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January 27, 2005 <br /> <br />The AC did unanimously agree with the BOS position to leave the Growth amount in <br />the FY06 budget at $1,000K. <br /> <br />Although not voted upon, there was general agreement that any adjustment to the <br />Snow-and-Ice appropriation be made in an override year. <br /> <br />4. It was agreed that the AC will request from the Town Moderator that time be set <br />aside during the regular Town Meeting for a budget-information session. <br /> <br />5. Paul Hamburger and Eric Michelson will attend the next Budget Process Meeting. <br /> <br />6. George Burnell reported on the progress of the Capital Expenditures Committee <br />(CEC) for the FY06 budget. They are proposing that $2,745K of projects be funded and <br />BANs be the source of financing. (Debt principal repayments of $2,760K are in the FY06 <br />budget.) In addition, the FY06 budget has $713K allocated for cash capital. Projects <br />totaling $143K submitted by DPW as capital but viewed by the CEC as operating will be <br />reclassified as operating and will be funded from the $713K. This leave $570K for <br />capital projects to be paid from the tax levy. The complete list of CEC recommended <br />projects is available from the CEC. <br /> <br />7. John Bartenstein and Deborah Brown met with town representatives and the auditors <br />on issues relating to the Water and Sewer Enterprise Funds. The auditors reported that <br />most likely $3,000K of accounts receivable will need to be written off. At that meeting, <br />the AC members requested that the audit also address under-billing and potential non- <br />billing. <br /> <br />The meeting was adjourned at 10:15 . <br />PM <br /> <br />Respectfully submitted, <br /> <br />Ron Pawliczek <br />Acting Secretary <br /> <br /> <br />Approved February 16, 2005 <br />Page 2 of 2 <br />