Finance & Advisory Board Meeting
Georgetown, MA
December 15, 2010
Minutes
The meeting came to order at 7:25 P.M. with the following persons present:
Members: Sandy Gerraughty – chair, Robin O’Malley – clerk, John Bonazoli, Lisa Collin, , Jim Lacey
Absent: Reggie Tardif, Andrew Belliveau – vice chair, Chuck Dickson
Guests: Mike Farrell, Peter Durkee – Highway Surveyor
Minutes taken by Robin O’Malley
Snow and Ice: Peter Durkee explained the snow and ice SOP that he presented to the board at this meeting.
- We asked for a cost per lane mile
Jim Lacey made a motion that we recommend approval of the SOP Snow and Ice Removal Budget – Deficit Spending. John Bonazoli seconded. Vote 5-0 in favor.
Town Administrator updates:
- Mike Farrell reviewed the priority base budgeting process. He would like to start the process now. It will not all get done but if we start it should be in place for next year’s budget season. All department heads except School, Water and Electric are doing an analysis of their department. This is a start in the process
- January 22, 2011 is a tentative date for a community outreach program regarding FY12 budget.
- Year to date Revenue and Expenses were given to the board and reviewed.
Stabilization Fund Policy: The board reviewed. Jim Lacey made a motion that we recommend approval of the Policy on Stabilization Fund as stated by Mike. John Bonazoli seconded. Vote 5-0 in favor.
Free Cash policy: The board reviewed. Jim Lacey made a motion that we accept the Free cash Policy as presented with the changes of 25% to each of the three. John Bonazoli seconded. Vote 5-0 in favor.
CIP: We still have 1 open position on the CIP Committee that we need to appoint.
Water Dept: We would like a liaison.
Sandy will send a memo to the BOS regarding the opening and closing of the warrant. Jim Lacey made a motion that we have Sandy write the memo. John Bonazoli seconded. Vote 5-0 in favor.
Transfers:
- Jim Lacey made a motion to transfer from the reserve fund $3,676.09 to line item 11456, Assistant Treasurer Salary for promotion restructuring due to Elaine Hatch retirement. John Bonazoli seconded. Vote 5-0 in favor.
- Jim Lacey made a motion to transfer from the reserve fund $560.61 to line item 11455, Assistant Collectorr Salary due to Elaine Hatch retirement – vacation and sick pay out. John Bonazoli seconded. Vote 5-0 in favor.
Jim Lacey made a motion to adjourn. The motion was seconded by John Bonazoli and passed with a vote of 5-0. Meeting adjourned at 9:15 p.m.
Next Meeting: Wednesday, January 19, 2011, 7:00 pm at the 3rd floor of town hall.
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