HomeMy WebLinkAboutFCMeetingMinutes_04.19.11
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TOWN OF NORTH ANDOVER
FINANCE COMMITTEE
Meeting Minutes
Meeting Date:
April 19, 2011
Meeting Location: Town Hall, 1st Floor Meeting called to order: 6:49 PM
Conference Room
Mark Rodgers-MR, Chairman Thom Dugan-TD
X
Ramsey Bahrawy -RB, Vice Robert Norbedo-RN
X X
Chairman
Ben Osgood-BO Matthew Remis-MRem
X
Alan LeBovidge-AL Herb Cunha-HC, Minutes
Peter Besen-PB Pat Sifferlen, PS, Admin
X X
Bonnie Wilkinson-BW
Non FinCom Members in Attendance
OTHERS: S. Gleed Mark Rees (MRees) Stan Limpert ( SL) Jim Mealey (JM)
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 Article 17 (Bob Ercolini)
Discussion: No discussion made Mr Ercolini did not show up.
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AGENDA ITEM B: Warrant Article Write-up review
Discussion: Vote Taken: Motion by BO to have FINCOM accept write-ups on Warrant
Articles the same way we accept minutes Seconded by PB.
Vote: Y, unanimous, passed.
BO presented 3 article write-ups Article 20 Article 19 and Article 23
--
Article 20 write-ups approved as amended.
Article 19 write-ups approved as written.
AGENDA ITEM: C. Warrant Article votes
Discussion: MRees to discuss Enterprise Fund.
MR discussion on pg 1 looks like we are stockpiling 757k for current year and will be
adding 256k next year.
MRees we are in good shape with Water Retained Revenues. All based on
consumption had 2 yrs of decreases (FY9 and FY 10) significant impact on revenues.
MR Pg 2 electricity line big jump in cost do we have a contract with a rate lock? Or
did we install something new that would require that much more electricity.
MRees. I will find an answer for that.
Mrees provided update in expenses on Sewer Retained Earnings GLSD line FY 11
assessment was 1,642.900 projected now at 1,428,879. GLSD g
know about until after budget is put together impact is increase in retained earnings
from 103Kto 294k
MR reminded everyone that Fincom only votes on expense line
AGENDA ITEM: D Budget Discussion
Discussion: MR Recommended everyone to take a look at the Budget excel spreadsheet and start
to make their budget adjustments and recommendations
CIP discussion amending the proposal code B Fire alarm boxes and Panels MRees
discussed that the BOS approved 113K. buildings not in the proposed plan are the
Carl Thomas Hut NA Thrift Shop and the Bradstreet School
Vote Taken: Motion by BO to have FINCOM approve the changes to 113K 2nd
b PB Vote: Y(5) N 0 A 0, unanimous, passed.
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V. Adjournment-
Motion: PB Yes Unanimous
Seconded: RN Time: 8:14 PM
IV. Next Meetings
st
April 21 2011 Town Hall, 1 Floor Conference Room
TYPE FROM TO SUBJECT COMMENTS
ITEM #
1 Warrant article Ben Osgood Fincom
write ups
2 Enterprise Fund Mark Rees Fincom
Recommendations
3 CIP Fincom
Spreadsheet
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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 Degman, 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 and MR/PB 3 Feb c
Second-Otherwise scenario in 3 years.