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F <br /> i <br /> t <br /> V BOARD OF SELECTMEN Page <br /> MINUTES <br /> TUESDAY,, NOVEMBER- 121 1991 <br /> Budget Discussion. <br /> Selectman Hanson is concerned with the timetable to make the. <br /> budget decisions . The calendar is a mechanism to get the progress <br /> started states selectman Lawrence. The inclinations of what the <br /> budget is to be will have to come from this Board, <br /> Selectman Jacobson suggests the Board. meet on Thursday for <br /> additional discussion time. This is not acceptable since some of <br /> the Board Members cannot meet an additional date for discussion this <br /> week. <br /> Mr, Harrington noted he will establish priorities Lf the Board <br /> will concur with his budget priorities . The Board is in agreement <br /> to recieve Mr. Harrington ' s recommended priorities . <br /> We are projecting approximately $245 ,000 More in FY 93 reports <br /> Mr. Harrington. This is approximately 11-2% greater than last year. <br /> The annual rise of the fixed cost is 2 -2 %. The- $245,000 is needed <br /> to cover the overlay deficit from FY 92 suggests Mr. Harrington. <br /> significant amount of funds is spent on personnel reports <br /> Mr. Harrington, Mr. Harrington has recommended the Beard look for <br /> additonal revenue through fees , overrides or exclusions . If additional <br /> revenue is not sought; the difference will have to be made up through <br /> personnel reductions. This will provide a different array of services . <br /> Mr. Harrington also notes there were no capital projects last <br /> year. The Town did not purchase additional' vehicles and alt .is <br /> catching up with' us at this point. <br /> With concerns of Hurrican Bob, Mr . Harrington is hopeful the <br /> Department of revenue will allow -us to carry this over. Reimbursement <br /> from the Federal Government is to be . %. The state is to reimburse <br /> 12 %. The reported spending as a result of Hurricane Bob is $155 ,000 . <br /> Mr, Harrington notes of the inability of FEMA reimbursement since <br /> the Federal Government runs its fiscal year October through September. <br /> This could impact the amount of money we have available for FY 93 . <br /> With the recent taxes that have come in with Southport and <br /> South cape Bead Resort , Selectman Jacobson asps how this will effect <br /> the budget. Approximately $5-600 ,.000 have recently come in to the <br /> Town. This will help a bit states Mr. Harrington. There are a large <br /> amount of taxes still outstanding. The decision will be made between <br /> Mr. Harrington a.nd the Town Accountant as to recertify that account <br /> of revenue available. <br /> With . interest rates dropping, Selectman caf fyn asks if municipal- <br /> ities can refinance? Most of what we are paying is over a ten year <br /> period of time reports M.r. Harrington. There are penalty clauses <br /> in some of the bank agreements. It is necessary to return to Town <br /> Meet.�ng to refinance. Mr. Harrington has discussed this with the <br /> Treasurer of the benefits of refinancing. He notes all recent finances <br /> are ten year with the exception of the Middle School . <br /> Further review of the budget included the discussion of the levy. <br /> Mr. Bailey has anticipated an additional. $100,000 in new growth to <br /> ging the total levy to $13 ,400,990 informs Mr. Harrington. <br /> In tents of state aid, e don ' t get Mate a i d reports Mr . Harrington. <br /> Mandated programs are reimbursed to the schools. <br /> The local receipts retain constant . THe debt exclusion is actual <br /> at $1 , , 00 -reports Mr. Harrington. <br />