HomeMy WebLinkAboutmin finance comm. 10/21/04
Town of Mansfield
Finance Committee
October 21,2004
DEC I 5 P!>j ,: I 7
Presiding:
Andres Gazzolo
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Present:
James Lazzara, Jack Goldberg, Charlene Lavin,
Absent:
Michael Sams, Jesse Aptowitz Frank DelVecchio
Chairman Gazzolo called the meeting to order at 7:12 p.m.
Chairman Gazzolo distributed various union contracts. Fincom will begin to assemble a
summary of the significant financial provisions of the contracts. A preliminary review
should begin at our next meeting. Discussed the various required information (eg.
Number of people affected) so that averages could be tracked.
Andy announced the upcoming MMA annual meeting at Holy Cross on November 4,
2004 and asked if anyone was interested in attending.
Andy gave a copy of the recently issued audit ofthe 6/30/03 financial statements,
management letter and reports required by OMB A-133 to Jack and asked for a report at
our next meeting. He also asked for a report on a published article regarding audit
services and other procurement.
Andy discussed the upcoming budget assignments and indicated that this was going to be
another difficult budget cycle and that if any Fincom member was unable to spend the
necessary time, they should consider resigning. The assignments are as follows:
Andy
Mike
Charlene
Jess
Jack
Jim
Frank
Airport, Capital and several others
School
School
Capital, Fire, Police
Fire, Police, Light
Light, DPW, Water
to be determined
Andy indicated we should expect to meet every Thursday at 7pm until further notice or
unless he specifically cancels a meeting.
Andy reported that free cash is expected to be approximately $70-$90 k.
Andy will call Electric Commissioner Archille to set up a discussion on the next Fincom
recommendations for the Light Dept.
5-Year Forecast - Andy wants to focus on certain items. Among these topics were
salaries, benefits, headcounts (all employees by dept. and school census), local and state
revenues streams, establishment of strategic priorities (by selectmen), capital needs, town
population, desired level of stabilization, affect of revaluation, Chapter 70 funds along
with SPED, no child left behind and circuit breaker estimates, insurance, utilities,
legislative mandates, treasurer to provide debt profile, litigation payments, tax strategy
(Charlene t draft memo to Selectmen on this topic). Andy will distribute this to John D
and John M for their input.
Jack reported on a meeting with John D regarding the Fincom's recommendation to form
an audit committee. John had suggested polling neighboring communities to see if a
group with appropriate experience could be identified and then serve each of the
contributing communities with the service of this audit committee. On a motion that was
duly made and seconded:
VOTED: to ask John to proceed with his recommendation and report back to the Fincom
before December 31, 2004.
Andy will request the budget schedule from John D.
On a motion duly made and seconded, it was:
VOTED: to adjourn the meeting at 8:15 p.m.
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