Town of Newbury
Finance Committee Meeting
Tuesday October 16, 2012 at 7:00 pm, PITA Hall
Meeting Summary
Committee (alphabetical): Gene Case (Vice Chair), Bob Connors, Larry Guay, Erica Jacobsen, Frank Remley (Chair)
Ex-Officio: Tracy Blais, Town Administrator/Finance Director
(NOTE: Meeting conducted during the 4.6 RS earthquake.)
1. Sept 18 and Oct 4 Meeting Summaries: Both were unanimously approved unchanged.
2. September YTD Revenue and Expense Summaries: Both revenues and expenses through September are on target, with no significant deviations from projections through the first quarter. Revenues are $275,851 ahead of collections at this time in FY 2012. This is due largely to advance RE tax payments, continued collection of delinquent taxes, and increased fees and permits.
3. Reserve Fund update (Town Administrator): No significant or outstanding issues. All collections are on target, and expenditures as planned.
4. Capital Planning Committee update: Bob Connors, CPC Chairman, gave an overview of the current capital plan, and the upcoming STM warrant articles, 3 through 6. Since these articles were discussed and recommended in the Oct 4 special meeting, no further action was needed.
5. Discuss preparation for 10/23 STM and 11/6 override: Frank Remley provided an overview of PowerPoint slides proposed for the STM on Oct. 23. After some discussion, and several suggested edits, as well as moving one slide to the “additional slides” category in the effort to keep the presentation short and simple, all agreed on the package as is.
6. Next Meeting: Tuesday, Nov. 20, 7:00 pm, Library (Tentative)
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