HomeMy WebLinkAboutFin Comm Minutes 3/6/2003Finance Committee Minutes for March 6, 2003
On Thursday, March 6, 2003, the Finance Committee convened a meeting with Jim
Lazzara, Michael Sams, Frank Delvecchio Charlene Lavin, Jack Goldberg and Jeffrey
Lang in attendance. Also attending were John D'Agostino and Bea Kearney. Given that
crucial budget information is still pending, this meeting was brief.
John D. opened with a brief discussion on revenue expectations, noting that anticipated
property tax revenues and Excise tax revenues should meet expectations. Investment
revenue, however, may come in at a reduced figure due to the bear market. John D. then
led the FinCom through a brief discussion on the estimated impact of House 1 budget
local aid reductions.
John D then briefly reviewed FY2004 budget revisions already underway. Among the
items noted was a reduction in the MIS budget consistent with the merger of town and
school systems. Increases in liability insurance costs were reviewed as well as
possibilities for reductions in healthcare costs.
John briefly reviewed cuts in the police and fire budgets. Also discussed were cuts to the
school budget to date.
Capital Improvement expenditures have been removed from the budget at this time.
Committee Clerk
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