May 3, 2022 finance.docx Beverly Council on Aging Director's Finance Meeting
Date May 3, 2022 Finance Meeting
Place: BCOA
Members Present: Blair Smith, Claire-Marie Hart, Bob Hobbs, Cynthia Montalbano, Susan Feeney,
Stephanie Tallo, Rich Tabbut,Jessica Wistran, Barrence Whitfield
Staff Present: MaryAnn Holak, Bruce Doig, Director of Community Services
Meeting called to order 12:00 pm.
Director's Report
Finance Report
Discussion of Proposed City Budget for FY'23
Total Municipal Budget Request=761,636.00
Increase of 2,351 seniors over the last decade living in Beverly has led to an increase in service needs.
Seniors served 7/01/21-4/30/22 Total is 1,944
Personnel Costs were a total of$662,898
Services Purchased total $61,538
Supplies Total $37,200
State Formula Grant amount is$98,268
This Grant pays for 9.75 hours of Social Work, many of our building expenses, maintenance and
volunteer recognition events.
Information update on the Enterprise Fund-currently we have a reserve of around $104,000.
Tentative meeting with the Finance Director is planned for September 2022 Meeting with the Board.
Private Donations fund a small amount of activity needs.
Meeting adjourned at 1:00 pm
Respectfully Submitted
Cynthia A. Montalbano