FINANCE COMMITTEE
Town of Becket
557 Main Street
Becket, MA 01223
Monthly Meeting for Thursday, June 7, 2012
Call to Order: 7.01 pm
Present: Steve LaBelle (SL); Dan Parnell (DP); Maria Wallington (MW); Ann Spadafora (AS); Jeremy Dunn (JD); Jeanne Prior (JP); Craig Kleman (CG)
Absent: None
Public Present: None
AGENDA
A welcome to Maria Wallington, newly elected Finance Committee (FC) member. First order was to elect SL as Chair, AS as Vice Chair, DP as Clerk
1. Review and approve minutes for meeting of May 3, 2012
Motion (M):JD Second (S): AS All Approved
2. Correspondence and transfers:
Transfers from the reserve fund as documented on the reserve fund transfer request form of $2,167 to cover Ambulance Salaries were approved (M : JD, S: MW). Transfers under $5,000 between accounts as documented on the Request for Transfer forms for: $207.00 for Town Administrator Expenses (M:JD, S:DP); $312.00 for Liability Insurance (M:JD, S:DP); $1,779.00 for Legal Expenses (M:MW, S:JD); $4,500.00 for Tax Title Expense (M:AS, S:MW); $1,632.00 for Municipal Building Utilities (M:DP, S:JD); $51.35 for Ambulance Salaries (M:DP, S:AS) were all approved. A transfer request for $11,000 to cover Payroll Taxes was tabled because it was unsure why it was needed and it was over $5,000 which is believed to be the threshold maximum that can be transferred for this account.
3. Town Administrator updates (see Item 4)
4. Other Post Employment Benefits (OPEB) – Becket’s potential liability is a significant amount based upon last years data. This potential liability needs to be further explored by the FC and Select Board as to its’ drivers and possible funding mechanisms and a method for funding this obligation needs to be put in place. A plan for this investigation was suggested during the summer/fall.
5. Recap of last years Budget process and timetable. What worked and what could be improved upon. (e.g. List of donated properties to be presented in a timely fashion).
The following points were noted as improvements for the upcoming Budget cycle:
- Better Ambulance reporting, both Revenue, Expense, and Free Cash use
- Better understanding of the Rules and Regs of use of and calling a Special Town Meeting
- Requested to plan budget finalization to be earlier to allow more time for final analysis
It was requested that everyone look at the current timeline for a discussion at next month’s meeting for possible improvements.
6. Review of current actuals against the 2012 budget to assess possible transfers to balance budget.
Done in conjunction with Transfers. There also appears to be additional dollars in Vocational Education to cover any other needed transfers by year end.
7. Public input: None
8. Any other business
Salary survey – MW volunteered to help CK. A note was made for DP to call DOR and ask about a site visit to an FC meeting where questions about Enterprise Funds use of funds and other topics to clarify understandings can be done.
Next meeting will be June 28th.
Adjourn: 9:15 PM
Respectfully submitted by Dan Parnell
Approved by Steve LaBelle, Chair______________________________
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