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<br />70-382
<br />Summit Meeting 3
<br />Board of Selectmen, School Committee, Appropriation Committee
<br />and Capital Expenditures Committee
<br />December 1, 2016
<br />A Summit was held on Thursday, December 1, 2016, at 7:00 p.m. in the Public Services
<br />Building Cafeteria, 201 Bedford Street. Ms. Barry, Chair, Mr. Pato, Mr. Kelley, and Mr. Cohen;
<br />Mr. Valente, Town Manager; Mr. Addelson, Assistant Town Manager for Finance, Mr. Goddard,
<br />Public Facilities Director, Ms. Hewitt, Budget Officer and Ms. McIntosh, Executive Clerk were
<br />present.
<br />Also Present: School Committee (SC) members: Mr. Hurley, Chair, Ms. Steigerwald, Ms. Jay,
<br />Mr. Alessandrini, Ms. Crocker; Dr. Czajkowski, Superintendent of Schools; Appropriation
<br />Committee (AC) members: Mr. Bartenstein, Ms. Garberg, Mr. Levine, Mr. Michelson, Mr.
<br />Neumeier, Mr. Radeluscu-Banu, Ms. Yang; Capital Expenditures Committee (CEC) members:
<br />Ms. Hai, Chair, Mr. Cole, Mr. Kanter, and Ms. Manz.
<br />Not Present: Ms. Ciccolo, Board of Selectmen, Mr. Parker, Chair, Appropriation Committee
<br />Ms. Barry called the Board of Selectmen meeting to order at 7:00 p.m. and called upon the chairs
<br />of the School Committee, Appropriation Committee and Capital Expenditures Committee to call
<br />their committees to order.
<br />Proposed FY18 Revenue Allocation Model
<br />Mr. Valente explained that this is the Summit to review the Town’s new revenue projections for
<br />FY18 and allocate them into four buckets; fixed costs, capital, reserves and operating costs
<br />which includes school and municipal operations. At Summit 1, Mr. Valente provided the group
<br />with an overview of the Town’s financial condition and a three year revenue and expenditure
<br />projection. FY18 looked relatively positive; however in FY19, while still in a strong position
<br />without additional revenues, the stress of the increasing school age population is beginning to be
<br />felt and in FY20 it gets more serious in terms of having a balanced budget. At Summit 2, FY18
<br />revenue projections were presented and that will be the basis now for Summit 3, for a discussion
<br />of how those revenues will be allocated.
<br />Mr. Valente presented a 3-year revenue allocation history along with what is projected for FY18.
<br />Overall there is relative strong revenue growth; 6.6% over FY17. However, there is starting to
<br />be some moderation in revenue increases. Mr. Valente asked the group to keep this in mind.
<br />Mr. Addelson, Assistant Town Manager for Finance, presented the FY2018 Revenue Allocation
<br />model. He reported that the projected revenue for FY18 is approximately $209 million. He
<br />pointed out that included in the list of fixed costs, is approximately $14 million recommended for
<br />various set asides, of which $618,148 is set aside for unallocated needs. After fixed costs,
<br />approximately $8.7 million in incremental revenue is left. That amount is allocated at 73.7% to
<br />the school side and 26.3% to the municipal side. The school share of incremental FY18 revenue
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