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April 20, 2011 begin work on the report to the Annual Town Meeting earlier in the year will help the Committee address issues before the warrant is finalized. Town meeting procedures for reconsideration were discussed as well as making a record of Committee votes that were not included in the Committee's written report or that were changed during the Town Meeting. Report printing invoices were sent to Mr. Addelson and they are being processed. 4. House Ways &Means FY 2012 Budget Proposal. The Governor's budget was endorsed by Ways &Means and there will be a reduction in state aid of about $60k. The Committee discussed the snow and ice deficit ($560k) and financing options to include the following: • AC reserve or other internal transfers • FY12 budget surplus ($650k -- the snow and ice deficit could carry forward into FY12) • Revenue ($300k) from next year set aside to cover any anticipated shortfall • Free cash ($4.8m) • Ch. 90 funds (to include an additional $200k more than planned, or a total of $900k) 5. Future Projects and Meeting Topics. The following were identified as potential future projects and meeting topics: • Annual appropriation for design tasks at DPF. This should be planned as a joint meeting with the CEC and Pat Goddard. • Water and wastewater enterprise funds. Mr. Bartenstein will look into the possibility of combining these funds over the summer with the goal of addressing the issue at a September meeting. • Retiree Health Benefits (OPEB). A list of issues and analysis needs to be prepared. • Demographic data /analysis foN Lexington. Cyclical growth patterns and population growth that will impact town revenue and resources need to be evaluated. • Snow and ice removal procedures. Mr. Neumeier and Mr. Michelson will explore cost issues and possible innovations with DPW director Bill Hadley. • Assessments. Review issues brought to light at Town Meeting and meet with the Board of Assessors to address questions. This should not be scheduled before the fall when a new Assessor is expected to be hired. The meeting was adjourned at 9:40 p.m. A list of documents and other exhibits used at the meeting is attached. Respectfully submitted, Andrea Yepez Recording Secretary Approved October 27, 2011 2