MINUTES OF A BUDGET AND FINANCE COMMITTEE MEETING HELD IN THE INDIALANTIC TOWN HALL ON JULY 8, 2005

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[ Budget and Finance Committee - Meeting Minutes ]
MINUTES OF A BUDGET AND FINANCE COMMITTEE MEETING HELD IN THE INDIALANTIC TOWN HALL ON JULY 8, 2005

PRESENT: Eugene Terkoski, Chairman
Orlando Brillante
Norman Greer
Jack Kish
Christopher W. Chinault, Town Manager
Laura Eaton, Town Clerk
A. CALL TO ORDER AT 2:00 PM
Chairman Terkoski called the meeting to order at 2:00 pm.
B. ELECTION OF CHAIRMAN AND VICE CHAIRMAN
Mr. Brillante nominated Mr. Terkoski as Chairman. Mr. Greer seconded. Motion carried unanimously.
Mr. Brillante nominated Mr. Kish as Vice Chairman. Mr. Terkoski seconded. Motion carried unanimously.
C. FY-06 PROPOSED BUDGET
Town Manager Chinault provided revisions to the budget and gave a summary of major projects included in the budget. The Board discussed the budget.
1. Consideration of proposed millage rate
Mr. Greer moved to approve the proposed millage rate of 4.6203. Mr. Kish seconded. Motion carried unanimously.
2. Consideration of proposed budget
Mr. Greer moved to approve the proposed general fund budget in the amount of $3,048,181 and the proposed total budget of 3,766,563. Mr. Kish seconded. Motion carried unanimously.
D. VEHICLE REPLACEMENT SCHEDULE
Budget and Finance Committee Minutes July 8, 2005 Page 2
Town Manager Chinault provided an updated vehicle replacement schedule.
E. PROJECT UPDATE
Town Manager Chinault presented a project update as part of the discussion on the proposed budget.
F. ADJOURNMENT
The meeting adjourned at 2:50 pm.