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APPROPRIATION COMMITTEE MEETING THURSDAY, OCTOBER 2, 2003, 7:30 PM, ROOM 111 Present: D Brown R Pawliczek, A Levine, P Hamburger, K Dooks, S Spector, R Burtch, E Michelson, A Nedzel, J Ryan Also Present Jane, Richard Pagett • D Brown discussed the "gang of 8"that took place today. Town Manager distributed a schedule for summit discussion. The schedule identified the FY 2004 current financial position with some options for dealing with the problem. • There will be a Summit Meeting on Tuesday, October 14, 2003 at 8:00 pm in Commons II at the high school. • There will be a League of Women Voters meeting on October 16, 2003 to explain the construction of the municipal budget. D Brown and J Ryan will participate. • The AC meeting scheduled for October 16, 2003 has been cancelled. • The BOS are planning on scheduling the Special Town Meeting for Monday, November 17, 2003. • Discussed the proposal by the Town Manager to apply$710,000 to the existing FY 2004 budget deficit, Concern expressed over the use of the NESWC tip stabilization fund and what impact that action will have on the FY 2005 budget. AC members will provide a short analysis of each of the proposals contained in the $710,00 proposal. • D Brown relayed the information that the actual growth figure for FY 2004 will probably be approximately$300,000 greater than anticipated. This excess will be used to reduce the FY 2004 deficit. • The AC discussed the possibility of the Retirement Board adjusting their current funding schedule from 2010 to 2013. This would reduce the annual appropriation to the Retirement Board by approximately$400,000 per year. The Retirement Board currently has reservations about adjusting the schedule. They feel they have a fiduciary responsibility to fund the system and not to be concerned over a budget shortfall. • The Town and School Departments have been instructed to create a list of possible cuts in the FY 2004 appropriations in the range of$150-170,000. The list should be prepared prior to the Summit on October 14, 2003. • AC will prepare a metric to be distributed at the Summit providing all the participants with the AC suggested remedies to the FY 2004 deficit.