RECEIVED MARCH 30, 2009 @ 8:30 A.M.
Michele R. Grande, Redding Town Clerk
Minutes
Long Range Finanical Planning Committee
Redding Town Hall Conference Room
March 26, 2009 – 7:30 P.M.
Filed subject to approval
Attendance: Ms. O’Donnell, Mr. Takacs, Mr. Dolan, Mr. Barickman, Mr. Lewis
Call to Order: 7:40pm.
1. Public Comment: None.
2. Discussion of the requests for Town, Lower Schools and report on Region 9 plans.
3. Discussion of Long Range Financial Plan and funding of the plan.
4. Discussion of the criteria to be used for an item to be a part of the Long Range Capital Plan.
The discussion of these three items overlapped to a significant degree.
The updated spreadsheets from the Town Departments were reviewed. Some items are listed in the current year but clearly will not be in the current budget so revisions will be requested. A consolidated list will be prepared for presentation to the Board of Finance and that report compared to the report from two years ago
The Committee discussed whether a goal of a fully funded Capital Expenditure line in the budget is an appropriate goal and when that goal might become possible. Among the particular items discussed were the level of annual road expenditures that might be planned for each year and how those were budgeted for in the past. This matter will be discussed further at a later date.
Ms. O’Donnell will ask our Auditors how other towns handle capital expenditures and what the accounting standards (GASB) are.
The issue of when an item is recurring vs. non-recurring was also discussed. This followed up on the discussion 2 and 4 years ago when the current criteria were defined.
5. Additional Comments: None.
6. Move to Adjourn 8:55 p.m. (Lewis, Takacs) Approved 5-0
Respectfully submitted,
Mark Lewis
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