Finance Committee Meeting Minutes 3/25/2020

FINANCE COMMITTEE MEETING WITH SELECT BOARD

MARCH 25, 2020 MINUTES

ATTENDING MEMBERS:                     

            GEORGE CAIN, CHAIR             KENN BASLER, CHAIR              MELISSA NOE                              

            JON SYLBERT                           STEVE WEISZ                                                  

            REBECCA WOLIN                    DON COBURN                        

The Call-in Meeting was called to order at 9:03 AM. 

The proposed 3.5% salary and wage increases and the idea of a uniform 75/25 healthcare split for all employees was discussed and approved by both the Select Board and the Finance Committee.

In consideration of the current economic situation, the Finance Committee recommended (on a 2 to 1 vote) that only one DPW truck be financed out of Stabilization (along with the FD Capital).  The Select Board also voted (on a 2 to 1 basis) to finance two trucks out of the Stabilization Account in the 2021 Budget.  This difference in position can be resolved at Town Meeting.  The Finance Chair noted that the remaining balance in the Stabilization Account would be enough to cover a second truck in the following year’s fiscal budget.  Further, the Finance Committee Chair suggested that the Stabilization Account be reduced for this Fiscal Year by approximately $200,000 to reduce the tax rate.  The remaining Stabilization Account would be about $600,000.  This figure would be the Town’s lowest Stabilization amount in the past 14 years, but it would still be above required State recommended amounts.

The Finance Committee adjourned its meeting at 9:57 AM.

Respectfully submitted,

George Cain, Chair