November 7, 2011 Finance Committee Meeting

November 7, 2011 Finance Committee Meeting

Postby Mary Wright » Tue Jan 24, 2012 6:06 pm

FINANCE COMMITTEE MEETING
MONDAY, NOVEMBER 7, 2011

A meeting of the Finance Committee was held on Monday, November 7, 2011. Mr. Bari called the meeting to order at 7:03 PM at the Douglas Municipal Center.

ATTENDANCE
PRESENT: Todd Bari (Chairman), Jerome Kocur, Kate Murphy, Dave Hyland, Carol Gogolinski, Mike Guzinski (Town Administrator).
ABSENT: Scott Hackett, Pamela Holmes, Michael Hutnak, James Roche.

REVIEW DRAFT FINANCIAL POLICIES
The draft Financial Policies were reviewed. Discussion held including debt management, free cash, stabilization fund, investment guidelines for general funds and other operating funds.

APPROVE MINUTES OF MAY 2, JUNE 13, JUNE 27, AND OCTOBER 24, 2011
The minutes of May 2, June 13, June 27, and October 24, 2011 were reviewed.
Ms. Murphy made a motion to accept the minutes of May 2, 2011 as presented. Mr. Kocur seconded the motion. Vote unanimous.
Ms. Murphy made a motion to accept the minutes of June 13, 2011 as presented. Mr. Kocur seconded the motion. Vote unanimous.
Ms. Murphy made a motion to accept the minutes of June 27, 2011 as amended. Mr. Kocur seconded the motion. Vote unanimous.
Mr. Kocur made a motion to accept the minutes of October 24, 2011 as presented. Ms. Murphy seconded the motion. Vote: Yes – 4, Abstained – 1. Motion carries.

OTHER BUSINESS
Discussion held regarding the interest to be charged for properties that go into tax title. It was noted that State Statute indicates that at that point 16% is to be charged. Mr. Kocur questioned if the Town has to comply with this and if it could be left at 14%. Discussion held. The Department of Revenue will be consulted regarding this to determine if there is any flexibility.
Mr. Guzinski reminded the Committee of the meeting scheduled on Monday at 6:30 PM prior to Special Town Meeting.
Mr. Guzinski noted that the Personnel Board had a hearing in regard to the Article 15, which involved changes to the Personnel Bylaw. At the hearing it was decided to table that Article.

ADJOURNMENT
Mr. Kocur made a motion to adjourn the meeting at 7:45 PM. Ms. Murphy seconded the motion. Vote unanimous.

Respectfully submitted,
Lisa Lannon, Recording Secretary
Mary Wright
 
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