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HomeMy WebLinkAboutFCMeetingMinutes_03.13.03 APPROVED FINANCE COMMITTEE MINUTES March 13,2003 ATTENDANCE: The following members were present: Jack Watkins, Chairman, Bernice Fink, Vice Chairman, Paul Stewart,Keith Mitchell,Mark Nichols,Melinda Coppa,Paula Porten, Steve Dawe and Mike Batsimm. CALL TO ORDER: Jack Watkins,Chairman,called the meeting to order at 7:01 pm. APPROVAL OF THE MINUTES: The FinCom agreed that the Minutes do not have to contain a detailed list of revisions of previous Minutes;the final amended form is sufficient. After the FinCom made revisions to the March 6 Minutes,Paul MOVED to accept the Minutes as amended. Steve seconded and it passed 7-0-1 with one abstention(Paula Porten). OLD BUSINESS: Municipal Budget(Complete questions/answers list) Jack then began discussions on the Iist of questions the group had begun at the last meeting. The FinCom went over each item, specifying issues that still need clarification. Jack listed all the items, noting that he will ask the Town Manager for further explanation. The Finance Committee then reviewed the Key Budget Items list. After discussion on the BAN vs. Bond item, Mike made a MOTION that the Finance Committee accepts the Town Manager's recommendation to use a BAN instead of a Bond in FY2004. Paula seconded the motion and it passed 8- 1 with Bernice Fink opposed. School Department Update Jack informed the FinCom that he asked Dr. Allen for a budget format consistent with the School Budget Book distributed in January. The FinCom is looking for a format similar to the Town Manager's Recommended FY04 Budget. Paul suggested that the School Department has the handouts available before the joint meeting next week. Jack then told the FinCom about the conference call with the governor's office concerning state aid. The governor's aides noted that the formula for Chapter 70 is slated to change, but the details are not yet available. Regarding the Transitional Mitigation,the purpose is to provide the Town with$1.92M this year with next year seeing other areas of state aid increase and the$1.92M decrease. The expectation is no further reduction in state aid of more than 10%for next year. Jack asked the FinCom to e-mail or call him with suggestions on his responsibility concerning the pace of these meetings. He noted that a lot of work has to be complete in a short amount of time,so any ideas are welcome. NEW BUSINESS FinCom Book—Write-up Drafts Paul distributed three documents for the FinCom to review. The group agreed that Paul has a huge job ahead of him. All revised comments for the Book are due by the next meeting. Mass Municipal Association Spring Regional Update Meetings Jack reminded the FinCom of the MMA upcoming meetings. COMMITTEE REPORTS Budget Communication Group BCG) Jack noted that there was no new information from the BCG. The next meeting is at 8:00 am on March 25. FUTURE MEETINGS The next Finance Committee Meeting is Thursday, March 20 at the Senior Center. School officials and the Board of Selectmen will also attend. ADJOURNMENT At 9:55 pm,Keith MOVED and Mike seconded•to adjourn the meeting. The vote was unanimous.