NEWTOWN TOWNSHIP FINANCIAL PLANNING COMMITTEE

100 MUNICIPAL DRIVE, NEWTOWN, BUCKS COUNTY, PA 18940

Internet: http://www.twp.newtown.pa.us

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Minutes for the meeting held on January 22, 2013

The Newtown Township Financial Planning Committee met on Tuesday, January 22, 2013 at the Newtown Township Administration Building.

Members present were Warren Dallas, Rick Fuerman and Stu Caplan. Excused was Robert Daries.

CALL TO ORDER

Mr. Dallas called the meeting to order at 7:40 P.M.

INTRODUCTION OF MEMBERS

The members introduced themselves and gave a brief history on their backgrounds.

REORGANIZATION OF THE COMMITTEE

Mr. Fuerman made a motion to nominate Mr. Dallas for Chairman. The motion was seconded by Mr. Caplan and passed unanimously (3-0).

Mr. Dallas made a motion to nominate Mr. Fuerman for Vice Chairman. The motion was seconded by Mr. Caplan and passed unanimously (3-0).

MINUTES OF SEPTEMBER 25, 2012

Mr. Fuerman made a motion to approve the minutes of September 25, 2012, as presented. The motion was seconded by Mr. Dallas and passed unanimously with one member abstaining (2-0-1).

NEW BUSINESS

Confirm 2013 Meeting Dates

The members agreed to meet on the second Tuesday of the month at 7:30 P.M. going forward.

Mr. Dallas advised that some Township documents show the meeting time being 7:15 P.M. The Recording Secretary reported that she would advise the appropriate parties that the meeting time should be shown as 7:30 P.M. on the second Tuesday of the month.

Discuss Committee’s Goals for 2013 and its Mission/Purpose

Mr. Dallas updated the members on discussions he has had with Supervisor Ryan Gallagher with regards to the Committee’s goals, mission and purpose. Supervisor Gallagher suggested that the Committee meet tonight to discuss their goals, mission and purpose and then to make a presentation before the Supervisors.

The Recording Secretary provided the members with copies of the Committee’s Mission Statement and the Resolution that formed the Committee.

Mr. Dallas reported on matters that he has worked on since joining the Committee such as reviewing the Capital Budget and making recommendation to the Board of Supervisors. He is looking for suggestions from the members on items that they would feel comfortable working on. He plans on giving a report before the Supervisors at one of the February meetings.

The members discussed forecasting and the Muni Cast software. It was agreed that at this time Muni Cast will not be pursued by the Committee.

The members discussed forecasting possibly being a goal. Mr. Caplan suggested getting a spreadsheet file of the budget.

The members discussed reviewing the capital planning spending.

The members discussed researching other revenue sources.

The members discussed the effects of dipping into the Reserve Fund.

The members discussed reviewing the pension funds and consultant fees.

The members discussed reviewing the debt service and looking into refinancing.

The members discussed roadway maintenance.

Mr. Fuerman questioned if the Township is maximizing the funds available from the County or State.

The members agreed that proposed goals for 2013 would include:

  • Forecasting
  • Capital planning
  • Research other revenue sources
  • Review investment contracts and plans
  • Review debt service
  • Look for cost savings

Mr. Dallas discussed the need to have input from the Supervisors and Township Manager when it comes to deciding what the Committee should be focusing on. He will send an email to Mr. Ferguson and Supervisor Ryan Gallagher updating them on tonight’s discussion.

The members discussed the Supervisor’s February schedule. Mr. Dallas advised that he would like to present the Committee’s report to the Supervisors at their February 27, 2013 meeting. He will contact Mr. Ferguson to schedule the presentation.

OLD BUSINESS

None.

OTHER BUSINESS

The members discussed when the next meeting will be. Mr. Dallas advised that there would be no meeting in February and that the next meeting would on March 12, 2013.

PRIVILEGE OF THE FLOOR

None.

ADJOURMENT

There being no further business the meeting was duly adjourned at 8:34 P.M.

The next meeting is scheduled for March 12, 2013 at 7:30 P.M.

 

Respectfully submitted,


Christy Holley-Flaherty, Recording Secretary