TOWN OF LYME
BOARD of SELECTMEN
MINUTES
October 18, 2006
1. Present: Elise Garrity, Carole Bont, Dick Jones, Charles Ragan and Bob Anderson.
2. The recessed meeting of the Board of Selectmen reconvened at 11:50 am to meet with Bob Anderson of the Department of Revenue Administration.
3. The Board discussed the MS-1 and MS-2, and the DRA worksheets.
4. The Board discussed the issue of the “Town Offices Building Capital Reserve Fund” (ART 18 from last year). ~Bob said the Article created an expendable fund with the Selectmen as agents, and thus was off budget for withdrawals and expenditures (e.g. like the recreation and conservation funds) so the withdrawals and expenditures (out and gone) were removed from the budget. ~However the deposit remains on budget as expenditure. ~
5. Bob also recommended considering ARTs this year to change the “Heavy Equipment Repair” and “Emergency Highway Repair” funds to operate similarly. ~
6. The Board voted to apply a $50K overlay (as discussed this morning) and vote to make $87,000 available from our surplus to reduce the tax rate, leaving approximately the 17% GASB recommended surplus. ~
7. The meeting adjourned at 1:15pm.
Richard G. Jones
Recorder pro tem
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