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Board of Library Trustees <br />Budget Council Meeting , . <br />Parker Middle School <br />March 18, 1999 l 1 1, 1 <br />Present: Ms. Maria Silvaggi, chair; Mr. Stephen Conner; Ms. Cherrie <br />Dubois; Mr. Richard Ogden, Dr. Christine Redford. <br />Peter Heckenbleckner explained the Projected Revenues general Fund. <br />The Finance Committee recommends removal of the following items: <br />Demo of old Police Station <br />DPW garage on hold <br />Fire pump engine <br />The shortfall is to be split between the schools and the municipal side. <br />Free Cash Analysis: <br />$47,492,712 operating budget proposed by the Finance Committee. <br />$521,000 preserved free cash <br />$150,000 reserved fund <br />$754,000 regeneration <br />The bond rating is of concern. <br />Projected Fiscal 2001 is a wake up call. It's a bare bones budget. Some <br />feel that the town will not be able to survive without a Proposition 2 <br />1r2 override for next year. The Finance Committee did not fund any <br />new positions. <br />State Aid may be available in ,June(july. Then there will be an attempt <br />to add back what has been cut from the budget. <br />Each Board met to discuss the Finance Committee's proposal. All <br />Boards voted to accept the proposal. The meeting adjourned at 9:30 <br />PM. <br />