Approval of Minutes: Minutes of the meeting held on August 19, 2003 were approved as submitted by motion of member Vance, seconded by member Fidler and approved by all members present.

The Newtown Township Financial Planning Committee met on Tuesday, August 19, 2003 in the meeting room of the Township Municipal Building, 100 Municipal Drive, Newtown, Pa.

Members attending were Allen R. Fidler, III, Philip Newmuis, Elaine M. Gibbs, Robert A. Dieterle; Phil Vance and Ryan O'Keefe. Attending was Township Manager Robert Pellegrino.

Call to Order

In the absence of Chairman Richard Weaver, Manager Pellegrino presided, calling the meeting to order at 8:15 A.M.

Approval of Minutes

Minutes of the meeting held on June 17, 2003 were approved as presented, with one correction noted relating to The Melsky Tract paragraph: the Council Rock School District has expressed interest, etc., and that no written letter had been received.

Future Proposals

In the absence of Code Enforcement Officer Thomas Harwood, Finance Director Gibbs reviewed a paper distributed from Mr. Harwood for Public Works and Codes Department. An immediate need with related costs comparing lease to purchase dollars war reviewed for a wide-sheet digital copier. The present machine will no longer be serviced with a contract expiring December 2003 due to age.
A new machine will electronically & digitally memorize the original document for copying.

Ms. Gibbs then distributed information received during the opening hour of 8/19/03 from Ricoh Business Systems, Inc., Bristol, Pa. This included maintenance contract costs, for parts, labor, deliver and installation.

Manager Pellegrino indicated that a purchase could be considered and Ms. Gibbs stated a proposal might be included in the 2004 Proposed Budget. She will study information received and possibly talk to John Casey at ImageNet in a follow-up conversation from an august 7, 2003 letter received. Manager Pellegrino stated that an amount of $25,000 in  grant monies from the State has been received and must be used before June 2004.

It was noted that other Grant monies might be available.

Budget Discussion

Discussion focused on the 2004 Budget, increased borrowing costs as related to borrowing plans for the planned expansion of township offices/capital expenses.

A brief discussion centered on plans for borrowing which have been considered for some months as plans for expansions continue by the Board of Supervisors.

Members of the Committee agreed that reducing construction costs might be wise; but expressed caution so that reductions were not reflected negatively on space and future needs for programming, etc., in the best interests of the township.

On motion of member Fidler, seconded by member Vance and approved by all present the following recommendation will be presented to the Board of Supervisors by Manager Pellegrino:

That the Board of Supervisors endorse Manager Pellegrino to secure a rate-lock for a 60 - 90 day period, at a small cost; said funds to be used for building purposes.

Discussion indicated approval of members that this would put the emphasis for borrowing based on the projected building project and promote the "cause".


Being there is no further business to come before the Committee, the meeting was duly adjourned.


Respectfully submitted, 


Ethel  K.  Hibbs, Secretary