Date Time Location
Monday 7:00
PM Bourne Town Hall
24 Perry Avenue Buzzards
Bay, MA 02532
Overview of purpose of the meeting and ground rules.
Policy discussion – reserve policy, expenditure
policy, deficit policy, debt policy, override policy, pay as you go policy.
Discuss 08 budget within policy context
Begin to form strategy and tactics to close
structural gap as well as how to handle funding critical areas—using the LT
Financial Plan
Next steps to finalize 08 and LT Plan out 5
years—practical steps that may include cuts, overrides, debt exclusions, and
menu overrides.
Adjourn
_________________________
Thomas M. Guerino
Town Administrator
cc: Town Clerk
Board of Selectmen
Meeting Minutes of February 12, 2007
Bourne Town Hall
24 Perry Avenue
Buzzards Bay, MA 02532
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Attendance:
Thomas M. Guerino
Board of Selectmen:
Linda M. Zuern, Chairman
Stephen F. Mealy, Vice Chairman
Jamie J. Sloniecki, Clerk
Judith Conron
John J. Harrington
Finance Committee:
Hal DeWaltoff, Chairman
Elinor Ripley, Co-Vice Chairman
Michele Ford, Co-Vice Chairman
School Committee:
Hans Baumhauer
Patricia Cleary
Edmond LaFleur, Bourne School Superintendent
Call the Meeting to
Order
Meeting was called to order at 7:00 P.M.
Overview of purpose of meeting and ground rules
The purpose of this meeting is to get input (Finance Committee and the School Committee) by looking at current policies and find a way to stabilize a long-term fiscal stability plan as we move into FY08 and going forward.
TA Guerino went over the basic grounds rules for this session and to focus on three policies for tonight (Reserves, Expenditure and FY08).
Policy discussion
Bourne is currently at 10.2% in total Reserves. Round table discussion held.
The consensus is to use reserves for:
1) Emergency;
2) Smooth cyclical items in the budget – not exceeding the 5% in Free Cash; and
3) Capital Projects (non-structural).
TA Guerino stated that Bourne has no specific Expenditure Policy. The dynamics of controlling salaries in the past included:
1) Implemented wage program authorized by former Boards of Selectmen (10 step plan); and
2) Annual cost of living increment (increases average to about 5% per year)
Round table discussion on salary and wages, cost of living increases and healthcare. It was noted not to take out the financial problems out of the salaries, but rather cut staff and services. TA Guerino stated all contracts are currently being negotiated (done every three years).
Seeking Town Counsel for ways to slow down the rate of increase of salaries was discussed.
In conclusion, Hal DeWaltoff suggested the Board of Selectmen set a target number (parameters) for TA Guerino since the salaries cannot be changed next year.
Long Term financial Plan model
Linda Marzelli’s presentation of the model was presented. Different assumptions (over rides, new growth, Chapter 70, lottery, local receipts, and health insurance) were added into the formula.
Round table discussion held.
FY08
The Board of Selectmen will discuss FY08 at their regular meeting on Tuesday, February 13, 2007 and receive a detailed line item budget from TA Guerino.
Conclusion
The Selectmen would like to set a Three (3) Year Plan at the next Town Meeting and not rush a budget that doesn’t have a financial solution for the town. Revisiting an override was suggested.
Adjourn
Selectman Sloniecki MOVED and SECONDED by Selectman Harrington to adjourn. UNANIMOUS VOTE. Meeting adjourned at 9:35 pm.
Respectfully submitted,
Lisa Groezinger, sec.