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2010-09-15 Finance Committee Packet
OFACg0 Financial Forum � �� September 15, 2010 o� � • Iwo 63g:,NCo Library Conference Room Agenda 1) Call to Order (West) 7:00pm 2) Budget Timeline /calendar (LeLacheur) 3) Reserves (LaPointe) a. Current estimates b. Historic regeneration 4) Town Land Overview (Hechenbleilcner) a. Lots available /'value' b. Sales /previous uses considered c. Potential uses 5) Revenues(LeLacheur) a. Current Sources (restricted vs. unrestricted) b. Revenue initiatives previously considered 6) BRAINSTORMING SESSION 8:00pm a. Potential New Revenues(Dockser) b. Identify Top Opportunities(Dockser) c. Summary and Next Steps (West) 7) Closing Remarks (West) FYI Budget Calendar Highlights Sept 15 — Financial Forum (FY11 review & revenue discussion) Oct 27 — Financial Forum (expense discussion & FY12 budget guidance) Jan 24 — Financial Forum (Capital & state aid) March 2,9,16,23,30 — FINCOM Budget review meetings April 25 — Town Meeting begins 01 1 O� OFRp'yc Town of Reading. 16 Lowell Street J69r lNCORQ. - Reading, MA 01867 -2685 FAX: (781) 942 -9037 email: finance @ci.reading.ma.us Website:www.readingma.gov September 8, 2010 Dear Town Meeting Member, Finance Committee (781) 942 -6636 The Reading Finance Committee invites you to get involved in developing the FY2012 budget which will ultimately be voted at the 2011 spring Annual Town Meeting. The upcoming budget season will likely be one of the most challenging we have faced with increasing costs for services, declining revenue and limited methods to raise new revenues to provide town/school services. It will be important to gather resident feedback on services that are considered critical and to identify Where` there are opportunities to save resources. We are preparing to kick off the season with our first Financial Forum on September 15th at 7:00 p.m. in the Library Meeting Room. This joint meeting of the Finance Committee, Board . of Selectmen and School Committee will focus on revenues and will feature a brainstorming session to uncover alternate sources of revenue for the town to consider. Please join us and help generate new revenue ideas for consideration. We welcome your suggestions and comments. If you are unable to participate, feel free.to contribute your ideas to the Finance Committee by sending a message to finance(2ci.readingi ma.us Future Financial Forums are planned for October 27th focused on expenses and January 26th on the capital plan.. Finance Committee FY2012 budget review sessions will occur at FinCom Wednesday night weekly meetings in Town Hall from March 2 - 30, 2011. Together we can work to ensure Reading continues to provide robust town and school services at a reasonable value to the residents. Sincerely, Marsie West Finance Committee Chair Feb.1 All budgets delivered to Town Manager mid Feb. Town Manager final budget delivered to FINCOM mar. 2' Consolidated Town/School FYI 2 Budget Calendar(public meetin-gs in bold) 2010 Mer.S Town/School 7:30pm Sept 16 Financial Forum Nq000M. 7pm Library Revenues Oct4 School Committee 7:30pm RMHS School/District Improvement Planm October Schools Mar. 30 Town/Sohoo|budgets Principals: improvement goals & budget needs October Town Apr. Z6 Town meeting begins Dept Heads: BOS goals Q build budgets Oct. 18 _ School Committee 7:30pm RK8HG Fee review ~ Oct. 27 Financial Forum U/F|NC[�|N 7pm Sr. Center ' ' Expenses, FY12budgatyuidenoe Nov.6 Schools Budget requests hzSuperintendent Nov 8 ' Town meeting begins 7:30pm NMRs Npu15 Town � Budg��quoo�\o Town Manager November Schools Superintendent reviews goals & budget requests Late Nov. Schools TBA TBA Superintendent holds community forums Dec. 17 Schools Superintendent budget finalized 2011 Jen.D Selectmen Rom Town Hall Town budgets reviewed Jon'-10 School Committee 7:30pm RMHS School budgets reviewed Jeu'15 Selectmen 8am Town Hall Town budgets reviewed Jan. 13 School Committee 7:30prn RK0HS School budgets reviewed Jao.20 Sohoo|Committae 7:30pm RK8HS School budgets reviewed Jen.24 School Committee 7:30pm Ri0HS School budgets reviewed; public hearing Jan' 2G Financial Forum U|/RNCOK0 7pm Sr. Canter Capital, other updates Jan.27 School Committee 7:30pm RMHS Vote on final school budget Feb.1 All budgets delivered to Town Manager mid Feb. Town Manager final budget delivered to FINCOM mar. 2' ` Town/School budgets 710pm Town Hall Topic TBA Mer.S Town/School 7:30pm Town Hall TopicT8A Mar. 16 Town/School budgets 7:30pm Town Hall Topic TBA Mar. 23 Town/School budgets . 7;30pm Town Hall Topic TBA Mar. 30 Town/Sohoo|budgets 7:30pm Town Hall TopinTB4 Apr. Z6 Town meeting begins 7:30pm RK0HS .