HomeMy WebLinkAboutFin Comm Minutes 4/22/2003Finance Committee Minutes for April 22, 2003
Od Tu 'sday' April 22,,2003, the Finance Committee convened a meeting with Andy
Gazzolo, Jim Lazzara, Michael Sams, Frank Delvecchio, Jack Goldberg, Charlene Lavin
and Jgffr'ey T ng
in attendance. Also attending was John Moretti.
The Fincom engaged in a general discussion on the current budget scenario with John
Moretti.
The Fincom also posed a number of questions to John M relative to class size and other
school budget drivers.
John M reviewed Fincom revenue presumptions and commented favorably on the
healthcare buyback item. 180k appears to be a valid number based upon survey
responses. Also, the 1% pay deferral idea, which would require union support, shows
promise. The School Committee must approve these ideas as well. John will also be
introducing the possibility of a 60/40 split in benefit costs to school staff members.
John M. indicated that school and municipal staff members would be invited to a half -day
session to review budget ideas. The purpose of this meeting would be to educate staff
members relative to budget cutting ideas. Subsequent to this meeting, union members
would need to review proposed ideas.
Andy Gazzolo presented a discussion to John Moretti which was based upon a best case
scenario in terms of future receipt of government aid and other economic factors. It was
shown that, even in a best case economic scenario, the stabilization account was likely to
be consumed within the 05 budget cycle unless more conservative spending practices
could be implemented or unless an override is contemplated.
The Fincom noted that decisions relative to School and Municipal budget items should be
made by 5/13
Fincom was slated to meet on Thursay, May 1, 2003 for additional budget reviews.
Clerk