HomeMy WebLinkAbout2002-03-25 Finance Committee MinutesFinancial Committee Meeting
March 25, 2002
The meeting convened at 7:30 p.m. in the Conference Room, at Town Hall, 16 Lowell
Street, Reading Massachusetts. Present were Finance Committee members Richard
McDonald, Catherine Martin, Mary Grimmer, Karen Epstein, Andrew Grimes, Robert
LeLacheur, James Francis, Chuck Robinson and Town Manager Peter Hechenbleikner.
On a motion by James Francis, seconded by Catherine Martin, the Finance Cormittee
voted to approve the minutes of their March 6, 2002 meeting, as amended.
The motion was approved by a vote of 8-0-0.
On a motion by Andrew Grimes, seconded by James Francis, the Finance Committee
voted to approve the minutes of their March 21, 2002 meeting, as amended.
The motion was approved by a vote of 8-0-0.
The Finance Committee will tour the DPW garage, the fire station, and the water
treatment plant, on April 20, 2002, at 9:00 AM to 1:00 PM. Please meet at the DPW
garage.
Capital Improvement Program:
( 1 Peter Hechenbleikner recommended using the real estate fund to annually add to the
capital plan. He suggested appropriating $500,000 per year from the $3,000,000 the
Town will receive from the landfill closing. He asked the Finance Committee to consider
what level of expense they would appropriate from the sale of real estate.
James Francis stated the amount spent each year should be less than $500,000, to allow
the money to generate more income.
Andrew Grimes would prefer the "maintenance" items in the capital plan were paid for in
the operating budget and the capital plan was used more for improvements to the Town,
such as curb and sidewalks.
Mary Grimmer stated the smaller items should be in the operating budget, the middle cost
items paid from the sale of real estate funds, and have the larger items a capital exclusion.
Article 8 - Adopting FY 2003 - 2023 Capital Improvements Program
Finance Committee - Action Pending
Article 19 - Amending Administrative Structure - Public Hearing April 9, 201f
Finance Committee - no vote taken.
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Finance Committee - March 25, 2002
FY 2003 Budget
page 2
On a motion by James Francis, seconded by Andrew Grimes, the Finance Committee
voted to recommend line Al Salaries and Wages for $108,735 and line A2 Expenses for
$1,320.
The motion was approved by a vote of 8-0-0.
On a motion by Robert LeLacheur, seconded by Karen Epstein,' the Finance Committee
voted to recommend line B17 Salaries and Wages for $553,844 and line B18 Expenses
for $71,398.
The motion was approved by a vote of 8-0-0.
On a motion by Mary Grimmer, seconded by Catherine Martin, the Finance Committee
voted to recommend line C 12 Salaries and Wages for $464,138 and line C 13 Expenses
for $357,609.
The motion was approved by a vote of 8-0-0.
On a motion by Chuck Robinson, seconded by James Francis, the Finance Committee
voted to recommend line D14 Salaries and Wages for $276,226 and line D15 Expenses
for $353,775.
The motion was approved by a vote of 8-0-0.
On a motion by James Francis, seconded by Andrew Grimes, the Finance Committee
voted to recommend line El Salaries and Wages for $666,330 and line E2 Expenses for
$150,670.
The motion was approved by a vote of 8-0-0.
On a motion by Robert LeLacheur, seconded by Catherine Martin, the Finance
Committee voted to recommend line F9 Salaries and Wages for $5,634,855 and line F10
Expenses for $311,451.
The motion was approved by a vote of 8-0-0.
On a motion by Andrew Grimes, seconded by Karen Epstein, the Finance Committee
voted to recommend lines G9 - G16 Public Works for $3,308,689.
The motion was approved by a vote of 8-0-0.
On a motion by Catherine Martin, seconded by Chuck Robinson, the Finance Committee
voted to recommend lines H1- H4 Building Maintenance for $2,997,993.
The motion was approved by a vote of 8-0-0.
On a motion by Robert LeLacheur, seconded by Catherine Martin, the Finance
Committee voted to recommend line I School $24,808,998 and line J Northeast Regional
Voc. Asmt. $163,287.
The motion was approved by a vote of 8-0-0.
Finance Committee - March 25, 2002
page 3
On a motion by Chuck Robinson, seconded by Andrew Grimes, the Finance Committee
voted to recommend line K1- K17 Debt Service and Capital for $3,918,252.
The motion was approved by a vote of 8-0-0.
On a motion by Mary Grimmer, seconded by Karen Epstein, the Finance Committee
voted to recommend line L8 Employee Benefits for $6,977,410.
The motion was approved by a vote of 8-0-0.
On a motion by James Francis, seconded by Karen Epstein, the Finance Committee voted
to recommend lines M1- M3 Water Fund $2,682,888.
The motion was approved by a vote of 8-0-0.
On a motion by Andrew Grimes, seconded by Catherine Martin, the Finance Committee
voted to recommend lines N1- N4 Sewer Fund for $3,931,233.
The motion was approved by a vote of 8-0-0.
On a motion by Chuck Robinson, seconded by Mary Grimmer, the Finance Committee
voted to adjourn at 9:45 p.m.
The motion was approved by a vote of 8-0-0.
Respectfully submitted,
Joy Mo
Recording Secretary