2000-02-17-AC-MIN.pdf - Laserfiche WebLink

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• ARTICLE 12: Accessibility of the Old Reservoir. C Welch will report when K Simmons has returned. No Vote Taken • ARTICLE 13: School Technology Program. R Pawliczek will meet with S Bottan next week and report back to AC. No Vote Taken • ARTICLE 15: Stabilization Fund. P Hamburger will do the write-up. No funds are being sought at this time. No Vote Taken • ARTICLE 16: Retirement Board. General discussion surrounding the granting of a COLA which may be in excess of the regional cost of living increase. J Ryan explained that the maximum COLA will be 3% on the first$ 12,000 of pension allowance, or a maximum increase of$360. There are 226 retirees who receive an annual pension allowance of$12,000 or less. The current year's COLA was set at 1.3%(warrant is in error at 2.1%). The additional cost for a 3%vs. a 1.3% Coal is approximately $46,000. The value of the Retirement Board portfolio was $77 million at the end of 1999. A Levine and E Michelson will do the write-up. No Vote Taken • ARTICLE 22: By-Law Amendment-Appropriation Committee. P Hamburger will write-up. Committee in favor. NoVoteTaken • ARTICLE 25: Use of Funds to Reduce Tax Rate. P Hamburger will write-up. No Vote Taken. • C Welch discussed the progress of the Library Trustees fund raising efforts. Since July 1999 they have received pledges of$1.2 million. • D Brown distributed and a discussion followed on her research in to town comparisons (see handout). Difficult to compare one community to another. Attempt will be made to simply state the facts and let the reader come to their own conclusions. • C Welch distributed information regarding the Recreation Fund(balance sheet as of 12/31/99, FY 99 recreation revenues and Retained Earnings as of June 30, 1999, Income Statement, June 30, 1999). Discussion about possible PILOT, how are indirects calculated, is the$75,000 too high, too low?What is a reasonable amount to carry as a retained earnings amount when other tax-supported issues are not being funded? C Welch will attempt to get an accounting of the indirect costs incurred by the DPW from B Gilbert. • MOTION: To Adjourn Ac02.17.00