2012-01-18-AC-min-summit 4 - Laserfiche WebLink

Browse Search

Summit Meeting 4 Board of Selectmen, School Committee, Appropriation Committee and Capital Expenditures Committee January 18, 2012 A Summit was held on Wednesday, January 18, 2012, at 7:00 p.m. in the Public Services Building Cafeteria, 201 Bedford Street. Mr. Cohen (acting chair), Mr. Kelley, Mr. Burnell and Ms. Mauger; Mr. Valente, Town Manager; Mr. Addelson, Finance Director, Mr. Kalivas, Budget Officer and Ms. Chabot, Assistant to the Executive Clerk, were present. Also Present: All School Committee (SC) members; Dr. Ash, Superintendent of Schools; Ms. Dunn, Assistant Superintendent for Finance and Business; all members of the Appropriation Committee (AC); all members of the Capital Expenditures Committee (CEC) with the exception of Mr. Hurley. Review FY2013 Proposed Budget (The White Book) Mr. Valente presented the FY2013 Preliminary Budget and Financing Plan. The proposed budget recommended by the Town Manager and Superintendent of Schools is a balanced budget. For FY13 the Town is projecting a $7.2 million increase in General Fund revenues or a 4.7% change, compared to FY12 when the Town was looking at a $5.5 million increase in revenues or a 3.8 % change. Mr. Valente then presented a summary of overall budget categories and reported that the Town is looking at a 6% increase in the entire budget (both the Operating Budget and the Capital Budget) for FY13. Mr. Valente talked about significant changes in the Operating Budget. Under shared expenses, both in the capital category, the Town is looking to increase debt service by 7.3% and cash capital by 9.2 %. Both of these are consistent with efforts to fund more of the Town's deferred capital projects with cash. On the operating side of the budget, two items stand out. One is due to the management of Lexpress being moved out of Public Works and into Human Services. The other item which stands out is the 47.5% increase under Management Information Services. This is due to software licensing fees going up substantially and the recommendation for two new positions in IT as requested by all the Town departments. Mr. Valente talked briefly about Reserve Recommendations and explained that in FY13 modest changes in building the Town's reserves are recommended. These recommendations include a $500,000 increase in the Post - Employment Benefits Fund, and no further increase in the Stabilization Fund Balance (currently at $8,453,000). The budget continues to include about $1.6 million in revenues which are unallocated and still available for appropriation for capital or operating items. Moving from the Operating side to the Capital side of the Budget Mr. Valente gave a summary of all of our recommended capital spending including three years of prior data. The recommended capital plan continues our efforts for an aggressive capital program taking