FINANCE AND COMMUNITY DEVELOPMENT COMMITTEE
Minutes for June 26, 2009
Attendance: Jane Billings (Borough Manager), Ralph Jacobs, Mary Lou Parker, Tom Huestis, Philip
Jefferson (chair)
1. Public Comment
No public comment.
2. Approval of Finance and Community Development Committee Minutes of May 22, 2009
Minutes approved.
3. Review of 2008 audit and findings
The Borough Manager will follow-up with auditor to seek clarification of Finding #2: Inter-fund
Balances in the document Borough of Swarthmore Schedule of Findings, dated 12-31-08.
4. Update on 2009 Revenues
Revenues this year are consistent with last year. That is, we are not running behind last year’s pace.
5. Loan renewal (variable v fixed)
The committee decided to leave the $500,000 loan that converted from fixed to variable rate in June
2009 as a variable rate loan.
6. Continued discussion on the EIT
The committee continued to discuss the merits of an EIT. The discussion will continue at our next
meeting.
7. 2010 Budget:
The committee began to look ahead to issues that are likely to be important for the 2010 budget
including: contracted increase for police, pension obligation, medical benefits, change in nonuniform
personnel longevity structure, elimination of Per Capita Tax, letter to non-profits for 2010
funding requests.
8. Change of meeting time
Due to scheduling conflicts, the committee’s September, October, and November meetings will
likely be moved to the evening