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1 <br /> Board of Selectmen <br /> Minutes-Executive Session <br /> August 17, 2009 <br /> Discussion relative to contract negotiations: <br /> Joyce Mason, the Town Manager discussed potential scenarios <br /> to offset the $347,992 projected FY201 l budget shortfall w.hich has <br /> resulted due to a reduction in State Aid. <br /> Upon discussion, the Selectmen agreed to place on the agenda of August. <br /> 3 1, 2009, the institution of a hiring freeze. The Board also unanimously <br /> arnnarled the use of exact interest funds from the Stabilization Account <br /> to offset the budget shortfall. At the next Board Meeting, the Selectmen <br /> will announce their decision to declare 'an emergency to allow for the use <br /> of exact funding from the Stabilization Account to offset the budget <br /> shortfall. <br /> i - <br />