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1996-02-27-AC-MIN.pdf
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1996-02-27-AC-MIN.pdf
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1996
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Minutes - AC - Appropriation Committee
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APPROPRIATION COMMITTEE MEETING <br /> TUESDAY, FEBRUARY 27, 1996 <br /> COMPTROLLER'S OFFICE, 7:30 PM <br /> Present: P Lapointe, M Miley, R Borghesani, J Pagett, R Colwell, R Leone, M Mairson, <br /> J Ryan <br /> Absent: M Hastings, L Peck <br /> * MOTION to approve, minutes of February 21, 1996 as amended, UNANIMOUS <br /> * General discussion of contacts made in researching the articles as assigned. <br /> R Colwell has discussed articles 24 & 25 with Joyce Miller. Joyce will attend the March <br /> 5th meeting to discuss the two requests (Winning Farm & Augusta property) <br /> * P Lapointe has talked to J Young about the operating budget, enrollment estimates, <br /> technology and space requirements. Jeff will attempt to have his staff attend either the <br /> March 5th or 14th meeting <br /> * P Lapointe has obtained a copy of an audit of the MMRVHS(voke) and will be meeting <br /> with counterparts from Arlington and Belmont on Thursday evening(2/29). Group is <br /> thinking of suggesting a 3 to 7% across the board reduction in the fiscal 1997 <br /> assessments. The town assessment only makes up approximately 40 to 50% of the <br /> operating budget of the school. The remainder is generated by the " businesses" <br /> conducted at the school <br /> * General discussion of the concept of attempting to align operating expenses with <br /> operating revenues and non-operating expenses with non-operating revenues in an attempt <br /> to insure that funding is available for the infrastructure. General consensus was that <br /> something needs to be done but concern expressed over the demands of the operating <br /> budget and the funding available in order to maintain the same level of services. <br /> * R Leone expressed concerns over the apparent leaping into the public power issue, <br /> article 37, Municipalization of Utilities. Bob has had some experience in this area and <br /> will assume a role in reviewing this article <br /> * Discussion of the Fiscal Policy and Recommendation to the 1995 ATM. It was suggested <br /> that the spread sheets prepared by P Lapointe could perhaps be used as a management <br /> tool in budget preparation. AC needs to clearly define who our audience is and how we <br /> are to present our report <br /> * General discussion of free cash. How is it generated? How are estimates prepared? <br /> What are future year projections? Do we only use free cash for capital expenses, debt <br /> service and catch-up? What is an appropriate level for this reserve? Concern expressed <br /> that it is a numbers game that ultimately can be used to balance our current financial <br /> problem. AC needs to spend some time on this issue. Need to drive home the point that <br /> the use of free cash to balance an operating budget problem automatically impacts all <br /> future years unless the program being funded is either cut back or eliminated. <br /> * P Lapointe discussed the possibility being floated that the town seek a debt exclusion of <br /> existing debt as well as future debt. If this were to take place the pressure on the <br /> operating budget would be removed at least in the short term <br /> * P Lapointe will attempt to do some work prior to the next meeting in making projections <br />
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