HomeMy WebLinkAbout1988-02-12 Finance Committee Minutes FINANCE COMMITTEE MEETING 2112/88
ABSENT+ GREENE , LYNCH. HARRISON,
LATE: MUCCI
MEETING CALLED TO ORDER AT 7:45 am
PRESENT WAS BILL HUGHS AND PETER HECHENBLIEKNER TO REQUEST A
RESERVE *FUND TRANSFER OF $500.00 TO THE RECREATION DIVISION
FOR SALARIES TO BE PAID TO OFFICIALS FOR READING YOUTH
BASKETBALL.
THE OFFICIALS HAVE BEEN PAID OUT OF GATE RECEIPTS AND THIS
IS ILLEGAL. GATE RECEIPTS SHOULD GO TO GEN. FUND AND
OFFICIAL• BE PAID FROM A BUDGETED LINE ITEM.
MOTION TO TRANSFER 500.00 MADE
MOTION TO AMMEND TO $800.00 DEFEATED BY 1-4-0
MAIN MOTION FOR $500.00 APPROVED BY VOTE OF 4-1-0.
THE TOWN MRNA3ER THEN PRESENTED HIS CAPITAL IMPROVEMMENTS
PROGRAM IN A DRAFT FORM AND ASKED FOR COMMENTS ON THE
FORMAT.
SOME SUGGESTIONS WERE OFFERED AND NOTED BY THE T.M. BUT IN
GENERAL THE MEMBERS AGREED WITH THE BASIC FORMAT AND LOOK.
FORWARD THE THE FINISHED PRODUCT.
THE TOWN MANAGER THEN WENT OVER A DRAFT OF THE SPRING TOWN
MEETING WARRANT AND THE SPECIAL TOWN MEETING TO BE HELD
WITHIN! THE SPTRING TOWN MEETING.
THERE ARE SEVERAL ITEMS WHICH WILL REQUIRE FINCOM ACTION.
MOST IMPORTANT OF WHICH ARE.
. AUTHORIZE VOCATIONAL SCHOOL BOND
TRANSFORMER REPLACEMENT AT SCHOOLS
FIELD HOUSE ROOF, SCHOOL ASBESTOS MGMT PLAN, SCHOOL DEPT
RELOCATION PLAN.
TRANSF. PEARL ST SCHOOL TO SELECTMEN, SALE OF PERRL ST, or
CONVERSION OF PEARL ST. TO TOWN HALL,FUNDING REPAIR. OF TOWN
HALL. , BUDGET,
WITHIN THE SPECIAL WILL BE THE FOLLOWING WARRENTS.
REZONE BEAR HILL, FUND SHORT TERM INTEREST, MEDICAL INS.
ADDITIONAL PREMIUM, MEDICARE ADDITIONAL EMPLOYER SHARE, 1988
53RD PAYROLL.
DISCUSSION THEN TURNED TO THE BUDGET RHO SEVERAL ITEMS WERE
BROUGHT OUT? THE ASSESORS HAVE AGREED TO REALEASE 358,000
FROM THE ABATEMENT SURPLUS, THE REAL EST TAX REVENUE WAS
ADJUSTED UPWARD BY ABOUT $73,000, THE GRANTS RECEIVED BY
SCHOOLS TO OFFSET SALARIES HAVE DROPPED FROM $335,000 TO
$140,000.
THIS BROUGHT UP THE QUESTION OF WHY THE SCHOOL DEPT HAD
INCLUDED STEP INCREASES <RBOUT 1% OF TOTAL WAGES) WITHIN
THE BUDGET REQUESTS WHILE OMITTING ALL OTHER NEGOTIABLE WAGE
ADJUSTMENTS. IT IS FELT THAT THIS IS ALSO NEGOTIABLE AND
SHOULD NOT BE BUDGETED AS IF IT WAS ALREADY FACT.
THE TOTAL BUDGET DEFECIT HAS INCREASED TO ABOUT $1,200,000
AND THE TOWN MANAGER WAS QUESTIONED CLOSELY ABOUT THE BASIS
OF MANY OF THE BUDGET FIGURES. TO BE FAIR HE WAS QUESTIONIED
MORE ABOUT THE SCHOOL BUDGET THAN ABOUT HIS OWN BUT HE COULD
ANSWER MOST OF THE QUESTIONS.
THE NEXT MEETING 2x'16 IS SUPPOSED TO BE THE MEETING AT WHICH THE
TOWN MANAGER PRESENTS FINCOM WITH 1985 BUDGET, HOWEVER HE MAY BE
SEVERAL DAYS LATE.
MEETING ADJOURNED AT 10:30
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