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2005-01-26-AC-summit
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2005-01-26-AC-summit
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Last modified
3/2/2022 3:25:58 PM
Creation date
3/9/2009 5:21:36 PM
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Year
2005
Department
Town Clerk
Keywords or Subject
Minutes - AC - Appropriation Committee
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<br /> <br />Budget Collaboration Group III <br />January 26, 2005 <br /> <br />The four committees convened the meeting at 6:30 p.m. Mrs. McKenna called <br />the <br />meeting of the Board of Selectmen to order Mrs. Krieger, Mr. Kennedy, Mr. <br />Kelley and <br />Mr. Pagett were present. Mr. Griffiths called the meeting of the School <br />Committee to <br />order. George Burnell called the meeting of the Capital Expenditures Committee <br />to <br />order. The Appropriation Committee did not have a quorum. It will be called to <br />order <br />once they have a quorum in attendance. <br /> <br />Ms. Vine distributed copies of the press release she issued regarding Moody’s <br />affirmation <br />of Lexington’s AAA Rating. <br /> <br />The four committees met in joint collaboration to try to resolve the gap in the <br />budget. <br />Mrs. McKenna reviewed the steps municipal departments have taken since the <br />last <br />collaboration meeting. Mr. Griffiths did the same for the School Committee; the <br />amount <br />of the currently voted School Department Budget is $70,120,468. <br /> <br />Alan Levine called the meeting of the Appropriation Committee to order. <br /> <br />John Ryan reviewed the Pro Forma. The gap between expenses and revenue is <br />currently <br />projected to be $1,800,463. <br /> <br />Mrs. McKenna reviewed the policies we needed to discuss to decide how to <br />close the <br />gap. <br /> <br />The first issue was whether we will release funds from prior years overlay <br />accounts. Mr. <br />Ryan estimates $425,000 will be available for this purpose. <br /> <br />Other policies discussed were whether to use money from either the Stabilization <br />Fund or <br />from the contribution expected for the Stabilization Fund; whether or not to use <br />Free <br /> <br />
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