A joint meeting with the BOS convened at 7:01 PM in Town Hall.
Members in attendance: Bothwick, Burbott, Cabot, Carr, Croft, Herbster, Kenney, Putnam, and Swanson
Other in attendance: Town Administrator, Town Accountant, BOS
Mrs. Thorne (BOS) presided.
FINANCIAL OVERVIEW
The Town Administrator provided a power point presentation. Some of the points included in the proposed budget are:
· Projected revenues - $23M; local receipts and overlay surplus, level funded; tax levy increased to approximately $16M
· Money from completed NESWC contract is put in Free Cash
· Projected new growth - $150,000
· Debt service and levy is decreased
· State aid is expected to be level funded (1% of revenue), using estimated local and state receipts
· Due to an increase in F’ 06 certified Free Cash, the Town Administrator suggests this is a good time to establish a Free Cash enterprise fund
· Increase the Snow Budget to $160-170,000 to reflect actual spending, if funds are available after capital and school budget recommendations
· 4% tax levy does not keep pace with the budget growth
· Health insurance and pensions costs continue to rise
· Utility expenses are under funded in F’07
· 64% of the increase in the total budget is equal to employee benefits and utility costs
· Police and clerical contracts are settled
· Budget reflects a 2.5 increase for non union employees
· There is an encumbrance for the police contract settlement; the Town has filed for arbitration, and any new settlements will be on a separate warrant article
· Increased Singing Beach revenue supports the operations and lifeguard costs
· New web site and telephone system will cost the Town less
· Legal budget is fully funded
· Treasurer/Collector budget reflects outsourcing the payroll
· Health budget include flu vaccine
· Council on Aging now has two vans
· Singing Beach needs emergency communication (more discussion will be needed on this topic)
· Tuck’s Point staffing will be reduced to Friday, Saturday and Sunday
CAPITAL ITEMS
· Replace outdated water meter reading system – parts no longer available after 2008
The Town Administrator suggests borrowing for some capital projects.
Discussion ensued regarding increasing water user bills to include the meter upgrade. This topic will be discussed with the consultants during the DPW Study.
Members of the FinCom request cost allocations of all departments, and the cost of snow removal per mile.
At 8 PM the FinCom adjourned to a different room in Town Hall.
Mr. Bothwick presided.
VICE CHAIRMAN – Nominations were tabled.
REQUEST FOR TRANSFER – Mr. Herbster MOVED “to recommend approval of $2,000 for recreation education and training”. The MOTION WAS UNANIMOUSLY ADOPTED.
MINUTES –The minutes of 10/4/06 were amended to include the unanimous vote for Mr. Bothwick as Chairman, and were adopted as amended. The minutes of 8/7/06 were adopted as written,
OPERATING BUDGET – Mr. Bothwick summarized that the School will be asked for a 4% budget increase, and pensions are at 10%, and health insurance is at 15. The $360,000 excess NESWC fees have been distributed; of which $90,000 went to Free Cash.
Department liaisons will be delegated. Committee members should let the Chairman know if they have a special interest.
The two options for trash collection is a topic that should be discussed to present to Town Meeting.
The meeting adjourned at 8:20 PM.
Respectfully submitted,
Judith Sabella
Clerk
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