Revenue Committee 20190206 Minutes

Source page 1

Town of Canton - Revenue Forecasting Committee 
Meeting Minutes 
Wednesday, February 6, 2019 
Members Present: 
Charlie Aspinwall, Town Administrator 
Rob Barker, Chair, Finance Committee 
Kathy Butters, Town Accountant 
Tim McKenna, Vice Chair, Finance Committee 
Jennifer Fischer -Mueller, School Superintendent 
Jim Murgia, Finance Director 
Barry Nectow, School Business Administrator 
Ed Walsh, Building Commissioner 
Karen Zukauskas, Assessing Director 
Members Absent: All members were present. 
Non -Voting Guests Present: 
Dan Cole, Finance Committee 
Ellen Jones, Recording Secretary 
Jen Kemalian, Executive Assistant, Board of Selectmen 
Reuki Schutt, School Committee 
Opening: 
A meeting of the Revenue Forecasting Committee was called to order at 2:00 p.m. on Wednesday, 
February 6, 2019 in the Salah Meeting Room of Town Hall. 
The purpose of the Revenue Forecasting Committee meeting was to discuss and vote the FY2020 
revenue estimates for the Town of Canton. 
Revenue Forecasting Policy — Mr. Murgia reviewed for the members the Revenue Forecasting Policy as 
follows: 
"Revenue surpluses are more desirable than revenue deficits. Therefore, the process of estimating revenues is not 
designed to reach a number which has an equal probability of being exceeded or producing a shortfall. Rather, the 
objective is to develop an estimate, based on historical averages and currently available information, which has a 
substantial chance of being met and a small chance of falling short." 
(Note: The policy from the prior year stated "based on historical actuals". The policy this year stated 
"based on historical averages".) 
A motion made by Mr. Barker to accept the Revenue Forecasting Policy as written was seconded 
by Mr. McKenna. Vote: 9-0-0. 
New Growth (Real Estate & Personal Property) — Mr. Walsh reviewed for the Revenue Forecasting 
Committee the potential new growth for 2020. 
Mr. Walsh reported that only one 40B unit remains to be built at Acorn Estates. With regard to permit 
applications being submitted prior to July 1, 2019 for subdivisions, Mr. Walsh anticipates approximately 
two permits for Larkin Court, two permits for Yorkshire Estates and one permit for a lot on Indian Lane. 
He further stated that the number of houses being built is down by approximately 4-5 houses as 
compared to last year and there are not a lot of buildable lots or land left in Canton. 
With regard to commercial projects, Mr. Walsh does not anticipate any substantial building projects being 
completed by the end of June 2019 so there would be no effect on new growth for FY20. 
Revenue Minutes 02062019.doc Page 1 of 4 2/6/2019