Category Archives: Finance Committee

Selectboard agenda item number 8: Reaffirm Master Financial Policies

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This is a wonkish post. Read no further if you don’t want to delve in the details of the the Town’s Master Financial Policies, unless you suffer from insomnia and need somnolent reading material. Listed as agenda item number 8 for the Selectboard meeting on Wednesday, March 10, is the topic: Reaffirm Master Financial Policies. I don’t recall reaffirmation of the policies as an annual housekeeping event in Norwich. But, it’s a good idea. A nice project for Finance Committee Continue reading Selectboard agenda item number 8: Reaffirm Master Financial Policies→

Yikes: Finance Committee says its work is ‘pointless’; 4 of 5 members resign

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In a rebuke of the Selectboard, the Finance Committee declared its efforts are “pointless” because of a lack of interest by the Selectboard in the Finance Committee’s work. Thereafter, four of the five members resigned. Linda Cook is the only remaining member. The memorandum was delivered to the Selectboard on Wednesday morning, following a 4-1 vote by NFC at its special meeting the night before. The Town Manager declined to release the document until it appeared in the Selectboard packet Continue reading Yikes: Finance Committee says its work is ‘pointless’; 4 of 5 members resign→

Finance Committee makes recommendations on proposed budget

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The Norwich Finance Committee issued its preliminary recommendations regarding the proposed budget. Its memorandum is in the packet for the Selectboard meeting on January 6, 2020, starting at page 22 of the “revised” packet. Some highlights. Budget should be flat, in real terms. “The NFC believes the FY22 budget should remain flat vs. FY21 in real terms. Accounting for inflationary pressures, a reasonable nominal target increase would be in the order of 3%.” It seems doubtful that the Selectboard will Continue reading Finance Committee makes recommendations on proposed budget→

Budget Watch: Does Norwich need a capital plan?

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The Town’s need for a capital plan was on display at the Selectboard meeting on May 27. The Town Manager reported that Norwich will likely need to borrow money to repair the box culvert on Route 132 and to replace an aging dump truck. These expenses are not covered by sufficient reserves in their respective designated funds. Ad hoc decisions by the Selectboard on the financing of significant expenditures is not a preferred approach. Financial experts suggest instead a capital Continue reading Budget Watch: Does Norwich need a capital plan?→