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FINANCE COMMITTEE – TOWN OF STOCKBRIDGE

MEETING Monday, March 27, 2006, at 7:00 PM

ATTENDING –Berger, Bertocci, McMenamy, Morse, Murray, Raftery, Rhind, Rousseau, Schneyer

1.	Minutes of previous meeting  -  March 20, 2006 - approved

2.	FY2007 Budget Review

·	Electricity Budget Revisions – approved 40% upward revisions in all depts. Except Sewer, approved $83,000 (est. based on new users)

·	Town Employees Salary Increase – noted Selectmen approved 3% across the board

·	Tri-Town Health – revised budget not approved

·	Liability & Property Insurance Premium – Estimated $88,500 - approved 

·	Health & dental insurance premium – estimated $277,000 - approved

·	Reserve Fund Appropriation – approved $100,000 (apply special scrutiny above $50,000, additional earmarked for energy cost exigencies)

3.	Plain School/Town Offices Bond Issue – Committee recommends passage of debt service exclusion 7-0 (subject to cost estimates and firm bids in line with current expectations of +/- $7mm)

4.	Old Business – Committee recommends a $72,000 appropriation on the warrant to restore the Bernstein litigation fund to $100,000 (7-0)
  
5.	New Business –

·	JJR reported the audit is clean, no management letter 

·	JJR announced 2 upcoming meetings, Mass Municipal Assoc and Assoc. Of Town Finance Committees  

6.	Next Meeting Date – Monday, April 3 at 7PM at Town Hall

7.	Adjournment