HomeMy WebLinkAboutFCMeetingMinutes_03.04.10
TOWN OF NORTH ANDOVER
FINANCE COMMITTEE
Meeting Minutes
Meeting Date:2010
4 March
Meeting Location: Town Hall, First Floor Meeting Called to order: 6:40 PM
Conference Room
I. FinCom Members in Attendance
Mark Rodgers-MR, Chairman Ramsey Bahrawy -RB
X X
Peter Besen-PB, Vice Chairman Bonnie Wilkinson-BW
X X
Ben Osgood-BO Carlos Bielicki-CB
X
Jean Sullivan-JS Thom Dugan-TD
X
Alan LeBovidge-AL Herb Cunha-HC, Minutes
X X
Non FinCom Members in Attendance
OTHERS: Lyne Savage, LS-Town Accountant
Stan Limpert, SL-Vice Chair-School Committee
Mark Rees, MRees-Town Manager
Note: All FINCOM votes are subject to change upon receipt of new information.
I. Previous Minutes Approved
DATE: N/A
III. New Business
AGENDA ITEM: A. Informal Review of Warrant Articles
DiscussionMR: Mentioned zoning article submitted last year by Scott Hajjar regarding building a
-
drive-thru restaurant on Rt 114. ItÈs necessary to wait for planning board on this article.
MRees will check if zoning board has to review. Materials have been submitted to
include financials.
-AL: Article GG Televised Meetings. (needs to be assessed), -MRees: Indicated that itÈs
not feasible with current meeting schedules. BOS will write up this article.
.
AGENDA ITEM: B. Division of Write-ups of Articles
Discussion: Action Item: MR will add description column on Master Articles List which are
boiler plate articles and will assign Articles to FINCOM members.
AGENDA ITEM: C. Forecaster Review (Mark and Thom)
Discussion: -Since Thom was not able to attend meeting, this item will be discussed at next
meeting.
D. Facilities recap of Joe PiantedosiÈs presentation
AGENDA ITEM:
Discussion: -AL: He asked MRees how we would do Facilities and save money.
-MRees: Since we integrated IT, Payroll and Purchasing, then Facilities would be the
next big item to form a Facility Management Department. Some Towns include the
School Department in this responsibility. He mentioned two Options: A-
Energy/Custodial with respect to both School and Municipal costs. B- Building
maintenance, etc. Should be able to get $100k, and to begin a building working group
made up of members from Municipal side, School Department and community to
work on this. Thinking of moving towards Town Meeting to set aside $100k to hire
Facility Manager. He hopes that working group would complete there efforts by the
Fall, with possible hiring of manager in 2011. He agrees that we need to move forward
on this.
-MR: With reference to Facility Plan CIP, he asked MRees about plan for future use
(earlier discussed by Richard Nardella, BOS).
of
Bradstreet School
-MRees: He stated that we need an overall comprehensive plan for facilities.
-BW: She asked do we know what the School would be used for.
-MRees: Possibilities for the site are to sell, establish affordable housing, Special
Education, Arts Center or Senior Center.
E. Fin Com Discussion rules
AGENDA ITEM:
Discussion: -Rules discussion will be at next meeting.
AGENDA ITEM: F. New Business-UniBank Advisory Services
Discussion:
-MR: Handed out UniBank presentation to BOS regarding Credit Rating, and
David Eisenthal letter regarding Bonds, and related Financials. Mr. Eisenthal will
be getting back to BOS for Reserve versus Debt Cost.
-MRees: He received information on rating of A to A+, 20 basis points, $120k over
life of borrowing.
III. Old Business/Non-Agenda Items
NON-AGENDA ITEM: None
Discussion:
V. Adjournment
Motion: AL Yes Unanimous
Seconded: RB Time: 8:06 PM
IV. Next Meetings
Thursday, 9 Mar 2010 Town Hall, 6:30 PM
C=Complete
ACTION ITEMS
ITEM # ACTION ITEM INDIVID. COMPL. STATUS
DATE
1 Send out financial assumptions model, update with MR 19 Nov C
actuals, 2009 model
2 Contact Art. and Wellesley for their financial modelsMR 19 Nov
3 Check on website for financial forecasting documents PB 19 Nov
4 Contact M. Rees to invite Andover Facility Manager to MR 19 Nov C
come to North Andover
5 Email Rick Nardella, BOS, about vacant Bradstreet MR 19 Nov C
School for planned action
Revise forecast and CIP in analysis
6 MR/TD 7 Jan C
Bring binder with budget for BW to review
7 MR 7 Jan C
8 Convert minutes and Agenda to PDF format and sent MR/HC 11 Jan HC to format-C
to Peter for posting.
9 Email a request to Matthew Killen and Sch Comm. to MR 4 Feb
requote the IT proposal with alternative equipment and
also look for the same products at different vendors
with the intent of lowering the price of the project.
10 Provide a format for a position list, with columns such TD 25 Feb
as FTE levels, salaries, etc. He will send to MR and
MRees. Entries can then be made.
11 Prepare schedules for CIP Articles/voting A/R and MR 18 Feb
Department visitations to FINCOM.
12 Schedule a Warrant Article on contracts for a vote. MR 18 Feb
13 Send email to MRees and Bruce about possible MR 25 Feb
directing lower cost for Waverly Road project.
14 Add description column on Master Articles List which MR 9 Mar
are boiler plate articles and will assign Articles to
FINCOM members.