HomeMy WebLinkAboutFin Comm Minutes 4/1/20031)
Finance Committee Minutes for April 1, 2003
On Tuesday, April 1, 2003, the Finance Committee convened a meeting with Andy
Gazzolo, Jim Lazzara, Michael Sams, Frank Delvecchio, Jack Goldberg and Jeffrey Lang
in attendance. Also attending were John Moretti and John D'Agostino. I }
The Fincom engaged in a general discussion on the current budget scenario with John
Moretti and John D.
John D distributed an 03 -04 Revenue budget analysis which was reviewed by the
Fincom. The analysis considered the governor's 9C cuts and set forth possible scenarios
with varying degrees of decreases in local aid. John D indicated that the budget was most
likely to fall between the more optimistic Romney forecast and that of the House /Senate.
The Fincom learned more about the possibility of a less than anticipated cut in special
education due to "circuit breakers" in place to cushion budget cuts in this area.
John M elaborated upon proposed cost savings measures which include insurance
buybacks [possible 200k saving] and a 1% salary deferral to the next budget year which
considers retirees. Insurance costs are predicated on the overall Southeast regional
healthcare costs. He also discussed school -side operational and personnel expenditures.
A discussion was held relative to the Electric department PILOT payment and the
possibility of recognizing revenue through smaller MWAC payments. As less money is
paid to MWAC, a one -time infusion could be used to augment the 04 budget.
Additional costs reviewed were curb -side trash collection and out -of- district special ed
placements. A fee for trash scenario may be become a possibility in the 05 budget.
Transportation costs on the school side could increase dramatically in the next budget
[33 %] as the transportation contract is up for renewal.
The Fincom indicated to John M and John D. that it would prepare pro forma budget
numbers to assist school and municipal budget teams in reaching target budget figures.
FinCom was slated to meet on Thursday, April 3, 2003 for additional budget reviews.
Jeffrey Laing V f
Finance Committee Clerk