Finance Committee
05/08/2006 Finance 1 COMMITTEE ON FINANCE May 8, 2006 6:00 PM Vice-Chairman Gatsas called the meeting to order. Vice-Chairman Gatsas called for the Pledge of Allegiance, this function being led by Alderman Roy. A moment of silent prayer was observed. The Clerk called the roll. There were twelve Aldermen present. Present: Aldermen Roy, Gatsas, Long, Duval, Osborne, Pinard, Lopez, Shea, DeVries, Smith, Thibault and Forest Absent: Aldermen O’Neil and Garrity Messrs.: David Cornell, Tom Nichols, Stephan Hamilton, Jim Hoben, Denise Boutilier, Kevin Clougherty, Randy Sherman, Virginia Lamberton Vice-Chairman Gatsas advises that the purpose of the meeting shall be continuing discussions relating to the proposed FY2007 municipal budget and we’ll just change a little bit of the order and apologize but there are some people that had some commitments and have the Assessors go first followed by Traffic and then Finance. Board of Assessors Mr. David Cornell, Chairman of the Board of Assessors, stated today we will be presenting information on the exemption analysis giving an update of exactly where we’re at with our 2006 projected tax base. Historically the Mayor and Board of Aldermen have adjusted the exemption amounts during reval years. Our goal in this process is to provide the Mayor and the Aldermen with as much factual information so they can make an informed decision on this very important topic. Certainly we feel our role in this process is advisory in nature and some of the figures that we’ve provided to you aren’t necessarily our recommendations but they’re the figures that need to be adjusted to if the goal of the Aldermen is to keep the same proportional benefit before the reval and after the reval.
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