HomeMy WebLinkAbout1988-07021 Finance Committee Minutes FIHFIHCE CIJNMITTEE MEETING JULY FT LIBF:FIF:4'
CONFERENCE ROCIN ABSENT F . HAF:R I'SON
MEETIHO CUHVENEO AT 6' 07
THE IGMNITTEiHAS .INTRODUCED TO THE TIDO NEW NEMBERI;l MR FI
TRFT PORTER. ARID P1R:. PAUL DEVLIN
FRESEHT WERE THE TOWN PIANAGEF' HND MF:. DAhJ EN:SMINGER OF THE
CF'C'C:. THEY PRESENTED A F:EQUEST FOR R RESERVE_ FUHG TRANSFER
OF $1 , 200-130 TO CPDC EaFPENSE5 FOR R TRAFFIC, HOIJE, ETC
: TUDY REL.iTIVE TO THE PR:OP'OSEG NEL-4 CR6:WASH ON MAiII ST. THE
FEES PRIG BY THE PF.OPO. EF. 1101<,E THAFI OFF=4F_T THE COST OF THE
STUD'*' BUT AF'.E IH THE GENCF'.AL- FLIP 10. _PCC HHD BUDGETED NO
FUHDS FOR THIS STUDY.
AF'F'RO'JED RES. FIJF{D TRANSFER TO CPOC EXFEHSES IFI THE RMOUNT
1.1EL 2t:Itj,Cu_i EV A VOTE OF 8-2-0.
THE AEUVE REWIJE:'=T EF:iJUGHT FBOUT A D1::_a=U;S3JOtJ OF FEES CHARGED
FOR SITE PLAN REVIEW.' FIND HOW THEY COULD BE HFIIDLEO MORE
E:FFSCIEWTI_Y. 1:T 1'11UHT BE NOF.E TO SET IIP A FJF:N
1. IRE C VING FJNU FOR F E_ IF THE LOST OF SITE REVIEWS
--U_ l4i-L_ I'A;PE I_L!._ THAN THE, FEE CHRF:GED THE EXCES:E WOULC1 THEN
..E FI 'RILIA LE FOR REFI-1111i ::IIFTER PFLLPER CHARGES FOR THAT
REVIEW WERE COMFMTED ' IIHL� WOULD HID THE SODUETIHO FFUCESS
AND MIGHT EE A USEFUL_ TOOL FOP THE FINANCIAL RREAC FIND FOR
u W E.FISMINDER. WILL LI OI?: II'ITO THE ME l OOS USEE FY OTHER
Tl_!b041_1 Al IJ :..O14 AL _ELJ IL.t_ HL_SO 1 EOh:: FITS -1 NFaJE`=:.
1
T,_11H IFii_ [;-104 R '- ITED THIC FL, 11C011 WITH HIS -JILEI'91`{A
JIF7 -If ff:F nn1 fl4'li -1 r 'T.7
F 1 6'GII E :.,"dI r 1': 11111 1 111 1 ;.?tt IIIJLI 191^.:E=.
CL -- i -, j.0 1F{ THF DPW =:AT ITA L BUDGET FOR F .FI I ; IHG THE
LFi°;F lrLT.L:I h-0.. LOT. THE TOWI-{ NI11UIC,ER 1_191y LEUFILL' USE THESE
F IILLD.S FUEL ROOF REPAIR'S TUT FEELS AICOMFO=:TABLE LA:>ING FUNDS
FOf-< PIIF:Pll: :ES OTHER THAN THE 1=URF'O>SE FOR. WHIL_H THEY WERE
OR'IGIFIALLY DESIGNATED.
AFTER DI 1I '-:3IIiN FIFll_OM DECIDED THAT THE ROOF HAS: R
HII,HEF PF:10RITY ITEM TFIF114 THE PFIRF IHl LOTNU F'I_IN INTENDED)
FIND SF! ORDERTO AlOID DULI_DING HHO COOK: OFtt FIC+F_ T-HF_ FUNDS
IP.i_ I' �INFLL HEANT FOR. THE FUFI::IH., LIT :3HOULC BE USED FOR ROOF
IT WFI' NOTED Tlin-r THIS ACTION 'dHOULO BE WELL
FU IL : - ED RHO FILL INTERESTED PRIT E;' NO '"II IEII SO THERE
W!'ULD BE NO f-NNT OF AIJYTHIFIG BEING 0014E IN AN INF'ROF'ER. LIA'i.
TATE REPRESE11TATIVE JEFF OECICWITI ARRI:':'FO JUST I19 TIME TO
IFI:b EF: F :HC'OM G UE. TIONS PI L RRI_I I W_ THE RECENT CLT IFI STATE
FID OF I, MILLIOH DOLLAR FU'1_i1MFLISHEG G4 THE :DTATE KEEPING
THE E:=11 F '.- LOTTERY COLLET 121113 RIHIHERTHAN DTTF'IhIITIHG' TCJCJWN
-S HA, NAYS BEEN DOF{E IN THE FAST. THE ESTIMATED COST TO -
PEADIIIG FOR FISCAL 1589 (.WHICH 01JULD HAVE BECCIME FREE CASH
IN I:7, 50, 0010 TO 150,+300. REP EECKWITH STATED HE FELT
THAT THE LF_GISLATUR.E WOULD PROBABLY RE'JE:SE THIS IN ITS NEXT
SESSION.
