HomeMy WebLinkAbout2002-12-17 Finance Committee Minutes( Finance Committee Meeting
December 17, 2002
The meeting convened at 7:30 p.m. in the Berger Room at Town Hall. Present were
Chairman Catherine Martin, Vice Chairman Richard McDonald, Fincom members Karen
Epstein, Andrew Grimes and Chuck Robinson. Also present were Town Treasurer Beth
Klepis, Town Accountant Richard Foley and School Committee member Pete Dahl.
Liaison Reports
School Building Committee: Andrew Grimes: The last meeting was held with the
architects to discuss the presentation for the 1/13/03 special town meeting.
Audit Committee: Richard McDonald: The results of the final KPMG audit were
favorable as to how the town is handling finance and accounting. This is their last audit
as the service is going out to bid and KPMG may not be involved in the process.
There is a push to have a more active Audit Committee. A lot of work is ahead in
picking the new auditor and combining RMLD and the town on a go forward basis. The
Light Board is to meet on 1/9/03 to discuss and Richard Foley stated that the RMLD
( ) contract expires 12/02.
There is also a possible Bylaw change to add a member of the Light Dept. to the Audit
Committee
Town Talk: Karen Epstein: This is a new group formed to help get the community better
informed as to budget issues, projects etc... Cathy Martin and Camille Anthony also
attended this meeting.
The group has also met with Voke students to discuss using them to do graphics etc...
Funding for "Your Community Connection " is to be determined. Goal is to be able to
include in water and sewer bill. Would like this to be in March mailing. Would also like
to hit all modes of communication e.g. library, town papers, web and local businesses.
Ideas for future articles are welcomed.
Cathy Martin then opened discussion on the budget with regards to revenue
enhancements and expense reductions.
Trash Fee: Cathy Martin feels a trash fee should be discussed. Flat fee per family or pay
as you throw. Karen Epstein was open to both optionsChuck Robinson stated he lived a
community that had trash stickers and it worked very well.
Debt: Karen Epstein stated that the new school should be considered as debt exclusion.
Beth Klepis said it was legally possible. Look at all debt as an exclusion e.g. Police
Station etc...
Health Insurance: Beth noted that the Health Insurance Advisory Committee was to
recommend an 11 % increase to Peter. Co-payment to remain the same. Discussion was
held as to future savings with parameter changes.
Land Inventory: Discussion was held as to the review of all land inventories for potential
sales of assets.
Regional Services: Chuck Robinson noted that this has come up in the past but was
never palatable due the fact that surrounding communities were not having the same
economic problems. With all that is going on maybe this should be reconsidered.
Re-Allocate the $3,000,000: Discussion on whether this should be revisited to consider
for unfunded revenue etc...
RMLD: Karen Epstein asked if we are getting paid enough by RMLD. They have the
value of our bond rating.
Cathy Martin requested a report on parking from Peter.
Andrew Grimes made a motion to adjourn, which was seconded by Richard McDonald.
Vote 5-0
pect submitted,
Secretary
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