Finance Committee, 5/28/19

Committee Name: 

Finance Committee

Meeting date: 

Tuesday, May 28, 2019 - 13:23

Meeting Location: 

Town Room, Amherst Town Hall

Members present: 

Steinberg, Griesemer, Schoen, Pam; Bahl-Milne absent

Observer Notes: 

After the budget is submitted to the Council, the Finance Committee has 30 days to review it and make recommendations to the entire Council. Instead of warrant articles, there are Orders. The various orders were moved, discussed, and then recommendations voted.

The Appropriation and Transfer Order FY20-04 consisting of Operating Budget, Elementary Schools, Library, Enterprise Funds, Assessments, Debt Service and OPEB (Other Post Retirement Benefits) totaling $68,196,284 was recommended by a vote of 4-0, 1 absent.

The Appropriation and Transfer Order FY20-05, Capital Program-Equipment, Buildings and Facilities, totaling $3,543,810 was also recommended by the same vote.

Order FY20-06 which rescinds borrowing authorization of $683,000 was recommended.

Order FY20-07 for Community Preservation Act (CPA) projects totaling $839,040 (Housing, Open Space, Historic Preservation, Recreation, Administrative) was recommended as were Orders FY20-08 and FY20-09 authorizing acquisition of Szala and Keet-Haskins properties under the CPA.

Recommendation for Order FY20-10, Community Development Corporation Project, was delayed until after a community meeting about this project, June 18. FY20-11,

Acceptance of Optional Tax Exemptions, was recommended, also by the vote of 4-0, 1 absent.

Votes on Order 20-12 for bond authorizations for capital projects (school, fire station, etc.) were delayed until there is further information about these projects and costs. Borrowing and land purchases require 2/3 votes.

The Finance Committee will write up their recommendations and send them to the full Council which has to vote the budget by June 30.

Public Comment: 

Most comments from several of the approximately 10 residents in attendance regarded the CDC project.

League Observer: 

Janice Ratner