Minutes
Lincoln Finance Committee
May 11, 2009
8:00 PM
Present: Peter Braun, Anne Doyle, John Koenig, Ellen Meyer Shorb, Laura Sander, Robert
Steinbrook
Absent: None
Peter Braun, John Koenig and Ellen Meyer Shorb discussed their meeting with the Board of
Selectmen immediately preceding this meeting. At that meeting, Tim Higgins, town
Administrator, presented an update on the Town revenue picture for FY09 and FY10.
Reductions in state aid for FY09 will have a very small effect on the Town. The two main issues
for FY10 are anticipated reductions in state aid and the slow down of construction at The
Groves. Based on handouts prepared by Tim and Colleen Wilkins (copies attached), FY10 tax
revenues from The Groves are estimated to fall short approximately $217,000 from what was
originally estimated. The Deaconness anticipates closing permanent financing in June, which
would allow construction to continue, resulting in those lost tax revenues, plus more, being
recognized in FY11. Additionally, local aid from the state may be up to $200,000 less than
originally estimated. However, the shortfall in state aid could be higher depending on how the
budget gets resolved on Beacon Hill. The Board of Selectmen suggested a number of short-term
and long-term scenarios to model in future revenue/expense projections. Given what could be a
$400,000 shortfall in FY10 revenues, a special town meeting may be required in the fall to
balance the budget.
The Committee unanimously approved the minutes of its April 16, 2009 meeting.
The Committee heard updates from John Koenig with respect to the Hartwell - Magic Garden
lease situation, Ellen Meyer Shorb with respect to Hanscom housing, and Peter Braun with
respect to the Administrative Consolidation Working Group and Lincoln Sudbury RHS.
The Committee discussed possible candidates for the seventh seat on the FinCom. John Koenig
to follow up.
There being no further business, the meeting was adjourned at 10:00 PM.
Submitted By: John L. Koenig
Approved: June 2, 2009
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