2019-02-07-AC-min - Laserfiche WebLink

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02/07/2019 AC Minutes • Policy to draw down the use of Free Cash to fund the operating budget • The amount to be appropriated to the PEIL Fund for other post-employment benefits. • The School Department budget; in particular the additional $380,000 requested by the School Committee. • Inter-Municipal Agreement with Minuteman Technical HS • The $700,000 tax levy for cash capital and how that is to be used. • The use of the Capital Stabilization Fund for within-levy debt • Re-evaluating the "5% rule" governing annual debt growth • General financial policy development: Although this was identified, Ms. Kosnoff suggested that staff needs to address this first. Additional suggestions should be forwarded to Mr. Parker by Monday. Guests to Speak to this Committee Regarding Warrant Articles Suggestions of people to invite to a meeting of this committee included the following" • Ricki Pappo, as a proponent of the sustainability articles. • David Kanter, Vice-Chair and Clerk of the Capital Expenditures Committee (CEC), to discuss CEC positions. • Marilyn Fenollosa, Chair of the CPC, to discuss projects requesting CPA funding. It was agreed that if Lexington and Minuteman Technical High School(Minuteman Tech) negotiate an Inter-Municipal Agreement to share expenses and use of athletic fields to be built for the new Minuteman Tech facility, it would be advisable to discuss the financial impacts with a representative of the school and/or the Town's proponents of the agreement. Minutes It was noted that Mr. Michelson is preparing minutes for the January 30, 2019, meeting. The January 17, 2019, minutes were approved at that meeting; Ms. Arnold agreed to distribute and archive those approved minutes. The meeting adjourned at 9:32 p.m. Respectfully submitted, Sara Arnold Approved: February 21, 2019 Exhibits • Agenda,posted by Mr. Parker, Chair 3