05/20/1987 FINANCE COMMITTEE Minutes

Home Browse Search

' �`' Laurrt `Lull �.��/6 Ri a 111 11 V r, 1B a J !,. 11 6 4 9 CE COMMITTEE FINANCE COMMITTEE MINUTES Town hall May 20 , 1987 Present : Finance Committee Members , Edward Dolan , Carol Dunivan , John Ferriday , Carl Heller , Joyce Howell , Lucille Missurella , and William Towner Town Accountant , Vern Polka The Finance Committee meeting commenced at 6 : 30 p . m , with Executive Secretary , Joseph Hurphy , joining the meeting . This meeting was scheduled to discuss the rejection by voters of the Proposition 22 override and then meet with the Selectmen to discuss same. The Executive Secretary distributed a memorandum stating the options that might be considered , however , prior to the options several complicating factors were stated for consideration . 1 . The exact revenue impact of the growth control measure approved at the special town meeting is unknown . The passage of this provision will reduce the town ' s ability to pay for services by cutting locally-generated receipts such as fees for services . He noted that this will have an impact in FY88 but it will be several years before the full adverse impact of the measure will be felt . The immediate concern is how the present estimate of local receipts will be eroded . 2 . The tax rate for FY88 will be set in August and tax bills mailed in September . This means that no funds can be raised by •taxation after the July 27th special town meeting . 3 . The debt exclusion questions passed by town meeting should be considered on a referenda prior to August . 4 . Special election is up in the air . 15 . The Legislature is presently considering a bill that would make a 22 referendum subject to a majority vote rather than a two-thirds vote . This legi.slation would not become law even if approved for 90 days unless i.t was approved with an emergency preamble . Prior to joining the Selectmen ' s meeting Lhe Finance Committee