HomeMy WebLinkAboutFCMeetingMinutes_12.10.14
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TOWN OF NORTH ANDOVER
FINANCE COMMITTEE
Meeting Minutes
Meeting Date December 10, 2014
nd
Meeting Location: 2 floor Conf Room
Bill Callahan, BC Chairman Susan Almono SA
X
Marta Solof MS Timothy Tschirhart TT
X
Karin Blake KB Liz Gerron LG
X X
Thomas Ringler TR
X
Chris Nobile CN Pat Sifferlen, PS, Admin
X
Donald Elliot DE Vice Chair
X
Non FinCom Members in Attendance
OTHERS:
Note: All FINCOM votes are subject to change upon receipt of new information.
Note: Documents used in this meeting are listed in Document Table, herein.
II. Previous Minutes Approved
November 18, 2014
Motion by DE 2 nd by
LG to approve
minutes as presented
AGENDA A BUDGET AND CIP ORIENTATION
2
thrd
BC we will be receiving the CIP plan in drop box on the 16. Our next meeting is December 23.
Report briefly on the 5 year forecast. Similar to last year. More conservative on revenue side.
BC : Town manager and School Committee are proposing a town wide special education
Stabilization fund as opposed to a reserve. Creating a larger stabilization fund to deal with
changes and big expenses that come up. Build a reserve around 750K and try to keep and replenish
as needed.
LG How long would it take to fund?
BC approximately 2-3 years. Would need to propose at Town Meeting to create and then another
to put funds in it. First funding would be in 2016.
KB. What happens to the 100k appropriation for rent in the school department budget?
BC Money will stay in School departments budget town will pay interest on bonds to build new
building. Will not go back to school and request 100k to go back to general fund.
BC what are we looking for from departments whey they come in with their budgets. Tim has put
a list together. Will put on agenda to adopt @ next meeting. Also an FYI eight bids for fire station
and all came in under budget
TT Criteria looking for this is a rough draft key questions we should be asking.
1)Annual objectives /strategic goals.
2)Baseline for reviews.
3)Labor headcount part time fulltime
4)Capital budget, how does this line up with the 5 year Capital plan
5)What is your greatest risk factor?
6)What would you do if you had an extra 100k? What would you cut if you lose 100K?
7)Shared services?
Brief discussion on shared services. Examples human resources/ accounting /purchasing
Handouts from CN from school Committee meetings will hold off discussion until CN comes in.
Agenda B New Business
No new business
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IV. Next Meetings
December 23, 2014
V. Adjournment-
Motion: KB Unanimous
Seconded: DE Time: 7:30
TYPE FROM TO SUBJECT COMMENTS
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