05/05/2008 Annual Town Meeting - Laserfiche WebLink

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• The School Committee and the School Superintendent should follow the Town s� , Manager's guidelines and timeframes when preparing the next budget and that the school's business and finance staff should fully participate in the Town's budget preparation process. ` While some progress was noted relative to the tying of the budget to specific goals, objectives and anticipated results, and following the Town Manager's budget guidelines and time schedule, little or no progress was made toward integrating or establishing a closer working relationship with the Town's finance and IT offices. The FinCom hopes that with a new, conscientious and ` competent Business Administrator, some progress will result in FY 09 in all these areas. i Budget Note#5: School Department: (+ $290,000) The Town Manager/Board of Selectmen/Finance Committee has agreed on an FY 09 School a Department budget of$20,517,652. While this is an increase of$290,000 over last year's final school budget, the amount is $62,000 less than the School Committee gave as its final proposal. Included in the budget are provisions for the second year of a 3 year collective bargaining agreement with the teaching staff as well as approximately $140,000, in a new initiative to increase services to students with autism. Budget Note#6: Interest and Principal on Debt: (- $278,903) ' The debt service (principal and interest) on the Town's long-term debt is decreasing this year by ' �r almost 6%. A schedule of the annual debt service based on the current capital expenditures is shown below through FY27. r I: Isom 13