Wednesday, October 21, 2009

Live reporting - Financial Planning Committee

Jim Roche, Chairman
Doug Hardesty, Vice-Chair

The report as presented during April has been updated with the latest numbers on this years budget and an updated forecast for the next few years.
The deficit is structural and continuing. The biggest impact will be felt next year.
Prior deficits were resolved with a variety of one time fixes. These are not available.

Teacher salaries will increase in the first ten years, due to market dynamics. This is one example. The structural deficit will continue year in and year out.

The limitation on property taxes is a factor, the other factor is we are dependent more than surrounding towns on State Aid.

Motion to add resolution 09-69 to the agenda. Motion to approve, 9-0

Vallee arrives

Endorsement - text to be provided later
Motion to approve, passed 9-0

Amendment proposed to add "declining" to the sentence.

Judy speaking against adoption as the new Council will have to live with it. She will abstain.
Vallee will join Pfeffer in abstaining.
Whalen speaks for this Council endorsing
Doak speaks for this Council endorsing
Zollo agrees that the next Council will have to live with it, This is an unbiased report, they allowed the facts to come to a unanimous conclusion. There was a wide variance on the objectives and outcomes at the beginning but the outcome is clear.

Motion to approve, 7-0, 2 abstain (Pfeffer, Vallee)


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