Meeting of the Lincoln Finance Committee
October 7, 2008
Present: P. Braun, S. Haber, E. Shorb, L. Sander, R. Steinbrook (chair)
Absent: M. Hartman, J. Koenig
Minutes submitted by: R. Steinbrook
The meeting was called to order at 7:00 pm in Lincoln Town Hall.
The committee heard and discussed liaison reports about the Lincoln Public Schools, the Lincoln-Sudbury Regional High School, and the Affordable Housing Trust.
The committee considered the FY '10 budget guideline, the general economic situation, and current information about available revenues and fixed expenses. After extensive discussion, the committee, by a vote of 5-0, set a guideline for the FY '10 base budget that will permit a 2.5 percent growth in operating expenditures, exclusive of fixed costs, as compared to the FY '09 budget. The FY '10 capital budget is $450,000. In addition, the committee will work with the Board of Selectman to minimize year-to-year changes in excluded debt.
In the budget guideline letter, the committee will inform the budgeting agencies that they should assume that there would be no override budget for FY '10.
The minutes of the meeting of October 2, 2008 were approved.
The meeting was adjourned at 9:00 pm.
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