Tuesday, December 1, 2009

Live reporting - Finance Committee Mtg

Linda Huempfner
Pat Goldsmith
Jim Roche
Phyllis Meserve
Jaun Rivera
Mark Cataldo
Rebecca Cameron
Brett Feldman (late)

Craig Maire
Robert Texiera

Motion to approve minutes for Oct 6, 2009
approved - 7-0

Per Jeff Nutting, there are three appropriations for approval, the transfer would be from "free cash". The "free cash" amount was recently certified at $2,385,242 (very close to last years total).

1 - Motion to approve $6,000 for Elections
approved - 7-0

2 - Motion to approve $30,000 for Veterans Benefits
The money is a legal obligation. This money is reimbursed at a 75% rate after the fact. Franklin currently has 22 active cases, the most in recent history. This program is uniquely handled by the State, most others are handled at the county or State level. MA is handled at the local level. This is the third year there has been an additional request. The business has grown recently and has been hard to forecast. These benefits are for Franklin veterans.
approved - 7-0

3 - Motion to approve $175,000 for Unemployment
Stephanie has re-looked at the unemployment folks, there are 26 collecting currently. There is no reasonable expectation for these actually gaining employment before the end of the fiscal year. The total exposure is 191,000. We are hedging a bet and coming for less now. We can come back later if the numbers change.

(Brett Feldman arrived)
Approved - 8-0

Jeff provides an update on the Tax Classification Hearing scheduled for the Town Council meeting Wednesday night. The average values have declined. The valuation is 11 months old.

The tax rate is going up to 12.03%

The first two tax bills are estimated, the third and fourth are actual tax bills.

Tax levy, debt exclusion and new growth are the three components of the new tax levy.

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