HomeMy WebLinkAboutFin Comm Minutes 5/8/2003Yj
Finance Committee Minutes for May 8, 2003
On Thursday, May 8, 2003, the Finance Committee convened a meeting w th'Andy
Gazzolo, Jim Lazzara, Michael Sams, Frank Delvecchio, Jack Goldberg and Jeffrey Lang l
in attendance. Also attending were John D'Agostino and Bea Kearney . >
The meeting commenced with a presentation by John D of various budget analysis
scenarios. The scenarios considered different levels of stabilization usage and different
assumptions based upon the possibility of additional revenue drivers and expense
reductions. Layoff possibilities were also reviewed, with a layoff cost/benefit worksheet
provided.
John D. reviewed certain municipal department budget- cutting memoranda with the
group.
The Fincom then reviewed the Town Meeting articles. The budget appropriation article
was tabled as were articles 31, 35 and 39. The Fincom unanimously approved of articles
3, 6, 7, 8, 9, 10, 12, 13, 14, 16, 17, 18, 20, 25, 27, 29, 33, 34 and 36. Articles 15, 22, 30
and 32 were defeated in Fincom voting.
An overlay surplus in excess of $110,000 was voted for release by the Board of
Assessors.
A discussion was held relative to the debate around having a chief assessor versus a
Board of Assessors.
The FinCom approved a Reserve Fund transfer in the amount of $100,000 for the DPW
to help with winter maintenance costs.
FinCom was slated to meet on Tuesday, May 13, 2003 for additional budget reviews.
Clerk