01/08/1991 FINANCE COMMITTEE Minutes

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Finance Committee Minutes January 8, 1991 Page 2. There is an anticipated deficit estimated at $22,000 in the Unemployment Account. Information provided by the Treasurer's office indicates a total of ten employees have collected/are collecting unemployment benefits this fiscal year. Nine of the ten are from the School Department. The Chairman noted that--the census taken for the Medical Insurance would also pertain to this account and would I allow for a more accurate prediciton of the amount which will be needed for the next fiscal year. Financa Committee members were in agreement with the recommendation as stated on page 2. There is an -anticipated .deficit .e.stima.tad at .as .much -as -$120,,000 -in the Assessor's Overlay Account. Tony Gallo addressed this deficit stating the the Board of Assessors plan to do most of the re-evaluation work "in-house". The members agreed- that to facilitate this process the "Re-evaluation Account" should receive an amount of funding on a yearly basis. The Committee felt that $50,000 should be in the account. The Interest on Abatements Account to date is in deficit $4,850 for what the Town has paid taxpayers in interest on real estate/property taxes which have been abated. Chairman Vaccaro stressed that it would make more sense to include the full amount of the interest payment in the abatement checks rather than issue several hundred additional checks most of which are in small amounts.. Members agreed that this was a costly procedure and concurred with the recommendation stated on page 2. There is an anticpated deficit in the Workman Compensation Account of $42,000. This was not anticipated because the town is a year behind and there were new employees at the new Coombs school and the rates are set on the prior year's number of employees. The anticipated deficit in the Street Lighting Account is estimated at $3,000 and the principal reason is the increased cost of electricity. Chairman Vaccaro noted that it would be more costly to disconnect the street lights. All agreed with the recommendation stated on page 3. and agreed that additional funds should also be added to the next fiscal year's budget. The Falmouth High School Tuition Account is in a deficit. Chairman Vaccaro stated that he felt the deficit would probably be about $155,000. Member Carl Heller noted that he thought the figure would be closer to $130,000. Members concurred with the seven recommendations stated on page 3 regarding this deficit. Chairman Vaccaro stressed that the town is $392,935 short of level funding for FY92. All budgets will be level funded except for fixed costs. He recommended that the members come to the next meeting prepared to make a list of departments that need more money and which departments could be cut. Members agreed that departments whose budgets are cut should have the opportunity to discuss their budget with the committee. It was also suggested by Vaccaro that the committee establish some sort of "ground-rule" to determine which departments address the committee.