HomeMy WebLinkAbout2005-01-26-AC-summit
Budget Collaboration Group III
January 26, 2005
The four committees convened the meeting at 6:30 p.m. Mrs. McKenna called
the
meeting of the Board of Selectmen to order Mrs. Krieger, Mr. Kennedy, Mr.
Kelley and
Mr. Pagett were present. Mr. Griffiths called the meeting of the School
Committee to
order. George Burnell called the meeting of the Capital Expenditures Committee
to
order. The Appropriation Committee did not have a quorum. It will be called to
order
once they have a quorum in attendance.
Ms. Vine distributed copies of the press release she issued regarding Moody’s
affirmation
of Lexington’s AAA Rating.
The four committees met in joint collaboration to try to resolve the gap in the
budget.
Mrs. McKenna reviewed the steps municipal departments have taken since the
last
collaboration meeting. Mr. Griffiths did the same for the School Committee; the
amount
of the currently voted School Department Budget is $70,120,468.
Alan Levine called the meeting of the Appropriation Committee to order.
John Ryan reviewed the Pro Forma. The gap between expenses and revenue is
currently
projected to be $1,800,463.
Mrs. McKenna reviewed the policies we needed to discuss to decide how to
close the
gap.
The first issue was whether we will release funds from prior years overlay
accounts. Mr.
Ryan estimates $425,000 will be available for this purpose.
Other policies discussed were whether to use money from either the Stabilization
Fund or
from the contribution expected for the Stabilization Fund; whether or not to use
Free
Cash to increase new growth estimates; to bond Cash Capital and use tax levy
dollars; to
put an override question to the voters; and what level of reductions to make in
Service
Requests.
The group agreed that the appropriate process was to ask for a sense of the
three Boards
would be taken on each of the policy issues. Then Selectmen then would
actually vote
which policies to adopt.
Upon motion duly made and seconded, it was voted 4 – 1 (Kelley) to use
$425,000 from
prior year overlay accounts.
Upon motion duly made and seconded, it was voted not to bond Cash Capital.
Mrs. Krieger made a motion to use $400,000 of Free Cash. The motion was not
seconded.
Upon motion duly made and seconded, it was voted not to use free cash.