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Finance and Advisory Board
February 5, 2007
7:30pm Agenda
1. Approval of Tonight’s Agenda
2. Administrative:
· Correspondence, Minutes, Announcements, Old Items
3. Selectmen Working Committees
· Cost Cutting – Ben
· State Liaison – John B.
4. Capital Planning: - Shawn & Richard
5. Audit Review and Update: - John DeAmicis
· 2005
· 2006
· Membership
6. New Town Administrator updates – Richard, John D & Ben
7. Chair:
· Articles that have failed
· Jan 30th Meeting Review
· Town Meeting Booklet Content
· Feb 12th Meeting Preparations *
8. Vice-Chair:
· The 5 year model
ADJOURN 9:00 pm
Upcoming Meetings:
Feb 12th at 7pm – attendance during Town Administrator budget presentation and BOS discussion
Feb 15th at SHS – attendance during school budget discussion
Feb 22nd, - DPW Budget
Feb 26th, - Department Budget Reviews continue. Town Meeting Article Assignments made.
March Mondays & Thursdays – Departmental Budget Reviews and Articles
1. This is a new format of conducting business. Given advance time to review the agenda, the motion to approve is an opportunity to correct omissions and errors.
2. At this time, the chair will open mail, the board will review published minutes, members will share awareness of upcoming events, and any old business item may receive brief mention.
3. Ben will summarize the activities and status of the Cost Cutting Committee. John B will summarize the activities and status of the State Liaison Committee
4. Richard and Shawn will lead a review of the Jan 30th Capital presentation
5. John D will provide for new members a background review of the audit and for all members an audit update. The board may decide to reorganize the subcommittee.
6. By the time of our meeting, some members would have met and had a covnersatio with the new Town Administrator.
7. John W will produce the long awaited list of things that have failed, will lead a review of the Jan 30th meeting with BOS and will seek feedback from the Booklet Plan and Template*, will review meeting locations and times for board discussion, will lead a discussion about 15 presentation items*.
8. Three years forward is now five.
#7 – CHAIR *Town Meeting Booklet Content* See Attachments to this e-mail
Town Meeting Booklet will undergo significant format and content changes
· Traditional Warrant Article recommendations
· Annual Financial Review and Report
Goals
· Address the demand from residents for more accountability
· Address the requests for more detailed information and still be clear.
· Improve residents understanding of town revenues and expenditures
· Address the top 10 most difficult to understand Municipal Finance issues
10) State Aid
~9) Special Education Obligations
~8) Debt Service and School Building Assistance Regulations
~7) Health Insurance and Pension Obligations
~6) Collective Bargaining Contracts
~5) The budget Process --- timing, responsibility, and levels of approval
~4) Capital Planning
~3) Forecasting Trends
~2) School v. Town Allocation --- how the split is calculated
~1) The Mechanics of Proposition 2 1/2
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