HomeMy WebLinkAboutBudget Comm. 10/27/2021Budget Subcommittee Meeting Minutes
October 27, 2021
Present: Jenn Walsh; Lynn Cavicchi; Frank Delvecchio; Michael A. Trowbridge; Sara Walsh; and , 1� r Wilk
Also Present: Barry LaCasse, Assistant Town Manager/Finance Director; Edward Donoghue A's" _"
Superintendent for Finance & Operations 1�11 j� `'"' S OFFICE
1. Call the Meeting to Order AT 6:00 PM 21 A 1/: 32
Ms. Sara Walsh, Chair called the Budget Subcommittee meeting to order at 6:05 PM. tF'S
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2. Acceptance of meeting minutes from September 22, 2021 f_ T T
Motion: To accept the meeting minutes from September 22, 2021. (Trowbridge/DelVecchio) Passes 6:0
3. Special Education Funding Goal Policy
Ms. Cavicchi stated that the School Committee has done some research on special education funding policies
through DESI as well as looking at other Towns. She stated that in order for funds to be used from this account
it would first be approved by the School Committee and then go to the Select Board for their approval.
Superintendent Murphy shared the sample language that was in a policy "the target ceiling for this account
shall be $500,000 and the floor shall be $100,000 if the balance of the fund drops below the target funding
floor than the Town and School will plan to restore the fund to the target ceiling." Ms. Murphy also stated that
once the fund is established the School can request a budget line item to fund and that it does not have to be
from Free Cash like originally discussed. Mr. LaCasse suggested that this policy be treated like the other
policies to be consistent and volunteered to draft the policy. Ms. Walsh stated that the draft should be
reviewed by each of the three Boards and discuss it at the next Budget SubCommittee.
4. Review of calendar detail
Mr. LaCasse stated that at the last meeting there were a few minor changes and those have been made in the
draft and Mr. LaCasse provided a draft of the document but noted that there are still some tweaks needed.
Mr. Trowbridge asked if there could be a consensus on the document so that it can be brought back to the
Select Board. The Committee discussed the difference between the Budget SubCommittee and a Consensus
meeting with the full board/committees. After the discussion Ms. Walsh asked Mr. LaCasse to also draft the
charge of the Budget SubCommittee.
S. SMHG/OPEB Funding Review Recommendation from Health Care committee
Ms. Walsh stated that currently there is approximately $1.7 in the Health Stabalization account which was left
and noted that this money was given back to the Town withdrew from the Southeastern Massachusetts
Health Group (SMHG). She stated there is disagreement on using the funds in budgeting. Mr. LaCasse stated
that the account began with $2.7 million and he summarized the history of the Health Care Stabilization
account that was created. He stated that it was to be drawn on each year for eight years to supplement the
budget and offset costs on insurance. The Committee discussed if it would be worthwhile to put the full
amount in the account towards the unfunded pension amounts instead of spreading the amount over the next
six years. Mr. LaCasse believed it would be best to use some of the funds each year in the budget where Mr.
Wilk thought that putting the money towards the pension would give the Town an average of a ten percent
return versus the low interest rates it is by being in the stabilization account. Mr. LaCasse did not believe that
the intent at Town Meeting when this was established was to use for pension. Ms. Sara Walsh asked what
OPEB was and Mr. LaCasse explained.
Motion: That the Budget SubCommittee recommends using 1/13th of the SMHG funds in the budget which is the
as last year. (Trowbridge/DelVecchio) Passes 6:0
Ms. Sara Walsh stated that everyone should bring this recommendation back to their respective boards.
6. Items not known within 48 hours meeting
There were no items.
7. Meeting Adjournment
Motion: To adjourn the October 27, 2021 Budget Subcommittee meeting at 6:35 PM.
(Trowbridge/DeiVecchio) Passes 6:0
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Minutes prepared by Carrie Champagne
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