Lincoln Finance Committee
October 12, 2006 Meeting
Present: P. Giese, S. Haber, M. Hartman (vice-chair), J. Koenig, P. Phillipps, J. Robinson, R. Steinbrook (chair)
Not present: none
Minutes submitted by: R. Steinbrook
The meeting was called to order at 7:30 pm in the Donaldson Room in the Lincoln town offices.
Pat Phillips reported on a meeting (on 10-12) with members of the Sudbury Finance Committee and the LSRHS administration. The Sudbury Finance Committee is asking the Sudbury budgeting agencies to prepared FY 08 budgets that represent a 3.0 percent increase over their FY 07 budgets (excluding pensions and insurance which will be reflected at projected total cost). These are not "no override budgets" as current revenue projections indicate a budget shortfall under this scenario.
PersonNameNeil Feinberg, the Town Treasurer/Collector, and Tim Higgins, the Town Administrator, discussed Neil's recommendation that the Town vote to change from an elected to an appointed treasurer/collector. Such a change would reflect the complexities of the position and the specific experience and training that are required. Almost all towns that are comparable to Lincoln have appointed treasurers/collectors. In Lincoln, the current position of assistant treasurer/collector would be replaced by a new position of treasurer/collector. The Finance Committee indicated its support for the proposal, which will now be discussed with the Board of Selectman. The change would require approval at both Town Meeting and a Town election.
Tim Higgins and Colleen Wilkins, the Town Finance Director, discussed the Recap sheet, Free Cash, and the Emergency Reserves Policy.
Pat Phillips reported on the activities of the Capital Planning Committee and the FY 08 and FY 09 requests that have been received to date.
Paul Giese reported that the Planning Board will not request funds for a consultant to facilitate the long-term planning process for the town at the Special Town Meeting in November 2006. A request is likely at Town Meeting in March 2007.
Following discussion and a review of the funds available, the Finance Committee voted unanimously to set the FY 08 base budget guideline for all budgeting agencies as a 3 percent growth in operating expenses, exclusive of fixed costs and to set the FY 08 capital budget at $700,000.
The Emergency Reserves policy will be discussed at the meeting of 11-2.
The meeting was adjourned at 10:15 pm.
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