~�� Town of Reading Stabilization Funds General Smartgrowth Incentive Payment Employee Buy -backs Sale of Real Estate (at June 30 with next FY commitment) Certified "free cash" July 1, 2009 5,189,292 Free Cash Used for FY2010 and FY2011 operations (1,199,827) 2010 1,524,831 700,000 25,035 994,287 3,989,465 ,Hrstorc Regene "ration of reservesV,_ . _ _ __ _ 2005 2006 2007 2008 2009 2010 Revenues: Variance from original budget $ Property taxes: 81,912 232,242 452,017 331,359 669,720 262,633 Motor Vehicle Excise taxes 217,456 35,294 - 43,330 - 78,255 - 149,039 82,330 Penalties and interest on taxes 1,635 -4,866 7,489 22,443 26,454 - 49,528 . Payments in lieu of taxes 1,934 251886 22,646 40,169 38,565 23,270 Charges for services 157,501 13,227 347,376 - 119,217 37,838 - 94,337 Licenses and permits 15,980 68,289 -4,942 19,207 68,156 25,594 Intergovernmental (includes State Aid & Medicaid Reimb) 308,859 246,006 650,035 276,926 - 594,392 - 315,500 Special assessments -35 - 1,346 53 -2,682 -2,376 -252 Fines 24,753 - 35,752 8,440 1,272 - 18,108 - 40,297 Investment income 603,780 935,302 1,263,497 1,007,946 - 95,185 - 59,403 Other '78,416 14,066. 73,284 206,218 64,436 186,629 Total revenue variance from budgeted amount 1,492,191 1,528,350 2,776,565 1,705,386 46,069 21,139 Property taxes: Property Taxes collected will be more than budgeted because of our conservative estimates in the growth on new taxable properties Motor Vehicle Excise taxes MV Excise was at 2.9 million for 5 years then dropped to 2.7 million in 2009 and 2.5 milion in 2010 Penalties and interest on taxes Penalties and interest are dependant on who decides to pay off old tax liabilities and therefore, very unpredictable. Charges for services Charges for services include Permits from the inspection department which are dependant on economic conditions Intergovernmental (includes State Aid & Medicaid Reimb) State Aid is not known during the budget development-so estimates were kept at 5 %growth unless state legislature guidelines suggested otherwise Investment income Interest rates for this 5 year period went from 6% to .less than 1 %. We earn interest on money we borrow for projects (eg High School Const, Energy Improvements) We do not include interest on borrowed funds when budgeting revenues because it is not sustainable Other Other income includes one -time, unanticipated, non - recurring, inconsistant revenues. Insurance Dividends-, MIIA rewards, legal settlements, reimbursement of prior year expenditures Q Expenditures: Variance from original budget 2005 2006 2007 2008 2009 2010 . General government 88,579 58,506 46,569 .150,011 200,599 221,803 Public safety 162,916 32,796 68,518 162,442 104,639 117,993 Education 31,358 51,893 46,884 99,145 213,378 286,158 Public works and facilities 18,816 119,164 100,1'!7 137,804 143,191 189,609 Human services 22,191 -3,605 -1,949 18,356 3,216 27,353 Culture and recreation 13,753 5 7,353 7,334 47,342 23,654 Employee benefits 175,039 54,373 42,723 125,138 1,119,740 214,982 Intergovernmental - 24,220 - 33,056 5,476 -957 -6,027 50,717 Debt-service 0 9 875 -1,893 56,982 19,844 Continued appropriations from prior 0 0 0 0 0 year cancelled- not needed 12,024 54,198 66,787 236,354 43,940. 58;621 Total expenditure variance from budget amount 500,456 334,283 383,353 933,734 1,927,000 1,210,734 Sum of Revenue & Expenditure Variances 1,992,647 1,862,633 3,159,918 2,639,120 1,973,069 1,231,873 General government Fin come Reserve Fund unspent FY08= 11 1000 FY09 100000 FY10 80000,lns Claims down - saved 30000 FY09 Public safety Unused Sick buyback - reserve for retirements - 25000 - 50000, Various Police /Fire Vacancies Education FY09 hold back to: cover reduction in State Aid - Fy10 Energy savings unspent to cover the Energy Improvement Loan Interest Public works and facilities FY08 Woodland Easement Project low bids saved $50,000, FY09 and FY10 Gasoline prices down - saved over 50K each year, trash less tonnage saved 47K in Fy09 and 70K in FY10 Human services Unfilled position in Elder Services $20,000 Culture and recreation FY09 Long Term Worker Comp vacancy Employee benefits FY09 ARRA funds paid Teacher Health Insurance to offset State Aid Reduction Intergovernmental Regional School Assessment lower than budgeted - less enrollment. Debt service FY09 Orig Budget Included estimates for refinancing school debt, FY10 est int expense on Energy Improvement Debt Continued appropriations from prior year cancelled- not needed FY08 -15K Walker Brook area Appraisals, 31 K DPW study, 22K playgound, 75K Utility ovrpymnt refund L%1 Summary of Town Owned Land by Department JALL TOWN OWNED PARCELS (All) DEPARTMENT Data Total CEMETERY Number of Parcels I Number of Acres 54.9 CONSERVATION Number of Parcels 92 Number of Acres 955.7 GENERAL GOVERNMENT Number of Parcels 45 Number of Acres 30.6 ICE ARENA Number of Parcels 2 Number of Acres 16.0 MUNICIPAL LIGHT DEPT Number of Parcels 12 Number of Acres 18.0 PARKS Number of Parcels 19 Number of Acres 64.9 RIGHT OF WAY Number of Parcels 4 Number of Acres 0.3 SCHOOL DEPT Number of Parcels 28 Number of Acres 80.4 TAX TITLE Number of Parcels 10 Number of Acres 16.2 TOWN FOREST Number of Parcels 30 Number of Acres 204.6 WATER DEPT Number of Parcels 31 1 Number of Acres 