Finance Committee Meeting Minutes 4-20-2023
Minutes of the meeting 4/20/23
Meeting Date: Tuesday April 20, 2023
Meeting Opened at 4:00 pm
Finance Committee Members Present- Michele Miller, Frank Abbott, Ilene Marcus
Other individuals present: Laurie McArthur (Office Assistant)
Other individuals present remotely:
Call to Order: 4:01pm
AGENDA:
COMPLETE CAPITAL PLAN TO INCLUDE FIRE CO CAPITAL
Frank discussed the Fire Company and thoughts based on how those funds could be used. Frank said that it would be contingent upon the contract but would have capital. The Finance Committee discussed starting with the zero-based budgeting at the start of the new financial year. Ilene left momentarily to ask Melissa about one of the charts. Frank discussed doing a stacked chart but reported that he created a chart with the discretionary expenses and the total budget. He recommended discussing the differences between the FY22and FY23 budget years.
The Finance Committee will present the 2 pie charts, the non-discretionary costs for FY22, FY23, and FY24, and discuss the ARPA funds.
The Finance Committee discussed potential future modifications for the Fire Company, and what would happen should the Fire Company become the property of the Town. Michele said they are showing individuals what they must look forward to, given the investments that are being made.
The Finance Committee discussed potential questions that may arise from the public and strategies to prepare for said questions, such as labor budgeting and free cash funding sources.
Frank inquired about labor. Michele reviewed the charts that would be being utilized at the Annual Town Meeting to display the information. Each of the charts displays three years, except for the total capital, which displayed 10 years. Frank reviewed the expenses for the Fire Company, the Free Cash and the Stabilization fund. The Finance Committee discussed having a plan for the meeting to increase success for the delivery of the material.
Ilene will presenting a bar chart for the revenue. Frank will complete one pie chart for FY23, one for FY24, discretionary spending, extended capital sheet, ARPA funds, Fire Company information, bar graphs for FY23 and FY24 for labor, and he will show the percentage in dollar increase at the bottom of the sheets. Frank recommended going from a capital to free cash chart to show how it is being spent. Ilene suggested defining the concept of free cash.
The Finance Committee discussed the lighting at the Community Center and the $29k that was awarded at a previous meeting to help with the lighting issue. Michele expressed concerns that sustainable options were not being considered. Ilene said that since the budget has increased for the Community Center there are now different considerations that need to be addressed. Ilene explained how agreeing to give funds to a department was an appropriation, but the Select Board could still mitigate or delay the release of those funds.
PREPARE FOR PUBLIC INFORMATION MEETING ON TUES 5/2/2023
The Finance Committee discussed having refreshments for the public meeting along with a large screen to help display information. The Finance Committee discussed charts that will be utilized to present the information. Michele reported that there are seven display items. The Finance Committee will tentatively meet on Wednesday 4/26/23 at 4pm to review their slides. The informational meeting will be held on 5/4/23 at 6pm.
REVIEW MEETING MINUTES AS AVAILABLE
The Finance Committee reviewed the minutes from 4/12/22. Michele made a motion to approve the minutes from 4/12/23 as amended. Frank seconded. Call a vote: Frank-yes, Ilene-yes, Michele-yes.
ANY OTHER UNFINISHED BUSINESS
Michele made a motion to adjourn the Finance Committee Meeting at 5:07pm. Frank seconded. Call a vote: Frank-yes, Ilene-yes, Michele-yes.
Documents used at the meeting
- Pie charts for upcoming informational session