HomeMy WebLinkAboutmin of fin com 09/21/2006
r
'TtJftUN tJF mAN&FI~'O
FINANC~ Ce>mmfrr~~
Minutes ofMeetin2: held Seotember 21.2006
Finance Committee Members Present:
James Lazzara (presiding)
Jess Aptowitz
Jack Goldberg
Greg Arnold
Charlene Lavin
0-~
A'\?l ~
-"f, J ~/~~
"5': ....7 /' ,-~ "1:-
<.r. ..V~ <f\ "; .A"\
(p "#-;", - \(j
~<';'... ~ z?
\..<-'_~. -.r ;<,
"..-::; /' .-(\
~nY <= ~
~O ~.~
..;..
tP
Also in attendance: John D' Agostino
These minutes were prepared by Greg Arnold. The meeting was opened at 7:00 p.m.
Matters Discussed and/or Voted On
A discussion was had on the proposed Reserve Fund Transfer to cover the mandatory dam inspection.
Since these inspections needed to be done every three years, the Finance Committee had recently
recommended that the costs be placed into the operating budget going forward. However, to cover
inspections already called for this year on the Fulton Pond dam, $3,500 had been taken from another
engineering budget and an additional $8,000 was needed to cover December inspections for the Canoe
River and Mill Pond dams. Greg Arnold asked if it was possible to appropriate the $8,000 now from the
r Reserve Fund to cover the December inspection and then put it back in at the Fall Town Meeting. Mr.
D' Agostino indicated that such a procedure could likely be done. Jack Lazarra moved that the Reserve
Fund Transfer be approved, with the hope that it could be replenished at the Fall Town Meeting. Jess
Aptowitz seconded the motion and it passed 5-0.
A discussion was held concerning the 5-year forecast. Mr. D' Agostino indicated that, ideally, over that
time the fire department would add 8 people and the police department 6.
A discussion was held on the subject of health insurance. Mr. D' Agostino indicated that he anticipated
Blue Cross/Blue Shield coming up with a higher deductible plan and was structuring his contract
discussions with en eye towards including that in the new contracts. A Mitigation Fund would have to be
set up to off-set the impact on employees; however, it was anticipated that the premium savings would far
outstrip the cost of establishing the Mitigation Fund. At this point, it appeared as though the School
Department might not be willing to enter into this type of arrangement, which would severely curtail the
potential savings to the Town budget. Mr. Arnold indicated that, from his perspective, if that was the
case, any savings recognized by the Town should flow to the Town side ofthe budget as an incentive to
minimize costs were possible and requested that the School Department attend a future Finance
Committee meeting to further discuss.
A discussion was had on the status of the Light Department finances.
The eting closed at approximately 8:30 p.m.
r (k.d
Gregory . Arnold, Secretary
1 .