135.1, Summary of Vacant Town Owned Land by Department IVACANT TOWN OWNED PARCELS JY DEPARTMENT Data Total CEMETERY Number of Parcels I Number of Acres 3.0 CONSERVATION Number of Parcels 85 Number of Acres 953.5 GENERAL GOVERNMENT Number of Parcels 18 Number of Acres 12.6 MUNICIPAL LIGHT DEPT Number of Parcels 3 Number of Acres 0.9 PARKS Number of Parcels 1 Number of Acres 1.6 SCHOOL DEPT Number of Parcels 4 Number of Acres , 6.7 TAX TITLE Number of Parcels 10 Number of Acres 16.2 TOWN FOREST Number of Parcels 27 Number of Acres 151.5 WATER DEPT Number of Parcels 20 Number of Acres 74.41 9/13/2010 0 Vacant General Government and Tax Title Parcels Plus Lothrop Road Lot Data sorted by descending size. Value from Assessing database (fy 10); size calculated by GIS. GIS Map # MAP LOTID STREET DEPARTMENT VACANT NAME ACRES ZONING LAND VALUE 1 33 -19 OAKLAND RD TAX TITLE Y Oakland Road lots & Oakland Rd ROW 5.77 S -15 $646,800 2 12 -131 W /SOF JOHN ST GENERAL GOV Y Adjacent to 13 -1. 3.89 IND $60,800 2 23 -56 QUANNAPOWITT PK GENERAL GOV Y Odd lots betw RE[ & Carnation Cir . 3.66 S -15 $5,900 3 12 -80 ASH ST TAX TITLE Y Off Ash at Wakefield town boundary 3.28 IND $68;600 3 32 -135 OFF GROVE ST TAX TITLE Y Near Henzie St 2.88 S -15 $11,700 2 23 -47 QUANNAPOWITT PK GENERAL GOV Y Odd lots betw Torre St & Carnation 2.17 S -15 $12,000 4 22 -53 EATON ST fAX TITLE Y Adjacent to Hunt Park 1.91 S -15 $39,100 4 9 -19 OFF COUNTY RD TAX TITLE Y Top of bluff paralleling Rt 93 1.46 S -20 $83,900 4 9 -3 LOTHROP RD WATER DEPT Y Proposed water tower site? 0.70 S -20 $196,700 5 28 -202 PEARL ST GENERAL GOV Y Pearl St and Audubon Rd 0.62 S -15 $226,000 5 8 -61 HOPKINS ST GENERAL GOV Y "Hopkins Street Playground" 0.60 S -15 $263;300 6 51 -63 CHAPEL HILL DR GENERAL GOV Y Chapel Hill Dr lot 0.46 S -20 $162,900 1 33 -21 OAKLAND RD TAX TITLE Y Oakland Road lot; part of high knob . 0.45 S -15 $252,800 6 4 -29 CURTIS ST GENERAL GOV Y Betw Greystone Way & Rt 95 0.22 S -20 $17,200 7 38 -54 BIRCH RD GENERAL GOV Y Access from Birch Rd ROW off Spruce 0.21 5 -20, AQ $8,600 7 31 -5 CAUSEWAY RD TAX TITLE Y Near substation, across fr 2 houses 0.18 S -20, AQ $253,000 7 8 -11 BEAR HILL GENERAL GOV Y Betw Main, Summer, Kenneth Rd 0.13 S -15 $8,300 1 33 -37 MAIN ST GENERAL GOV Y Corner of Main & Birch Meadow Dr 0.13 S -15 $124,400 2 23 -62 TORRE ST GENERAL GOV Y Between Torre & REI 0.13 S -15 $115,900 3 -32-143 GROVE ST TAX TITLE Y Fronts on Grove N of Henzie St 0.11 S -15 $7,400 8 3 -9 WALNUT ST. GENERAL GOV Y By Rt 93 cloverleaf 0.11 5 -20 $17,200 7 27 -210 LOCUST ST GENERAL GOV Y ROW between Locust & Federal Sts 0.09 S -15 $103,200 8 17 -215 GREEN ST GENERAL GOV Y Narrow strip off Green Street 0.06 S -15 $71,600 . 8 32 -13 OFF PARKMAN'RD GENERAL GOV Y End of Laurel Ln ROW 0.06 S -15, AQ $800 7 31 -7 CAUSEWAY RD TAX TITLE Y tiny lot at Lowell St end 0.06 5 -20, AQ $50,000 9 4 -113 STURGES RD TAX TITLE Y Sturges Rd at South St 0.05 S -15 $19,300 9 23 -70 BAY STATE RD GENERAL GOV Y Betw Bay State Rd & freeway access 0.04 S -15 $5,200 8 3 -18 WALNUT ST GENERAL GOV Y By Rt 93 cloverleaf 0.02 S -20 $4,600 9 21 -147 KINGSTON ST GENERAL GOV Y Sliver mid - block; W side 0.00 S -15 $100 9/13/10 MAP 1- VACANT TOWN OWNED LAND: 27-405,33-19,33-21,33-37 .....,,.;;fix 4' ' �K 3 -73 5 �,, --,- 2 ` �_ ' 1� •-,- • D 739 Q`z � If ''� ,, *,�''a`•`\�.n', s j ..'..._. +'' , /, ti'�p�l '� �•'s 4 � ' ti: rco} 1.i f "�tr y, .. r � ' � /ri �� X12/951 ,� v w \�`'•• ° a 1 dpi, 2435Dt/ - .d" �G.. �. ,7s. � a ,..'',, `•.•.y ? � J ,,t, t 1�.�I; n ..: '> %t1C: 1. , 6`.j;•� -i. � j "'. r�t( '1••`':,. � �' Parks , +..��'�,.. ;? '�*`."w,�?�,,.ti'�, .. . °..��- ��_�...s .,...� -? ...-'."'�•.L.r:..�.'a�I�F�• �:kl; !' �:�l�r';.'33=938f.',�< N �; pf� `� -,r t , 94 6, 1o�s ' s27 284 l.t ,27.308 �. \ 27 -2! al. / (< \ .tt `3359' 12s C! 1 8859 t > t 335 1. 33 42 3339 :�, 1oy°RO 1 1t i 96 �;Q�j\� 1 '} 33 40 }t?7sa rssa �t �,r...3•rr' 33 33-43 y ^,t t 14 10,OtD0 34 7 jl• -'�9 �3�' '•^`' `�s" 1 '1� g 5�7 -474, It ` ,- ' � � ix� '133 25'`�•�• t .�i t \:,...•• 51QE ��'�".� �� �. ,: 33 2 ` t� s 5eoill z� `,,- �1-�'" 33 "2ti 5'i t Jr � o 0o 'l tt] laXl i ztl 0 O� a ��: t1 e}i l 1r91�a, , ltt i'i� rhool.t : -.t ,�� {,i�"r,._s r' shoo) xU Y \ °t „•* ..r�r i ..- •,j�- `"`.iN F '' y: Ven Vov n \ ✓c C' 9 953 13 ��af nc 2740 Z, a7 000±/ r t Y - 't : N j� i7ao t i 1. X27 398,a 4 t 8'132 .�} �,. �••i-"'' --t� 7;28:A 11�ES� . ' .k ..27 407i���f�03 1 �alr t, ti:ttf ^��i .--, r r ��i ; �� Y a ! lU ,�, + Z592411,f 4777 i yt Cy� �— �.....: S 1 "� �•'• •�; , / \�i "r` T—� R ` r u� 2 4 �f t ti 41 664 °t J, m 27-40,4 75,580 s t 33 99 ` r 27 399 23 957 n 1 ! ` 1ot87 1r ' m 2.7. 91 wn 1 467 35,3501.,%-_!,I, T7rj� s ,i j....�0 27 491 HT 92 1 4 ,, ; 27-30 5 1 D1 )7 v L , 386 ,2 o,o �vr f lITJ t ' ur -tF- 25 385 91 1 i[t y� u 11 '� i 27 369 127 370 l A �2� i 10430 1 052 t 27 358 t , rrti 1 I_ j ` 3521 811�C117 7,✓,_..zss Z 17275 \ \ \;; , .. ;17D , 10990; t�j i27 -367 r t' L1M1asavOT j0 50 100 200 �T 2801 �V �/ f;���'�1 ('`1o,oao � 1 i,' 99 �O'1�$7•�.;� Ft�a4..._;: �'�..N 1r •., i�' 1.