Finance Committee Meeting Minutes 4-26-2023
Minutes of the Finance Committee Meeting 4/26/2023
Meeting Date: Tuesday April 26, 2023
Meeting Opened at 4 pm
Finance Committee Members present: Ilene Marcus, Michele Miller, Frank Abbott
Finance Committee Members present remotely:
Other individuals present: Laurie McArthur (Office Assistant)
Other individuals present remotely:
Call to Order at 4 pm
AGENDA
FINISH ORGANIZING INFO SESSION FOR THURSDAY MAY 4 AT 6PM
Michele suggested changing the space of the informational session to the Library as opposed to the Town Hall. Frank discussed each of the categories he had listed on his charts. Frank identified each of the individual costs he had created line items for. The Finance Committee discussed the categories and where there were primarily consistencies and information regarding costs over FY23 and FY24. Michele said they start with revenue, then transition to non-discretionary during the informational session. Michele emphasized the importance of explaining the Capital Plan. The Finance Committee agreed that the Capital Plan should match the Warrant. Ilene suggested a disclaimer that explains the process that the Capital Plan must go through.
The Finance Committee discussed the Fire House funding for additional projects. Ilene explained what was learned from the phone call with Counsel regarding the appropriation of funds for the Fire Company and how the Select Board has the final say. Frank discussed how a new contract will have to be established with the Fire Company. The Finance Committee discussed appropriated, but not spent funding including: the shed, the money for the Fire Company, and the lighting for the Community Center. Frank reported that these funds are part of the general fund. The Finance Committee discussed conflicting views with how funds were appropriated and how there is no oversight over how said funds were allocated. Ilene said that it is crucial that the funds go through the proper approval process. Michele said that if the process occurred and the information was on the Warrant then the residents of the Town could have the opportunity to share their opinions.
The Finance Committee reviewed article 17 in the Warrant, which is contingent upon a new lease agreement. The Finance Committee discussed the Capital Plan data going out for three years. Ilene discussed the level of attachment to the commitment of the Capital Plan once it has been decided upon. The Finance Committee discussed the cyber security software, and questions that should be asked. Michele discussed the main points and emphasized the need to stick to the Capital Plan and whether or not a commitment has been made. Michele said they did not set a free cash or stabilization target. Ilene said they did an analysis and kept them within the same range they have been in past years. The Finance Committee discussed the concept of zero-based budgeting and clarified strategies utilized to start a zero-based budget.
CONSIDER MINUTES AS AVAILABLE
No minutes were reviewed at this meeting.
RESERVE FUND TRANSFERS AS REQUIRED
There was a request for an additional $95 for the Town Report. The Finance Committee unanimously agreed and signed the document.
There was a request for legal fees for $143.50. The Finance Committee unanimously agreed and signed the document.
There was a $295 request for Tax Collector’s bond renewal. The Finance Committee unanimously agreed and signed the document.
Documents used at the meeting:
- Town Report Reserve fund Transfer Request
- Legal fee request Reserve fund Transfer Request
- Tax Collector’s bond renewal Reserve fund Transfer Request.
- Charts reviewed at the meeting
Michele made a motion to adjourn the meeting at 4:55pm. Ilene-yes, Frank-yes, Michele-yes.