Finance Committee Meeting Minutes 11/15/22

Finance Committee Meeting 

November 15, 2022 4:30 pm 

Present: M Miller, I Marcus, F Abbott, Melissa Noe signed on/off 

Minutes from 11/7 passed unanimously 

Pending Reserve Fund Transfer was approved unanimously after Marcus explained that errors in Assessors accounting numbers as well as under budgeting had been at the root of budget going over so soon in the fiscal year.  

RE above: Requiring procurement to take place through Town Admin will save money instead of each dept going their own way: impact operating budget overall. 

Review of Capital Planning Policy and Procedures: Discussed making clear the difference between Policy and Planning.  Setting clear markers for Evaluating Requests. Context of Town Needs vs Town Wants. 

Issue of ARPA disbursement without regard of overall Capital Plan.  

Proposed writing a Column for Monterey News: RE: our agenda. Abbott has a draft in the works. 

Set calendar of meetings through year-end: Nov: 22, 29. Dec: 6, 13, 20. 

Set next Agenda: COLA letter from TA, add school regionalization costs, finish CPP. 

TOWN HALL CAPITAL COSTS VS MAINTENANCE 

Discussed setting up a tour of the building ASAP. Reviewed preliminary list of needs. 

Meeting adjourned at 5:15pm