2011-11-09-AC-min - Laserfiche WebLink

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November 9, 2011 Vote to recommend approval of all line items with the exception of that for engagement of a police sergeant Assessment Center: Approved 8 -0 -0 Vote to recommend approval of the police sergeant line item: 7 -1 -0 Article 5: Specified Stabilization Funds — A motion was made and seconded to recommend approval of Article 5. Vote: Approved 8 -0 -0 Article 6: Stabilization Fund — This article is expected to be postponed indefinitely, and the Committee did not vote. Mr. Addelson explained that the Stabilization Fund is typically used as a repository of money to address revenue shortfalls in the event of an economic downturn (for a 3 -year period) instead of as a fund for capital items. The Committee discussed appropriate uses of surplus revenue, in lieu of appropriating it to the Stabilization Fund, and the budgetary impact of allowing those funds to flow to Free Cash at the end of FY 2012. Article 7: Authorized Capital Improvements — A motion was made and seconded to recommend approval of Article 7. Vote: Approved 8 -0 -0 3. Report to the Special Town Meeting. The Committee conducted a detailed and final review of the draft of its report to the Special Town Meeting scheduled to occur on November 14 2011. The committee identified minimal changes that needed to be made. The Committee confirmed with Mr. Addelson the appropriateness of his model to estimate the impact of a debt exclusion for the Bridge, Bowman and Estabrook school projects on the average taxpayer. The Committee also discussed the report's treatment of: issues affecting the schools, including the Avalon Bay School Enrollment Mitigation Fund and changes in revenues and expenses from the last Annual Town Meeting, including the set - aside for state aid reduction; the implications of using free cash (non- recurring revenue that is not a reliable funding source) for project funding, the operating budget or reducing the tax levy; and the impact of the School Committee's decision to reduce school music fees on the annual allocation of revenue between the School Department and municipal budgets, given that such fees flow to the General Fund and are not accounted for in the school budget. The Committee determined that members who wrote Report sections related to specific Articles would speak about those Articles at Town Meeting. A motion was made and seconded to approve the report with changes as discussed. Vote: Approved 8 -0 -0 SUMMARY OF ACTION ITEMS: Tonight's minutes will be reviewed by Ms. Schonfeld. 2