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Finance Committee Meeting Minutes
November 1, 2012
9:30 - 10:30am
Present: Dan Moriarity, Michael Storch and Stanley Ross
- The Committee reviewed updated samples of the budget request letter and forms to be sent to all departments. The Committee approved and instructed M. Noe to send them out.
- Expense reports from FY12 provided by the Town Accountant were reviewed but the excel spreadsheets requested were not provided. As of right now $185,000 of the budget has not been spent. The money appropriated for the dog park at the WMH property will be returned to Free Cash as the project cannot happen on that property and the request was specifically for there. There is also $30,000 of unspent allocated salt and sand money being returned.
- Stanley stated that the Assessors are currently working on setting the new tax rate and their best guesstimates right now is that it will be going down approximately .02 cents. Stan stated that Monterey’s taxable base has gone up as sales have not gone down.
- The capital expense projections given at the Select Board meeting on Monday were reviewed.
- Regarding the grader and the request to replace it this year, the Finance Committee thinks this replacement should be moved back a year unless it is determined that the parts and repairs to keep it maintained would cost more in the long run than the purchase of a new one would be. The Committee wants to speak with the Director of Operations on this. They’d also like to see an outline of the maintenance on the machines against the projected life of the machine. They also want this from the Fire Department.
- The Committee requested that M. Noe find out the availability of the Fire Chief and Director of Operations to meet.
- The request to replace the 4WD police cruiser was also discussed.
- The Finance Committee agrees that the amount put into stabilization should be raised to $100,000.
- Expense reports for the current FY to date were provided during the meeting and the Committee reviewed them.
- Additional reports were requested from the Accountant to be provided for the next meeting.
- The Finance Committee approved the final version of the Annual Report submitted to M. Noe.
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