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Ij <br /> of fftobprr <br /> own ijall <br /> INANCE COMMITTEE <br /> Minutes of the Meeting <br /> October 13, 1992 <br /> Present: Deirdre Greelish, Chair; Dan Goggin, Vice Chair; Ed Baker and Roger Dunivan <br /> Not Present: John Ferriday, Tony, Gallo, Denise Sullivan <br /> Discussion of October Town Meeting <br /> The meeting began with a review of the October town meeting. The Finance Committee <br /> provided the voters with a letter from the Finance Committee and a detailed explanation of our <br /> recommendations on all articles as a separate handout from the warrant. The warrant included <br /> only "Finance Committee recommends approval" or "...does not recommend approval," so the <br /> handout is a valuable addition to the warrant. <br /> But an area of concern was the short period of time allowed for review of the articles. The <br /> Finance Committee would have preferred the Selectmen close the warrant on time. Then <br /> FinComm would have had time to meet with the Selectmen before its final recommendations. <br /> Deirdre said that, the day after each FinComm meeting, she sent the Executive Secretary a copy <br /> of FinComm'S recommendations. Deirdre said two of the Selectmen said they didn't read them, <br /> if they were included in their packets at all. Deirdre also gave a copy of a memo to the <br /> Selectmen's office staff who did not distribute it; so no one showed up at the FinComm meeting <br /> September 22. <br /> It was decided that: <br /> a) FinComm will strongly insist that the Board of Selectmen close the warrant on their <br /> deadline. It.was impossible to keep informed on the articles that appeared on the day the <br /> warrant was due for public posting. It leaves no time for the Selectmen and FinComm <br /> to meet prior to town meeting either. <br /> b) FinComm will not make recommendations if all the information necessary has not been <br /> provided; and <br /> c) FinComm will request a meeting with the, Selectmen to review all preliminary <br /> recommendations at least a month before the warrant goes to press. <br /> Estimated New Growth <br /> There was a discussion of the change in estimated new growth by the Assessing Department. <br /> During budget preparation, the estimate was $150,000. It appeared on the Pro Forma Recap as <br /> $25,483.17. The reason given by the Director of Assessing was to the Recap into balance after <br /> the State Aid increased 124,516.83. Otherwise, the Pro Forma would have shown excess levy <br /> capacity. The Finance Committee would like a clearer explanation of the ramifications of <br /> showing "excess levy capacity." <br />