HomeMy WebLinkAboutFinance Comm 02/05/2000Minutes of February 5, 2000
Present: Gerald St, Hilaire
Joe Cutillo
Charlene Lavin
Dennis Grady
Margie McShane
Frank Del Vecchio
Andy Gazzolo
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FINANCE COMMITTEE MEETING
01 JAN 31 Psi 2: 27
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MASSACHIUSETTS
The Committee conducted a general discussion on the overall budget approach. Updates on the School
budget were provided. As of today the school is $1,000,000 less than the original number.
The Town side will start reviewing this week. As of today we are in a deficit position of approximate
$3,400,000.
1. Richard Boucher presented to the committee a very good of the overall town debt. This will
help the FINCOM define a level debt strategy. Frank, Dennis, Joe and Andy will meet next
week to work on a proposal to be presented to the FINCOM.
2. Open issue: tax information provided in the tax bill: provide tax from debt and separate
number for tax due to debt exclusion. (Margie)
3. Arlene will publish a list with all meeting to be distributed to all members. Everyone is
invited to attend any meeting.
4. Town Manager provided detailed change in headcount by department.
5. Reserve Fund Transfer 94 for $37,000 was approved by a 6 to nothing vote.
6. Reserve Fund Transfer #5 for $34,225 was approved by a 7 to nothing vote.
7. Balance in Reserve Fund Account $127,000. To be confirmed. (AG)
8. Minutes of 1-18 meeting were approved. (5 to 0)
Next meeting scheduled for Saturday February 26" from 8 to 12AM. AG to schedule.
MOTION to adjourned: 10:35PM
Signature A /V