Next year's budget deficit (i.e. covering academic '04-'05) is projected at $3 million +, assuming state aid does not decline from this year's level. This incorporates spending down reserves of $5.87M during the current fiscal year, and $3.9M in reserves next year.

The budgets from all appointing authorities are due to FinCom January 7; last year, School Com was reasonably timely in submitting their budget request, but some budgets came in much later. FinCom would like more consistency with deadlines. In January-April is when FinCom does their work in prep for Town Meeting, which appropriates funds for the following year. During that time, a series of messages come the state house indicating what Arlington will receive in state aid- this fluctuates based on what the State expects for its revenues, and what the Governor/legislators decide to do with those revenues.

As was noted by Annie in an earlier post, Symmes is not part of this picture. A developer is due to be selected in January; FinCom anticaptes revenues starting to flow to the operating budget in Fiscal years '06-'07.

FinCom has a website under construction- next month they will be up and running, posting lots of information, minutes of meetings, and general background. They are also planning a series of educational articles in Advocate, and a training session for town meeting members in April.

Next meeting 12/1.