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The Borough of Lansdowne Pennsylvania The Borough of Lansdowne Pennsylvania

Finance Committee

July 13, 2009

Present: Billy Smith, Stephen Wagner, Ellen Lustgarten, Craig Totaro, Joe Bartley

There were no visitor comments

The Committee discussed the status of 2009 revenue and expense through June 30th and the concern about the shortfall of prior year tax collection and transfer fee revenue. There is also concern with the impact of the state budget on the Borough’s finances and the reduced chance of the Borough receiving discretionary funds. In this context the committee is looking to reevaluate the Sewer Fund allocation to the General Fund as well as the feasibility of taking out a loan for a needed sanitation vehicle and other larger expense items.

The Borough Manager received a quote from DVHIT for Commercial liability insurance which was higher than the amount presently paid for this coverage which is due to renew August 1st.

The Finance Director reported that the Borough is in the midst of the annual state Liquid Fuels Audit.

The Committee reviewed various ideas for financial incentives the Borough could provide to artists moving to or starting businesses in Lansdowne. This will be reviewed in the context of the development of the 2010 budget.

The Committee reviewed a recommendation from the Borough’s insurance broker to increase its Commercial Crime Insurance levels. The Committee decided this was not necessary.

The Committee reviewed and rejected a request from a resident looking to reduce his sewer fee for 2010.

The Committee adjourned to Executive Session to discuss personnel issues.

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