1996-12-12-AC-MIN.pdf - Laserfiche WebLink

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APPROPRIATION COMMITTEE MEETING THURSDAY, DECEMBER 12, 1996 COMPTROLLER'S OFFICE, 7:30 PM Present: P Lapointe, M Miley, R Borghesani, S Coit, R Colwell, I Mroczkowski, R Pawliczek, L Peck, J Ryan Absent: R Leone Also Present: K Dooks, R Grammont, C Touart * Items to be discussed are as follows: minutes, capital financing article, J Young letter, Monday meeting with principal players, MMRVHS School Committee meeting, tax rate recap sheet and spending from the general fund for capital and debt service. * R Borghesani distributed and discussed the spread sheet and graph covering the past ten years ( see handout) . Average expenditures for cash payments and debt service supported by the tax levy seems to be in the area of 6% per year. * K Dooks met with Town Manager re: capital ( see handout of draft capital requests as prepared by the Capital Budget Committee) Town manager has preliminarily a $ 100,000 request for the Stabilization Fund with the intent of doubling the request each year * Discussion of the school technology capital request * P Lapointe discussed and is prepared to put together an article to discuss the funding of a capital program. Discussion of what might be an appropriate level, 5, 6, 7 $% of the tax levy or a% of the total amount to be raised or some other predetermined % or amount. General consensus was that the resolution to be presented must have the support of the AC, BOS and CEC. * R Borghesani discussed the General Fund, tax levy supported capital expenditures have been running at approximately 1.5% ($ 750,000) for cash payments and 3.5% for debt service. All additional capital will probably require an exemption. * P Lapointe raised another possibility of perhaps allocating $ 1.00 of the tax rate for capital, based on assessed value of$ 3.5 billion there would be $ 3.5 million available for capital. * There seems to be a lot of problem identification and little problem solving, said P Lapointe. * Possible solution would be include in each department with capital needs a depreciation expense to be transferred to the stabilization fund. * Need to deal with equipment replacement, envelope costs as well as unique purchases such as the purchase of conservation land. * P Lapointe will draft a resolution article and submit it to Town Counsel. * P Lapointe discussed the letter he received from J Young requesting that the AC participate in examining any specific area of the school budget, such as special education. General consensus is that the AC needs to take him up on his offer. P Lapointe and R Borghesani will meet with J Young. * General discussion of the handout from the Town manager dated Dec 5th. * Motion to adjourn acdcl2