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HomeMy WebLinkAbout1997-08-27-AC-MIN.pdf APPROPRIATION COMMITTEE MEETING WEDNESDAY,AUGUST 27, 1997 7:30 PM,BOARD OF SELECTMEN MEETING ROOM Present: P Lapointe, R Borghesani, S Coit, R Colwell,P Hamburger, A Levine, I Mroczkowski, R Pawliczek, J Ryan Absent: M Miley * AC should focus on a five year baseline projection for both revenue and expenditure ( income & expense) * AC will attempt to understand and present the effect differing levels of debt service will have on a Lexington residential property. Is there a relationship between a level of capital investment(overrides) and home values? * CEC will continue their efforts in preparing a five (5) year capital budget * Out years become suspect as to their accuracy. Departments will estimate high for needs and low for revenue thereby creating possible deficits. * General discussion of a town wide compensation policy * Discussions as to whether the AC should be a policy advisor or react to and recommend * P Hamburger expressed concern that the estimates never seem to hold true. Why is reality different from the projections? Perhaps ranges should be used in making estimates rather than using a specific percentage. Need to get BOS and SC to commit on the assumptions. * AC should analyze at least one year to determine why the actual vary from the original estimate. * JOINT MEETING WITH CAPITAL EXPENDITURES COMMITTEE * Present: W Kennedy, C Hornig, S Stoltz, K Dooks * General discussion around the role each committee will play and the areas they will spend their energies. * General discussion surrounding the possibility of a special town meeting and debt exclusion vote. * Clear consensus that the BOS should begin the process and let Town Meeting and the citizens begin the public discussion of the project. * Need to identify tangible costs which will need to be dealt with if there is not a successful debt exclusion vote. Possible delay of one (1) year in construction if there is no fall town meeting. * Need to have a time line for a special town meeting as well as an election. A construction calendar is also necessary. * Next meetings: September 3rd @ 7:30 pm,joint meeting @ 8:30 pm September 18th @ 7:30 pm ,joint meeting @ 8:30 pm. * Motion to adjourn ac8.27