HomeMy WebLinkAbout2001-11-06-CEC-summit
MEETING DATE 11/6/2001-SUMMIT
Call to order 7.10 PM
Present all CEC except TomG, All SC, All BOS, Six members of AC, John Ryan, Joanne Benton,
Rick White, CandyM
RickW , JoanneB and CandyM Presented the overview of the budget gap. RW noted that the
town admin. had been given guidelines not to restrict their programs in making budget requests
and also to include inflation which may show larger increases compared to FY 02. CandyM
explained the reduction of 702K on available cash capital representing the expiration of SBAB
reimbursements. PaulH and SheldonS enquired about the extent of increase due to new
programs and inflation. RickW said in excess of 800K and JoanneB said about 300K.
The main discussion on the budget gap of 5.7 million was the 702K reduction in CC funds.
CharlesH questioned the logic of reducing the entire 702K from CC rather than 5% of the revenue
drop, since our policy was 5% of general funds, that included the SBAB reimbursements. He
emphasized the need to keep the 5% policy while giving possible consideration to one time
current year budget gap to divert CC funds. This issue got lots of comments.
PeterE commented that while he agreed with the overall policy, we all perhaps missed the expiry
of SBAB reimbursements. NarainB commented that the policy was based on the capital needs
when it was adopted and because the capital improvements had been neglected for a long time,
so it should not be changed now. This was echoed by PaulC (after polling AC), DawnM and
concluding in remark by JeanK that the consensus seems to be to keep the current (5% of last
year's general revenue) policy, leaving room for current year exception, and clarifying that all the
non-excluded, general fund debt service like the proposed borrowing for the library, should be
part of CC.
Next two summit meetings set at 7.30 PM on Dec 5 and Jan 16.
Summit adjourned 8.05 PM
CEC continued to listen to SC meeting.
Respectfully submitted,
Narain Bhatia
8 Nickerson Rd
Lexington, MA 02421
email: bhatia@cheerful.com
Tel: 781-863-0893 (USA)
Fax: 781-861-1143