HomeMy WebLinkAbout2001-01-03 Finance Committee MinutesFinance Committee Meeting
January 3, 2001
RECEIVED
TOWN CLERK
READING, MASS.
The meeting convened at 7:30 p.m. in the Arnold Berger Room, at the To b ti p 4.. 0 I
Lowell Street, Reading Massachusetts. Present were Chair Carol Grimm, 'Vice Chair
Richard McDonald, FinCom Members Catherine Martin, Charles Robinson, James
Francis, Robert LeLacheur, Neil Cohen, Andrew Grimes, Town Manager Peter
Hechenbleikner, and Asst. Town Manager Russ Dean.
On a motion by James Francis, seconded by Charles Robinson, the Finance Committee
voted to approve the minutes of their April 5, 2000 meeting.
The motion was approved by a vote of 6-0-2.
On a motion by Richard McDonald, seconded by Catherine Martin, the Finance
Committee voted to approve the minutes of their October 21, 2000 meeting.
The motion was approved by a vote of 7-0-1.
On a motion by James Francis, seconded by Charles Robinson, the Finance Committee
voted to approve the minutes of their November 13, 2000 meeting.
The motion was approved by a vote of 7-0-1.
On a motion by James Francis, seconded by Andrew Grimes, the Finance Committee
voted to approve the minutes of their October 25, 2000 meeting.
The motion was approved by a vote of 8-0-0.
Deserve Fund Transfer
Peter Hechenbleikner requested a reserve fund transfer to replace two batteries that are
the back up for the fire alarm system at the new police station.
On a motion by Richard McDonald, seconded by Catherine Martin, the Finance
Committee voted to approve the Reserve Fund Transfer from Account 01-121 Fire
Expenses, in the amount of $697.
The motion was approved by a vote of 8-0-0.
Budget Review
Peter Hechenbleikner stated the Board of Selectmen has reviewed the FY 2002 Municipal
Budget and has made a few changes.
Peter Hechenbleikner reviewed the Summary of the FY2002 Budget listing the following
totals:
Available Increase in Revenue
Increases in Fixed Costs
Projected Wage Increases
Additional Needs
Less "savings"
2,114,025
1,403,814
644,722
102,672
$1,091,305
Leaving a deficit of (2,968,634)
Finance Committee January 3, 2001
page 2
Peter asked the town departments to go back and reduce their budgets by 7%. He will
submit the proposed FY2002 budget on February 15, 2001.
Mary Grimmer arrived at 8:OOpm.
Russ Dean reviewed three different budget scenarios.
The Finance Committee will meet again on January 17, 2001 to review a non-override
budget. Carol Grimm stated that last year a few areas were reduced with as little damage
to the Town as possible. This year there will be further cuts.
On a motion by Andrew Grimes, seconded by Carol Grimm, the Finance Committee
voted that based on the budget figures they have seen the Finance Committee believes it
is in the best interest of the Town to seek additional revenues.
The motion was approved by a vote of 8-0-0.
Liaison Reports
James Francis stated the Library Committee is discussing a new children's wing. They
are only in the preliminary stages and must review the area as a whole before they
proceed any further.
j Mary Grimmer stated the water department will be replacing all the water pipes and are
trying to coordinate this with the street paving.
On a motion by Catherine Martin, seconded by Richard McDonald, the Finance
Committee unanimously voted to adjourn their meeting at 9:30 PM.
Respectfully submitted,
Joy Mohr
Recording Secretary