TOWN OF HARVARD
FINANCE COMMITTEE
Minutes
Meeting Date: March 26, 2008
Meeting Place: Harvard Town Hall
Members Present: Steve Colwell, Terry Mead, Marie Crowley-Sobalvarro, Debbie Ricci, Chair,
Bob Thurston
Others: Tim Bragan, Town Administrator,
Meeting Time: 7:35 pm
Adjournment Time: 8:40 pm
Discussions and Actions
l The minutes of the Mar. 11th FinCom meeting were reviewed and approved as modified
(3-0-1)
l Tim Bragan updates - State funding provides the Town with $243K more than anticipated.
-Telephone pole taxes will begin next year
-Waste water treatment Article (Article 14) was re-set at $ 9500
decreased from $40,000 budgeted in the Recommended Budget.
- Article 29 is a Citizens Petition
160; Tim Bragan, Town Administrator,Lorraine Leonard, Finance Director
Meeting Time: 8:40 am
Adjournment Time: 8:50 am
Discussions and Actions
l The Stabilization Fund is currently $1.7 million. Although this seems high, it is within the 5-10% recommended for good bond rating for the Town. It is healthy to have this amount as the Town is facing some big capital projects in the near future.
l Steve Colwell has been in touch with the Superintendent of Monty Tech regarding the assessment to the Town. The superintendent had requested that we amend the Article concerning this expenditure to reflect the higher amount than our estimation. The Committee did not receive this information in time for the Warrant Book.
l The meeting was adjourned to Annual Town Meeting at 8:50 am
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