Finance Committee Meeting Minutes 1/10/23 - 4pm
Minutes of the meeting 1/10/23
Meeting Date: Tuesday January 10, 2023
Meeting Opened at 4:03pm
Finance Committee Meeting 1/10/23
Finance Committee Members Present- Ilene Marcus, Frank Abbot, Michele Miller
Other individuals present: Laurie McArthur (Office Assistant), Micky Jervis
MINUTES AS AVAILABLE
The Finance Committee reviewed the draft of the minutes from 12/13/22. Michele made a motion to accept the minutes as amended from 12/13/23. Call a vote- Ilene- yes, Frank- yes, Michele- yes.
The Finance Committee reviewed the draft of the minutes from 1/3/23. Michele made a motion to accept the minutes from 1/3/23. Call a vote- Ilene- yes, Frank- yes, Michele- yes.
CONTINUE WORK ON OPERATING BUDGET AND ANALYSIS
The Finance Committee discussed the operating budget along with various concerns that arose surrounding costs and budgeting. Frank spoke with Don regarding the tax rates. The Finance Committee discussed revenues and Ilene present the information she found. The increase in revenue is 3 percent and there is expected to be a deficit. A discussion ensued regarding the pros and cons of utilizing free cash.
Frank said that he would reach out to the Parks Department to look into the parking situation in the summer time for Lake Garfield. Frank discussed the budget presented to him by the Parks Department, and the Finance Committee explored feasible options for this budget.
Ilene and Frank will schedule a meeting to discuss the operating budget. From here the Finance Committee will set a budget meeting with Melissa to review the Town Administrator and Select Board budgets.
The Finance Committee discussed the Hume case and how this will affect the funds of the Town. Ilene presented the idea of utilizing mobilizing efforts from local towns. The Operating Budget will be completed prior to completing the Capital Plan and Policy.
CONTINUE WORKING ON CAPITAL PLAN AND POLICY
Ilene said that the Select Board has the Capital Plan and Policy on their agenda. Ilene discussed differences of opinion of the Finance Committee and the pros and cons of sending separate letters pertaining to this issue. Ilene suggested waiting to send out the formal letter until they have met with the Select Board. Ilene will send her letter to the ARPA groups of the Park and Community Center.
UNANTICIPATED TOPICS
The Finance Committee will have a joint meeting with the Select Board next week. The Finance Committee will meet at 4pm on 1/17/23 and they will meet at 5pm on 1/17/23 with the Select Board.
Frank inquired about means of tracking expenses after completion of the budget.
Michele made a motion to adjourn at 5:04pm
Frank seconded- Frank- yes, Ilene- yes, Michele- yes.
Documents used at the meeting
- Letter presented by Micky Jervis
- Operating Budget and Analysis