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Finance Committee – Capital and Budgets

Black text is mostly objective, red text is mostly subjective in nature. These are notes from 3/3.

The minutes for the previous meeting were approved. We started right in on budgets.

Town Manager – There was some discussion of the 1/4 position and how that should be classified. Much of the budget increase is in raise for the manager. Some of the budget should move to IT in the long run. Recommended at $460,000.

Personnel – Recommended at $190,000.

Assessor – It was noted that there is no revaluation article for this year, but next year might be $25-50,000. Approved at $301,000.

Next up was the presentation from the Capital Committee. The most important element of their presentation was that they assumed a renewal of the 5-year plan of some sort – presumably another override.

They discussed the Stratton and Thompson schools. They have met with the state and are coming up with possible revenue sources to do significant renovations. There is no rebuild in the foreseeable future.

They are considering a multi-department security system for next year. Field renovation progress was discussed. Cemetery needs came up. The fire stations are not moving. The “quint” is in the budget.

There was an extensive discussion of the projected costs of the Veteran’s Rink. The Manager still has not come up with a plan for the rink.

There was an extensive discussion about whether the current financial situation in the US affects Arlington’s ability to borrow. This is one of those questions that you never know for sure until you try to sell the bonds. But, I’m persuaded that it’s not a big deal. Most of the headlines in the municipal markets relate to variable rate bonds – Arlington doesn’t sell them. Arlington is a good risk, and I believe we will continue to find borrowers.

They discussed rescinding the authority to borrow. Article 60 was recommended to rescind $2,724,000 in borrowing permission.

Town Clerk – The budget was approved at $234,000.

Registrar of Voters – The proposed budget has an increase of $10,000 to cover the presidential election. This increase was well in excess of the 3% guideline. There was no backup documentation/explanation for the increase. The Clerk had been invited to speak to the committee, but declined. The committee voted to renew the invitation for additional information and table the budget.

Comments

Pingback from Dan Dunn’s Podium » Finance Committee – Warrant, Housing Trust, and Minuteman
Time: March 7, 2008, 1:04 am

[…] First up was the Capital Budget, discussed on Monday. The budget was recommended at $8,538,000. There was almost no discussion; we’d talked for an hour and a half earlier in the week. […]