Lincoln Finance Committee
December 19, 2007 Meeting
Present: P. Giese, S. Haber, M. Hartman, J. Koenig, J. Robinson, E. Shorb, R. Steinbrook (chair)
Absent:
Minutes submitted by: R. Steinbrook
The meeting was called to order at 7:30 pm at Lincoln Town Hall.
The minutes of the 12-5-07 meeting were approved.
The committee reviewed a request from Tim Higgins, Town Administrator, to adjust the Town's FY '09 base budget. The reason is that $24,700 in salary adjustments and a line item for veterans' benefits ($18,000, 75 percent of which will eventually be reimbursed by the state) are not accounted for in the FY '08 Town operating budget but need to be funded through the FY '09 operating budget. Following discussion, the committee by a vote of 6-0 (J. Koenig had not yet arrived) approved an adjustment of the Town's FY '09 operating budget from $6,588,367 to $6,632,348.
The committee discussed revised estimates of funds available, the capital plan, the preliminary preferred budgets of the budgeting agencies, various approaches to funding preferred budgets, and other matters. No actions were taken.
The committee will next meet on Tuesday, January 15, 2008 for the second Joint Budget Workshop.
The meeting was adjourned at 9:15 pm.
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