HomeMy WebLinkAboutFCMeetingMinutes_04.22.04 FINANCE COMMITTEE MINUTES
April 22,2004
--. ATTENDANCE: The following members were present.Jack Watkins,Chairman,Paula Porten,Paul
Stewart,Mark Nichols, Steve Dawe and Mike Batsimm. Mark Rees also attended.
CALL TO ORDER: Jack called the meeting at 6:30pm
NEW BUSINESS:
THE BUDGET:
Mark Rees presented and discussed the final adjusted budget recommendations. He then provided a handout
regarding the error with the tax levy and prop 2&112 override list. Steve Dawe had discovered the error that the
Sargent School Planning/Design was on that list resulting in the Town over collecting$676,538 in taxes. Mark Rees
has asked the DOR to allow the Town to pay back the money over four years from FY06-FY09. The FY05 budget
now also needs to be reduced by$168,938 because of the calculation error. Mark provided a handout with several
possible options for that reduction,including a.28%reduction across the board. Jack suggested taking monies from
Fincom Reserves and Free Cash. Mark Rees then provided a handout discussing the excise tax history and adjusting
the excise tax to balance the budget. Paul MOVED to suspend the rules to allow the Fincom to vote on the FY05
budget adjustments,with Steve seconding. The vote was unanimous. Paul the MOVED to reaffirm the
expenditures budget already voted on with Mark Nichols seconding. Steve then MOVED to amend the motion to
include reducing the snow&ice budget by$52,000 with Paula seconding. The amendment failed 2-4 with Paula
and Steve voting in favor. The original motion was then voted on and it passed 5-0-1 with Paula abstaining.
COMMUNITY PRESERVATION ACT:
John Simons spoke before Fincom providing a handout and spreadsheet of projects accepted under CPA and costs
associated with them. The Town will be voting on these projects at Town Meeting. Fincom took no vote on these
projects.
THOMSON BROTHERS:
Jack asked Mark Rees for a financial statement and the financial impact of the host agreement with the Thomsons.
Mark stated that per the agreement,the Thomsons would take over all curbside recycling as well as purchasing the
DPW recycling trucks.
TOWN MEETING PRESENTATION:
Mark Rees will be presenting the budget with Fincom providing a brief presentation about credibility in the budget.
APPROVAL OF MINUTES:
Mike MOVED to approve the minutes of 4/1104 with Steve seconding. The vote was unanimous.
Mike MOVED to approve the minutes of 4/7/04 with minor changes and Steve seconded. The vote was unanimous.
NEXT MEETING:
The next meeting is scheduled for Wednesday April 28,2004 at 6:30pm at the temporary town hall.
ADJOURNMENT:
Mike MOVED to adjourn the meeting and Mark seconded.The vote was unanimous.