HomeMy WebLinkAbout1987-10-01 Finance Committee Minutes FINANCE COMMITTEE
Meeting 10/1/87
Present: Allen,Greene,McMenamin, Burditt, Catalfamo L"ch,Harrison,Haskell
Absent: Mucci
The meeting was called to order at 7: 40
Peter Hechenbliekner was present to make the official presentation,
as required by charter, of the Warrent for the Nov. own ee ng.
There was a brief discussion of the articles, which total about
96, 900. excluding the article for the Municipal Space Comm.
The Chairman appointed R. Mucci to the Town Managers Committee
being formed to implement a Central Purchase Order System for the
town.
Bill Burditt will fill in for Brian McMenamin at the Budget
Format Committee meeting on 10/7/87.
The meeting schedule for completing work on the Fall Warrent
is as follows:
10/6/87 In employees Lounge - To vote on most wareent Items.
10/13/87 In the Selectmens meeting Room. Joint meeting with
Selectmen for presentations by the Fire Study Comm.
& the Mun. Space Comm,. -
10/15/87 Meet in Selectmens Offices - To vote on Fire Study
Comm. and the Mun. Space Comm. articles.
Chairman Allen then updated the committee on atems which may have
a financial impact. The following were discussed.
Impact of the next few major Capital projects on the
towns ability to bond. (Will bond 4.514illion in Nov 1987,
& will need to bond Town Hall 3.9Mi17, and Fire Station 2.5Mi14
How to best schedule projects taking into account their effect
on Operating Budgets, Tax Free Bond Status etc.
Sale of Real Estate Funds were discussed and the possibility
of filing special legislation to combine InteresT & Principal other than
into oncfund which could be used for purposes
Capital items (eg: payment of debt, Pension Liab, Work Comp
fund etc)
- The Municipal Light Dept, Unfunded Pension Liability and
several general items were then discussed.
The Chairman then turned the discussion to thh Municipal
SpaceCommittees' plan for a Town Hall Connector. After a
brief discussion he was politely informed that the Committee
would prefer to discussthe subject after the presentation
on 10/15 by the Mun. Space Comm.
Motion by R. Lynch to adjourn, Seconded by R. Harrison
VOTE 8-0-0
Meeting adjourned 9: 30
Temp.Sec.
Don Allen