Finance Committee Meeting Minutes 3/8/22

Attendees: Miller (in person) Fitzpatrick and Sylbert (remotely)

Remotely: Public: D Coburn  and J Weingold, J Makuc  (Selectboard)

In Person: Mickey Jervas.

Reserve Fund transfers presented for a vote and accepted unanimous.

Minutes: 2/15 minutes accepted by 2 in favor to 1 abstention. 2/22 accepted unanimously.

George Cain was welcomed.

Draft Minutes for 3/1 sent to Sylbert

Discussion of missing minutes for FC Executive Session as per OML. JS accepts responsibility to create a "fair copy" of the meeting. 

Review of Town Clerk responses postponed until after reading. Forwarding her email to other members.

Highway department pay scale deferred to 3/9 joint meeting. Are these adjustments already in the budget? 

Schools: current budget reflects 10.45% increase or over $175,000 

JS reviews budget pointing out that schools, debt service, and expenses related to employee compensation: health ins and retirement as biggest source of increase. 

7.82% increase in operating expenses.

Cain: questions whether schools merger is imminent. Options to be presented in May.

Tech school is under discussion.

J Makuc admitted along with unidentified public.

Return to Agenda:

Truck will be purchased through borrowing.

Miller asks how we can determine where the overages are which can be used to reduce budget. JS states that we can figure that out using "a tab" showing actual vs budgeted

expenses but we don't have access to it at this time

Turnbacks and underestimating revenue are possible sources of excess free cash.

Overage on Salt and Sand acct is not adjustable. 

Select Board voted to propose 4% COLA on 3/2.

Cain states that $300-500,000 Free Cash is too high and advocates looking more closely at revenues.

FC supports the use of HR funds for handbook.

Move to adjourn.

Michele Miller