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HomeMy WebLinkAboutFINCOM MIN 05212009 Town of Mansfield Finance Committee Minutes of May 21, 2009 1 \fED '" r" ,.-,- . C'" . ':; Uri-! t. Attending: James Lazzara Charlene Lavin Andres Gazzolo Karl Chambers Jack Goldberg Tommy Ratliff 'H\iH1 LUU'"i 12 A [I: 31 Motion: To Open at 7:30p.m. (Lavin - Lazzara) 6 - 0 Passes Review Mr. Gazzolo reviewed the model of the budget provided to the Finance Committee by the Town Accountant. He said that there is likely one more change since the model that they received that day. Mr. Lazzara pointed out that there is a difference of about $60,000 between the Finance Committee budget and the Town Manager's budget. Mr. Gazzolo noted that the Finance Committee is still requesting the $70,000 that the Town Manager has not placed in his budget. Mr. Gazzolo mentioned that the town may need to carry costs from snow and ice expenses into the next fiscal year, but that it could potentially just cause more problems later on. Mr. Moran spoke to the Finance Committee and explained that $2 million of the stimulus money has become available and that there are no restrictions on how it can be used. Since it is viewed as Chapter 70 money the municipal side has requested that a percentage of the funds be transferred for use on the municipal side, since they are not using the traditional 70/30 split that is used for Chapter 70 funds. Mr. Gazzolo said that he would like to discuss this further with the Town Accountant. Schools Mr. Lazzara said that he met with the schools on Tuesday and that he felt that they now have similar understanding in regards to the budget. He said that the schools will likely need to make a reduction of approximately $350,000. He said that the schools were given a number that they intend to meet; this will likely result in a combination of staff cuts and other expense cuts. He said that the funding for the circuit breaker from the state that they normally receive will likely be cut and that it could potentially cost the town an additional $300,000. Mr. Lazzara said that the issue with the emergency exits at the Robinson School belongs in CIP but that it needs to be addressed before school starts in September; he said that he feels the $30,000 that was requested for this project will not be enough to complete the project but it will at least get it underway. Unfunded Liability Mr. Gazzolo asked whether or not the Finance Committee should wait to change these numbers until they receive new numbers the following week. Mr. Goldberg expressed the need to pay more than the minimum for the next several years to get the amount owed lower. Mr. Goldberg said that the Electric department should not be included in this number and that they should have their own; he said that each enterprise account should have their own numbers for this. Discussion Mr. Gazzolo requested that the Finance Committee move to request a transfer of $3,000 from the Reserve Fund to pay for the Finance Committee secretary. He also said that he would like to see a separate line for the Finance Committee that they would be responsible for maintaining. - Vote Motion to approve the transfer of $3,000 from the Finance Committee Reserve Fund to the Finance Committee Fund for payment. (Lazzara - Ratliff) 6 - 0 Passes Mr. Goldberg mentioned that the snow and ice budget issue was brought up months earlier and that it was recommended that it be handled at that time to have a less dramatic impact on the town's finances. Mr. Lazzara suggested that representatives from the Finance Committee meet with the Town Manager and the Town Accountant to discuss this the following week. Mr. Dentino expressed that he did not feel it is wise to carry the snow and ice costs forward into the 2010 budget; he said that they should be looking at other alternatives. Mr. Gazzolo agreed that it would be best to find a way to fund that area. Mr. Moran said that the snow and ice budget had seemed manageable when it was discussed several months earlier, but that then the revenues for the town went down. Mr. Lazzara expressed that the town is in a difficult position because they do not have money set aside. Mr. Lazzara gave a review of the previous week's meeting for those that were not able to attend. He said that they went through the articles and that the financial articles were relatively straightforward. He said that they did not have any questions, however, they did not vote on the articles. He also said that they met with the Town Moderator to discuss his articles. Mr. Goldberg said that he, Mr. Gazzolo and Mr. Lazzara met with the Town Manager, the Town Accountant and the Town Treasurer earlier in the week to review the financial statements. He said that they have a few changes that they are planning to give the auditor and that the town has mitigated some of the risk that they had with their deposits. Mr. Gazzolo said that he met with MIS and that he believes that things will be changing. He said that the Finance Committee would like to see a presentation after the annual town meeting on where the town will be going in the next five years in regards to software. Vote Motion to approve minutes of May 7 Finance Committee meeting. (Chambers - Lavin) 6 - 0 Passes Vote Motion to approve minutes of May 14 Finance Committee meeting. (Lazzara - Lavin) 4 - 0 - 2 Passes Motion: To Close at 8:45p.m. (Lazzara - Goldberg) 6 - 0 Passes , W ' I,... {/] 1/ / "\ ,iAiJ.!v/1! 11 ' 1/ t'I1:1r??;Y'lQ Signature 0 Clerk u /-/. C}~l Date of Approval T ,. ,__~,,'~""~"__'" 'W_'"~"'_"""",,~,_,_".,~,,~,. ___"~'_"_'_ __,.~__",~'"'_"""~"""'_.'