2011-10-05-AC-min-summit - Laserfiche WebLink

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October 5, 2011 Summit Meeting Board of Selectmen, School Committee, Appropriation Committee and Capital Expenditures Committee October 5, 2011 A Summit was held on Wednesday, October 5, 2011, at 7:00 p.m. in the Public Services Building Cafeteria, 201 Bedford Street. Chairman Manz, Mr. Kelley, Mr. Cohen, Mr. Burnell and Ms. Mauger; Mr. Valente, Town Manager; Mr. Addelson, Finance Director, Mr. Kalivas, Budget Officer; Mr. Goddard, Director of Public Facilities and Ms. Chabot, Assistant to the Executive Clerk, were present. Also Present: All School Committee (SC) members with the exception of Ms. Brodner and Ms. Steigerwald; Dr. Ash, Superintendent of Schools; all members of the Appropriation Committee (AC) with the exception of Ms. Garberg; all members of the Capital Expenditures Committee(CEC); and Mr. Himmel, chair, Permanent Building Committee. Sign Special Town Meetiniz Warrant Mr. Manz reported that the School Committee has requested the Selectmen to sign the Warrant for the Special Town Meeting on Monday, November 14, 2011. Upon motion duly made and seconded, it was voted 4 -1 (Kelley opposed) to sign the Warrant for the Special Town Meeting on Monday, November 14, 2011. Procedure for Meeting Minutes for Summit Meetings Mr. Manz opened the discussion by explaining that since all of the groups attending the Summit are required to post the meeting, they all need to have agendas and minutes. It was decided that all of the groups would point to the same agenda posted by the Selectmen and reference the Selectmen's minutes. FY2013 Budget Kick -Off Discussion Mr. Valente noted that the information presented tonight is available on the Town's website. The presentation provides an informed snapshot of Lexington's financial condition to assist policymakers in preparing for the FY2013 Budget Process. Evaluation of the Fiscal Health of the Town — Indicator Analysis, FY 2000 - 2011 Using a series of recognized metrics from professional organizations, including the International City /County Management Association, (ICMA), the Government Finance Officer's Association (GFOA), Moody's Investor's Service, and data from the Town of Lexington, the Mass. Department of Revenue, the Mass. Department of Education, and the U.S. Census Bureau, Town staff has compiled 14 indicators with which to evaluate the Town's fiscal health. Mr. Valente reported that Lexington's financial condition is generally sound. In particular, Lexington has positive revenue growth, stable labor costs as a percentage of total operating costs, -2-