�*_°__.�t -�� -. -rte~ .. ,..y . _.. t .!" � t 27_ ,._ . -- - -- .. _ 557 shoo) xU Y \ °t „•* ..r�r i ..- •,j�- `"`.iN F '' y: Ven Vov n \ ✓c C' 9 953 13 ��af nc 2740 Z, a7 000±/ r t Y - 't : N j� i7ao t i 1. X27 398,a 4 t 8'132 .�} �,. �••i-"'' --t� 7;28:A 11�ES� . ' .k ..27 407i���f�03 1 �alr t, ti:ttf ^��i .--, r r ��i ; �� Y a ! lU ,�, + Z592411,f 4777 i yt Cy� �— �.....: S 1 "� �•'• •�; , / \�i "r` T—� R ` r u� 2 4 �f t ti 41 664 °t J, m 27-40,4 75,580 s t 33 99 ` r 27 399 23 957 n 1 ! ` 1ot87 1r ' m 2.7. 91 wn 1 467 35,3501.,%-_!,I, T7rj� s ,i j....�0 27 491 HT 92 1 4 ,, ; 27-30 5 1 D1 )7 v L , 386 ,2 o,o �vr f lITJ t ' ur -tF- 25 385 91 1 i[t y� u 11 '� i 27 369 127 370 l A �2� i 10430 1 052 t 27 358 t , rrti 1 I_ j ` 3521 811�C117 7,✓,_..zss Z 17275 \ \ \;; , .. ;17D , 10990; t�j i27 -367 r t' L1M1asavOT j0 50 100 200 �T 2801 �V �/ f;���'�1 ('`1o,oao � 1 i,' 99 �O'1�$7•�.;� Ft�a4..._;: �'�..N 1r •., i�' 1.�*_°__.�t -�� -. -rte~ .. ,..y . _.. t .!" � t 27_ ,._ . -- - -- .. _ MAP 2 - VACANT TOWN OWNED LAND. 12-131,23-47,23-56,23-62 q� 1sszA «es 7 , � i� 0 (�� £�t' O �5 •S 1 ,� 'Nip > �a� � 'I �' �``:.. � ti `-'.. U . " a4 5I A01 r Z; 3 0 J I 1„ IJ 1.;.. '.i; 4118 A «es j l I, _ c::_ ;Jr ' f •� °' Cons PU ®% v l Jm llff r IJ w.• -- .+,I,.. • L I� "_ ,I, :yl,{ _ - j sJA I. Gen;, Jr >1.�. GOVI :f , A F;t ♦ ,` _ rr• ;.I, ')r. ,17.e. I I S, -I �.' ,I�•` ,J, +-11, KEFIELD rte' °-•..I �, z r .I ,) I, ', L• -_'. I ''' :I.' -_ � �, p n� ,rJ� :-:��:; - , „f.. 511 I ,i . k,(rr - ::y- 1;•.��' i ::•�iX.. .. , _ �r;c ;; a7 °r .;�i"'s :::... '• %_ %'.: .3.4;x'- ..,Jx. 1 {i'� _ ,_J.d�._ ^I &•• - jrj., cl: JIFe >J;: '.b IA Jj ...1:' r•.L :, >J :• 'i' Iu I�,: �° ;'i 4AIr: _- __.rr - '.L /. - ,a ff, - :;Ir• - rli. - ;.it CI' - :;a;; •.,I 3s ZjC�� i22 \ X371 «es a } '.W 3T. 16;e70 Bu IJ as Gen Gov el 0 124 Gen Gov 2,728 16,796 _ 1 ', w G 69 Acres � �- st 16 23-19 Ir 8 23 -19 _:- - 23 -57 -:. >sif I , o 2 O 33,eao _. , 21,457 100 4 O - ;; 12,970 rya 9tfi \ �' Cnn- T z10 15, Flo ! , brImit 23- 'C�� 3-31 Irl Y 23-48 r 23 kf 2f i 10 000 a' 3-40 1 �, di iii +, �rGen Gov t< I '•\ 8,39 2 "2 ''�, r •:1 /� - 82 GOtiS7 5.3 5:. ��tdGir�?'� ' •'. 0 50 11 200 ' - 90 C%Ur`/ 11; Parcel ownership as of 1/1/10: �d. , :G :"• -• i %!'• - , nd IJ, Y ,a % r Buildings, roads, drives as of 4/08. MAP 3 - VACANT TOWN OWNED LAND: 12-80, 32-135.,32-143 3 go 6 Ge Geri Gov S; WA. 12,872 ........... 1 1360 j 7 SJ11 18,119 . . = _ .7z-uz, '12- . ...... ... . Jr ...... 1U.431 12 .:, ' "ll-Ul. . 1, . . ....... W 50 j�X 12-16 .... ...... ... m �4 d., , .. , r,)r 72- 12-17 16,164 12-18 12-96 j 100 16,559 <.'I goo 12 19' A�. 16464 12-23 < itl 67,052, X.Ti Q::, 15 16, 1D9 1220 1220 12-24 67,052 --- ------ ---- 12-86 '-'Az 12-14 36,229 6 es 7 S' -s 12- 14,368' �KEFIELD I V 71 1 A cm _2 364 3 Q. arks 0 Aquifer Pr. tectio ie Parks 3 P32 3 u 50 100 200 1 -71 Ft 0 &925 Pa ownership as of 1/1/10. Buildings, roads, drives as of 4108. MAP 4- VACANT TOWN OWNED LAND: 22-53,9-3,9-19 12,585 22- . � 2 -179 Q 1 ap , '' -�.. -nor l 2 8 .. s. : s, � -. � 2,��3 a ~�e.,� . , s ,dose Z2 $ r fiD50 �\ \iy09 26 '' C? V 15,119 \%, 90 a + _ 5,542 -17$ 11,094 5 14,105 22q �5 i °: ° 2 -2 r 3 2_2 +ab 3 15,046 `•� r x16 -2 30 r G ti 22_2 22-47 22 74. 1 y �r Parks X19 22-54 7 92 1 \ #.5 29333 Acres x . , 700 3 1 'T j 'T — _ — -- 620 U^ . � y ... < . „t ad ?'.'• '�. _ lt} -� S °: - .:.�_. 22=3$ ,e�.a..,.° ... ..... • :t, -- ,t, - •,i; :i - - •.i.::. - - ,:: 59 _ s,3z5 .•,., \ .... .. . >:..r, ...- _ Tax-Ttle:.. 8350 - -' = G4 >;li;' = �.I; - E%i�1�6. ,.l,v 3s.6<t 1: • _ d ?s _ 22 -63 • gk: 31,241 222 :ate ', _ 22-41 • -• I 1 Hx - 6,,�a�`HCI'e5.yl:f °a 57,008 _ _ 22-49 JA 2-48 1 1 22-4 2-412 2-42 13,339 7 iz os A ! r l i 40 015 , '• ` :•• .. 7t ,. \ :.,: tt �, ,.� ....: •.:., 1 �' 6,25 !; /• -. �j,'- Iti - 6 - _;. _!.._.•.,.. 12,500 n:j 'i .y 17 20 17 207.. ..., ... ,.t: • _ -- "� � •. � __ - •'• :.t�''_ 35,002 41,994 = - `;}I +'r -- _ ilJ,.`•% -_ / ° 00 +lO X20 �•' � .. ;� ' s.4 %:.• _:. ._,:� �• _ � 9,375 722 , r:� J` ' 10 352 r 'l - 3 9=27 20 Q s J 9-14 0 V+ 90- 23,520 9 -26 ; ao 9-15 36 �.. l 9-1 ;0 6 } I . 9 20 :: 9-12 t.\^ , 1 4O- `8,000 20 00 n . :..f, 56.:.,• a. av� � 12,40 10- 2 U U- 1 5 r 20,863 4 02 7 WOBURiV 10 -55 ` m , t 1; TaX 9 -1 1 2 a N 7,4 9 Title g-3 1145/ x Water 31,614 Fill, 7 0 50 100 200 9 "1 AOL rte, Parcel ownership as of 1/1/10 \\ 200 O'' 0.65 Buildings, roads, drives as of 4/08. 0-30) MAP 5 - VACANT TOWN OWNED LAND: 28 -20Z 8 -61 52 s :;Iri 1 90 rtiCt�L'�� 5BT�6U Cem 0 34- o0 i� tisF�i Cy 4-53 34 4M 223 __ 1, > p /c 40 rep 7 T �r 34-59 34 -62 Cem �: Cone ..7A ' (a 34- 7 .. z.. ; 77� 42,508 % s 110 , p.. f •... 5)t . :. O' 31 0` 3 O ja I 4-58....:. t l 28 -195 Q28, 0 1D0'Q16.918 18 +209, 96 \93,942 r rr 41976 'Fr /7 1 r )rte J`J �t 6 r_ I 1l._ `` ��ti .1 f n 1,096 ulr S .15 2E; 850-1 28-192 28 �� �- , .• ' tm �Y. tLYS.i."