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<br /> January 19, 2005 <br />Budget Collaboration Meeting <br />January 19, 2005 <br /> <br />A Budget Collaboration Meeting was held on Wednesday, January 19, 2005, at 6:30 p.m. <br />in the Library Media Room at Lexington High School. Members of the Board of <br />Selectmen, School Committee, Appropriation Committee and Capital Expenditures <br />Committee were present. <br /> <br />Mrs. McKenna called the meeting of the Board of Selectmen to order. <br /> <br />Mr. Griffiths called the meeting of the School Committee to order. <br /> <br />Ms. Brown called the meeting of the Appropriation Committee to order. <br /> <br />Mr. Lamb called the meeting of the Capital Expenditures Committee to order. <br /> <br />Ms. Vine began the meeting by discussing the Moody’s meeting that took place on <br />January 14, 2005. Ms. Vine told the group that Moody’s strongly recommends the Town <br />review its policies regarding the Stabilization Fund, the use of Free Cash and Pension <br />Holiday. Ms. Vine hopes to receive results of the meeting this week. <br /> <br />Review of Municipal & School Budget Development <br /> <br />Mrs. McKenna stated that the Board of Selectmen has reviewed almost all the municipal <br />departments budgets. The Board is still addressing where critical needs are. <br /> <br />Mr. Griffith, School Committee, said level services would not accommodate enrollment <br />increases in the schools. Mr. Griffith also said the School Committee had voted to adopt <br />the Superintendent’s level staffing budget for FY06. The level-staffing budget includes <br />$820,000 for growth. <br /> <br />NESWC Settlement <br /> <br />Mr. Ryan, Acting Comptroller, told the Boards that the Town’s contract with the <br />Andover plant expires in September 2005. At the conclusion of the contract the Town <br />will receive approximately $500,000 reimbursement. The funds will be an FY06 receipt; <br />they are not reflected in the proforma presented to the Boards tonight. <br /> <br />The Boards need to determine the best use for these funds. <br /> <br />Ms. Brown, Appropriation Committee, reminded the group that the NESWC Settlement <br />is a non-recurring receipt and it has been the policy of the Town not to use non-recurring <br />receipts to pay for reoccurring expenses. Ms. Brown suggested adding the $500,000 to <br />the Stabilization Fund, this would free up tax levy dollars to reduce the current budget <br />gap. <br /> <br /> - 2 - <br /> <br />