Finance Committee Meeting Minutes 6/22/22
Finance Committee: 6.22.22
Attendees: M Miller, F Abbott: Finance, M Jervas, Public. Tom Menzie. M Noe
Agenda:
Reserve Fund Transfers Voted and Accepted. Missing Library Request. Reminder that all transfer requests be submitted through Town Administrator.
No minutes Available: 6/14 next week.
Begin Review of Capital Plan: 2-3 years out: Septic Report received. Only small repairs required.
FA: Begin by visiting Dept heads. Would site visit be in violation of OML Meeting Law?
Missing from Capital Plan:
MM: Should all Town Hall Items be grouped together? Are some Maintenance and deserving of a Special Article and some better presented as part of Capital Plan? What Role for ARPA Funds and/or Grant for Town Hall assessment by Melissa Noe. What is a repair or a capital investment? Ask Accountant. Add Maintenance line item? TA recommends Special Article. Finance Committee Manual for guidance.
Next Budget for 2024. Funding for all the Town Hall issues.
Stabilization could be set as a % of Revenue. Town did not add to Stabilization this year.
Revenue Projections: $5K for Accountant to produce report. Above and beyond our contracted functions.
Adjust Capital Plan to reflect combined Stabilization Funds
Library Dam: ? No Money appropriated. State involvement. Conservation and Historical considerations. 2012 FEMA money was spent somewhere else.
Rt 23 Culvert: estimated to cost 3.5 million of which we can expect to pay $750K if grant monies come through. Urgency: Past life expectancy, likelihood of major weather event. Review options. Small survey sample attempted to guage resident opinions.
Highway Dept Eqpt: Set our site visits. Timing: Ask Jim Hunt
Reside Town Shed: Some $ appropriated but funds insufficient and no vendors available to install.
The need for 3 Cruisers was raised? Rationale for it. FA: Underestimate costs. “placeholders”
MM: Why not do with 2 cruisers?
Joint Meeting to begin: Justin Makuc arrives. Switch to Go to Meeting for Joint. FC adjourns.