� ,U - .sIF: � Gov rr� ' ` �� 1r � `•:.':,•.lr _ �,6{ : -. ) '_�`.;,1�- :..:�.•_: a p G_. 28-20 p�. ` �t✓ :i '• Coils alir • ...:: ,r i; , aU'. h s 23 4•- _ r, 7 2 Yi n s4,i, �rF... 05 8 r �:` , FIB +){ I+ 1llr I1�. 6 g 'p a•r- '6 )r :n 39 .. -' a 3I. 0 t .... ©% +• -, , 2 h�' 28 -1 '' 1os7z r,�'`� - .C�1. �� >�I /,a {� - Y] 14 2 _ � 1 3� 2 8 � . l{ � „{ • . m , , � 28 -166 o ,,a,, -x- � -- ` 37 27'�F • m `ms`s, . ,��,, ilk • 'i lr Ir„.; �. 21,8 35 9 ' :.. , 28 7Yb,. ” .13,690_. V,85. '" ',:�Ir,.� ••, _ _ . ti•,.: t sLti \y(t _ ill' �k �Jt a5 28-172 j4 :2 - 25,494 tl r vt.. :2•� +.'�, --- -- r _alt;_ ?.�_ %Ir'- 28-161 , I:" ', :, 0 'l 3 10,000 2W7 8 -47 Q 00 , 82 8 -39 o g 8 -52 1, 1, 3FJ I 20,000 _ 2 .s2 Acre's e Q 1 t� 8- s Water I V _ �1 �h �3 a I 72 ,667 U9.%�Cler , HQ' S q� 8-4 Gen Go`v y T 2,449 13 14,375 1, y 10,012 2.t!: It - -7 27 323 - f 3 i.- a_�_ 16,393 13,972 y O l 10 70 s' F• 5-24 , i �-• - 5 �S3 es 17,795 ` y k 26, 09 ..... ti Q �` 3 a , --•• -' SEA____— __.. ---: . zs�6s+ o � ,` N g z •^ re �, ad C)1d .... -..r �.S16TdiY \E .L ®D 8 i \ 5-6 5-9 5-8 S-Z7 7 ©9,041 5-10 0 50 100 200 765 s Ft PU� Parcel ownership as of 111/10. r7 3931 ...;_ .., y T �� , Buildings, roads, drives as of 4108. X11 a , r i� MAP 6 - VACANT TOWN OWNED LAND: 51-63..4-29 p �� i ®�•eC l/'�'� y t+,,�' 25,101 m BUS. 'a �Ih 51 4 . 110 . - o +!- 27, 1 �0 26,4 1590 Gen Gov �... 708! ,; 5 13 r 51 } 51-,T5 (1l}io -91 51-71 IF 2 lrse24 25,009 28,015 a 594 9.4798 Aaes ' ' +1• J .0 51 -72 v^� 44,566 59 -s6 � Zf1,433 _- - -- � �• - a 484 -- �'- ;$' 2 ,3a`.p�ois - - _ - - - - :•.I `�: - - ;;.I:>• •: " - - - : I•r,14a t r 4 o wiz _ 4._. :.; ,,•'. _ - .:ihiCa597n?"t -- i, 5E _ .Rq' I, -- .: _ •and.. ".:�fHin_' - _ 51 -54 f�• s §iepr: f: u- li !} p \Np t3 4,064 - i f _ . -- .:�.i,/v.,, . • � �Ii- '. - ' - '• -Jf.'t) - - • _ :'•_!,•': '. _ - :,IL�.•-t� '__ `83_ ; 9- S•iB., , �., -...... - -- 5164 7 ti- ,rr•, : •t-'. •' _ _- �:° fir•.:' Cons .�.i. : r J .. 21' 45 -101 5-102 - s 37.399 29,741; 1?9 Tj�1i 110 - _ 45-1 1�p - 5= 105� 16955 ' 34 8; 'Y 4-27 `?i a, 20 5 5 :;ter 4.37 4=22 ' ( 10 < 19 1 53 1 158 t, QQ 170 'F 4-52 � 5 } u i7� Q 8 3c` :� f .. ' 27 � 21.069 � i 44 J5 26,4 4', 13,075 5. 4 4-39 20,005 „ 13,367 13,122 20,117tr ..� !lIJJJ ,ytsr• 1. j58 „ wa b - 2® � A 4-3 c i 5,350 j,.44 .,.. 4-40 � }, r r , �.... � 3 F-, ,-�: 36,364 21,872 r F end ..... _ f'•1';�'`�'r' c_ 140 .,..-- �°>- �•:'' r" �-•-~ _"` } RM 4-41`= ' 25,596 13p I ❑ . _ .�• 5 may.., -, a *.. q k� i`J x • Wit== ='= '"-c`_- ,n,7 .� _ � ,x}1_"'7?' "� w�, -'`:.` c r^"*r"..�- VO•i�. rte, �_' z� i � 4 4s'-c ,ice- �- � -�r-�^ u � a'. �a�' 1""•z'�- �- �'t'_'_'.. -*'- -r �r � Q N 13 Ind.Mj•• 2-3 X20. ' - -'' 120 Ar. 0 50 100 200 Lea 216Ac. p P 120 arcel ownership as of 1/'1/10. Buildings, roads, drives as of 4108_ ON MAP 9 - VACANT TOWN 0 WNED LA ND.- 4 -113, 23 -705 21 -147 1 279& - 0:000 7 � . m - i� is :• 659' es �� 00 1 0, -24-8 1 23 215 �- 4 4- 1 0 D m% S-2 2 ® a 3, M %26 11, 21 i `F 10;000 , 23 21,7 i 12,000., x 24-9 18 63 b l 23 -204 I,r � 1 0 •v s,7oP io T Z Title s s y Ive GonsJr� q 6 7 r fib° 20 6 4- 4-114 4-115 8 1 00 4-9 t � '-4"- �45 Z8� 4. 8, 2 l� ✓ 2n S n60 9 9,230 3 7,435 i ejQ% . O �;. 2 - t 5 ` 0 26 576ca� 1293} O 15, 1 'GSG® 0 Bus. C WAKEFIELD 4-1 12,49 ::..:.. 87 59 0 ° n21_2' 4 73 ` 14, 0 1 MF (( Lot 21- 147fa,77s Z� uu- 2111, 24 sf );750:, N M, . „ Gen 156 G'ovC kw 14,085, >' .9; 100 16 �V 80 s. t ( 214 25 2121 p } 8,019 0 12,850 ' 2 �'TN '100 7 -� x, N A 0 5.0 100 200 Ft Parcel ownership as of 1/1/10. Buildings, roads, drives as of 4/08. Marsie West Chairman Reading Finance Committee Dear Marise At your meeting of August 4, 2010 the subject of Town owned land that could be used for advertisement came up. There are perhaps one or two sites one being the Town Forest land that abuts 93 , the other on Jere Rd off County that also overlooks 93 . This land was purchased by the Town in the early 50's for a water tower. Over the years the Town has looked at selling numerous small parcels of land ranging from a few Sq Vt to a thousand or more in most cases nobody has wanted them There are three large parcels that should be put back on the tax rolls , the above Jere Rd that has not been used since it was taken in the 50,s , a 20,00 Sq Ft plus lot on the corner of Audubon and Pearl that was created when Pearl St. was straitened out, I am told that there is a water main in the lot , but it could be rerouted . Given the price of land in Reading I would suggest each lot would bring at least $300,000. It would take a vote of Town Meeting to sell these properties . At 157,000 Sq Ft ( excluding portions of four streets , 38,000 Sq Ft ) the land on Oakland Rd is the largest , it was taken in 1937 for nonpayment of taxes and does not require Town Meeting action only a majority vote. of the Board of Selectmen. Although it could be a difficult property to develop but because it abuts approximately 13 1,00 Sq Ft of other open land it should bring a a minimum of $ 1,500,000. If this