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has done well considering the economy. Overall percentage is stable due to tightening f th <br /> p � o e <br /> debt/ratio. Brief discussion regarding three year proposal for auditing services. <br /> Update on Wampanoag Agreement. Joyce Mason discussed exempt land that will be <br /> transferred to Frust. Board of Selectmen will be holding a special Town Meeting, and there <br /> will be small cost involved televised live,printing ofWarrants). The Finance Committee <br /> vnil be asked to comment on the Agreement. Chris Avis suggested utilizing one mailing and <br /> having more than one meeting. Time constraints on this idea were discussed. <br /> Presentation of FY09 budget by the Town Man Joyce Mason stated she did not have a <br /> balanced budget at this time.to present,but updated the members on ghat she had to date. <br /> Cuts have been made wherever possible, and there is a 2.9% increase on the Town side. FIs. <br /> Mason noted they are still approximately line Hundred Seventy One Thousand Dollars <br /> short. Energy costs were reviewed, and the Town 'is right on target with level funding. Mr. <br /> asior inquired about medical insurance and the budget 'is expected to reflect a 12% increase. <br /> 4 <br /> The Town went back to actual monthly bills and figured out what.the Town would need with, <br /> the 12 increase. The Town's increase would only be 5.3%. The School's increase would <br /> be 16.7%. increase n the Barnstable County Retirement is 5.7%. The Town has also <br /> absorbed additional increases. Ms. 1 la on is looking at some revenue sources to clow,the <br /> gap, and expects to have ftrther update in about two weeps. <br /> Management Review ofSchool Fffiancial Procedures. Joyce Mason asked if their Auditor <br /> was interested in perf rM9 the school audit, or if another could be recommended. slice <br /> Chairman Gasior stated it is customary that when there is a change in business managers, <br /> there be a review of financial procedures, Bill Johnson mach this suggestion to Mary Rose <br /> Grady. The Finance Conunittee offered to pay for this audit. Ms. Mason discussed free <br /> cash, and t.he amounts used last year to balance the budget. <br /> VI. Finance Committee DMartment Liaison Updates. Lynda Carroll briefly discussed her <br /> meeting with Jinn.Bong (fuel, electricity). Meeting with the Coalition noted concerns with <br /> need-for private office space, as well as concerns with fuel and electricity costs. <br /> Chris Avis noted that the liaisons can meet with the departments, scrutinize the budget, and <br /> determine what`really is needed",but do really need Ms. Mason's budget, Ms. Mason will <br /> provide her bottom line to the Committee. Ms. Mason agreed that it has been a challenging <br /> year, and the budget is being provided later than usual. <br /> vIL Motion to _�onrn: Vice Chairman Gaslor moved to adjourn. Sandra Lindsey <br /> seconded, All were in favor. The meeting was adjourned at 7:08 p.m. <br /> Next Meeting: February 28,2005, a :30 .m., <br />