Finance Committee Meeting Minutes 5/30/2023
Finance Committee Meeting
Minutes of the Meeting 5/30/23
Meeting Date: Tuesday, May 30, 2023
Meeting opened at 5:30 pm at the Monterey community center.
Finance Committee Members Present: Frank Abbot, Jeff Zimmerman.
Other Individuals Present: none
Call to Order at 5:30 pm
Agenda
Update on Capital Plan and Application Standards
Discussion on Budget Spreadsheet and Options
Discussed priorities for the next year:
- Frank will recirculate and we will Approve Capital Policy and Work with the Selectboard to adopt and roll-out
- Plan to do some benchmarking budget cycles, reports, and analysis to plan calendars, and meeting dates, understand information and make timely decisions.
- Roll out Zero-based Budgeting, working with Town Administrator, Select Board, and departments
- Create a finance committee handbook for onboarding new members and structure for lead-time and budget cycle. (working with Town Administrator and Select Board)
Review and Adopt Minutes
Frank moved to accept the minutes, Jeff seconded, all in favor the minutes from 5/16 are approved.
Vote on Transfers as Presented
Unanimous to vote yes on all transfers of funds without any new appropriation. Agreed to track to understand the impact for budgeting.
New Business
- Process for appointing new members. Preference for full-time resident and votes in Monterey, MA.
- Meeting is scheduled for July 11 at 5:15 pm (when Jeff returns from month of travel)
Ilene made a motion to adjourn the meeting at 5:44 pm. Frank seconded. Call a vote, unanimous yes.
Documents used at the Meeting:
- May 16th Minutes