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Tuesday, December 22, 2020

Selectmen 2020-11-27

Selectmen Minutes

November 27, 2020

Present:  Fred Woodhouse, Diane Callahan, Gary Backstrom

Call to order by Fred Woodhouse at 5:00 pm.

This is a special meeting to set the 2020 tax rate.  The preliminary rate from the Department of Revenue Administration (DRA) is $23.07/M, an increase from 2019 of $.95.

The Town Administrator reviewed the components of the tax rate - Municipal, County, Local School, and State Education Tax.  Review of the amount of fund balance available and discussion about how much fun balance to use.  The Town Administrator recommended using $27,000.00 of fund balance, which would leave $103,369.00 in fund balance.  The DRA recommends retaining 5% to 17 % of fund balance.  This amount would leave a 7.14% retention. 

Motion to use $27,000.00 of fund balance, leaving $103,369.00 in fund balance (Woodhouse/Backstrom).  All in favor, motion carried.

Meeting adjourned at 5:45 PM.

Minutes taken by Debra Harling.  Approved on 12/01/2020.