HomeMy WebLinkAboutFinance Comm 01/22/1991TOWN OF MANSFIELD FINANCE COMMITTEE )
Minutes of Finance Committee Meetir¢g tiE'R ( ((( (mac j
Held on January 22, 1991
A F-.,fT5
Pursuant to notice duly posted and in accordant=$ with the
Massachusetts Open Meeting Law, a meeting of the Mansfield
Finance Committee was held on January 22, 1991 at 7:30 p.m. at
the Mansfield Town Hall. Present at the meeting were Charles
Joseph, Chairman, Joseph Pasquale, Edward McQuay, Babara Hagg,
Philip Smith, Philip Lynch and Gordon Penman. At the request of
the Finance Committee, the Board of Selectmen were also present
being William Sarro, Edward Tartufo, Amos Robinson, Frank
Colella, and Thomas Markt. Also in attendance were Joan Cutillo,
acting Town Manager and Lawrence Gallagher, Town Accountant.
The purpose of this joint meeting of the Finance Committee
and the Board of Selectmen was to get an overview of the Fiscal
1992 Budget. The meeting commenced with a discussion by Joan
Cutillo and the increases being experienced by the Town in
employee benefit expenses. While the current proposals reflect a
reduction of $70,000 from that set forth in the draft budget, the
budget number does not include up to seven additional school
personnel that may be added. The Committee discussed the need
to review the number of HMO's and major medical insurers
currently made available to the Town's employees. Ms. Cutillo
was requested to prepare a breakout of the benefits and insurance
costs between the Town and the School Department.
a
The Committee then discussed the overall effects that long-
term borrowing will have as a percentage of the Town's equalized
valuation. At current valuation, the Town is approaching three
percent (3%), which is a benchmark the ratings authorities frown
on if exceeded. Exceeding such limit can have a negative effect
on the Town's bond rating.
The Committee next discussed the need to potentially put out
for bid building inspection services in light of the fees that
will be generated by the new school that is currently under
construction. The Committee believed that there could be some
cost savings in the current bidding climate.
The Committee then discussed the need for uniform assumptions
on electric charges in the various municipal budgets. Mr. Sarro
undertook to speak with the Electric Department to generate a
department by department breakdown of what the Electric
Department believes each of the departments incurring electrical
charges for the next fiscal year will be.
The Committee next discussed that a joint meeting with the
School Committee had been arranged for Tuesday, February 5 at
7:30 p.m., and the proposed recycling facility and the need for
that facility to be constructed with a long-term view.
There being no further business, upon motion duly made and
seconded it was unanimously
VOTED: To adjourn.
fincom:ab6
-2-