RECEIVED AUGUST 12, 2009 @ 11:30 .AM.
MICHELE R. GRANDE, REDDING TOWN CLERK
2 pages
Minutes
Long Range Finanical Planning Committee
Redding Town Hall Conference Room
August 6, 2009 – 7:30 P.M.
Filed subject to approval
Attendance: Ms. O’Donnell, Mr. Lewis, Mr. Dolan, Mr. Guffey, Ms. Sullivan
Not in Attendance: Mr. Takacs, Mr. Barrickman, Mr. Gniadek
Also present: 4 members of the public
Call to Order: 7:35pm
1. Public Comment: Ms. Wendschuh urged the committee to fund roadwork in the operating budget and use borrowing for non recurring large expenses.
2. Discussion of the requests for Town, Lower Schools and report on Region 9 plans.
3. Discussion of the criteria to be used for an item to be a part of the Long Range Capital Plan.
The discussion of these items was overlapping. The group discussed the difference between needs and wants in the capital plan and agreed that the needs are the items we are concerned with. Where an item is a “want”, its funding will be determined when the project is approved by the taxpayers.
The chair will take the requests for capital expenditures and classify them in three categories:
1. Operating-these are items that should be funded from the operating budget
2. Capital and nonrecurring-these are smaller capital items that should be paid for with short term savings in the capital and nonrecurring account and should be funded without borrowing, but paid for with savings. We will need to determine what amount we will recommend be put in the capital and nonrecurring account each year.
3. Capital-these are large one time expenses for which the committee recommends borrowing.
The chair will distribute this schedule to all members so that they can review it and make comments. The committee will then set up a new time to meet and vote on the schedule and report to the Board of Selectmen and the Board of Finance.
4. A second public comment was opened up, and there were no comments.
Having no other business, the board was adjourned at 9:10 pm
Respectfully submitted,
Margaret O’Donnell, Chair
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