04/04/1989 FINANCE COMMITTEE Minutes

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Of 4 l'J II�U TI of P. O. BOX 1108 BL MASWPEE. MA 02649 Finance Committee Minutes Town Hall April 4 , 1989 Present : Edward Dolan , Carole Dunivan , John Ferriday , Tony Gallo , Carl Helier , William Towner and James Vaccaro The Finance Committee meeting convened at 7 p .m. The meeting was scheduled to do a final review of the omnibus budgets and make final recommendations . The Committee proceeded to review the budgets and agreed upon the figures listed on the attached . . The omnibus budget recommendations totalled $14 , 707 . 121 . The Executive Secretary has given the Finance Committee a revised Summary of Estimated Revenue dated April 3 , 1989 . The Estimated Revenue figure was $16 , 396 , 023 . The Finance Committee subtracted the $354, 109 for the capital budget to get an estimated revenue of $16 , 041 , 914. Committee members were disturbed to learn that there now appeared to be an excess of $1 ,000 , 000 for expenditure . ($16 , 041 , 914 - $14, 707 , 121 = $1 , 334, 793) . The Finance Committee expressed concern about the revenue figures and the Finance Committee Chairman felt that the issues should be put on hold until more of, ' an explanation could be received from the Executive Secretary . It appeared to the members that all the budgets will have to be reviewed again this time replacing some of the funds they previously were under the impression had to be cut . The Chairman noted that there were to be three overrides . $492 , 270 for the opening of the Coombs school , $301 , 000 to provide for new teachers and education professionals and $56, 000 to provide additions-1madministrative personnel in the accounting , assessors , inspections , conservation and public works departments . The total tax cost of the three- overrides is 660 per $1 , 000 on the tax rate The Finance Committee adjourned at 9 : 15 p .m. The next scheduled meeting is April 6 , 1989 at 7 p .m. it McNabb Bo rd Secretary I