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FINANCE COMMITTEE – TOWN OF STOCKBRIDGE

MEETING October 18, 2004

Minutes of previous meeting,  July 19, 2004, approved

Presentation by Elaine Markham, Town Accountant, describing interaction of her position with Finance Committee. 
·	Departmental budget preparation, review and compliance
·	Expense/Invoice review and approval process
·	Free cash certification process
o	Close books
o	State worksheet – receipts
o	Department turnbacks
o	State certification of new amount

Update on Town Capital Spending Projections – deferred to next meeting

Old Business – Discussion of pending sale of DeSisto School property to The Grove School of Madison CT. Closing temporarily deferred pending settlement of environmental remediation issues. Property will become taxable to Town.

Plain School re-use study impeded by bankruptcy of appointed architectural study firm. No useful estimate yet on cost/feasibility of moving Town office facilities there. Rough estimate of $1,500,000 cost to reinstate Town Hall to original auditorium configuration.

New Business - Budget – noted that oil and salt prices have escalated significantly and will affect FY06 Budget negatively. 

Meeting Dates – Next meeting November 15 at 7:00PM 	
  
Adjournment