CAPITAL PLANNING COMMITTEE

TUESDAY OCTOBER 9, 2001


DRAFT COPY


The Capital Planning Committee met on Tuesday, October 9, 2001 in the meeting room of the Newtown Township Municipal Building beginning at 8:30 A.M.

Members present were Chairman Scott R. Harp; Elaine M. Gibbs; James A. Bowe, III; Robert A. Dieterle; Allen R. Fidler, III; Richard Fusco; Philip Newmuis, Jr.; and Phil Vance, and Interim-Manager Thomas Harwood.

CALL TO ORDER: 

Chairman Harp called the meeting to order.

APPROVAL OF MINUTES: 

Minutes of the meeting of September meeting were approved as presented.

PRESENTATION OF 2002 BUDGET: 

Member Bowe distributed copies of the planned Capital Planning Committee 2002 Budget presentation which will be interpreted at the up-coming Work Session of the Board of Supervisors on October 15th Finance Director Gibbs stated she has compared expenses/revenues for the three prior years to assess the Township financial foundation. She said; "Cash flow problems may be seen in future years, as developers' financial contributions cease (since the Township is almost built-out). She predicted that the General Fund might experience difficulty addressing and supporting debt service and major projects as has happened in the past.

Member critiqued the report constructively, adding and interpreting many items for clarity and helpfulness as the proposed budget is presented to the Board of Supervisors.

Note: a packet for Committee members regarding the Acme site will be distributed separately from the Supervisors usual Friday packets by mid-November.

Member Fidler cautioned against the Committee establishing priorities as the preparation is made, since that determination is that of the Supervisors.

Finance Director Gibbs suggested that the presentation would probably take twenty (20) minutes in total, fifteen (15) for the slide presentation and five (5) for questions from the Supervisors.

Various alternatives were discussed as the document was reviewed, and alternatives will be part of the presentation for Supervisors to consider.

SYCAMORE STREET PRESENTATION

Mr. Vincent Lombardi arrived to make a presentation to the Committee regarding the progress and expenditures regarding the reconstruction of Sycamore Street. He stated the project is about six weeks behind schedule at the present time, and that PECO would be starting their phase very soon. Discussion centered on establishing phases of the balance of the work: sidewalks, curbing, and paving. He & Ms. Gibbs agreed that progress and cash flow should move hand-in-hand so that costs did not adversely affect the Township cash flow.

Chairman Harp stated the Solicitor should maintain a presence so as to avoid delays/misunderstandings/controversies, to which Mr. Lombardi agreed.

Upon completion of the PECO phase of the reconstruction, all related work will be suspended for the duration of the winter season and resume in early spring.

BOND PRESENTATION

Mr. Mike Wolf distributed a document to members as prepared by Dolphin & Bradbury, Inc., whom he represents. Information reviewed was designed to reduce contributions from the General Fund of Newtown Township to currently-held bonds.

A question and answer period followed with Mr. Wolf who recommends the Township not seek new bonds at the present time. Members agreed that a determination should follow the final approval of the 2002 Budget in this matter.

ADJOURNMENT 

There being no further business to come before the Committee, the meeting was duly adjourned.

The November meeting will include a presentation of the Newtown Fire Association requests for the year 2002.

 

Respectfully submitted: __________________________
                                              Ethel K. Hibbs