Members:

Guest:

First item discussed was item B-1, change in fiscal year. Chairman Abinanti explained the budget cycle for the various branches of Government:

Federal = Oct. 1

State = Apr. 1

County = Jan. 1

Town = Jan. 1

Village = June 1

Commissioner Langehoh and Budget Director Joe Phelan explained that the transition for the fiscal year change would take approximately 4 years. Both positive and negative aspects were discussed. Leg. Latimer explained that a change to July 1 would be positive because making decisions closer to the time that the State budget is passed, will allow the County will have a clearer view of both budget cuts and potential funding. Commissioner Langehoh explained that this would require a change in State law and agreed with Leg. Latimer that July 1 would be the best date since it would lag behind the State budget. The State budget is more important than the Federal budget because most federal funds are dispersed through the State. However, Commissioner Langehoh added that Westchester would not benefit unless the State and Federal budgets were passed on time. Some negative aspects are that it would be four years before comparable budget-to-budget numbers are available. Tax Anticipation Notes "TAN" must be repaid within one year. An 18 month budget during the transition period would make repayment planning extremely difficult. There will be a need to establish tax warrants prior to budget adoption during transition period. A different reporting system would also need to be established.

The next item discussed was the proposal by Leg. Carsky to establish a permanent Reserve Fund. The concept is to add this as a category to the budget. $2.5 million dollars would be allocated each year over a 10 year period to establish a $25 million dollar fund. This money would be appropriated through a request from the Budget Director to the County Executive and approved by 2/3rd of the Board of Legislators. Leg. Carsky told the committee that this would help to protect the County’s AAA bond rating. Commissioner Langehoh was highly supportive of the proposal. George Hosey of the Citizen’s Budget Advisory Committee explained that school districts are currently permitted to reserve 2% of their annual budget in this manner.

The next issue was item A-5, Preferential Bids. Leg. Carksy explained the background

for this proposal and that it only affects concessions or professional services. The committee will request that the law department draft the appropriate legislation.

The next issues for discussion were items C-1 and C-2, proposals by Leg. Latimer to dedicate the Marshlands Conservancy and Read Sanctuary. Chairman Abinanti requested that Leg. Carsky informally review the Environmental Review Forms in her Committee on the Environment. Leg. Latimer will meet with the Chairman of the Parks and Recreation Board for his input and may bring a new amended copy when this item is discussed next week.

Leg. Delfino moved to adjourn, second by Leg. Noto. Meeting adjourned at 5:00 pm.