HomeMy WebLinkAboutFCMeetingMinutes_04.10.14
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TOWN OF NORTH ANDOVER
FINANCE COMMITTEE
Meeting Minutes
Meeting Date April 10, 2014
Meeting Location: Town Hall 2ndFL Meeting Room Meeting called to order: 6:45
Alan LeBovidge AL, Chairman Susan Almono SA
X X
Marta Solof MS Timothy Tschirhart TT
X X
Karin Blake KB Matthew Remis-MRem
X
Dan Leary -DL
Bill Callahan BC Pat Sifferlen, PS, Admin
X X
Donald Elliot DE
x
Non FinCom Members in Attendance
OTHERS:
Note: All FINCOM votes are subject to change upon receipt of new information.
Note: Documents used in this meeting are listed in Document Table, herein.
II. Previous Minutes Approved
DATE:
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AGENDA ITEM A: Review and Approve Finance Committee Report
Al: presented draft letter changes were discussed.
See attached letter
Motion made by DE seconded by TT to accept Finance Committee letter as written
Yes 6
NO 0
desirable destination for next generations of new residents depends on
continued investment in education, public safety and an outstanding
physical and fiscal infrastructure.
substantial investments in each of these areas in a fiscally responsible and
sustainable manner.
continuing to develop new programs, including free, full day kindergarten,
budget allocates approximately $42.6 million dollars to public education
which represents an increase in school spending of 4% over last year
without a SPED reserve or full day free kindergarten or a 6% increase
including these items. When accounting for all direct and indirect
expenditures available, for education, total school spending will reach
$64.5 million dollars ($13,300 per student) in fiscal 2015.
At the same time, this budget meets the needs of the Public Works,
Police, Fire and Emergency Management Departments, as well as all other
Town departments, such as the Library, Senior Center and Youth Services.
In terms of capital planning, the fiscal 2015 budget addresses several
important needs, most notably the construction of a new fire station. This
needed investment continues work begun by the Facilities Master Plan
committee, and will be accomplished at th
service as a percentage of revenue will go below 5%.
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Additionally, we are able to report that the proposed water and sewer
budgets for fiscal 2015 will likely result in the third straight year of
unchanged rates.
Finally, it should be noted that for the first time, the Town is taking a
step forward in funding its healthcare liability, known as OPEB. The
financial reserve policies developed by the Town Manager and adopted by
the Finance Committee and Board of Selectmen have resulted in proposed
town meeting warrant articles which establish and fund a reserve account
in the amount of $1,000,000 to begin providing for this long term liability.
In conclusion, the fiscal 2015 balanced budget with investments in
schools, infrastructure, and programs is largely the result of the dedicated
work of our town employees including, significantly, their agreement to
insurance plan. The substantial reduction in the To
(to both the Town and its employees) has allowed for fiscally responsible
initiatives contained in the budget without having to raise real estate taxes
to the levy limit allowed under state law.
Respectfully submitted,
North Andover Finance Committee
Alan L. LeBovidge, Chairman
Matthew Remis
Karin Blake
William Callahan, Jr.
Donald Elliott
Dan Leary
Marta Solof
Susan Almono
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Timothy J. Tschirhart
IV. Next Meetings
May 20, 2014
V. Adjournment-
Motion: DE Unanimous
Seconded: SA Time: 7:15
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TYPE FROM TO SUBJECT COMMENTS
ITEM #
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