HomeMy WebLinkAboutFINCOMminutes02162012 I ,
TOWN OF MANSFIELD
Finance Committee rQ i 1 fEcE/
Six Park Row, Mansfield, MA 02048 1 Fj
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Room Committee Meeting Room, 3rd floor A O.. 112
Minutes for February 16, 20121 , F D
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Attending: Tom Ratliff d
Charlene Lavin
Karl Chambers
Jack Goldberg
Jim Lazzara
Steve Schoonveld
Andres Ga77olo,Chairman
Guests: Town Manager
Town Accountant
Town Treasurer
Fire Chief
Meeting: opened meeting at 7:30 p.m.
Topics of Discussion:
1) FINCOM PROPOSED FY13 BUDGET
2) Town Debt profile
3) Fire Dept.FY13 proposed budget review
4) FY13 Budget open items
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A brief presentation of the FINCOM FY13 budget showing the need to cut the expenses.
Preliminary Five Year Forecast based on requested FY13 budget shows a deficit of$14.5M by FY17.
Town Treasurer to provide the additional capacity based upon FY13 level and assuming equal mixture
of 5, 10 and 20 year bonding.This free capacity,on a yearly basis,ONLY on debt inside 21/2.
This should cover till FY17.
We reviewed Fire dept. budget versus the needs.One extra H/C was included.Fire Chief and Tommy
will work on a fire model to show needs versus financial impact.
Other open items for FY13 Budget:
• Payroll Charges: Jim to contact Schools to set up process to ensure payments are budgeted.
Based on outcome FINCOM model could be modify.
• Pension Unfunded Liability: Steve to work with TM to recommend approach.
• Fire Chief,TM and Tommy to come up with a model to show needs versus financial impact.
TOWN OF MANSFIELD
Finance Committee
Six Park Row, Mansfield, MA 02048
Room Committee Meeting Room, 3rd floor
Minutes for February 16, 2012
• Next meeting to review articles on Parking Enterprise and Ambulance. (Andy and Tommy)
Approved minutes of February 2,2012: 6-0.
Wednesday will present FINCOM FY13 budget to the Selectmen. Time TBD.
Next meeting scheduled for Thursday 23 at 7:30 PM.
Motion to adjourn by Karl Chambers at 9:35 pm