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Home My WebLink About2020-05-06 Finance Committee Minutes FinanceCommittee MinutesofMay6,2020 Present:ChairmanSashaWeinreich,EdwardMacMillan,JenniferBurns-Luz,ChristineAllen, KevinFoley,TimTschirhart Absent:CharlesTrafton,DivyaBhatnager,ThomasRingler ChairmanWeinreichcalledthemeetingtoorderat7:04PMviaconferencecall.Chairman WeinreichledthePledgeofAllegiance. ChairmanWeinreichthankedeveryoneforattendingandintroducedthecommittee’snewadmin, JillianBrothersduetotheretirementofAngelaCiofolo. DiscussionwithFinanceDirectorLyneSavage rd Ms.Savagediscussedthe3Quarterfinancials.Ms.Savagehighlightedareasasfollows: -Propertytaxcollectionslightlydownat73.7%comparedtolastyearat76.9%.Ms.Savage explaineditisatimingissueastowhenthingsarepostedfromlastyear. -Motorvehicleexcisetaxisdown67.8%thisyearcomparedto88.3%lastyear.Ms.Savage explainedthattherewereissuewiththeelectronicbillingfileandithadtobemailed. -Ambulancecollectionisat88.1%comparedtolastyear92.1% -Buildingcollectionfeeisat67.56%whichisinlicewithlastyear -Interestincomethisyearisat176.9%whichMs.Savageexplainedisupduetotheinvestment oftheTreasurer’sOffice -Localreceiptsareup98.4%comparedtolastyearat93.8% -Nodeclineinrevenuecollection -RealestatetaxesthroughAprilaredown2%comparedtolastyearbutMs.Savageexplained thattaxesaredueon5/1/20.Ms.SavagealsoexplainedthatBoardofSelectmenvotedtoextend paymentduedateuntil6/1/20butmosthavebeencollectedontime. ChairmanWeinreichaskedMs.SavageifmealstaxisstilltrackingforendofApril.Ms.Savage explainedthatshereceivesitquarterlyandtypically$145,000-$160,000andthisyearinorderto meetbudgetwillneed$112,000.ChairmanWeinreichaskedwastheextendedtaxdateforboth theresidentialandcommercial.Ms.Savageconfirmeditwasboth. Ms.SavagewantedtohighlightthattheFireDepartmentwillpotentiallyhaveanovertime problemdueto111FaswellasquarantinefromCOVID-19.Ms.,Savagestatedsheis monitoringitcurrently. Ms.SavagecontinueddiscussingtheEnterpriseFundsandSewerrevenues.Ms.Savage explainedthattherearenoissueswithcollections. Ms.SavagecoveredtheStevensEstatefinancialsexplainingthatthecollectionsareat37.3%and hasexpendituresof61.3%.Ms.Savageexplainedthatthisisduetothecrisisandseveral bookingshavebeencancelledwhichaffectrevenue.Ms.Savagewillcontinuetoreportinthe nextfewweekssincetheeventscannothappenatthistimewitheverythingshutdown. Ms.Savagecontinuetocoverananalysisofthelastfouryears.Ms.Savageexplainedthe allocationofthebudgetis70%ofSchooland29.76%Municipal.Ms.Savagerecommendednot tochangethebudgetinanywayandthattherearesafetymeasuresinplace.Ms.Savageadded thatsherecommendedtoBoardofSeletmenaMOUbetweentheTownManager,Boardof Selectmen,SchoolCommittee,SuperintendentandFinanceCommitteeoutliningpotentialfor revenueshortfallin2021howbudgetcutswouldbeallocated.ChairmanWeinreichagreedwith Ms.SavageforthelevelofcomfortofunderstandinghowitwillaffectboththeMunicipaland Schoolside.Mr.FoleyaskedMs.SavageifTownMeetingwillstillbeheldonJune16,2020. Ms.SavagerepliedthattheTownModeratorwillmakethatdecision.Mr.FoleyaskedMs. Savagewhennewemployeesareproposedinbudgethowsoonaretheybroughtonboard.Ms. SavageexplainedthatwillbeheldoffuntilSeptemberpossiblyandthatshedoesnothave controlontheSchoolside.Mr.FoleyaskedifMs.SavagewilldrafttheMOU.Ms.Savage explainedwillworkwiththeTownManageronit.ChairmanWeinreichexplainedtheSchool willgetbacktotheCommitteeatalatertime.Mr.FoleyaskedChairmanWeinreichiftheCIP planhasbeenvotedon.ChairmanWeinreichexplainedthattheyarewaitingafterTown Meetingandthereisnovoteatthismeeting.Ms.Savagerequestedanothermeetingintwo weekstogiveadditionalfinancialinformation.ChairmanWeinreichconfirmedthatanother meetingwillbeheld.Mr.TschirhartaskedMs.SavageifshelookedintoStateAid.Ms.Savage repliedthatthereisnoinformationthattherewillbeanyStateAidcuts.Mr.Tschirhartasked Ms.Savagewhentheteacher’scontractswillimpactthebudget.Ms.Savageexplainedthatshe isnotsurewhentheyexpire.Mr.Tschirhartaskedifthereisconsiderationdelayingorusing debttopayforcapitalimprovement.Ms.SavagefeltitwasbetteruseoffundstopayforCIPin 2021.ChairmanWeinreichaskedMs.SavageifsheandtheTownMangerwoulddiscuss Amazoninthenextmeeting. DiscussionofthedraftFinanceCommitteeWarrantLetter ChairmanWeinreichexplainedthatthebudgetshouldbepresentedasitstands.Ms.Allenasked ChairmanWeinreichhowtoaddresstheMOUinthewarrantandhowtobargaintheMOU. ChairmanWeinreichrecommendedwritingwarrantlettersandpartoftheexecutivesummary, theconclusionshouldhaveanMOUinplaceandwaittovoteuntilbeforeTownMeeting. ChairmanWeinreichaskedCommitteetosendtheirletterstoMs.AllenbySaturdayMay9, 2020. PublicComment ChairmanWeinreichmovedPublicCommenttolatertimetoallowmoretimeforemailstobe sent. OldBusiness -Amazon:CairmanWeinreichaskedtodraftarecommendationforTownMeeting -Non-disclosureAgreement:ChairmanWeinreichexplainedthattheBoardofSelectmenvoted onpersonnelpolicylastMondayaboutprovisionsinnon-disclosureagreementthatthereisno financialcompensationassociatedwithnon-disclosureagreementsgoingforward. ApprovalofApril8,2020Minutes Mr.MacMillanmotionedtoapproveminutesofApril8,2020.Ms.Allenseconded.Motion approved6-0. PublicComment ThomasDuggansentanemailtotheCommitteeaskedwhatthereferenceofMOUisabout. ChairmanWeinrechexplainedtheMOUistheMemorandaofUnderstandingandisa recommendationifwedonotachievebudgetthereisanoutlineofstepstobetaken. Mr.TschirhartsuggestedtoaskJimMealeyandSuperintendentGilligantocomeinandgivea briefingoftheirthoughtsandcontrollingtheirbudget.Mr.Foleyaskedtoconsideraskingthe TownModeratorabouttheTownMeetingdateatthenextFinanceCommitteemeeting. Mr.Allenmadeamotiontoadjournat8:02PM,secondedbyMr.MacMillan.Motionapproved 6-0.