Financial Forecast 4_12_2021 Meeting minutes Beverly Financial Forecast Committee
April 12, 2021 Meeting Minutes
Page 3 of 3
Abell - Yes
Ames - Yes
Ayles - Yes
Houseman - Yes
Manzo - Yes
Sherburne - Yes
Visnick - Yes
The motion carries 7-0.
Houseman invites the committee to submit in writing further thoughts on who the audience of
the Financial Forecast should be and what should be included in the document for the benefit of
that audience. Visnick requests that actuals from past years be included. Perry comments that it
is time-consuming to include every line of past actuals but offers to add the Undesignated Fund
Balance and Free Cash numbers from the past 3 or 4 years, which would serve as a summary.
Visnick comments that this would be a good start. Manzo suggests a graphic representation is of
the variances to show the balancing of the budget annually. Ayles notes that this could be
misread easily and lead the public to distrust the forecast. Visnick raises concern about
communicating data with Beverly residents concerning when revenues come in higher than
expected and expenditures come in lower than expected. Ayles identifies two goals: 1. The
reconciliation of the Forecast to the past budget and 2. Budget Variance Reports.
Adiournment
Houseman notes that the formal goal of the meeting has been accomplished and suggests that the
audience and content of future Financial Forecasts be continued at a later time. Abell moves to
adjourn at 8:45 p.m. Seconded by Manzo. Houseman takes a roll-call vote.
Abell - Yes
Ames - Yes
Ayles - Yes
Houseman - Yes
Manzo - Yes
Sherburne - Yes
Visnick - Yes