HomeMy WebLinkAboutFin Comm 05/12/2020Finance Committee Meeting Minutes
May 12, 2020
Present: Mr. Walter Wilk, Chairman; Mr. Brian Eagle, Vice -Chairman, Irr., SL ott Feely; Mr. Michael DeSantis;
Ms. Sara Walsh; Ms. Kathleen Aguiar; and Mr. Jack Cooney, Clerk i.. ICE
Also Present: None,
Not Present: None.
1. Call the Finance Committee meeting to order and review the agenda
Chairman Wilk called the meeting to order at 7:00 p.m.
2. Discussion of FY21 Budget
Chairman Wilk stated that the Finance Committee sent the Select Board a letter after FinCom's last meeting
on April 23, 2020 asking the Select Board to provide different scenarios as to how the FY21 budget might be
affected by the pandemic. The Finance Committee and School Committee met jointly with the Select Board
on May 5, 2020 and FinCom was asked to vote on the 10% revenue reduction scenario but requested to have
a meeting for further discussion.
Chairman Wilk explained that the 10% revenue reduction scenario as presented by Mr. Dumas and Mr.
LaCasse had $1.5 million coming from the stabilization fund, $300,000.00 from free cash and reductions in
contributions to reserve fund down to $300,000.00 and to OPEB down to $200,000.00 for a total of $2.125
million. This would leave approximately $562,000.00 each to the town and the schools to cut from their
budgets.
Chairman Wilk asked for questions/discussion from each of the Finance Committee members. Mr. DeSantis
wanted to know what percentage of the budget was from property tax and excise tax. Ms. Walsh stated that
there should be a policy in place between the parties (Finance Committee, Select Board and School Board) for
replenishment of these funds when/if they are reimbursed by the state and/or federal government. Mr. Eagle
stated that nothing had been done yet with the third set of tax lien properties or the RPF for the old fire
station.
All of the Committee members agreed that they should also be looking at a 15% revenue reduction as well so
the Town can be as prepared as possible.
Chairman Wilk stated he will write letter to Select Board to request this. Mr. Eagle stated that nothing had
been done yet with the third set of tax lien properties or the RPF for the old fire station.
3. Adjourn
Motion: To adjourn Finance Committee meeting of May 12, 2020 (Feely/Eagle) at 7:53 p.m.
Pass 7:0
John Cooney
Finance Committee Clerk Signature
Minutes Clerk Signature
Minutes Prepared by Mary Dalton
Date
Date
Finance Committee Meeting Minutes
May 12, 2020
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