Finance Committee Meeting Minutes

Finance Committee meeting minutes, Thursday, May 2, 2019, 7pm.

Present:

Jonathan Sylbert, Chair

Rebecca Wolin

George Cain

Also present: Adam Chait, Peter Chait.

Adam updated the Finance Committee on the progress with Fiber Connect.

Discussion of 2015 bond vote : this was to borrow $1,960,000 for the "construction and installation of a regional broadband network…carried out by the Town’s Municipal Light Plant acting as a member of a cooperative of such Plants…” etc. Note the terms “regional” and “cooperative.” Effectively, it applied only to Wired West. The Town Accountant recommended rescinding this vote because it affects our bond rating. Now the bond money can be freed up for an alternative proposal.

FY20 budget corrections. Various budget discrepancies were discussed and will be brought to the attention of the Select Board. Principally, it appears raises of more than 2% were given to salaried managers who do not work hourly.

Meeting adjourned, 8:20pm.