2015-04-30 Annual Town Meeting Minutes

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ANNUAL TOWN MEETING Reading Memorial High School Preforming Arts Center April 30, 2015 The meeting was called to order by the Moderator, Alan E. Foulds, at 7:38 PM, there being a quorum present. The Pledge of Allegiance to the Flag was said by all in attendance. Motion made by Dan Ensminger, Board of Selectmen to dispense of the reading of all motions in their entirety. Motion Carried Motion made by Mark Dockser, Finance Committee to remove Article from the table. Motion Carried ARTICLE 2: To hear and act on the reports of the Board of Selectmen, Town Accountant, Treasurer - Collector, Board of Assessors, Director of Public Works, Town Clerk, Tree Warden, Board of Health, School Committee, Contributory Retirement Board, Library Trustees, Municipal Light Board, Finance Committee, Cemetery Trustees, Community Planning and Development Commission, Town Manager and any other Official, Board or Special Committee. Finance Committee Report Mark Dockser Thank you Mr. Moderator Mr. Moderator, my presentation may take slightly more than 10 minutes. I would ask permission to speak for about 15 minutes. Fellow Town Meeting Members, members of Town Boards and Committees, and fellow Reading residents, thank you for the opportunity to provide this update to Town Meeting. Overview: Here is a quick overview of what I will discuss this evening. The last few years have been marked by strong leadership in Reading Town Government and the School System. We are the envy of many other communities who often seek out our solutions as a model for their own. Conservative budgeting practices have worked well for us, and we have benefitted from revenues ahead of forecast and cost increases at or below budgeted levels: • Responsible management has lead to the return of unexpended funds in meaningful amounts each year • Substantial regeneration of funds have occurred complimented by conservative budgeting leading to real growth in our cash reserves to nearly 10% at the end of FY'14 and they will probably be 8 +% at the end of FY'15. This has allowed Town Meeting to Fund the Town and Schools with budgets offering, in most cases, close to level services.