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11 <br /> Finance Committee <br /> Minutes <br /> March 21, 2019 <br /> APPOINTMENTS & HEARINGS <br /> Public Hearing—Fiscal Year 2020 OperatingBudgetsubmitted by Town Manager: (continued) <br /> Discussion continued regarding the use of free cash, at one of its highest points this year at $9 <br /> million. Is this over taxation? It was noted the Town cannot rely on savings to fund the <br /> operating budget. <br /> In closing,the Finance Committee Chair indicated the Finance Committee formed a working <br /> group to constructively review the budget. The summary was not intended to be argumentative. <br /> The review process considered the numbers,the spending and the trends. <br /> Town Manager Rodney C. Collins indicated it was his assumption from the last Finance <br /> Committee meeting, a working group would have met with him to further define and discuss any <br /> questions and inconsistencies. Town Manager Collins indicated he cleared his schedule at the <br /> start of the week to have constructive dialogue. <br /> OLD BUSINESS <br /> Continued Review&Approval of May 6, 2019 Annual Town Meeting Warrant: <br /> The Finance Committee continued their review of the May 6, 2019 Special and Annual Town <br /> Meeting warrant. The following action was taken; <br /> Annual Town Meeting Warrant: <br /> Article#3: CIP: $1,472,692 <br /> Discussion followed with respect to the Capital Improvement Program(CIP)budget as <br /> presented. The budget is reflective of a$60,000 increase due to the recommended feasibility <br /> studies for the DNR building and School athletic fields. <br /> Motion made by Mr. Pettengill to approve and recommend Article#3 as written. <br /> Motion seconded by Mr. McKelvey. <br /> VOTE: Motion carries. 4-1. <br /> Roll Call Vote: <br /> Roll Call Vote: <br /> Mr. Richardson,yes Mr. Pettengill,yes Mr. Avis, no <br /> Mr. McKelvey,yes Mrs. Furbush,yes Opposed, (1) <br />