HomeMy WebLinkAboutFINCOMminutes10252012 Town of Mansfield
Finance Committee
Minutes of October 25, 2012
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Present: Yogen Chemburkar, Liz Christo, Scott Feely, Michael O'Brien, Ste411¢1Eg eldy and Ln irman
Walter Wilk. Q & jj
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Absent:James Bazinet '1
Call to Order: Chairman Wilk called the meeting to order at 7:30 p.m.
Board of Selectmen Meeting update
Scott Feely, Yogen Chemburkar, Steve Schoonveld and Chairman Walter Wilk attended the BOS meeting
last night. Walter Wilk communicated the Committee's recommendation that Article 15 & 16 be withdrawn
and the money, $1M, be put into Capital Stabilization. The recommendation would be to borrow short
term and then bond for the capital improvements. The balance of unused free cash would not be used until
spring town meeting.
There was a short discussion about the unfunded liabilities that the town faces for retiree benefits. The
board is cognizant of the fact that they need to save for this as well as capital projects the town faces in the
coming years. Walter Wilk stated that Town departments have done a great job of being prudent with their
budgets and have been able to turn back funds in order to be used for free cash.
Special Town meeting Presentation; rpreparation
The Finance Committee presentation at the Special Town Meeting was discussed. Walter Wilk will speak on
our behalf and with a PowerPoint presentation. We need to develop a mission statement and goal and
objectives for the presentation. Speak to our philosophy and our desire to work collaboratively with all
boards. Goals might be to develop financial policies, present one budget with Town and Schools, have
1/3/5 year plans for all, 5 year historical data and to ensure the strategic plan is used. Slides will be put
together to be reviewed.
Closing comments
Next meetings 11/1 and 11/5 if needed.
Meet prior to Town Meeting on the 13tH
Adjourn'
9:00 Motion to Adjourn (Schoonveld/Feely)
Roll call vote: Chemburkar aye, Christo aye, Feely aye, O'Brien aye, Schoonveld aye, Chairman Wilk aye.
Clerk: du_./t Date: Z Zg /!/ /
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