HomeMy WebLinkAboutFinance Comm 12/16/1991Finance Committee
Agenda for 12/16/91 Meeting
Comments regarding expenditures/revenues to date
Council'on Aging Transfer - presentation regarding malfunction of heatinglair conditioning
system
Continuing discussion (joint) of budget strategies for 1993
Base budget submitted to Town Meeting balanced with any expenditures that exceed
balanced budget presented as separate warrant articles
How to develop base budget split that is equitable to Municipal and Education, e.g.
benefits
Presentation of proposed Goals and Objectives of Committee
Agenda for next meeting R
FINANCE COMMITTEE
MINUTES FOR DECEMBER 16, 1991
Meeting called to order 7:35PM.
Attending members: Philip Smith, Chairman; Barbara Hagg; Bob Lynch;
Chuck Joseph; Gordon Penmen; Ed McQuaid; Tom Brady.
Attending non-members: Bill Williams; Larry Gallagher; Dr. Warren;
Dianne Royle
Committee discussed with Dr. Warren and representatives from the school
committee the status of the school departments budgeting process. School
dept. is in the first round of its budgeting process and a finalized
budget should be ready by late January. Fincom emphasized the importance
of receiving a school dept. budget for review as early as possible.
Dr. Warren highlighted some of the areas that will cause an increase in
the schools budget. These areas included added staff,, increased utility
and custodial costs, and transportation. These expenses were predicated
upon the new building, and expected school population growth (253
currently in kindergarten and 450 new students expected over the next
three years).
Committee discussed preliminary revenue projections. Mr. Williams
indicated $150k less in excise taxes and $800k less in other fees for a
combined reduction of +-1.0 million.
Committee discussed pros and cons of combining school and municipal budget
items in a menu type approach for possible prop 2 1/2 overide.
Committee discussed new growth forecast. The present expectation is $300k.
Committee discussed the pros and cons of keeping any potential overide
expenditure proproals in conformance with the present municipal/schools
budget ration (42/58).
B. Lynch motioned to adjourn. Seconded T. Brady. Accepted 7-0. Meeting
adjourned at 9:45 PM.