and the abutting properties had an Planned Residential Development ( PRD ) district similar to that which the Town did for the Bear Hill ( Gazebo Cr.) land it could be worth more . An amendment to the present Bylaw from 8 acres to 3.5 Acres by Town Meeting would allow this to happen. Pease note that the land on Oakland Rd. was never considered for a High School and was never under the control of the School Committee , it has been looked at over the years for a police station twice , a fire station and just about every other municipal use , it is time to put it back on the tax roll. Over the years I have been told that to sell land it would have to comply with Chapter 30 B ( The Uniform Procurement Law ) however I have noted in the Boston Globe several cities and Towns have sold land with no minimum via professional auctioneers . The Town needs monies for capital projects and the sale of these properties could go a long ways to help . ,�ev � K � ct eJ� ,� G' � Sincerely Yours y William C. Brown S-d t c— Set 0 h! eje,. -eg' c.% S C� 9 Restricted Funds (revenue collected for a specific purpose) . Brief Description Amount Fund Recur TOTAL $10,415,062 Revolving Funds $ 2,760,042 27% State Grants $ 2,086,167 20% Federal Grants $ 1,633,796 16% Gifts & donations & Trust Funds $ 1,328,813 13% Federal ARRA $ 1,274,899 12% Summary: largest components $ 9,083,717 87% = subject to federal budget appropriation A= subject to state budget appropriation Schools $ 6,814,130 Title _I Fed* Poverty - based $ 73,703 Grant Y Title IIA Fed* Teacher quality improv $ 68,210 Grant Y Title IID Fed* Improving tech in educ $ 1,657 Grant Y Title IV Fed Safe and drug free schools $ 9,976 Grant N IDEA Fed* SPED - avg cost educating child w/ disabilities $ 911,974 Grant Y Early Childhood Fed* SPED pre - school $ 16,854 Grant Y Am His Fed Competitive $99k 3yr to FY12 $ 235,000 Grant N ARRA SFSF State "Stimulus Funding" to Oct'11 $ 654,119 Grant N ARRA IDEA SPED "Stimulus Funding" to Oct'11 $ 572,931 Grant N ARRA Early Childhood SPED "Stimulus Funding" to Oct'11 $ 21,589 -Grant N ARRA EECBG Grant Energy "Stimulus Funding" spent Nov'10 $ 150,000 Grant N METCO State METCO program ($3,300 per METCO student) $ 341,866 Grant Y Academic Support State WAS Tutoring for students $ 11,300 Grant Y Circuit Breaker State" SPED reimbursement $ 936,376 Grant Y School Transportation restricted transp exp (Ch. 71 § 68) - pay 50% costs $ 52,840 Revg Y Extended Day Program restricted to sal. & exp. for before & after school (Ch. 71 § 71 E) $ 45,113 Revg Y Summer School Program restricted to sal. & exp. for summer school (Ch. 71 § 71 E) $ 19,131 Revg Y RISE PreSchool restricted to sal. & exp. for tuitioned' pre- school (Ch. 71 § 47) $ 124,245 Revg Y _ Special Ed Tuition restricted to sal. & exp. for tuitioned non - Reading SPED (Ch. 71 § 47) $ 162,007 Revg Y Full -Day Kindergarten restricted to sal. & exp. in excess of required half -day pgm $ 482,386 Revg Y Use of School Property Rent/custodial costs, utilities, and ordinary repairs &'maint. (Ch. 71 § 71 E) $ 151,882 Revg Y Lost Books (all schools) Fees collected from students to pay for lost books (Ch. 71 § 47) $ 3,310 Revg N Coolidge Drama Activities Tickets /restricted to exp. related to drama programs (Ch. 71 § 47) - $ 25,145 Revg Y Parker Drama Activities Tickets/restricted-to exp. related to drama programs (Ch. 71 § 47) $ 15,494 Revg Y RMHS Drama Activities User Fees &Tickets /restr. to exp. related to drama programs (Ch. 71 § 47) $ 82,186 Revg Y 9 Schooist continued) Restricted Funds (revenue collected for a specific purpose) Parker After School Activ. User Fees restr. To sal. & exp. For after school program (Ch. 71 § 47) $ 12,021 Revg Y RMHS Guidance Rev. Fund User fees & college revs restr. To guidance exp. (PSAT,SAT etc..) (Ch. 71 § 47) $ 31,384 Revg Y RMHS Athletic Activities User Fees restr. To sal. & exp. For.RMHS athletic programs (Ch. 71 § 47) $ 253,986 Revg Y School Lunch Fees /Fed /MA restr. To sal. & exp. nuitrition pgm (Ch. 548 Acts of 1948) $ 1,167,706 Revg Y Adult Education Program User Fees restr. To sal. & exp. For adult educ. programs (Ch. 71 § 71 E) $ 76,118 Revg Y Districtwide Gift and donations to school department (no school specified) $ 8,756 Revg N Special Ed Gifts and donations to special education department $ 3,000 Revg N Barrows Gifts and donations to Barrows $ 1,515 Revg N Birch Meadow Gifts and donations to Birch Meadow $ 15,831 Revg N Eaton Gifts and donations to Eaton $ 7,950 Revg N Killam Gifts and donations to Killam $ 6,360 Revg N Wood End Gifts and donations to Wood End $ 1,535 Revg N Coolidge Gifts and donations to Coolidge $ 21,759 Revg N Parker Gifts and donations to Parker $ 12,209 Revg N RMHS Gifts and donations to RMHS $ 21,872 Revg N Joshua Eaton Clocktower Donations for restoration of clocktower $ 774 Revg N RMHS Field Lighting Donations for installation of stadium field lighting $ 1,230 Revg N Wood End Playground Donations for construction