HomeMy WebLinkAbout1988-11-16 Finance Committee Minutes �� .
< \ 1 \, ® "NCE \daMEETING ROOM
ABSENT DEANE HASKELL, L17 , F.,ANDY HARRISON
MEETING CALLED TO ORDER 7 : 35
RFTI':LEa - THE _: e e PORTION OF uEMETERY LAF40
AT cHARLES LAWN , WAS DISCUSSED.
PREVIOUS STI ANSWERED s
aOTHER ABBUTTERS HAVE BEEN
ARE NOI INTERESTED IN PURCHASING THE LOT.
2. THE TIFIX REVENUE REALIZED WOULD BE ABOUT
l,oO.uQ FER YEAR IF THE PURCHAI-ER ADDS
TO HIS HOME � AS HE PLANS TO DO,,.
ISALES PRICE FIF .{E% � � >
AHU THE TOWH MANAGER. IN THE FAST SlJuH LOTS
THE . SOLD s s,mFOR /:z TO BE
LES,- THAN Z1.1710 PER _:;1Q. FT. IF THE LAND MIGHT BE
GIVE14 TO CONSERVATIOH COMM.
1HE FINANCE rOMMITTE Ea ART s c.SFILEe . e
LAHD Fl-F, AH AMOUNT F40T _ES� THAh T5, jjj. BY A VOTE OF 5-1-0.
NEW AIR HANDLERS 11715, 000
FS;BESTOS FEMOVAL 200 000
4w I 10� cH CH \ AllifUHT WOULD���/.�c
r '
R.F-FIDINQ FINCOM BEFORE THE NEXT TOWN MEETIII
IT SHOULD HOTED THAT THE ORL3IHAL BONGS TO BIJILD THE
4OCATIOHAL SCHOOL WERE PAID OFF IN FISCAL 1327. THE
R:EC:IJCTLIH IN DEBT SEF.:'JICE CHARGED TO R.EADIHG BY THE YOKE FOR
FISCAL 19::: WAS APF'FO}C. $12 . 01 . ALSO OUR SHARE OF TOTAL COST
IS RECUT 5.�...
THE CHAIPMAN ALSO REPORTED Ohl A MEETING OF THE PF-NSLJN
REFORM COMMITTEE WHICH IS TP.YING TO DECIDE IF THE TOWN
SHOLILD ACCEPT THE PRi IS.t ON9 OF THE PENSION REFORM ACT.
THE GI_I:_:T:i OF ACCEPTING THAT RCT ARE AS FOLLOWS PER YEAR :
1. I1411 DEPENDENTS A_LFWANCE T i , GOO.
2. LRDIHAPY OISAB. ELIGICILTY REDUCED
FROI"I 11.5 YEARS TCI IO YEARIS. o, GOO.
REMOVAL OF -tiO,OAO CAP ON COMPLITATICIN
IIF -EhJ':i:ION BENEFITS la_:.COO
4. ELECTIVE CONTR:IB. OF MEMSERS 1OVF_F' 749
. FTTHE:-S .5. WELLNESS: Pr"eOGR.AM!" ,0C90
"fH LI R:EGIU IF'EI'9E1'dT WHICH IS TO FUNGI THE ---------
UNFUNDED PENSION LIFIC. DURA 410 YEARS I3 T III TOTAL
ALREADY E:EIHG DONE BY FIEADIHG.
TN RETI IRN FOR ACCEPTING THE RBOVF_. : TATE FUNDING IS A';+AILASLE
L Tn HELP OFFSET COME IREADING, FIRST YEAR: :;:HARE WA.1
4IiRIGINALLY ESTIMATED FIT ABOUT 3:1�5, II HOWEVER WITH THE
STATES FIHFIHCIRI_ DIFFICULTIES AHD SEVERAL OTHER ACTIONS BY
FIEAEIINu, ':_ITCH H3 .?DINING THE STATE "PENSION RESERVE
IHVESTMEIJT TF'IJ'=T" THE I MOUH"f OF THE GFEINT WOULD F'ROE:AF'LY CE
MUCH 1-HE PFII i.F'lli _IH AND THE HE ':T C;IHAIRMAI•I WII_I_
ATTEC F T I EFP F H ICOM IF 7'iI DATE ON THE `ICT ION-' OF THE
I:SI!314 FFOF:N CiI
THE C II I T +: WI d L !J:17. TO NOTE THAT THAI.: HL. I :,LE :_?, THE
CUFRIENT TOWN NEETIhiO HA!" AGREF_D WITH ALL OF F'IHI:ONS
R:ECOMMENDATIOH1-'. (ARE WE GOOD, OR WHAT
"i
DON A_I_EN,
CHAIRF'ERSOH AND FART--
TIME CI_F.R:I:: CIF FINOOM