TOWN OF HARVARD
FINANCE COMMITTEE
Minutes
eeting Date: Jan. 19, 2008
Meeting Place: Town Hall
Members Present: Steve Colwell , Marie Crowley-Sobalvarro, George McKenna,Terry Mead, Debbie Ricci (Chair), Bob Thurston
Others: Tim Bragan, Town Administrator Lorraine Leonard, Finance Director
Meeting Time: 9:05 am
Adjournment Time: 11:40 am
Discussions and Actions
l The minutes of the January 16th meeting were accepted as amended (6-0-0)
l Tim Bragan reported on the Recap. There have been no changes on the Revenue numbers. Omnibus Budget numbers are as requested by the departments. Capital and small warrant articles are just place holders at this time. Cherry Sheet numbers are estimates.
l Tim Bragan and Lorraine Leonard prepared a FY09 budget recap sheet with just contractual salaries and benefit costs and utilities, Capital and Small warrant articles place holders, and estimated Cherry Sheet receipts, to look at the impact of these items compared to FY09 estimated Omnibus . This exercise realized only about $300,000 difference.
l The committee held a discussion on revenue sources and how to approach FY09 estimated deficit . Points included hiring decisions,cutting services, educating the town's citizens, and overrides.
l The committee reviewed the proposed small warrants:
1. $20,000 for a Management Data base for the schools.
2. $25,000 for School Computers was listed in FY 08 Omnibus budget and a small warrant article. Capital Committee will designate where this article will be placed.
3. The $7,000 for a replacement ballot box for the Town will be a small warrant article.
4. Town Employee Health Insurance offset amount of $42,000 was recommended last fall to be taken from the Stabilization Fund.
5. No recommendation has yet to be decided on the Property Imaging system.
6. A Small Warrant article for $12,000 will be submitted for the GASB45 OPEB actuarial valuation.
l The committee reviewed the Capital items
1. Lorraine Leonard discusses the possibility of bundling the building repair jobs and then borrowing the money ~$400,000 with a $58,000 impact for FY 09 budget and a sliding scales in future years.
2. HES room fans to reduction of heat and comfort in the second floor of school. There was reference to a letter from the Board of Health. More information is needed.
3. The $25,000 for renovations at Bromfield to make 2 additional classrooms would be taken out of Devens money.
4. The article to replace the Bromfield boiler might be able to be bundled with the building repair. Steve Colwell felt an independent assessment of the boiler should be conducted as this boiler was refurbished during the building addition project.
5. The Water department's article for $20,000 hydrant on Lower Common will be a Small Warrant article.
6. The Fire Chief's vehicle replacement was moved up a year in the capital plan.
7. The Police Chief's vehicle s are items in the recurring capital line item.
8. The Board of Selectmen has put a place holder of $250,000 for the Center Septic design and bid documents. The Capital Committee is looking to fund this through Stabilization and a 'unique' funding plans which will reimburse this project fully.
l The FinCom reviewed and amended the Assumptions to the Calculator of FY 10 – FY 12. Changes have been underlined.
1. (The Capital Plan has yet to be finalized and this information will be available in the near future.)
2. New programs will not be greater than approximately ½ % of the total Omnibus Budget before debt. (no change )
3. There is a slowing down of the growth economy.
4. Local Aid (Cherry Sheet) will not increase beyond FY09
5. (The percent of the General Stabilization Fund balance to the Total budget will be determined.)
6. Budget revenues and expenditures will be affected by (Changes only are listed.)
king for suggestions for the photograph of this year's book.
l FinCom meeting was adjourned at 11:40 am.(6-0-0)
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