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APPROPRIATION COMMITTEE MEETING <br /> WEDNESDAY,AUGUST 27, 1997 <br /> 7:30 PM,BOARD OF SELECTMEN MEETING ROOM <br /> Present: P Lapointe, R Borghesani, S Coit, R Colwell,P Hamburger, A Levine, I Mroczkowski, <br /> R Pawliczek, J Ryan <br /> Absent: M Miley <br /> * AC should focus on a five year baseline projection for both revenue and expenditure ( income <br /> & expense) <br /> * AC will attempt to understand and present the effect differing levels of debt service will have <br /> on a Lexington residential property. Is there a relationship between a level of capital <br /> investment(overrides) and home values? <br /> * CEC will continue their efforts in preparing a five (5) year capital budget <br /> * Out years become suspect as to their accuracy. Departments will estimate high for needs and <br /> low for revenue thereby creating possible deficits. <br /> * General discussion of a town wide compensation policy <br /> * Discussions as to whether the AC should be a policy advisor or react to and recommend <br /> * P Hamburger expressed concern that the estimates never seem to hold true. Why is reality <br /> different from the projections? Perhaps ranges should be used in making estimates rather <br /> than using a specific percentage. Need to get BOS and SC to commit on the assumptions. <br /> * AC should analyze at least one year to determine why the actual vary from the original <br /> estimate. <br /> * JOINT MEETING WITH CAPITAL EXPENDITURES COMMITTEE <br /> * Present: W Kennedy, C Hornig, S Stoltz, K Dooks <br /> * General discussion around the role each committee will play and the areas they will spend their <br /> energies. <br /> * General discussion surrounding the possibility of a special town meeting and debt exclusion <br /> vote. <br /> * Clear consensus that the BOS should begin the process and let Town Meeting and the citizens <br /> begin the public discussion of the project. <br /> * Need to identify tangible costs which will need to be dealt with if there is not a successful debt <br /> exclusion vote. Possible delay of one (1) year in construction if there is no fall town meeting. <br /> * Need to have a time line for a special town meeting as well as an election. A construction <br /> calendar is also necessary. <br /> * Next meetings: September 3rd @ 7:30 pm,joint meeting @ 8:30 pm <br /> September 18th @ 7:30 pm ,joint meeting @ 8:30 pm. <br /> * Motion to adjourn <br /> ac8.27 <br />