HE WAS NEXT uUESTICNED ABOUT THE TF:A:SH DISPOSAL (RESCO)
PROBLEM. AT FF.:E.SENT R.EADIFIG HAS BUDGETED FOR
DISPOSAL IN F.'Y 5:3. THE POSSIBLE ADDED COSTS OF RESCO ADDING
SCRUBBERS TO ITS STRf>:S ARE AS FOLLOWS.
1 . READING.'E SHAF.E OF 2OMILLION TO REPLACE SCRUBBERS WOULD BE
ABOUT 4350,000 PER YEAR. FOR 10 YEARS.
L. COST OF ALTERNATE DISPOSAL WHILE RESCO IS "DOW11" FOR THE
F:EF'AIRS WOULD BE ABOIJ'" 461 ,000 ADDITIONAL PER MONTH.
SAUGUS #1 .00 PER. TON TAX WiWLD BE ABOUT 41.5. 000
ADDITIONAL PER. YEAR.
4. A :_% ENVIOP..NMENTAL FUND TFL: AT AN ADDITIONAL %12,000
HAS BEEN ENACTED AFID IS 11:1 THE BUDGET OF 3221 . 500.
MR. E:F_Ci IHt TH COULD NOT STATE WITH ANY CEF:TAINTY IF ANY OF
THESE COST WT.LL BE HBSOFIBEO BY THE STATE. HE FEELS THAT THE
t'IO:ST I_.:[I'ELY TFURSE WII-L BE TO DELAY IMPLEMENTATION DATE OF
FOR EEVEF:AL YEARS . READIF413:3 BUDGETS: STARTING WITH
F/Y <? C011l-D BE 'VERY HOVI=F?ELY RFFECTED.
BF:IAN PICPIE-HFil1IN GA'dE A F;-'F-OFT ON THE 31-HOOL SPACE COMMITTEE
WHICH AT THIS PO:[HT -AFI BE SUMMED LIP BY STATING THE TOWN
WILL FIEED ADDITIONAL CLASSROOM:-.. THE PEARL ST SCHOOL IS
PROBABLY hIOT LiSEABL.E. AFTER A FORCAST IS COMPLETED THERE
(JILL BE A BETTER GRASP OF WHAT IS NEEDED (.AHD EVENTUALLY THE
CO2T) FOR E:':PANDING F_NFIOI_LMEHT.
1 '.: f f •IF _ Ti;HTTNE_ Y i'il^I'IITTEE.
-Ac i '. :CJLII_ED' ii .: A I F7:NG SCON I=IFID !1(: EL i.F.T' 1=I"" A LA' FF:
DA-1 E.
TAFT F'i:F:TEF: VOL."'14TEEF:ED '.. . ) A3 ':IEi'IDEF'. OF THE AUDIT COMMITTEE
AND THEREBY JOINED THE AIJGIJST COMPFiNY DF C:H1I1RMAH GON ALLEH
VICE C:HAIIF:MRFI BF'I AI! MC:I9EhdHt1II•I.
THE CHIRITHAl'! BROUGHT LIP THE A,UESTICIti OF WHEN TO INVITE THE
MIJ1.I7:1- IF'AL ELECTRIC BOARD AND THE ASSESSORS TO DISCUI 5
FINANCIAL MATTERS. MUNICIPAL ELECTRIC FOR THE WILMINGTON
SITUATION AND THE As SES:3OP.8 FOR I1,1FOPMATI1-iN OW REAL ESTATE
TA'.; CL.RSSIFICRTI011.
THE CHAIPMAN L•11=1S TAI(Ell TO TASK FOR LETTING THE R/E TAX CLASS
DRIAG FOR SO LONG. IT WAS FIF:ST F•.AISED IN OCT.- NOV OF 158?.
HE WAS NOT QIJII- : ENGII13H TO THINK: OF AFlr PLAUSABLE F_kCUBES
ALTHOUGH HE HAS PLENTY READY NOW ! ) AND HEFIC:E STATED HE WOULD
SET UFNEF_TINGS AS :'OON AS HE COULD. THE l°A.IOF'. ODSTICLE TO
MEF.TIHC' IS FINDING EMOUGH FIHCOM MEMBERS IN AUGUST TO COUNT
ON THE FINGEF:S OF SHE HAND (THAT:--: A
4`—.-_—
TH'ERE WAS SOME tlOF:E AIMLESS DISCUSSION A LITTLE SOCIALIZING
AND THE MEETING WAS ADJOURNED AT ll3 , 100
F.'.E'SPECTFULLY
D3NRLD ALLEN,
7:MPEFIMAHEHT