Minutes of the Finance and Advisory Board
October 12, 2004
Meeting Called to Order at: 7:10pm
Location: Town Hall -2nd floor meeting room
Members In Attendance: Jim Lacey, Reg Tardif, Walter Clemons, Bob Melideo, Peter Dion, Sandy Gerraughty, Ruth Stewart, Mike Sweat, Robin O’Malley
Also in attendance: Toni Mertz, Steve Delaney, Larry Borin, George Moker, Debbie Carbone, David Bogden, John Enos.
Minutes Taken by: Sandy Gerraughty
Reserve Fund Transfers
Motion to transfer $12K to line item 19131 to cover additional Unemployment expenses.
Sandy moved
Reggie 2nd
Unanimous
Toni informed us that there was 2 additional unemployment claims opened this week. One claim is for a substitute teacher and one for the Board of Health Secretary. These claims are not reflected on the books as of yet – still being processed.
Toni informed us of a Reserve Fund Advisory for “Drainage” that is an expense under the Highway Dept budget. It is estimated that an additional $12K will be needed for FY05. The budgeted amount for this expense for FY05 was $23,094.00 has already been spent.
ASSESSORS:
Debbie Carbone handed out copies of “Outline of New Growth Procedure”. She gave us a brief summary of the assessment process:
Assessment Date is January 1st
3 months – Abatement time
Then data entry needs to be done for:
New construction
Lot splits
Less than 100% from prior FY
A good new growth number can be estimated at end of May. New Growth is certified in the October time frame. Final Certification happens after building permits of decks, sheds, etc. is calculated. Jim asked Debbie to let us know if data entry help would assist in the process of obtaining New Growth Estimate for the Annual Spring Town Meeting.
Steve is to talk to other towns in regards to how they handle New Growth.
Toni informed us that the total liability of Unemployment for FY05 is currently forecasted at $73K. The total amount budgeted for the Unemployment Line Item is $20K. The total amount for the Reserve Fund is $75K.
Projection for Unemployment is that Liability will come down if 3 claimants go off of unemployment.
Legal Account line item is budgeted for $35K and has currently expended $9739.55 as of the end of October 2004.
George and Larry informed us that the schools do not expect any other layoffs this year.
Motion to accept minutes of 10.12.04 as amended:
Reggie moved
Bob 2nd
Unanimous
Motion to accept Robin as Fin Comm “temporary” appointee to the Personnel Board
Sandy moved
Bob 2nd
Unanimous
Motion to adjourn 8:40
Reggie moved
Robin 2nd
Meeting adjourned
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