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HomeMy WebLinkAbout2021-04-27 Finance Committee Minutes Finance Committee Minutes of April 27, 2021 Present: Chairman Sasha Weinreich, Edward MacMillan, Christine Allen, Kevin Foley, Dustin Silk, Regina Kean, Thomas Ringler, Denevan O’Connell, Jennifer Burns-Luz Absent: None Non-Finance Committee Members: None Ms. Weinreich read a quick statement before the meeting started “Pursuant to Governor Baker’s March 12, 2020 Order Suspending Certain Provisions of the Open Meeting Law, G.L.c 30A, Section 18 and the Governor’s March 15, 2020 Order imposing strict limitation on the number of people that may gather in one place, this meeting of the North Andover Finance Committee will be conducted via remote participation to the greatest extent possible.” Ms. Weinreich called the meeting to order at 7:05PM via conference call. Ms. Weinreich led the Pledge of Allegiance. Public Comment No public comment. Discussion with Town Manager regarding potential sources of additional funds from Federal government or other sources Ms. Weinreich stated there were no additional correspondence from Lyne Savage or Town Manager Melissa Rodrigues. Mr. MacMillan commented that additional information would not help with the planning. Ms. Weinreich stated the need to know more for guidance before planning but it would not change the Finance Committee’s recommendations and have to proceed as the funds are unavailable since there is not enough information given. Discuss & Revise Warrant Letter as needed Ms. Weinreich stated the importance of this meeting is to make sure everyone is on the same page on each section of the Warrant Letter. Enterprise Summary: Ms. Weinreich recommended to come back to this section at the end. Municipal & Shared Expense Budget: Ms. Weinreich mentioned this is a reduced budget. Mr. Ringler asked if the budget is the admin side plus shared services for the Town. Ms. Weinreich made a comment to have the total clarified. Ms. Kean asked why the Health Department estimates are included. Ms. Weinreich suggested to revise the section. Mr. Ringler stated the last two paragraphs are confusing. Ms. Kean stated to keep the paragraph on the Community Support Coordinator. Ms. Weinreich made notes for the revisions as discussed. School Department Budget: Ms. Kean mentioned that she will put a note mentioning the percent increase as suggested. Ms. Kean stated she will add a column to state the percentage. Mr. Ringler stated the concern about having it made in one voice. Ms. Weinreich made a note to check it. Mr. Foley mentioned he would take a look at the wording. Ms. Weinreich mentioned that the School Department will be giving a presentation to the School Committee about the use of the $2.6 million. Ms. Weinreich asked the School Department to also present to the Finance Committee. Ms. Weinreich suggested to add the appropriation to the end of the section of the School Department Budget. OPEB: Mr. O’Connell explained the section. Mr. O’Connell stated he was waiting for Lyne Savage to get back to him on the percentages. Mr. MacMillan asked to add in the unfunded liability. Ms. Weinreich mentioned to add a sentence that as a community North Andover needs to be cognizant of the impact that new employees have on OPEB if North Andover does not prefund the liability. Reserves: Mr. Foley stated he agreed with the revisions that Ms. Weinreich made. Ms. Kean mentioned stating the goals for the funds, to give a benchmark. Ms. Weinreich mentioned moving the OPEB section out of the Reserves section and into the OPEB section. Ms. Kean mentioned adding a reserve policy statement. Capital Improvement Plan: Mr. Ringler explained the section. Ms. Weinreich mentioned adding in the explanation of the impact of the pandemic in the Executive Summary. Mr. Ringler mentioned to add the sentence that the current revenue will not cover what the Town is trying to achieve in the next 5 years. Ms. Weinreich also mentioned to note that at this rate it cannot be funded with the current revenue sources for any significant increases in school expenditures. Enterprise Funds: Ms. Weinreich asked Mr. MacMillan to update the combined Enterprise Funds budget from last year. Ms. Luz stated she would update with actual budget numbers for the Stevens Estate section. Ms. Kean mentioned the Stevens Estate section does not tell a story about the concern with the Estate. Ms. Kean suggested to mention the budget covers four months to run the Estate for the dates the events have been booked. Ms. Weinreich recommended to insert a few sentences explaining what the budget is covering and end with a few sentences to convey the Finance Committee looks forward to a resolution of the ongoing situation in order to protect the Town from unforeseen expenses currently unresolved. Mr. Ringler mentioned letting the Town know that the Stevens Estate is a large liability. Ms. Kean mentioned that statement that it is a liability needed to be stated in the letter. Ms. Luz stated she would revise this section. Ms. Weinreich asked for the revised sections to be emailed to her by the weekend. Old Business None. Approval of April 6, 2021 Minutes MOTION: Ms. Allen motioned to approve minutes of March 23, 2021. Mr. O’Connell seconded. Roll Call- MacMillan- yes, Allen- yes, Ringler- yes, Foley- yes, O’Connell- yes, Kean- yes, Luz- yes, Silk-yes, Weinreich- yes. Motion approved 9-0. Adjournment MOTION: Ms. Allen made a motion to adjourn at 8:17PM, seconded by Ms. Kean. Roll Call- MacMillan- yes, Allen- yes, Ringler- yes, Foley- yes, O’Connell- yes, Kean- yes, Luz- yes, Silk – yes, Weinreich- yes. Motion approved 9-0. Respectfully submitted, Jillian A. Brothers Executive Assistant