HomeMy WebLinkAboutFCMeetingMinutes_10.24.02 APPROVED FINANCE COMMITTEE MINUTES
October 24,2002 Meeting
ATTENDANCE: The following members were present: Jack Watkins,Chairman, Bernice Fink,Vice
Chairman, Paul Stewart, Steve Dawe,Keith Mitchell,Mark Nichols,Melinda Coppa and Mike Batsimm.
Paula Porten was not in attendance. Also present were Charles Salisbury,Town Moderator, Chuck
Benevento, Finance Director, and Melinda Ritter,resident.
CALL TO ORDER: Jack called the meeting to order at 7:06 PM.
FINANCE COMMITTEE- Charles Salisbury introduced Melinda Coppa and Mike Batsimm,the most
recent appointees to the FinCom. Charles noted that Melinda has extensive experience as a financial
manager and Mike is currently an accounting manager in Cambridge. Both will bring a new dimension to
the committee. Charles noted that the FinCom is now at full membership with nine people. Melinda and
Mike's appointment expires in 2004. Each member then gave a brief summary of his/her background as a
means of introduction. Jack summarized the objectives of the committee and the advantages of being an
appointed board.
APPROVAL OF THE MINUTES: A MOTION was made to approve the Minutes of the October 3,2002
meeting with the following minor changes. Correct the vote to approve the Minutes to 5-1,with Mark
Nichols abstaining. In the third paragraph from the bottom of the first page,replace the name Bernice with
Steve. On the second page under FY04 Budget Calendar,change inventor to inventory. With noted
revisions,the FinCom approved the Minutes by a vote of 6-2,with Melinda and Mike abstaining.
OLD BUSINESS
Initiatives with Accountability: Jack began the discussion on Initiatives with Accountability,noting that the
FinCom addressed these issues in a presentation at the May Town Meeting. Jack noted that the Board of
Selectmen has not addressed the initiatives,even though the issue comes up every year at Town Meeting.
The group discussed a memo from Rosemary Smedile, Chairman of the Board of Selectmen,responding to
the FinCom memo. Members spoke of the possibility of inviting Mark Rees to the January FinCom
meeting. At that time, Mark could apprise the committee of any results from implementing the Initiatives
with Accountability.After a brief discussion,the FinCom decided to postpone any decisions on this issue at
this time.
FY04 Budget Policy Statement: Chuck Benevento pointed out the minor change made to the final FY04
Budget Policy Statement. If all goes according to the budget presented,there will still be a shortage of
$1.8M in the next fiscal year. A discussion then ensued on how the Town Manager prioritizes the needs of
each department and decides what items can be cut. There was some disagreement over whether the level of
detail provided by the various departments was acceptable. Some members felt the figures for the School
Department that were quoted in the Town's report were inadequate,while others pointed out that there was
a reference to a big School Budget book that was even more detailed than the other departments' budgets.
Bernice and Paul said that the data for all departments is poorly formatted and hard to read. Bernice
volunteered to draft a budget format that contains the information needed by the FinCom. Paul offered to
assist`B"with the project. The group decided to defer any vote on this issue to another meeting.
FinCom Policies&Rules of Procedure: Keith distributed the Finance Committee Policies&Rules of
Procedure for the members to peruse. He explained the minor changes made from the last draft. After some
discussion,the FinCom deferred voting on the policies until all present have had the chance to review the
modifications. Jack thanked Keith and Paul for all their time and energy spent on this project.
FY04 Budget Calendar: Jack noted that the projected budget calendar was on time and that everything
seems to be going according to schedule.
NEW BUSYNESS
December Town Meeting Draft_Warrant: The FinCom then reviewed the Draft Warrant for the December 9,
2002 Special Town Meeting. Chuck Benevento described the specific line item accounts(Overlay Account,
Free Cash, etc.). He noted that the Board of Assessors can declare the money as surplus, and then decide to
appropriate the funds to other accounts.
OTHER
The total budget for the Finance Committee for FY03 is $8,000_ "B"noted that there is not enough money
to pay for seminars. It was determined that members are responsible for paying the fees for conferences
because the money budgeted barely covers the Warrant.
"B"noted that the Superintendent of Schools has requested funds for a new heating system and roof. Jack
added that the state reimburses municipalities for this type of expenditure but the state has no money at this
time.
The next FinCom meeting is set for Thursday,November 14.
ADJOURNMENT
There being no further business,Keith made a MOTION to adjourn the meeting at 9:10 pm. Mike
seconded the motion and it passed unanimously.
Submitted by: Linda Dallaire, Confidential Secretary