TOWN OF HARVARD
FINANCE COMMITTEE
Minutes
Meeting Date: April 9, 2008
Meeting Place: Hildreth House
Members Present: Steve Colwell, Terry Mead, Marie Crowley-Sobalvarro, Debbie Ricci, Chair,
Bob Thurston
Others: Tim Bragan, Town Administrator,Lorraine Leonard, Finance Director
Patty Wenger, School Committee, Stu Sklar, School Committee
Meeting Time: 7:35 pm
Adjournment Time: 9:37 pm
Discussions and Actions
l Minutes of the FinCom Meeting of the March 26 and March 29 were accepted
and passed(5-0-0)
l Tim Bragan gave a review of his Town Administrator's report which presented to the BOS. At their meeting of April 8. As the Committees go forward-with thoughtful and appropriate decisions, the new budget should be sustainable.
l Debbie Ricci reported that Local Aid for FY 09 will be taken out of the State's 'rainy-day' fund.
l Tri-Board meeting will be on Monday, April 14, 2008
l Theoretically any amount could be presented to the voters as an override.
l Option B with $200K override is determined by the amount of free cash to cover contractual settlement for FY 08 budget from the October 07 Special Town Meeting.
l BOS will be developing a survey to determine why the override failed.
l The committee had a conversation of saving alternatives for the remainder of this year as well as possibilities for next year to control spending.
l Committee looked at the time line for possible special town meeting, warrant articles, etc in order to determine FY09 budget.
l Upcoming FinCom meetings - Wednesday- April 16, 2008 at the Town Hall
- Wednesday- April 30, 2008 at the Town Hall
l FinCom Committee discussed what "should be, the level of Override and generally settled at $200K minimum."
l FinCom Committee discussed if the 70/30% split should be applied to an override amount. This split was agreed upon."
l Move to adjourned at 9:37 pm. Passed.(5-0-0)
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