Welcome! and indeed, let's discuss.

In the first ten articles of the warrant, the terms Raise & Appropriate (R&A), transfer (T), and Borrow (B) appear. I have questions.

1. R&A. You have had an Annual TM. How close are you after the Annual to the Town's Levy Limit? What is the Levy Limit for FY12? Are the R&A articles for FY12 or FY13?

2. T. from where? Has the DoR certified the Town's free cash as of July 1, 2011 for use in Fy12 or 13? Or, are these proposed Transfers from departments which were not fully staffed for FY11, such as the assessor, accountant, etc.?

3. B. Borrow? yes, for some things. But, to fund union contracts? doesn't make sense to me.

4. One more. Schedule A. The DOR wrote:

October 31: Accountant
Submit Schedule A for Prior Fiscal Year - This report is a statement of the revenues received, expenditures made and all other transactions related to the community’s finances during the previous fiscal year. The Schedule A classifies revenues and expenditures into detailed categories that will provide information essential for an analysis of revenues and expenditures generated by various departments. This data, like other financial information reported to DOR, is entered into DOR’s Municipal Data Bank; as such, the Department may provide time series, comparative and other types of analyses at the request of a city or town. This information is also sent to the US Census Bureau and eliminates a prior federal reporting requirement. Failure to file by October 31 may result in withholding major distributions of state aid until the Schedule A is accepted by Bureau of Accounts.

Failure to file this Schedule can cause problems, both with the State aid distribution and the setting of the Town's tax rate. Will this schedule be filed with the DOR's Bureau of Accounts by October 31? (That's Halloween  -  make your own jokes).

That's it....for now. Your turn.

PS. Remember, I am a BIG fan & supporter of the role & function of the FinCom.

Greenhornet, the contracts were negotiated and settled and yet some of the employees haven’t seen a dime. Didn’t we vote on some of those contracts at Town Meeting this past April? I’m getting really confused. I wish they would also tell us which departments fall under which union contracts, clerks, municipal maintenance etc. so we know what the heck we are voting for and if we have previously voted for that contract. It would also be nice to know how many years of the contract we are voting for, I know some of these contracts weren't settled for 3 or 4 years.

Sorry Stewie, I didn't mean to ignore your questions, but I had the opportunity to get away for a few days.....never even looked at a computer....and didn't miss anything!

"Raise, appropriate, borrow and transfer" is general language that is correctly used in the money articles BUT we do need to know specifically how the TA intends to fund those purchases.  I don't think borrowing is in the plan at this point.  Any departmental money that was available at the end of FY11 was already transferred (with approval of the fincom) at the end of the fiscal year. 

I am not sure how your question on the levy limit relates to the articles. At the Annual Town Meeting we voted on a budget which used an estimated figure for revenue based on anticipated reciepts which was based in part on collection of real estate taxes.  The town used a number of $31,500,000 which is probably pretty close to our levy limit (FY 11 was a max of $30,772,000 but we should be able to use new growth from Rosebrook), but, as you pointed out, since we haven't seen the Schedule  A for FY11, we can't be sure.  We also were never given (to my knowledge - although they may have the figures now) the variance between on anticipated and actual revenues for FY10 since there were so many questions in the audit.  We should have the variance for FY 11 by now, but there have been some major communication issues between the fincom and the town accountant.  Last I heard they were interviewing candidates.  Has anyone heard if someone was hired?

As of the 9/28 meeting the DOR had not certified free cash. 

The fincom did not approve any more $ for the union contracts over and above what was voted at the annual town meeting. The sentiment was that if there was more money available, it would negatively impact the TA's position.

I hope that others will join me at the public hearing on the warrant articles tomorrow night.  If not, please continue to ask questions and I will bring them to the hearing and see what we can get answered.