HomeMy WebLinkAbout2024-11-14 Revenue and Fixed Cost Committee Minutes Revenue and Fixed Cost Committee
Minutes of Meeting of November 14, 2024
Meeting brought to order: 9:00 AM
Handouts: FY26 Revenue Projection Detail
Committee Members Present:
Kyle Warne, Town Accountant
Pam Lathrop, Interim School Superintendent
Denevan O'Connell, FINCOM Member
Nancy Sarro, FINCOM Member
Also Present:
Melissa Murphy-Rodrigues, Town Manager
Dee Casey, Deputy Town Manager
Dennis Keohane, Town Finance Director
Discussion:
• Motion made by Denevan O'Connell, and seconded by Nancy Sarro, to approve
Kyle Warne as the Chair of the Revenue and Fixed Cost Committee. Motion
approved unanimously.
• With permission of the Chair, Dennis Keohane reviewed the FY26 Revenue
Projection Detail.
o Dennis talked about the Real Estate & Personal Property Estimate. He
indicated that new growth is estimated higher than the historical average,
but significantly lower than the most recent fiscal years which included
unusually high new growth, primarily due to the Amazon project.
o There was a discussion of the estimated local receipts and the process used
to arrive at the amounts.
o Dennis explained that State Aid is estimated to be the same as the prior
year, which is consistent with the Town's historical approach.
• Dennis informed the Committee that he will provide information about fixed costs
at the next meeting.
• The committee discussed dates and times for the next meeting.
o The next meeting will be on Monday, December 2, 2024 at 11:30 a.m. in
the Town Hall 2nd Floor Conference Room.
• Motion made by Denevan O'Connell and seconded by Nancy Sarro to adjourn.
Motion approved unanimously.
Meeting Adjourned: 9:23 AM