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5
<br /> Finance Committee
<br /> Minutes
<br /> November 21, 2019
<br /> Review of Budget Process Trend Analysis, Turn-Backs & Schedule:
<br /> Review of FY2021 Department Budget Requests: (continued)
<br /> The Finance Committee continued their discussions on the budget analyzing the spending trends.
<br /> Examples in the trend analysis include the following assumptions;
<br /> FY19 FY20 FY21 Growth FYI9/20/21
<br /> Human Resources 340,710 425,490 457,918 8.7%, 24.9%, 7.6%
<br /> Information Technology 491,290 573,140 681,940 0.7%, 16.7%, 19.0%
<br /> Natural Resources 545,283 692,111 770,515 15.6%, 26.9%, 11.3%
<br /> Town Hall 201,835 274,000 282,000 4.2%, 35.8%, 2.9%
<br /> Fire Department 3,785,714 4,175,220 4,270,747 6.0%, 10.3%, 2.3%
<br /> DPW 4,223,285 4,749,706 4,884,709 6.9%, 12.5%, 2.8%
<br /> Council on Aging 250,042 289,697 286,401 -4.0%, 15.9%, -1.1%
<br /> Library 295,028 328,494 315,502 6.4%, 11.3%, -4.0%
<br /> Medical Insurance 7,150,822 8,087,844 8,551,736 5.0%, 13.1%, 5.7%
<br /> Town Insurance 587,848 869,765 902,378 -3.0%, 48.0%, 3.7%
<br /> Total Spending
<br /> (Labor& Expense) 55,208,053 60,977,685 62,903,432 6.0%, 10.5%, 3.2%
<br /> Salary &Expenses
<br /> (excludes Schools) 32,870,377 37,151,849 38,234,244 5.2%. 13/0%. 2/9%
<br /> Schools
<br /> (including CC Tech HS) 22,337,676 23,825,836 24,669,188
<br /> The figures are preliminary and for informational purposes. It is anticipated the budget
<br /> projections would be updated with input from the Finance Director and upon final review of the
<br /> analysis and FY21 budget.
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