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Subject/Title:	February 9, 2004	Subtitle:	
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FINANCE COMMITTEE – TOWN OF STOCKBRIDGE

Minutes of Meeting - February 9 at 7:00PM                     DRAFT

Minutes of previous meeting  - January 26, 2004 – Approved as amended

FY 2005 Budget Preparation Process 

·	Highway Dept. – queries – Don’t we now own the hydrants? Why do we pay rent for them ($11,400). Also, advise that the Fin Comm wants a prior review of any proposed change items (vs. Budget) over $5,000.

·	Electrical Inspector – Approved with change to “mileage” from ????

·	Town Clerk – Approved as amended at review meeting

·	Building Inspector – Approved (ex salary) with change to “mileage” $3,600 and “publications” $350.

Old Business – 
·	Police Contract Payments – noted that the officers have now been paid (by $1,888 appropriation from Reserve Fund) and steps will be taken a/ to establish a revolving fund to pay officers promptly for contract work and b/ to ensure that contractors promptly pay the Town for contracted police work.

·	Stabilization Fund – Town Treasurer and Accountant report that the only “earmarked” amount presently in the Stabilization Fund is $100,000 for future purchase of a water tower. 

New Business – 
·	BHRSD school budget – Discussion of the proposed budget - level funded from FY04. General approval subject to details. Questions concerning Tuition and School Choice payments to/from other Districts and Special Needs students costs.

·	Community Preservation Committee – Discussion of anticipated CPC request (in form of an Article on the Warrant) that the Town advance $200,000 toward the design and development costs of the Pine Woods Affordable Housing project, to be repaid by CPC in $50,000 annual increments from CPA funds per annual appropriation process. 

Next Meetings – 
·	Joint Budget Review meetings Friday, Feb. 20 and 27 at 4:00PM
·	Finance Committee Meeting  - Monday, Feb. 23 at 6:45 PM (15 minute presentation by CPC to joint Fin Comm/Selectmen panel to precede regular meeting at 7:00PM). 

Meeting Adjourned at 8:20PM