4.      Review of Capital Requests

a.       Wilbur School Project - $101,644

b.      Data Processing - $20,000

c.       Fire Department - $101,000

d.      Police - $73,000

e.       Public Works - $860,000

f.        Recreation - $163,000

g.       School Committee - $1,960,346

5.      Future years

a.       Middle School projects will total $2,400,000 over the next 5 years

b.      Typical borrowings of $2,000,000 plus one middle school project per year

 

Finance Committee Sector Budget Review

 

1.      Available - $1,225,354

2.      Minor modifications made

3.      Town Clerk Salary Increase

a.       Moved and seconded that the Town Clerk’s salary be increased by 10% over FY ‘04

                                                   i.      Voted – 8-0-1 (Sydney abstained)

 

Annual Town Meeting Warrant Articles Review – Ben Puritz

 

New Business

 

1.      Scheduling

a.       March 29, 2004 – School Committee Budget

b.      March 31, 2004 – Warrant Articles

c.       March 23, 2004 – Selectmen’s meeting

                                                               i.      discuss legal issues (executive session)

                                                             ii.      discuss senior staff agreements

2.      Future agenda item

a.       Town Audits

 

Adjournment at 9:40pm – Voted 9-0-0