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HomeMy WebLinkAboutFCMeetingMinutes_01.08.04 AYT r FINANCE COMMITTEE MEETING JANUARY 8, 2004 ATTENDANCE: The following members were present: Keith Mitchell, Vice Chairman, Bernice Fink, Melinda Coppa, Paul Stewart, Paula Porten, Steve Dawe, Mike Batsimm. Jack Watkins, Chairman, arrived after the approval of minutes. CALL TO ORDER: Keith called the meeting at 6:35pm APPROVAL OF MINUTES: Melinda MOVED to approve the 12/11/03 minutes and`B" seconded. The minutes were approved 6-0-1 with Mike abstaining. Melinda then MOVED to approve 12/18/03 minutes and"B" seconded. The minutes were approved 6-0-1 with Mike abstaining. OLD BUSINESS: Fincom Member Responsibilities Update. Paul provided an update for 48, #9 and#10 advising that Lyne Savage and Joyce Hanlon are putting together a list of all Special Revenue Funds. This list will consist of revolving fund, gifts and grants and that they are about 95% done. #20. Steve advised that this was about 50% complete and that he was working with DPW to provide answers. #21. Jack is looking into overtime at the fire station and is about 50% done. 22. Harry to provide SPED info in his budget. #27. Jack will be discussing with Mark Rees again indirect cost like health insurance and health savings accounts. #28. At a prior meeting, Joyce stated that we cannot budget tax title pursuant to MGL. Paula is finding the exact statute. #30. Paul sent a letter to Mark Rees re:the budget and would follow-up. #32. Heidi Griffin will come to a future meeting to discuss solid waste. #34. Jack and Paul are working on the process to standardize town budget reports in conjunction with "completeness" issues. #36. Steve provided a report with school enrollment numbers. As of 1011103 there are 4354 students. #37. The group briefly discussed productions like at the Collins Center to raise revenue. The Fincom Financial Forum will be further discussed at the next meeting as 4 of the 5 selectman chose not to participate. Budget Format. Paul discussed having Mark Rees supplement his recommended budget with special revenue fund information but that Jack's simple format budget be provided in the warrant. NEW BUSINESS: Snow & Ice update. Jack provided the group with a letter from Lyne Savage requesting authority to pay snow & ice invoices causing the account to go into a deficit. The receipts total 5171,441.28. Keith MOVED to suspend the rules to allow a —ote on Lyne's request. Steve seconded the motion and the vote passed 6-1 with"B" opposing. Keith then _MOVED to authorize the town accountant to pay snow& ice invoices resulting in a deficit,pursuant to MGL ch31D, Mike seconded. "B" them MOVED to amend the motion stating that if the snow & ice budget exceeds $650,000, that Lyne will need to come back to Fincom with a new request. Paul seconded the motion and the vote failed 4-4 with `B" , Steve, Paul and Paula supporting the motion. The original motion was then voted on and the vote was unanimous. The group also discussed the philosophy of more accurately budgeting snow & ice. That the average cost between `99 and `03 has been about $661,000 and that we should consider budgeting between $650,000 and $675,000. NEXT MEETING: January 15, 2004 at 6:30pm at the temporary town hall ADJOURNMENT: Keith MOVED to adjourn the meeting at 9:03pm and Mike seconded. The vote was unanimous.