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The task force acknowledges that implementing policies concerning reserve levels and <br />capital expenditures can have a profound short and long-term effect on the operating <br />budget. However, the task force believes that the FPRC can serve the community well by <br />providing an analytical, objective, and apolitical review of and recommendations for <br />financial policies. Further, implementation of such policies will in the long run provide <br />greater stability to the budget process. <br /> <br />Some on the task force felt a review of town goals and objectives should either precede or <br />accompany the FPRC’s work. One member of the taskforce advocated for a long range or <br />strategic planning taskforce that would provide historical analysis of financial drivers and <br />address broader questions of structural financial trends affecting town finances. Some on <br />the taskforce recommended that the FPRC be directed to develop acceptable ranges rather <br />than specific targets to allow for flexibility during times of prosperity and adverse <br />economic conditions. <br /> <br /> <br />2) Improve the Collaborative Budget Development Process <br />The taskforce felt that delays in the Selectmen’s vote on a recommended budget reduce <br />and compress the time available for public understanding and comment. Additionally, <br />with budget decisions delayed to February or March, the proposed budget can not be a <br />campaign issue for candidates running for the Board of Selectmen, School Committee, or <br />Town Meeting. <br /> <br />For these reasons, the task force proposes changes in the schedule and objectives of the <br />Budget Collaboration Group (Board of Selectmen, School Committee, Appropriation <br />Committee, and Capital Expenditures Committee) to improve the collaborative budget <br />development process. The task force proposes that the Budget Collaboration Group <br />conduct three public “milestone” meetings as outlined below, and that the Board of <br />Selectmen and School Committee act to ensure publication by February 1 of the <br />recommended budget for the fiscal year beginning July 1. <br /> <br />The task force proposes the following schedule and objectives for each “milestone” <br />meeting of the Budget Collaboration Group. <br />Fiscal Policies and Budget Guidelines: Meeting No Later Than October 15 <br />Review prior year fiscal results, revenue and expense estimates for current year, <br /> <br />and projections for budget year. <br />Confirm fiscal policies regarding reserves, use of free cash, funding for capital <br /> <br />improvements, etc. <br />Articulate the shared frameworks, guidelines, and assumptions for preparing the <br /> <br />school and municipal operating and capital budgets. <br />Confirm schedule for remaining Budget Collaboration Group meetings. <br /> <br />Proposed Budget Presentations: Meeting No Later Than December 15 <br />School Committee and Board of Selectmen present proposed operating and <br /> <br />capital budgets developed within frameworks previously agreed to. <br /> <br />