Town of Newbury
Finance Committee Meeting
Wednesday June 20, 2007— 7:00 pm, Town Hall
Meeting Summary
In attendance: Gene Case, Bill Cooper, Larry Guay, Frank Remley.
Ex-Officio: Chuck Kostro, Finance Director
1. May 16 meeting minutes: Approved without further discussion
2. FY 07 Budget Update and Final Budget Projection: Chuck reviewed the
budget performance to date and projected year-end closing with about a
$107,000 surplus. He also provided a bank account summary showing about
$2.2 million cash on hand. This amount is spread over 46 different bank
accounts in eight different banks. He noted that all bank balances were being
tracked in excel by account, and that he will consolidate these accounts in the
near future.
3. Proposed final transfers/adjustments to close year: Chuck requested
approval of the attached list of transfers among departmental accounting codes.
He explained that these appropriation transfers were all within the limitations on
FinCom transfers without town vote of 3% or $5,000, whichever greater. These
are allowable under G.L. Ch. 44, par. 33 Municipal Finance Law, of which he
provided a copy. The Finance Committee members unanimously approved the
transfers, totaling $42,785.91, in attendance. (See attachment A below)
4. Update on Capital Planning Committee: Bill Cooper announced that the
Capital Planning Committee would now complete with the nomination of Richard
Bazirgan and Dr. Marc Simmons. A vote was taken and the Finance Committee
unanimously recommends to the Board of Selectmen the appointment of
Richard Bazirgan and Dr. Marc Simmons to the Capital Planning committee. The
committee will then consist of:
Bill Cooper, finance Committee, Chair
Chuck Kostro, finance Director
Dave Newbert, Finance Committee
Richard Bazirgan
Dr. Marc Simmons
5. Other issues: Chuck summarized progress on collection of back taxes and
said that letters to almost 700 tax payers who owe various amounts dating back
to 1993 have been mailed. He further noted that the top 10 delinquents owed
approximately $200,000. Ensuing discussion centered on having some sort of
dispute resolution process, should it be needed to adjudicate disagreements as
they arise. Larry Guay suggested the possibility of having an independent
committee to review disputes and at least recommend possible alternative
solutions. Chuck said that he would take this under advisement. He also said
that he was already working on a time payment process for those who could not
pay their tax arrears all at once.
ATTACHMENT A
FY 2007 YEAR END
Line-Item From Account From Name
Transfer
Amount Line-Item To Account To Name
100-135-511-000 Accountants Salary 2,027.32 100-124-5110-000 Selectmen Secretary Salary
100-146-5111-000 Collectors Salary 2,120.00 100-137-5111-000 Finance Director's Salary
100-146-5111-000 Collectors Salary 777.54 100-161-5111-000 Town Clerk's Salary
100-192-5210-000 Public Building Maintenance 2,800.00 100-161-5421-000 Town Code Books
100-192-5210-000 Public Building Maintenance 605.77 100-171-5112-001 Conservation Commission
100-192-5210-000 Public Building Maintenance 961.42 100-175-5112-002 Planning Board Wages
100-192-5210-000 Public Building Maintenance 30.00 100-176-5112-003 Zoning Board of Appeal Wages
100-192-5210-000 Public Building Maintenance 390.00 100-192-5112-000 Town Hall Wages
100-241-5110-000 Building Inspect Salaries 367.73 100-241-5112-000 Building Inspector Wages
100-241-5110-000 Building Inspect Salaries 163.80 100-242-5307-000 Gas Inspector Fees
100-241-5110-000 Building Inspect Salaries 250.00 100-221-5112-001 Forest Fire Wages - P#2
100-291-5595-000 Civil Defense 25.00 100-292-5595-000 Animal Control Expense
100-296-5112-000 Waterways Wages 750.00 100-296-5302-000 Waterways Expense
100-306-5692-000 Whittier Reg'l Assess 24.85 100-299-5420-000 Parking Clerk Expenses
100-427-5530-000 Highway Maintenance 5,000.00 100-420-5112-000 Highway Labor - Wages
100-513-5400-000 Board of Health - Expenses 1,384.65 100-510-5112-000 Board of Health Wages
100-513-5400-000 Board of Health - Expenses 4,497.24 100-513-5400-001 Public Health Services Expense
100-513-5400-000 Board of Health - Expenses 1,750.00 100-429-5433-000 Town Garage Main. Expense
100-610-5112-000 Town Library - Wages 2,625.00 100-610-5420-000 Town Library - Expenses
100-549-5190-000 Chapter 59 RE Reduct over 60 175.00 100-916-5174-000 Medicare Town Expense
100-192-5430-000 Town Hall Maint - Expense 4,580.75 100-243-5307-000 Plumbing Inspector Fees
100-220-5307-001 Call Fire #2 3,759.84 100-211-5420-000 Police - Expenses
100-543-5770-000 Veteran's Services 5,000.00 100-137-5420-000 Finance Expense
100-631-5112-000 Lifeguard - Wages 500.00 100-631-5595-000 Lifeguards - Expenses
100-220-5307-000 Call Fire #1 2,220.00 100-2205112-000 Fire Prot - Wages - P#1
42,785.91
LINE-ITEM TRANSFERS
Total Balance Transferred
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