2009-09-22-AC-min - Laserfiche WebLink

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September 22, 2009 budgeting purposes. The amounts received in FYs 2007 and 2008 were appropriated at the 2008 and 2009 Annual Town Meetings, respectively, toward the funding of the Town's unfunded OPEB (other post - employment benefits) liability. The balance is attributable to bond premiums paid by underwriters in connection with the issuance of Town debt. The Committee discussed the impact of the updated free cash estimate on budget planning for FY2011. It was noted that because the estimate is some $3 million higher than the amount assumed during the deliberations of the Ad Hoc Fiscal Task Force earlier in the summer, the recommendation of the Task Force to consider significant withdrawals from the Stabilization Fund to help balance the FY2011 budget should be revisited. 3. Structure of the Committee and Election of Officers. The Committee continued its discussion of organizational and operational issues and the possibility of engaging in a facilitated strategic planning process later in the fall. Pam Hoffman and Mollie Garberg will look into the matter further and seek a facilitator who could assist the Committee on a pro bono basis. There was also a discussion of the importance of planning for future changes in leadership. The Committee then voted unanimously to elect Alan Levine as Chair, to elect Glenn Parker and John Bartenstein as co- Vice - Chairs for the balance of FY2010, and to appoint John Bartenstein as Secretary. It was agreed that these positions might be revisited after a strategic planning process. 4. School Facilities Planning. Pam Hoffman and Richard Eurich gave a report on the discussions of the School Facilities Committee, whose meetings they have been attending as liaisons. That committee is expected to recommend major renovations and improvements at the High School and at four of the elementary schools on an urgent basis. There was a discussion of the implications of such a recommendation in a time of fiscal austerity and how such improvements might be funded. 5. Future Meeting Schedule. The first financial summit for FY2010 will be held on Thursday, October 1 and will focus on anticipated revenue and revenue allocation. After this, Committee meetings are scheduled for October 8, 14, 21, 28 and November 4. The Community Preservation Committee has proposed a joint meeting with the Board of Selectmen and the financial committees for November 12. The Annual Meeting of the Association of Town Finance Committees (ATFC) will be held on October 24, and Mollie Garberg is planning to attend. The meeting was adjourned at 10:00 p.m. Respectfully submitted, John Bartenstein Approved October 8, 2009 -2-