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i <br /> I <br /> 1 <br /> i <br /> Board of Selectmen <br /> Minutes <br /> February 2 , 2003 <br /> Present: Selectman Taylor, Selectman Reveille, Selectman 1larsters, <br /> Selectman Green, Selectman Cahalane <br /> Ton Administrator Joyce Mason <br /> Assistant Town Administrator Jinn Marr <br /> Meeting Called to Order by Chairman Taylor at :oo p.m. <br /> Ton Mall, Conference Room#1. <br /> . <br /> MINUTES: <br /> S <br /> Monday, February 3, 2003 Regular Session; <br /> Motion made by Selectman Marsters to approve the Regular and <br /> Executive Session minutes of Monday,February 3,2003 aspresented. <br /> Motion seconded by Selectman Green. <br /> VOTE: Unanimous. -o. <br /> Monday, February 10, 2003 Regular and Executive_Sessions: <br /> Motion made by Selectman Green to approve the Regular and <br /> Executive Session minutes of Monday,February 10,2003 as <br /> presented. <br /> Motion seconded by Selectman Cahalane., <br /> VOTE: Unanimous. -o. <br /> Selectman Marsters abstained. <br /> Budget Review: <br /> The Board of Selectmen discussed in detail, the analysis of available <br /> revenues for fiscal year 2004. Deficit projections for the following year <br /> were also considered. It was noted that salaries, retirement and health <br /> ,benefits consume a lame portion of the municipal budget. Alternatives <br /> and strategies in the event that state aid is further reduced were carefully <br /> weighed. Several potential scenarios to conform to budgetary constraints <br /> include a possible override and a reduction in staffing. <br /> Concern was related with respect to the potential effect and burden of an <br /> override on citizens having a fixed income. The Director of Assessing <br /> was requested to review options and implications relative to this regard. <br /> Based on FY03 values, a$750,000 override would increase the tax rate by <br /> .27 cents increasing property values of$200,000 by$55. <br />