2/20/2003 BOARD OF SELECTMEN Minutes

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is ■ Board of Selectmen Minutes February 20, 2003 Joint Meeting--Finance Committee—Budget Discussion: The Town Administrator distributed the most recent revenue analysis and budget recommendations for fiscal year 2004. It was noted that the budget document reflects additional reductions totaling $132,538. The analysis of available revenues as detailed reflects a balanced budget utilizing funds for offset contained in stabilizatior, $750,000 and from overlay surplus in the amount of$300,000. The Finance Committee has scheduled them budget review next Tuesday, and agreed to firthr discuss and consider the Town Administrator's proposal for a balanced budget as outlined. An in-depth discussion followed with respect to the use of stabilization funds and potential for a 2 1/ override. The impact and individual financial crisis on residents, especially senior citizens was also a noted concern. In an effort to conform to budgetary constraints,the consolidation of programs and personnel were discussed. In the area of communications, the use of the Nextel walkie-talkie system was identified to be used in place of high cost cellular phones. The Selectmen agreed to continue budget deliberations to Bondy, February 24, 2003. A joint meeting with the Board of Selectmen and Finance Committee has been scheduled on Monday, March 3, 2003 at 7;00 p. m Recommendations for the FY04 budget are expected to be finalized by March 15, 2003. Adjournment: mot* on mace by Selectman Green to adjourn at 8;00 p.m& I Motion seconded by Selectman Cahalane. 'COTE: Unanimous. 5-0. Motion made by Mr. Arnold to adjourn at 8:00 p.m. Motion seconded by Mrs. Cook. VOTE: Unanimous. 5-0. Respectfully submitted, komauv_,P_�-)"Ic, ,; ,� ,,,/ Kathleen A Soares Secretary to the Board of Selectmen