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HomeMy WebLinkAbout1993-02-24 Finance Committee Minutes7- O Minutes of the Finance Committee Meeting February 24, 1993 O 3j3t The meeting convened at 7:35 p.m. in the Conference Room, 16 Lowell Street, Reading, MA. Present were Chairman Richard Coco, 'Vice Chairman Fred Van Magness, FinCom members Gerry MacDonald, Jim Keigley, Bill Albro, Bill Murphy, Steve Blewitt. Also present were Town Manager Peter I. Hechenbleikner, Selectman Bill Burditt, Town Accountant Richard Foley, Finance Director Beth Klepeis, Maria Silvaggi from the Chronicle, Bob Brown, Ron Wood, Elia Marnick, Deidre Hanley, Sherry Dubois, Carol Beckwith, Ted McIntire. The Chairman distributed Minutes of the February 9, 1993 meeting; an Agenda; the Library answer to the Audit letter; and the Town Manager's response to the Audit Management letter regarding Police Details. There was discussion on the override approved by the Board of Selectmen. The Town Manager handed out material which outlined the override and its purposes. The suggestion was made that the Finance Committee go ahead with the budget as presented.. If the override passes, then the budget would be deferred with-regard to Town Meeting action until early in May, giving the Finance.Com- mittee time to review and evaluate put backs. Mr. Coco indicated that he feels if the override passes FinCom's role is especially critical to make sure that funds voted will be most properly spent. There was discussion on part of the members as to the na- ture of the override and their thoughts on whether or not it will pass. The Town Manager reviewed the Accounting Department budget. There were no questions and no changes with-regard to the budget. The Finance Committee reviewed the Finance Department budget. There was some discussion on the Reserve Fund amount, but no changes in the FinCom budget. With regard to the Assessment budget, the Finance Committee talked about the monies available and needed for the appraisal. On motion by Van Magness seconded by Murphy the Finance Committee voted to reduce the Appraisal line item from ,$6,250 to $3,000 by a vote of 4-3-0. The Town Manager recommended that if they took that action, they should add that amount of money to the reserve fund. On motion by Albro seconded by MacDonald the Board voted to reduce the Assessor's Travel Reimbursement monies to $750. The motion was approved by a vote of 5-0-0. The technical publica- tion money is to buy a manual which will then be updated an- nually. The Finance Committee discussed the Data Processing budget and there was discussion as to whether or not the allocation to Water and Sewer was appropriate. There was no change proposed. Finance Committee Minutes - 2/24/93 - page 2 With regard to the Personnel budget, on motion by Murphy seconded by Blewitt, the Finance Committee did not vote to amend the Medi- cal Services budget to $3,500 by a vote of 3-4-0. On motion by Van Magness seconded by MacDonald the Finance Com- mittee voted to reduce Professional Development to $10,000 by a vote of 5-2-0. The stated purpose was to allow all the dues and memberships, $1,000 for general training, and $1,050 for all other conferences and expenses. On motion by Van Magness seconded by Keigley, the Finance Com- mittee voted to increase the Tax Title line to $20,000 by a vote of 6-1-0. Beth Klepeis made a presentation on the need for keep- ing Tax Title work up. On motion by Van Magness, seconded by MacDonald, the Board voted to reconsider and vote a new line item for Debt Service in the amount of $1,563,522 by a vote of 6-0-1 with Blewitt abstaining. The Finance Committee reviewed the Library budget. Priorities are for staff compensation and materials. The Finance Committee respected the Library's concerns about keeping staff properly compensated and providing the excellent services that they do. The Finance Committee noted that they are the same issues in all areas of government. The Town Manager indicated that the Library should be looked at in the same manner as education - as a high priority since they directly service the educational estab- lishment in Reading and they are an educational service in and of themselves. He indicated that there are other areas of coopera- tion between the School Department and the Library that could and should take place. Town Manager presented the material on Police Details. On motion by Van Magness seconded by MacDonald the Finance Committee voted to transfer $208 to Police Details to cover two uncollectable Details in the amount of $208. The motion was approved by a vote 7-0-0. The Finance Committee asked that the list of outstanding bills be attached to and made a part of the Minutes. Ted McIntire presented a need for a Reserve Fund transfer for Snow and Ice Control in the amount of $95,000. The Committee discussed whether or not this money should be deferred to next years tax rate or paid out of the Reserve Fund. If it is paid out of the Reserve Fund, then the Reserve Fund will have a balance of only $34,000. On motion by MacDonald seconded by Keigley, a motion to transfer $95,000 to Snow and Ice from the ( Reserve Fund'was not approved by a vote of 4-3-0 (actions by the Finance Committee require 5 out of 9 votes by Charter). On mo- tion by Van Magness seconded by Albro the Finance Committee voted to reconsider the vote by a vote of 5-2-0. A motion by MacDonald seconded by Van Magness, to transfer $95,000 from the reserve fund, was amended by a motion by Blewitt seconded by MacDonald to transfer only $72,000 at this time. The amendment failed on a Finance Committee Minutes - 2/24/93 - page 3 vote of 3-4-0. The main motion was approved by a vote of 5-2-0. Van Magness indicated we should consider replenishing the Reserve Fund in April. On motion by Keigley seconded by Murphy the Finance Committee voted to adjourn by a vote of 7-0-0. Respectfully submitted, Secretary A8-OF 1-25-93 OUTSTANDING CONTINENTAL CABLE FAFARD CONSTRUCTION DAVID SKINNER SANTORELLI CONSTRUCTION PELLETIER-MILBURY CINCOTTA CO. READING GYMNASTICS FRUGAL FANNIES NEW ENGLAND TELEPHONE BOSTON GAS Y M C A D P W - WATER DEPT. R M H S BASKETBALL LIGHT DEPT. MERRIMACK VALLEY SHEET METAL TOWN OF MIDDLETON TOTAL OUTSIDE DETAILS $ 332.00 104.00 104.00 4,174.42 108.00 1,620.00 108.00 4,279.50 1;992.00 2,231.00 216.00 .232.33 293.08 1,085.84 108.00 200.00 $17,188.17