HomeMy WebLinkAboutFCMeetingMinutes_04.04.02 FINANCE COMMITTEE MINUTES
April 4,2002
ATTENDANCE: Members present: Michael Garron,Chairman;Bernice Fink,Vice Chairman; Stephen Dawe;
Keith Mitchell;Paula Porten;Paul Stewart;Jack Watkins;Mark Weber;
Also Present:Board of Selectmen:Rosemary Smedile,Wendy Wakeman, Susan Haltmaier and James Xenakis; School
Committee member Bruce Baker; approximately 40 residents
PUBLIC HEARING
Michael Garron opened the Public Hearing at 7:07 p.m..
Michael Garron announced that the committee wants to hear the audience's questions,comments and recommendations. He
also announced that the Finance Committee made a$4.2M override recommendation to the selectmen,but there has not been a
final vote on it.
Nearly all residents were in favor of an override in order to fund the school budget. Numerous residents spoke to the
committee on various topics,including
- Adding$200.OK to the Excise Tax revenue
- Adding$100.OK to Miscellaneous Fees
- Reducing unemployment by S600.0K because it would not be needed.
- Taking$700.OK from the Stabilization Fund,Free Cash and Finance Committee Reserves
- Charging for Trash Fees
- The effect of our Bond Rating if money is taken out of our Reserve Account.
- The effects of over estimating revenues and under estimating expenses
- The three budget-busters:Health, Sped,and Trash
- Adding a personal property tax on airplanes,boats,etc.
- Taking Capital projects out of operating budget and consider bonding in order to defer payment.
- Teacher/student ratio in Town and average state teacher/student ratio
When asked about the process that was used to arrive at the$4.2M recommendation,Paul Stewart explained that he started
with the Town Manager's override budget of S3.2M and then added to it He said the numbers were a result of information he
acquired by attending all of the Financial Task Force Meetings.
The Public Hearing ended at 9:35 p.m.
OPEN SESSION
Michael Garron tailed the Finance Committee Open Session to order at 9:50 p.m.
APPROVAL OF MINUTES: -No Minutes were approved.
REVIEW of ARTICLES AND WRITINGS
The Finance Committee reviewed the articles in Paul Stewart's April 4"'draft. All committee members agreed to have their
piece of the Warrant ready for Thursday,April I Id'in order for it to be given to the printer by Friday,April 12`h.
ADJOURNMENT
There being no further business,Jack Watkins made a MOTION,seconded by Stephen Dawe,to adjourn the meeting
at 10:35 p.m. Vote approved$—0.
submitted by: Carol Ritchie, Sr.Confidential Clerk