3/3/2003 BOARD OF SELECTMEN Minutes

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Board of Selectmen MM* Utes March 3, 2003 APPOINTMENTS TMENTS AICD HEARINGS: Joint Meeting Finance Committee—Budget Discussion. Finance Committee members in attendance for discussion was Carleton MacDonald, Kathleen Lynch, Theresa Cook, Jeff Arnold, Dean Arden and James Morgan. David Bailey, Director of Assessing and Diane Rommet ever, the Town Accountant was also present for discussion of the FY04 budget. Joyce Mason, Town Administrator presented an updated analysis o available revenues that has incorporated neve figures obtained from the Governor's Office, i To bring forth a balanced budget,the Town Administrator has recommended utilizing the sura of$750,000 from stabilization and $392,000 from overlay surplus. It was noted that the recommendation includes capital improvement t projects in the amount o $206,132 and the Patrol Officers—Unit contract settlement of$174,413. For comparison, the Finance Committee brought forth an alternative recommendation that would consist of a three-year 2 2%override of $3,000,000 or $1, 00,000, $1,000,000 and $600,000 respectively for fiscal year 2004 through 2006. For disclosure, it was noted that the Finance Committee has not reviewed in full nor voted upon the recon nendation in Its entirety. Discussion followed with respect to the proposal and alternative proposed to allow two competing concepts for gown Meeting debate. It was noted that a Town ballot would have to be prepared to avoid a costly special election. The matter was deemed a more comprehensive plan that would require`additional review. It was noted that the Town Meeting warrant is scheduled to be finalized at the next scheduled Selectmen's Meeting due to posting requirements.