Finance Committee Meeting Minutes 3-21-2023
Minutes of the meeting 3/21/23
Meeting Date: Tuesday March 21, 2023
Meeting Opened at 4:02 pm
Finance Committee Meeting 3/21/23
Finance Committee Members Present- Michele Miller, Ilene Marcus
Finance Committee Members Present Remotely- Frank Abbott,
Other individuals present: Laurie McArthur (Office Assistant), Melissa Noe, Mickey Jervas
Call to Order: 4:02pm
AGENDA
COMPLETE REVIEW OF BUDGET IN ANTICIPATION OF INFORMATIONAL MEETING
Frank provided an update regarding the Select Board meeting, outlining the various payment options for the current Town loans. Frank discussed the reasoning for purchasing a truck this year as opposed to next year and said he would not recommend purchasing the truck this year. Frank clarified that it is the Chevrolet that Jim uses. Melissa reported that if it goes back in the budget, it will be a $78,000 purchase. Melissa discussed the issues with the current Chevrolet truck and reported that if they wait until next year then there will be approximately $200,000 in vehicle purchases.
Michele recommended going through the budget and highlighting the items they disagree with adding into the budget. Frank disagreed with adding in the $78,000 truck, Ilene and Michele suggested adding the truck back into the budget. Michele said that the stabilization fund seems to be being neglected, reporting that the original budget had $50,000 in the stabilization fund. Ilene provided an overview of what the stabilization fund was utilized for. She reported that it was not used yet this year, and asked if it was used last year. It was reported that $607,297 was currently in the stabilization fund. Frank said he did not have a problem with placing $50,000 in stabilization and suggested utilizing some of the stabilization funds towards the purchase of a vehicle if necessary.
Ilene asked if there was a full crosswalk of the stabilization to what they can use the Chapter 90 in the Capital plan. Frank asked Melissa to send the Finance Committee the updated information from the bank. Ilene asked if they could restructure in getting options. She said that she was ok with placing in the $50,000, but that the Finance Committee needed to investigate the larger picture and future purchases. Michele clarified if some money could be taken out of stabilization, and Melissa confirmed. Frank suggested understanding the number and try to minimize the amount that must be borrowed. Michele said they need to see what the borrowing consequences would be.
Michele asked if the ball field was going to use ConCom funds, and Melissa reported that she was meeting with them Friday. Michele reported that the cruiser and the radios were added back into the budget, and they were still waiting to hear back on the Med 9 Fire Vehicle from the Fire Chief. The Finance Committee discussed uncertainties for obtaining the vehicle for the Fire Department, potential costs, along with whether the current vehicle could be utilized for the time being. Melissa clarified that this is just obtaining permission to borrow and would not start until the vehicle is obtained. Frank reported that something happened with a payment, and Melissa clarified that not all the approved monies had not been put towards the payment. Melissa reported that there is money sitting at the moment, because once a payment has been made, then another payment is not able to be made. Therefore, the remaining funds will return to free cash. Frank said that the Finance Committee will require additional information from Shawn.
Ilene asked if holding a Town Meeting was up to the Select Board, and asked the Finance Committee if additional funds should be added to the Town Meeting line. Ilene recommended placing the $1,000 into the Town Meeting fund. Michele asked about the Fire company capital expenses and improvements. Ilene said they need more information. Frank provided information about a previous lease that had been signed with the Fire Department, and within this lease there were details about capital improvement money. Melissa said that the projects they must do cost over $100,000 and so the Fire Department is saving the funds so they can take care of the larger projects. Ilene said that perhaps it could be a capital project and financed differently.
Michele said they need an account of the accounting. Melissa reported that there was $60,000 in the account. Melissa reported that the radiant heat in the floor needs to be done, duct work, the exhaust system, and a kitchen needs to be installed. Michele said the Fire Department is requesting $30,000 which would put their special account to $90,000. Michele asked what the mechanism was for oversight. Melissa said that they did obtain quotes when the railing was replaced. Michele clarified the process for submitting the invoice. Ilene said that she was trying to see what percentage of the budget the Fire Company was, and Frank broke down the budget. Melissa clarified the budget, which included special articles. Melissa reported that the total operating budget was approximately $226,961.18.
Frank and Ilene agreed upon $50,000 going into the stabilization fund. The Finance Committee agreed to add $30,000 into the Fire Company Capital; however, Ilene wanted to review it to ensure it was done in the best way.
Michele said they were hoping to get funding to resurface Green Park. The Finance Committee agreed to place a hold on the Med 9 vehicle. Michele asked about the Feasibility Study. Frank said that Justin was waiting to hear back from Jim regarding repairs. Melissa reported that on Justin’s list was siding, and painting, and on Jim’s list was the siding, painting, floors, roof, and heating.
They only had one bid for the Feasibility Study. Frank asked if they put money in for general repairs or just the Feasibility Study. Melissa said they should put money in for both. Michele said that the Finance Committee will agree on having the Feasibility Study. Frank suggested putting some money in an account for the Town Hall and then they can later delegate where those funds will go in the future. Ilene asked about pro-bono services to help with the Town Hall and will look for resources to find someone to help with repairs.
Ilene threw out the figure of $80,000 for repairs on the Town Hall and a Feasibility Study. Melissa said that she is looking at transferring funds from a previous special article to help with repairs. Melissa reported that the highway garage needs to be re-sided. Ilene inquired about the insurance line. Melissa reported that additional funds had been added to include $11,177.
Mickey asked how the sick time had been resolved. Ilene said that she believed the Select Board looked at the sick time and added it to the budget. Melissa reviewed how many holidays there were for the Town. Ilene asked about the Parks department. She said they are waiting to hear about the ball field, and they are still working on the playground.
MINUTES AS AVAILABLE
Minutes were not reviewed during the meeting.
Michele made a motion to adjourn the meeting. Ilene seconded. Call a vote: Frank-yes, Ilene- yes, Michele-yes.
Meeting adjourned at 4:53pm