Finance Committee Meeting
3/20/06
Minutes
The meeting was called to order at 7:30 p.m.
In attendance: Eric Munson, Jr., Wes Greene, Jim Deming (late – in Planning Board meeting), Mira Munson, Ted Locke, David Barney, Ralph Ledger and Margaret McClellan. No absences.
Margaret had prepared the FY2006 YTD Expense Budget Report, a list of FY ‘05-‘07 Salaries, and the FY ‘07 Budget Numbers to Date. These were distributed to Committee Members. Mira had spent some time reviewing the warrants and actual invoices of DPW Public Works and Winter Roads Expenses to date for ‘06 . She had prepared these figures for the Finance Committee to review along side of the DPW ‘07 Request presented at the last Finance Committee Meeting. These figures were distributed to the Committee and Selectmen. The Animal Control Budget was also distributed.
Eric noted that the Police Dept. Expenses of $17,111 in the ‘07 Budget were incorrect and should be $8,985.00.
Ted had refigured our capital debt service number for 07 and reported that it would be $41,962. He had used a rate of 5% interest and had included payment for ‘06 expenses as well as payment for ‘07 capital expenses.
The Committee briefly reviewed Jim’s preliminary numbers which indicated the amount the Town needed to raise and estimated receipts and other revenue sources. Due to a significant increase in Cherry Sheet receipts (due to State errors in past value determined for state land) it would appear we will not need an override this year. However, many figures including the school budget are not final yet.
The committee spent the remainder of the meeting discussing the DPW budget as it compared to the actual detail to date. In general, the committee wanted a more accurate budget with goals, actuals projected for 2006 and a more detailed budget for 2007. It was felt that an inventory of the DPW tools, equipment etc. needed to be taken. Wes agreed to meet with John and see if he could help him develop a more accurate budget related to specific needs. Use of Chapter 90 money was also discussed. It was felt this needed to be used for specific projects that needed to be done and not used up on equipment and tools etc. The committee asked for an assessment of roads and a list of Chapter 90 projects for 2006-2007 feeling that Public Works, Winter Roads and Chapter 90 budgets should work together
to meet the needs of the Town. It was felt that Chapter 90 money could be used to pay for additional help needed for a project but not for employee salaries already budgeted for by the Town. Wes agreed to have something by our next meeting.
The Committee scheduled their next meeting for Monday, March 27 at 6:30 P.M.
The meeting was adjourned at 9:00 P.M.
Respectfully submitted,
Mira K. Munson
Secretary
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