FINANCE COMMITTEE
Town of Becket
557 Main Street
Becket, MA 01223
Monthly Meeting
Thursday, February 3, 2011
Call to Order: 7:15 P.M.
Present: Steve L., Ann S., Jeremy D., Chuck A., Richard F., Dan P.
Absent: None
Public Present: None
AGENDA:
1. Review and approve minutes for meeting of Jan 6, 2011
Motion: Jeremy Second: Ann
Approved
2. Dept Budgets for FY 2012
All departments not in, especially the larger ones; Police, Highway, School. Richard has been following up with departments and estimating for those not submitted. Special article items have also started to be collected. The Finance Committee budget was discussed. It was felt that membership in the Finance Committee Association was prudent and that some members should attend the annual conference. Dan to get details.
Post meeting note: The Association of Town Finance Committees (ATFC) is under the umbrella of the Massachusetts Municipal Association (MMA). The annual dues (covering period of July 1 to June 30) is based upon population and for Becket that appears to be $123 per year. The membership covers copies of the Finance Committee Handbook for all Finance Committee members and at least 2 annual educational and professional meetings.
3. Budget discussion for FY 2012
Discussions concerned the ups and downs of the town budget and the availability of Free Cash (which has not yet been determined). There is a desire to increase the Stabilization Fund as current balance in fund is $160,000 (post note: annual contribution limits are10% of prior years tax levy and overall balance in Stabilization Fund(s) cannot exceed 10% of the Communities Equalized Value). The Highway Department overall yearly spending is coming in quite a bit under budget as Lenny has found efficiencies and improvements to lower costs and last year was a light Winter. The Select board is recommending a possible 3% wage increase budget for Town Employees. A comparison for reasonableness, the Boston area CPI will be available in mid February. One Special Article that needs to be addressed is Town Building Repairs. It is suggested to have a line item for $25,000 to address this issue. Lastly, the Becket Ambulance Enterprise Fund needs to be added into the budget as a line item
as it no longer is a town department but still requires funding.
4. FinCom submission for Town Report
This report is due. Jeremy volunteered to draft up a report. Ann will assist. Committee will review at next meeting.
5. Correspondence
The CBRSD had an open meeting on Feb 1st. No one from the Becket Finance Committee was able to attend.
6. Public Input
None
7. Any other business
None
Adjourned: 8:44 P.M. (NOTE NEXT MEETINF IS THURSDAY FEB 17th)
Respectfully Submitted by Dan Parnell; Approved by Stephen LaBelle:______________________________
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