Finance Committee Meeting Minutes 3/28/2023

Minutes of the Finance Committee meeting 3/28/23

Meeting Date: Tuesday March 28, 2023

Meeting Opened at 3:37 pm

Finance Committee Meeting 3/28/23

Finance Committee Members Present- Michele Miller, Frank Abbott, Ilene Marcus

Other individuals present: Laurie McArthur (Office Assistant), Melissa Noe

Other individuals present remotely: Kenn Bassler, 

Call to Order: 3:37 pm

AGENDA:

MINUTES AS AVAILABLE

            No minutes were reviewed at this meeting.  

FINAL BUDGET MEETING DECISIONS

            Ilene suggested discussing outstanding expense articles, special articles, outstanding capital, and process the next steps. 

Melissa reported that currently the estimated tax rate will be 7.21, which is a difference of 1.12 from the current tax rate.  

The Finance Committee and the Town Administrator discussed the function of the budget sheet and how to read the document, along with the process of obtaining the numbers in the budget.  Ilene said that it was helpful to find out the figures that the Finance Committee has to work with when preparing the budget especially revenue estimates  Ilene discussed the figures with a tax increase of 1.2 percent, and talked about how this figure could vary depending on the tax rate.  Melissa reported that the Fire Chief will be attending the meeting tomorrow night to discuss his budget.  Melissa reported that they were using all but $19,000 in free cash, and explained how free cash worked along with the timeline for when the free cash will re-appear in the account.  

Frank clarified that the Town would be utilizing the majority of the free cash in this budget, but would have additional funds in stabilization.  The Finance Committee discussed the budget in order of listed items with the Town Administrator.  Melissa discussed the Fire Department budgetary items pertaining to maintenance and equipment and discussed the amount required just to operate.  Melissa reported that in the past two years the hourly rates and maintenance fees have doubled for the Fire Trucks.  Melissa clarified that the Town will be obtaining the loader through Chapter 90, and the tractor sold today for approximately $16,000.  Ilene inquired about conducting additional research on the Fire Department for the next budgetary year.  The Finance Committee and Town Administrator discussed new and additional costs that the library has recently incurred, and discussed the need to work on storage for temperature sensitive documents that are currently located in the Town Hall.  The Town Administrator discussed how the Community Center and the Bally Gally fund will need to be separated starting this budget year, along with transitioning the cost of yoga to the Community Center fund as opposed to having the Parks Commission cover the costs.  The Finance Committee wondered if individuals should pay for the yoga class vs having the Community Center pay for the class, and a more uniform system of how classes are categorized as free, suggested, and cost.  

Michele discussed concerns with the Highway Department assisting with demolition or soil removal for the Parks Commission playground project.  Michele talked about how this would increase the budget for the Highway Department.  Ilene said that the Finance Committee could look into the costs for the project and determine the feasibility.  Michele asked what the project would actually be costing.  Ilene said that she would be open to discuss removing the tent and yoga from the budget at this time.  Michele suggested that patrons possibly contribute $5 to help pay for yoga classes.  Melissa reported that the current tax rate is 6.09 percent and would potentially be increased to 7.21 percent.  The Finance Committee discussed concerns regarding how this would be a significant increase in the tax rate.  Michele said they need to cut out several items in the budget to try and help avoid a significant tax increase.    

Ilene said that if we are not going to raise taxes she would be open to cutting the tent, yoga, the truck, and the beach monitor.  The Finance Committee discussed the possibility of purchasing a tent vs. renting a tent. Melissa explained concerns with several special articles and recommended that the Finance Committee attend the meeting tomorrow to continue to discuss special articles and concerns with the budget and where certain funds are being allocated.  

Melissa explained areas in the budget where some modifications could be made, and provided the Finance Committee with options to modify the current health insurance plan that was listed as an extra health care plan.  Melissa reported that nothing in the special articles would change now since free cash is currently being utilized to pay for special articles.  It was reported that in past years this has been used to help decrease the tax rate. 

Michele said that she would like to bring the budget into a place where the tax rate would not have to be increased.  The Finance Committee and the Town Administrator went through the items listed in the budget that they were considering removing at this time.  They reported that this would come to approximately $32,800.  Ilene discussed the special articles that the Finance Committee was considering removing from the budget this year, and the Finance Committee discussed the option of lowering the loan payments on some of the high end items.  Melissa shared the minimum payments on the Library loan, and the payment for interest on the truck. Ilene outlined newly recommended payments for the Library, the truck, and recommended the removal of the other truck from the budget.  Melissa said that the estimated repairs for the Town Hall would equal approximately $75,000.  Melissa said that she did not believe the Select Board was going to approve the $49,500 for the feasibility study, which would mean that money would go to free cash.  She outlined all the repairs that Jim recommended for the Town Hall and reported that to complete all repairs it would be approximately $82,000.  Ilene provided estimates of the funds after potentially removing each of the individual items.  

Frank discussed the variations in the tax rate over the past years and said that it will be challenging to get it back to 6.09 percent. 

Ilene asked what tax rate the Finance Committee would like to see.  Frank said that he would like to see the tax rate decrease.  Michele said that the tax rate would make a difference to her.  Ilene said that the Finance Committee would like to see the tax rate be a low as possible, and the Finance Committee agreed.  Frank discussed how increasing employee wages significantly will impact the rates.  Michele said that she believed that they need to hear from the Fire Chief prior to making any other decisions.  

AGENDA AND SET DATE FOR PUBLIC SESSION.

            This was not set during this meeting.  

Ilene made a motion to adjourn the meeting.  Michele seconded the motion.  Call a vote: Frank-yes, Ilene-yes, Michele-yes.  Meeting adjourned at 5:10pm.