HomeMy WebLinkAboutREVENUE FIXED COST COMMITTEE MINUTES 11-12-2020 Revenue and Fixed Cost Committee
Minutes of Meeting of November 12, 2020
Meeting brought to order: 8:02 AM
Handout: FY22 Revenue Projection Detail (Attached)
FY22 Fixed Costs Projection Detail (attached)
Present:
Lyne Savage, Town Finance Director(Chair) Melissa Rodrigues, Town Manager
Sasha Weinreich, FINCOM Member Dr. Gregg Gilligan, Superintendent
Denevan O'Connell, FINCOM Member Jim Mealey, Asst Superintendent of Schools
Discussion:
• Motion made by Denevan O'Connell and seconded by Sasha Weinreich to
approve the meeting minutes from October 21, 2020. Motion approved
unanimously.
• Lyne Savage asked for a motion to name a chair for the Committee. Motion made
by Sasha Weinreich and seconded by Denevan O'Connell to name Lyne Savage
Chair of the Committee. Motion approved unanimously.
• Lyne Savage reviewed the FY22 Revenue Projection Detail worksheet, focusing
on the larger items.
o Lyne will be meeting with the Assessor to determine if the New Growth
projection can be adjusted up.
o Motor vehicle excise is being level funded for now. The February
commitment will tell us more.
o Meals tax is being impacted by COVID, so the projection had to be
adjusted down.
o Per regulations the solar pilot revenue is being removed from local
receipts and moved up to tax revenue.
o Ambulance rates have increased so adjusted the projection up.
o Building Fees are projected lower until we are able to meet with the
Building Inspector to get a better idea of activity.
o Interest Income projections are down as a result of the impact of Covid.
o State Aid is being level funded as we always do. Still awaiting any
indication from the State to see if anything is going to change.
o Sewer and Water have been increased 2.5% as usual.
• Overall, our preliminary projections area 2.1% increase in revenues for FY22.
• Melissa Ridrigues indicated there could be some room for growth in building
permits and New Growth.
• Sasha Weinreich asked what we should expect regarding Amazon for this year
and next. Melissa indicated we anticipate permit fees estimated at$4.5 million to
hit FY21.
• Lyne indicated our next meeting will have more updates and ideas of how to
manage the permit fee revenue.
• It was agreed the next meeting will be Thursday,November 19, 2020 at 8:00 AM.
Lyne and Melissa will meet with the Assessor and the Building Inspector in the
interim and will also see if they are available for the next meeting.
• Lyne indicated that she had provided the preliminary FY22 Fixed Costs
Projection worksheet. This is for information purposes and to provide a reference
point. We will get better information over the coming weeks and usually finalize
fixed cost projections in January.
• Motion made by Denevan O'Connell and seconded by Sasha Weinreich to
adjourn. Motion approved unanimously.
Meeting Adjourned: 8:26 AM