HomeMy WebLinkAbout1991-10-29 Finance Committee MinutesRECEIVED
T01711511 CLERK
READ G> Z` SS.
Minutes of the Reading Finance committee meeting
October 29, 1991 5 5ls !11
The meeting was called to order by Chairman Willard J. Burditt at
7:40 p.m. in the Town Hall Conference Room.
Finance Committee members present were: Chairman Bill Burditt,
Vice Chairman Fred Van Magness, Harvey Dahl, Elizabeth Greene,
Gerry MacDonald, and Nate White. Finance Committee members ab-
sent were: Nick Agneta and Richard Coco. One vacancy now exists
in the membership of the Committee.
Also present at the meeting were Town Manager Peter
Hechenbleikner, Police Chief Edward Marchand, and Maria Silvaggi
representing the Reading Chronicle.
Nate White was designated by Chairman Burditt to serve as acting
secretary for this meeting.
A. The Town Manager and Police Chief presented rationale for
requesting a transfer from Reserve Fund to Account 01-111
(Police Department Accreditation) to cover un-budgeted
costs A majority of the entire Finance Committee member-
ship is required to approve the transfer. On motion to
transfer $2000.00 the favorable 4-2-0 vote was insufficient
to approve the transfer.
Motion by Bill Burditt to reconsider the question passed by
.a vote of 4-2-0.
Motion by Fred Van Magness to transfer $1500.00 from Reserve
to same Account 01-111 was favorable 4-2-0, again insuffi-
cient to approve the transfer. No further action was taken
re: this transfer request.
B. Town Manager distributed for consideration of the Committee
a suggested list of budget expenditures which might be con-
sidered as fixed.
C. The Committee discussed at length the establishment of the
revenue estimates on which the 1993 fiscal year budget
should be based. It was decided to assume "level funded"
State Aid, adjusted only for differences in reimbursements
based on bus transportation costs and school building aid.
D. Nate White will, prior to November 4 scheduled Committee
.meeting, confer with the Town Accountant and Town Treasurer
to confirm appropriate revenue estimates for 1993 budget for
Net Tax Levy, Interest Earnings, and, hopefully, RMLD earn-
ings distribution. It is the intent of the Committee to es-
tablish, at the November 4 meeting, the total revenue es-
timate for the 1993 budget.
(continued)
Finance Committee Minutes - 10/29/91 - Page 2
E. Town Manager will, prior to November 4 meeting contact the
person who has previously served as secretary for Committee
meetings regarding her availability to serve as secretary at
a revised rate.
The Meeting was adjourned at 10:30 p.m.
Respectfully submitted,
a-
eatha;n~/C. White
Acting Secretary