HomeMy WebLinkAboutFCMeetingMinutes_03.01.11
TOWN OF NORTH ANDOVER
FINANCE COMMITTEE
Meeting Minutes
Meeting Date March 1,2011
Meeting Location: Town Hall, First Floor Meeting called to order: 6:45 PM
Conference Room
Mark Rodgers-MR, Chairman Thom Dugan-TD
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Ramsey Bahrawy -RB, Vice Robert Norbedo-RN
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Chairman
Ben Osgood-BO Matthew Remis-MRem
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Alan LeBovidge-AL Herb Cunha-HC, Minutes
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Peter Besen-PB Pat Sifferlen, PS, Admin
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Bonnie Wilkinson-BW
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Non FinCom Members in Attendance
OTHERS: -Mark Rees-MRees, Joyce Bradshaw-JB,
Note: All FINCOM votes are subject to change upon receipt of new information.
Note: Documents used in this meeting are listed in Document Table, herein.
II. Previous Minutes Approved
DATE: No minutes to approve
III. New Business
AGENDA ITEM: A. Warrant timing Overview
th
Discussion: -JB No warrants will be mailed to houses. April 15 deadline for recommendations
th
and numbers. Final deadline April 29 would allow for printing needed for Town
Meeting. Also looking to spend $600 to put flyer in Spectrum magazine to notify
citizens of Town Meeting.
BW. Where does $600 come from?
JB. Already budgeted
AGENDA ITEM: B RFCC REVIEW OF THE HEALTH TRUST FUND
Discussion: -MRees. RFCC preliminary estimate of 10.5 million town funding based on current
information
Town budgeted 9.974 million not sure if BCBS came up with these figures based on
reimbursement from reinsurance policy.
Significant increase from fy10 to fy11 27% increase due to large claims 25 large claims
totaling 3.5 million dollars.
BW What happens if we have another bad year?
MRees: Still will have significant balance in trust fund after fy11 (1.8 million in trust
fund)
MR Will BCBS do an analysis behavior modification of employees.
MRees. BSBS has said that 2 million is preventable by living a healthier lifestyle and
also employees are entering health system through ER instead of Primary Care.
AGENDA ITME C POSSIBLE DISPOSITION OF UNSPEND CIP FUNDS
MRess original budget called for closeout of 368K in old projects. Lyne Savage pulled
a report with an itemization prior to FY11 of outstanding projects and 422k is the
outstanding balance. Contacted dept heads as to why they are still open and they
justified that 272k should remain open... Lyne has authority to close out less than 1K
without town meeting approval
Another 40k can be closed out but needs approval from town meeting.
Main street improvement funds have approx 88k remaining would like to reprogram
that money to Elm Street project improvements.
Reprogram of multipurpose tractor funds program has 108k balance would like to
reprogram to buy two Terex track loaders and attachments totaling 102k balance of
$6881. Can be closed out
Reprogram of Water system/water treatment plant and rename to Water Distribution
/WTP improvements. Balance left in old acct. would cover the six new projects.
AGENDA ITEM: D CIP 5% ANALYSIS REQUESTS
Discussion: -CIP with school green projects moved middle school roofing at 650k Sargent school
at 240K and Atkinson School window replacement at 1,700,000 to FY 12 Total
project cost w/o reimbursement or grants is 5,105,000 less grants and authorizations
and 46% Green school bldg grants total net borrowing of 2,582,636
Causing Debt service /net revenue to increase to 5.51% 6/10higher than what was
projected in original recommendations of 5.45%
CIP with 5% would fund 3 school projects ,roadway improvements , Elm street
projects would bring it to 5.13% all other projects would be moved to
Fy14to stay within the 5%
AGENDA ITEM: E. PROPOSED TOWN BUDGET DEPARTMENT OVERVIEW.
Discussion: -budget based on revenue (property tax excise tax) and state aid.
Take total revenues and subtract out non dept fixed costs and support service balance
left is for operating expenses.
First time this year support service is done this way.
MR this implies that they never get looked at.
MRees. Requires different way of looking at them.
AGENDA ITEM: F.NEW BUSINESS
Discussion: -
AGENDA ITEM: G.
Discussion: -
IV. Next Meetings
MARCH 3,2011
V. Adjournment-
Motion: AL Yes Unanimous
Seconded: RB Time: 8:50 PM
DOCUMENTS PROVIDED AT MEETING
TYPE FROM TO SUBJECT COMMENTS
ITEM #
1 Proposed warrant Joyce Bradshaw General
book. Time line
for warrant info
2 The health trust Town Manager RFCC review of The Health Trust
fund spreadsheet fund
3 Financial report CIP w/school green projects &
maintain 5% limit
4 Financial Report
5 Letter from Chief Response to Fin Com and Selectman
Stanley Questions on CIP
6 Town Manager FY2012 Budget General Fund
Recommendation
7
8
9
10
11
12
ACTION ITEMS C=Complete
ITEM ACTION ITEM INDIVID. COMPL. STATUS
# DATE
1-28 Completed items are shown in FINCOM Mtg C
Minutes of 4 Mar 2010 thru 28 Oct 2010 and 27 Jan
2011 for review.
30 Obtain copy of Osgood Landing sewer Budget from RB 17 Mar
c
Lenny Degnan Asst to Mayor of Lawrence.
32 Provide CD for New FINCOM member handbook. MR 16 Nov
33 Put on the Agenda, Minority Report and the MR 16 Nov
formation of a FINCOM Article Sub-Committee.
34 Input to Mark Rees 2 scenarios, First- 5% in 2013 MR/PB 3 Feb c
and Second-Otherwise scenario in 3 years.
35 Schedule GLSD discussion for 10-March MR c
meeting
36 MR c
Alert town dept heads that they
should come prepared to discuss
special revenue funds. Purpose of
fund, accountability, monitoring.
37 Verify and explain the 17.6% increase in the LS Inprogress
outside auditor expense for FY12
38
39
40
41
42
43
44
45
46
47
48