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6 <br /> Finance Committee <br /> Minutes <br /> March 1, 2018 <br /> Article 47: Community Preservation Committee—American Revolutionary War Memorial <br /> to include Development of a Conceptual Design; $32,500. <br /> Motion made by Mr. McKelvey to approve Article 47 as written <br /> Motion seconded by Mr. McCahill. <br /> VOTE: Unanimous. 6-0. <br /> Roll Call Vote: <br /> Mr. Richardson,yes Mr. Pettengill,yes Mr. Ryan,yes <br /> Mr. Avis,yes Mr. McKelvey,yes Mr. McCahill,yes <br /> Opposed, none <br /> Annual Town Meeting Warrant: <br /> Article 41: To accept the 2017 Annual Town Report <br /> Motion made by Mr. Avis to approve Article ##1 as written. <br /> Motion seconded by Mr. McKelvey. <br /> VOTE: Unanimous. 6-0. <br /> Roll Call Vote: <br /> Mr. Richardson,yes Mr. Pettengill,yes Mr. Ryan,yes <br /> Mr. Avis,yes Mr. McKelvey,yes Mr. McCahill,yes <br /> Opposed, none <br /> Article 42: To fund the annual Operating Budget; $57,029,039--HELD <br /> Members of the Finance Committee conducted an in-depth conversation with Rodney C. Collins, <br /> Town Manager, Wayne E. Taylor Assistant Town Manager and Dawn Thayer, the Finance <br /> Director regarding the annual operating budgets for the various Town Departments for fiscal <br /> 2019 and ensuing years. <br /> The FYI budget recommendation of$57,029,039 is reflective of a$2,158,864 increase from <br /> the FY18 $54,870,175 budget. There was concern as most of the increase is due to the high cost <br /> of salaries on both the Town and School appropriations. Each year,the budget tends to increase <br /> by 2-3% due to contractual obligations and expenses. <br />