of Wood End Playground $ 830 Revg N Li rare MA state aid" $ 87,762 $ 123,368 Grant N Donations $ 23,760 N Fines revolve fund $ 9,992 Revg Y Library Trust Fund $ 1,854 Trust Y Town Mgr Insurance restitution $ 151,530 $ 274,266 Ice Arena $ 95,000 Y Celeb Commission $ 12,487 Sale of R/E $ 6,939 Revg N Donations. $ 5,000 N MAPC bike rack $ 3,310 Grant N Community Services Elder Svc Trust Fund $ 134,623 $ 358,283 Trust Y Hsng - affordable $ 94,209 DHCD 40R Application $ 44,377 Grant N MA Elder affairs $ 30,051 Grant Y Pub Health clinics $ 21,507 N Donations $ 8,137 N Downtown Improve Tr Fd $ 6,150 Trust N Plan Design Review $ 5,002 ON LVA Community Svcs lcowt) Restricted Funds (revenue collected for a specific purpose) Cutural council $ 4,534 Trust Vets Mem Fund $ 3,057 Trust Y Wetland prot fees $ 2,505 N Insp permits revolv $ 970 Revg Y Mystic Valley $ 1,948 Grant Y Hist Trust Fund $ 678 Trust Misc. $ 535 _ N DPW Mem Park donations $ 587,596 $ 1,796,118 N Rec self supporting $ 552,935 Revg Y Ch. 90 ^ $ 387,760 Grant Y Cem Trust Fund $ 203,180 Trust Y Cem - sale lots $ 43,350 Y Rec donations $ 14,402 N Rec ARRA Sumr Youth' $ 4,700 Grant N Donations - signs $ 2,195 N Police /Disp Special detail $ 629,917 $ 794,522 Y FG RCASA* $ 103,269 Grant N PSAP Operations $ 34,933 Grant Y FG hwy safety* $ 11,310 Grant Y. RCASA donations /grants $ 7,020 N PSAP training^ $ 2,716 Grant Y Donations $ 1,500 N FG underage .alcohol $ 1,471 Grant N FG vests $ 1,193 Grant N MA vests $ 1,193 Grant N Fire FG FEMA to FF $ 49,828 $ 78,491 lGrant N FG Fire OT reimburse $ 19,213 N MA SAFE $ 5,900 Grant N FG FEMA to MEMA $ 2,500 Grant N Donations $ 1,050 N .Finance Hosp T $ 115,555 $ 175,884 Y Stab Fund Earns $ 34,567 _ Y Elections extended hrs^ $ 25,762 Grant Y 16 ,Lq- Unrestricted Funds (revenue collected for the general .fund) Revenue Fund Recur Brief Description Revenue TOTAL $ 67,970,722 gen'l Property & related taxes $ 52,733,049 78 % State & Local Aid $ 11,935,266 18% Ambulance fees $ ' 617,151 1% Investments $ 506,030 1% Summary: largest components $ 65,791,496 97 % Library Rental $ 800 $ 950 gen'l Y Misc $ 150 gen'l N Town Mgr Cell phone /rental fees $ 106,704 $ 189,014 gen'l Y Alcohol lic $ 63,000 gen'l Y License /permits $ 6,125. gen'l Y . Cable Franchise fee $ 4,275 gen'l Y Misc $ 8,910 gen'l N Community Services Insp Bldgs $ 234,109 $ 384,635 gen'l Y Health lic &permits $ 48,073 gen'l Y Insp Electric $ 38,131 gen'l Y _ Insp Plumbing $ 16,915 gen'l Y Planning appl fees $ 12,785 gen'l Y Consery appl fees $ 11,671 gen'l Y Insp Gas $ 7,722 gen'l Y Insp cert of insp $ 5,694 gen'l Y Occ Permits $ 5,655 gen'l Y Zoning appl fees _ $ 1,350 gen'l Y. Misc $ 2,530 gen'l N DPW Cem service charges $ 118,007 $ 186,275 gen'I Y trash collection charges $ 46,340 gen'l N St. Opening permit $ 6,350 gen'l Y Pkg /Compost $ 4,001 gen'l Y Drain layer license $ 1,900 gen'l N Misc $ 9,677 gen'l N Police /Disp Parking /Compost $ 841300 $ 236,154 gen'l Y Civil MV infractions $ 42,370 gen'I Y Parking fines $ 41,290 gen'l Y Parking leases $ 35,230 gen'l Y Admin fee on Pvt details $ 23,646 gen'l Y ,Lq- Police /Disp (court) Unrestricted Funds (revenue collected for the general fund) gen'I N Academy reimburse $ 2,400 Accident Reports $ 2,007 gen'I Y MV lessor surcharge $ 1,864 gen'I License to carry $ 1,225 gent Y _ Misc $ 1,822 gen'I N Fire Ambulance fees $ 617,151 $ 631,469 gen'I Y Fire inspect fees $ 13,992 gen'I Y Misc $ 326 gen'I N. Finance Property taxes $ 49,009,531 $ 53,693,224 gen'I Y PILOT $ 313,070 gen'I Y Property taxes- deliquent $ 150,824 gen'I Y Prop taxes - state land - $ 48,470 gen'I Y Prop taxes - abatements $ 18,072 gen'I Y Excise taxes $ 2,582,330. gen'I Y Personal Property taxes $ 610,752 gen'I Y Invest Earns $ 506,030 gen'I Y Penalties $ 172,607 gen'I Y lien certificates $ 24,875 gen.'I Y court fees /fines $ 14,675 gen'I N special assessments $ 2,898 gen'I - N bank fee reimburse $ 1,568 gen'I N Town Clerk vitals $ 27,725 gen'I Y Town Clerk dog license $ 24,173 gen'I Y Town Clerk fines /forfeits $ 13,468 gen'I N Town Clerk marriage /maps /fees $ 2,281 gen'I ly Misc $ 169,875 gen'I I N Accounting Ch 70 school aid $ 9,0781-931 $12,649,001 gen" IY Local Aid $ 2,856,335 gen'I Y MSBA $ 462,036 gen'I Y Fed: Medicaid reimburse $ 108,382 gen'I N Vets benefits $ 62,247 gen'I Y Police career $ 38,659 gen'I N MEMA reimburse $ 26,933 gem N Charter schools $ 15,478 gen'I .N Examples of recent Revenue and Expense efforts by Town and Schools Revenues Cell towers MIIA Rewards program Zoning 40R initiatives Economic Development activities MTBE settlement Plan to raise community access sticker cost CY 2011 Review of all fees Meals tax School debit cards rebate Yard sales /surplus equipment Expenses Employees: FYI I zero COLA and no step increases Reduce sick leave; eliminate sick leave buyback; reduce vacation time Health insurance collaboration & program changes to Tiered system Town Hall hours (energy) Performance Contracting (energy) Eliminate positions & consolidate job functions Regionalize rubbish disposal Explore regionalize rubbish collection (discarded) Explore regionalize Finance functions (ongoing) Explore regionalize Public Safety Dispatch (ongoing) ce Committee Meeting August 4, 2010 oe Room, Reading Town Mall The meeting convened at 7:35 PM in the Conference Room of Town Hall FINCOM Members Present: Chair George Hines, Vice Chair David Greenfield, members Barry Berman, Mark Dockser, Frank Fardy, Kevin Leyne, Harold Torman and Marsie West. Members Absent: Bryan Walsh Also Present Assistant Town Manager/Finance Director Bob LeLacheur. There being a quorum the Chair called the meeting to order at 7:35 pm. Public Comment: No comments. FINCOM reorganization: Outgoing Chair turned the meeting over to Bob LeLacheur, who opened the floor to nominations for FINCOM Chair for FYI 1. On a motion by Berman, seconded by Greenfield, the name of Marsie West was raised. There being no.other names put,forth, LeLacheur closed the nominations. By a vote of 8 -0 -0, Marsie West was nominated for FINCOM Chair. LeLacheur turned the meeting over to Ms. West, who opened the floor for nominations for Vice Chair. On a motion by Hines, seconded by' Berman, the name of David Greenfield, was raised. There being nc other names put forth, West closed the nominations. By a vote of 7 -0 -1, David Greenfield was nominated for FINCOM Vice -Chair (Greenfield abstainine). FINCOM liaison assignments: On a motion:by Berman, seconded by Hines, the names of Chair Marsie West and Vice Chair David Greenfield were nominated as FINCOM representatives for the Audit Committee, and confirmed by a vote of 8 -0 -0. West reviewed the other liaison assignments, asking if there were preferences among the members. Hines asked that he be a liaison to the library, in light of his work on the Municipal Building Committee. A few members indicated an interest in the School department. The new temporary list will be attached to these minutes. and finalized during the next FINCOM meeting. FINCOM FYI meeting schedule: Financial Forum I will be held on September 15th with a focus on alternative revenues. Mr. Greenfield asked that expense reduction initiatives be publicly discussed this year as part of the FYI budget process in order to educate the community and Town Meeting. Mr. Hines said that FINCOM has pursued expense reductions and efficiencies for every year since he can recall. lam✓ Financial Forum II will be held on October 27 with a recap of the Town's reserves position, and a look at estimated FY 12 revenues. Given these two, discussion about use of free cash in the FY 12 budget will ensue, and preliminary budget guidance will be given by the FINCOM to all departments according to the historic approaches on accommodated and non - accommodated costs. Mr. LeLacheur indicated on a preliminary basis that Town Accountant Gail LaPointe suggests the Town regenerate a solid number towards free cash from the FY11 budgeted amounts not spent. Mr. Berman said this is always a double -edged sword: on the one -hand this implies the budgets are too high; but on the other given the nature of different areas turning back funds each year that departments do a good job in not spending money unnecessarily. Financial Forum III will be held on January 26, 2011 unless important budget information becomes available sooner. Town -wide technology initiatives: Mr. LeLacheur reviewed a number of projects (see attached). Mr. Greenfield emphasized that he would like to see some cost and effort estimates to have a fully redundant network and further details about backup procedures, as well as a continuity of operations plan (such as has been done by Chief Burns for all departments as a town -wide overview. Mr. LeLacheur said he would bring the request to the next Department Head meeting in two weeks. Multi -Board Revenue Discussion: Mr. Berman would like to suggest a School Committee- Selectman- FINCOM ad -hoc committee. be formed. He requested a map of town -owned land. He suggested the Town should provide the following information to the general public: already cutting expenses; already funding activities with grants; what limits there are on what activities the Town is allowed to do (for example, it cannot invent and sell a product); what options the Town can use to raise revenues, and a thorough review of all fees collected versus other neighboring municipalities. Mr. Dockser suggested a brainstorming session at the first financial forum in September, and volunteered to lead an effort as he has done in the private sector. Ms. West asked Mr. LeLacheur to contact the other major boards with an overview of this discussion. On a motion by Mr. Hines, seconded by Mr. Leyne, FINCOM voted to approve the Minutes of June 9, 2010 as amended by a vote of 7 -0 -1 (Berman abstaining). On a motion by Mr. Berman, seconded by Mr. Hines, FINCOM voted to adiourn at 9 :40pm by a vote of 8 -0 -0. 26