Board of Selectmen Meeting
September 12, 2007
A few things were discussed at this afternoon's (4pm) special Selectmen Meeting. Paul Sullivan described how 58 of 167 town employees (part time and full time) would be lost as a result of the failed override vote; this comprises 35% of the town's workforce.
The long-discussed Roberts Road sale has been completed, netting the Town $485,911.09 after expenses and taxes. Since the Town tax rate has not yet been set, this money could be allocated to FY08. Also, final State Cherry Sheet numbers represent a $47,610 increase in revenue. A reduction in Assessors Overlay by $100k was also detailed, as was an increase in the estimated new growth ($422k vs $350k). There are also some reductions in two income categories - $20k in fees, and $200k in estimated excise tax revenues. Bridgewater's Town Accountant believes that we may ultimately agree on a $100k reduction in estimated excise. All told, as currently stands, the Town has about $535k in available additional revenue [$635k if the State accepts the excise tax figure].
Free Cash is currently estimated at $293k; Town Administrator recommends using $250k to offset the previously short-funded insurance account and the remaining $43k to Reserve (to cover election costs, etc..)
There was much discussion about the numbers for various department if the previously recommended budget cuts take place - and that even with personnel reductions that departments would need additional funds of about $631k. So, as I understand it - the $1.495M in cuts previously announced as happening if the override fails - would be the 58 employee layoffs, but only result in an expense reduction of $864k.
Mark Oliari made a motion, that was unanimously approved, to send a letter to Bridgewater-Rayhnam requesting a return of $500k.
Stan Kravitz referred to a 40R project that projects to net Bridgewater $2M in fees over the next three years; estimating that the first $600k would arrive to Bridgewater in March/April 2008. Dennis Gallagher cautioned against being that agressive in estimating revenue that still needs Town Meeting approval for zoning changes and State acceptance. Mark Oliari commented that he would like to explore ways for Bridgewater to somehow recognize that projected income to save Town jobs.
At about 5:30pm, the meeting was recessed until Thursday Sept 13th 7:30am at the Academy Building. The Selectmen are planning to attend the weekly Department Head Meeting.
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