HomeMy WebLinkAbout2001-11-01 Finance Committee Minutes-'C1 1fr
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2001 DEC I q A 9: 3 U
FINCOM Minutes
Financial Forum
Reading, Massachusetts
Regular Session November 1, 2001
Call to Order
FINCOM Chair McDonald called the Finance Committee to order at 7:35 p.m. in the
Parker Middle School Multi-Purpose Room. School Committee Chair Twomey called
the School Committee to order and Selectman Vice-Chair Anthony called the Board of
Selectmen to order. The list of those in attendance is attached.
FINCOM Chair McDonald stated that this was an informational meeting for the three
boards and no action items were on the agenda.
The Finance Committee presented former Finance Committee Member Carol Grimm
with a gift to thank her for her years of service.
Town Accountant Richard Foley updated the Forum on the revenue forecast.
Town Manager Peter Hechenbleikner reviewed the list of unknown expenses such as
fuel, special education, health insurance, unemployment litigation and the landfill
closure.
FINCOM Chair McDonald asked about the possibility of employees paying a larger share
of the health insurance costs.
The Town Manager advised that percentage that the Town pays for health insurance is
low when compared to surrounding communities. He also stated that the percentage is a
negotiated item.
Selectman Vice Chair Anthony asked about revenue from special education programs.
Superintendent of Schools Dr. Harutunian advised that tuition of approximately $100,000
was generated this year. He stated that he could not expand the programs due to a lack of
space.
The Town Manager updated the Forum on the landfill.
Superintendent Harutunian updated the Forum on the elementary school litigation.
Regular Session 2 November 1, 2001
The Town Manager discussed the delay in the state budget and the estimated local aid for
this year and next year. He discussed two possible reductions in state aid, SBA
reimbursement and Chapter 90 money.
Selectman Vice Chair Anthony asked Beth Klepeis for an explanation on why it is
necessary to spend $186,000 for the Barrows' project now.
Ms. Klepeis stated that federal regulations require that the funds be spent or the loan be
repaid before December 31St
The Town Manager reviewed the budget calendar.
School Committee Chair Twomey explained the School Building Committee's reasoning
for considering a special election for the high school project. He stated that the cost of
the delay in the project well exceeds the cost of a special election.
At 9:00 p.m. the Board of Selectmen and Finance Committee adjourned.
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Secretary
SIGN-IN SHEET FOR THE BOARD OF SELECTMEN MEETING
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NAME
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