HomeMy WebLinkAbout1995-02-13 Finance Committee Minutes Finance Committee Meeting
February 13, 1995
The Finance Committee met at 7 :00 p.m. in the Selectmen's
Meeting Room at Town Hall. Present were Chairman Richard
Coco, Vice Chairman Fred VanMagness, FinCom members Gerry
MacDonald, Jim Keigley, Nate White, Carol Grimm, Jerry
Vitale, Steve Blewitt, and Town Manager Peter Hechenbleikner.
Approval of Minutes
On a motion by MacDonald seconded by Keigley the minutes of
February 1 , 1995 were approved as amended by a vote of 8/0/0.
Liaison Reports
Fred VanMagness reported on the RMLD 25 Haven Street Sale
Task Force. Two bids were submitted, one was $375,000.00 and
the other was $50,000.00. Both failed to meet the appraised
value of $450,000. 00. RMLD will request an article on the
warrant to see if some of the bidding requirements can be
adjusted or the minimum acceptable bid can be changed. In
addition they are looking at the possibility of listing the
property with a Commercial Realtor. RMLD is unsure as to how
much flexibility they and the Town has under the law. They
are currently researching their options.
Historical Commission CoChairman Ed Palmer and member
Virginia Adams expressed their concerns about the budget
amount allocated to the Historical Commission. Their budget
has dropped from $2 ,000.00 in 1977 to $200 .00 in 1996. They
are requesting a minimum total of $1 ,200 .00 for FY 1996 .
They provided FinCom with a detailed listing as to why they
need the money and what they will be spending it on.
Town Manager Peter Hechenbleikner provided a copy of the FY
1996 budget to each of the FinCom members. Page 159 (section
LMNO) has the updated revenue projection for 1996 and beyond.
1996 tax levy was adjusted from the state form. The biggest
modification is the abatement surplus. The assessors have
released $280,000 in abatement surplus although we were
anticipating only $50,000 .00. The total budget recommendation
from the Town Manager is $36 ,005,743 .00.
The snow removal budget for 1995 was $175,000.00 and so far
we have spent approximately $65,000.00. FinCom plans to
review the idea of rolling any surplus cash from snow and ice
removal into the future snow and ice removal budget instead
of putting into the free cash pool in order to increase the
snow and ice account.
On a motion by Grimm seconded by MacDonald the meeting was
adjourned at 8 : 15 p.m. by a vote of 8/0/0.
The next meeting of the Finance Committee is scheduled for
( February 15, 1995 at 7 :00 p.m. in the Conference Room at Town
(v Hall .
Respectfully submitted,
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Maureen Vierra
Secretary