HomeMy WebLinkAboutFin Comm Minutes 3/31/2005Town of Mansfield
Finance Committee
March 31, 2005
Presiding: Andres Gazzolo
Present: Jess Aptowitz, Jack Goldberg, Greg Arnold, Charlene Lavin, Jim Lazzara, Mike
Sams
Meeting opened at approximately 7:00 p.m.
Chairman Gazzolo indicated that based on the e-mail traffic and events that had occurred
while he was on vacation, he had reached out to Mike Trowbridge and had lunch with
him to discuss the issue of better interaction between the Finance Committee and the
School Committee. They had a productive discussion and agreed that it was in
everyone's best interests to work together.
John D'Agostino then took the floor to give an update on the budget numbers. He began
by noting that he was meeting with John Moretti on Wednesday, April 0h to review
budget numbers. He also pointed out the current projections put as at $4.498 million over
the Net School Spending limits. John D. indicated that he believes he will have to reduce
his current budget numbers by approximately 5.0 % -5.4% across the board in order to
balance it. Finance Committee indicated a concern with timing and expressed a hope that
the current deficit of $5.1 million would be reduced to the vicinity of $500,000 -
$1,000,000 after John D. meets with John M. next week.
John D. reiterated his stated desire not to tap into stabilization in order to balance the
budget. Along those lines, he mentioned a proposal he intends to make (which he hopes
FinCom would support) that in the future, a minimum of 40% of all free cash
automatically goes into stabilization until such time as that account is back up to $4.5
million. He acknowledged that in order to do so would require bonding CIP. FinCom
asked whether that is simply creating a long -term problem and a discussion was had on
the subject of the $1 million cap previously agreed to.
Bernie then raised the issue of CIP requests currently being $2.2 million as of this date.
He also stressed that DPW is in dire need of help and cannot continue to be put off.
John D. returned to the bonding issue with respect to the roadways, indicating that he felt
it imperative to address this now or face really poor roads in the future. He envisions a
bond authorization of $7 million, with $5.7 million earmarked for roads, bridges &
sidewalks and $1.3 million for a downtown revitalization project. FinCom recommended
that it should be put into the budget and John D. indicated that he was thinking of debt
exclusion. John D. then left the meeting.
FinCom returned to a discussion of setting a schedule to meet with the School Committee
and discuss a variety of issues, including (a) the current budget numbers (which cannot
be done until John M. provides updated numbers); (b) the issue of union contracts; and
(c) Warrant Article 13 and possible consolidation under 37M.
On a motion that was made and duly seconded it was voted 4 -0 -3 to accept the minutes of
the 3/24/05 meeting
On a motion that was made and duly seconded it was voted to adjourn at 9:05 P.M.
Wspecli ly s bmitted,
itz Greg Arnold
Member