Finance Committee Minutes – 22 May 2007 – Hapgood Room
Meeting called to order at 7:35 p.m.
Members present: Colwell, McKenna, Ricci, Russo, Sobalvarro
[The meeting reconvened in the Hapgood Room following a tri-board executive session meeting at Town Hall to discuss the HTA contract settlement and potential funding approaches for FY07 and FY08.]
I. Minutes from the May 1st prior meetings were reviewed, modified, and approved with modifications.
II. Election of Officers: Election of officers will occur at a meeting where all FinCom members are present.
III. FY07 Update and Concerns:
- Dispatch with a $2k overrun (radio system affected by electrical storm)
- Library with questions regarding $2.2k; Tim to follow-up with the library
- Pond drawdown’s higher-than-anticipated electrical expenses will result in an ~$12k reserve fund request.
- The Special Education Task Force will be holding a public meeting on 6/4 to acquire input from the public regarding audit scope. Audits which may be similar in scope were those performed of Newton and Andover’s special education programs in the late 1990s.
IV. Committee Liaisons:
A working copy of the FC/Committee list was distributed; the list will be reviewed (and updated) at a later meeting.
V. Upcoming Meetings:
- Tentative dates for the next FC meetings are 6/12, 6/26, and potentially 7/10
- The 7/10 meeting would be for the purpose of reserve fund transfers.
The meeting adjourned at 9:15 p.m.
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