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John Pelkey called the meeting to order at approximately 4:30 p.m.
Members Present
Matthew Galligan, Town Manager
Michael Gantick, Director of Public Works
Lisa Maneeley, Chairperson, Board of Education
Kevin McCann, Town Council
John Pelkey, Mayor, Town Council (Chairperson)
Janice Snyder, Board of Education (Vice Chairperson)
Craig Zimmerman, Board of Education
Members Absent
Dr. Kate Carter, Superintendent of Schools
Janice Favreau, Town Council
Patrick Hankard, Dir. Of Facility Services, Board of Education
Donna McKenty, Business Manager, Board of Education
Guests Present
Walter Summers, Fire Marshal
Scott Roberts, Director Information Technology
- Approval of Minutes of Previous Meeting: None
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Capital Improvement Program (Stabilization Fund) Town Manager Galligan suggested coming up with a plan for projects where funding comes from the general fund, grants or stipulations, and from bonding. On plans for bridges, roads and bigger projects, it would be beneficial to hold a public hearing to present what has to be done and gain feedback and support from the public.
When submitting budget items, we need to have a clear summary of what the project will entail. A cost estimate, the method of financing, i.e. general fund, bonding project, grant project, etc. It is important to know what the annual cost of operating and maintaining the project will be and to look at the cost savings and return on investment. At the end of the year we should have a record of what projects are under-expended, completed, or abandoned because we find that our cost estimate was over budget and rebudget that money. Come year end, the Department Head should submit to the Finance Director an update on where the project stands, is it complete, what is the balance left, if any, and what projects should be abandoned. This report should be given to the Capital Projects Committee and put into a Capital
Stabilization Fund.
Town Manager Galligan explained special assessments whereas, work performed by the Town for a homeowner, i.e. sidewalk repair, could be assessed over a 5-6 year period and homeowners in that particular neighborhood would be assessed as opposed to the entire town, which is the current procedure.
General fund debt service will be approximately 10% of the General Fund Budget. Capital expenditures will be approximately 5% of General Fund Budget.
There are some items in the capital budget that need to be reviewed. They are maintenance related and belong in the operating budget.
One of the committee members asked Town Manager Galligan to consider an administration type of plan where we would break down the stabilization plan and allocate certain percentages to various departments.
Town Manager Galligan asked for Mayor Pelkey’s input on what changes should be made before going before the council. Next meeting will be on March 30 and at that time we will review and draft new policy and have everything divided in to categories.
Attached is information submitted by Town Manager Galligan to the Capital Projects Committee on the development of a Budget Stabilization Fund. Please refer to Exhibit A.
5. New Business
NONE
6. Old Business
NONE
7. Adjournment
Ms. Snyder made a motion to adjourn at 5:43 pm. Mr. Galligan seconded that motion; and it was approved unanimously.
Respectfully submitted,
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Darlene Lehofer
Recording Secretary
Attachments: Exhibit A
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