Meeting Notice.
The RTM Finance Committee will meet on Tuesday, July 17, 2012 at 7:30 pm in Room 309 at Town Hall to discuss following:
AGENDA
1. Update from the Finance Director
2. The Finance Committee will consider the following appropriations, in excess of $20,000, approved by the Board of Finance on July 11, 2012:
APPROPRIATIONS IN THE 2011-2012 BUDGET
A request by the Parks & Recreation Director for an appropriation of $32,199.59 to the Maintenance-Water Account #10108820-566400 due to account under budgeted.
A request by the Finance Director for an appropriation of $158,320, the breakdown shown on the attached schedule, for the DPW contract settlement.
APPROPRIATIONS IN THE 2012-2013 BUDGET
A request by the Finance Director for an appropriation of $166,625, the breakdown shown on the attached schedule, for the DPW contract settlement.
3. The Committee will consider a request by the Executive Director of the Levitt Pavilion for the Performing Arts for an appropriation of $6,700,000 (with bond and note authorization) to the Capital Account for the construction of the Levitt Pavilion. The Town of Westport’s portion will be $1,100,000. In a straw poll at their July 11 meeting, the BOF indicated at least five members were in favor of this action, with a final vote expected to be taken on Aug. 1, 2012. The RTM Finance Committee is expected to vote on the request, subject to a positive action taken by the BOF on Aug. 1.
4. The Committee will begin a review of new Defined Contribution Plan for Non-Union Employees that has been finalized by our Pension Attorney Larry Goldstein, as well as the updated 401k Plan that has been in existence for quite some time and is available to all employees. These will be presented to the BOF in the near term, and this discussion will provide the opportunity to become familiar with the details of the plans. These plans, along with their Trust Agreements, are attached to the agenda.
Jeff Wieser
Chair
RTM Finance Committee
July 13, 2012
