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Home My WebLink About2023-03-29 Finance Committee Minutes Finance Committee Minutes of March 29, 2023 Present: , Vice Chair Christine Allen, Nancy Sarro, Keith Cheney, Regina Kean, Ken Gray Not Present: Brianna Stetson Present Non-Member: Finance Director Lyne Savage called the meeting to order at 7:00PM. The open session meeting was recorded in person in the Select Board Room at North Andover Town Hall 120 Main Street North Andover. PUBLIC HEARING MOTION: Mr. Cheney made a MOTION, seconded by Ms. Sarro, to open the public hearing. Motion approved 8-0. PUBLIC COMMENT Stan Limbert, 143 Stonecleve Rd., asked about the free cash and budgeting. Mr. Limpert asked if the Finance Committee thought about budgeting versus level of free cash. Mr. O'Connell responded that would like to keep at 5% when possible as explained by the Town Manager and Finance Director. Mr. Limpert asked about budget resilience in respect to if Merrimack College was to purchase Royal Crest and was to take off the tax role what was the resilience of the budget for this. Ms. Savage stated if something comes off of the tax roll it doesn't change the amount raised, it would get distributed among the town residents and commercial. Ms. Savage gave the example of Amazon coming on and the reduction the resid town rate. Ms. Savage stated it will not affect the budget rather the budget will be managed and planned accordingly. Mr. Limpet asked if the Finance Committee had thought about applying metrics to other town departments in a similar way as the School does. Mr. O'Connell stated some individuals have thought about applying it, but not as a committee as of yet. Ms. Kean mentioned when she was on the Select Board they did compared to other communities. Mr. O'Connell mentioned he would like to discuss this in the future. MOTION: Ms. Pastor made a MOTION, seconded by Mr. Cheney, to close the public hearing. Motion approved 8-0 VOTE on FY24 OPERATING BUDGET & ENTERPRISE FUNDS MOTION: Ms. Allen made a MOTION, seconded by Mr. Silk, to approve the FY24 Operating Budget and Enterprise Funds. Motion approved 8-0. VOTE ON FINANCIAL WARRANT ARTICLES FOR TOWN MEETING Article 18: Appropriation Capital Improvement Plan for Fiscal Year 2024 MOTION: Ms. Kean made a MOTION, seconded by Ms. Pastor, for Favorable Action on Article 18. Motion approved 8- 0. Article 19: Report of the Community Preservation Committee-Appropriation from Community Preservation Fund Ms. Allen stated concern with voting on all of the Community Preservation Committee projects. Ms. Allen stated the Restoration of Boundary Wall project and the Preservation of the Barn at 219 Johnson St. are two projects that are concerning if they should be included as favorable projects. Ms. Allen mentioned possibly more funds could go towards Affordable Housing instead. Ms. Kean also had concern with the cost benefit to the public with a wall that is not being seen as well as the barn restoration where the public wouldn't benefit from it. Ms. Sarro asked if the Community Preservation Committee needs to spend a certain amount per year. Ms. Kean stated it is a certain percentage per category. Ms. Savage explained it is 10% of the prior year review. Mr. O'Connell suggested to hold off voting on Article 19 to find out more information. Ms. Sarro asked for the Community Preservation Committee representative to come back to the next Finance Committee meeting. Article 20: Set Salaries and Compensation of Elected Officials MOTION: Ms. Kean made a MOTION, seconded by Ms. Sarro, for Favorable Action on Article 20. Motion approved 8- 0. Article 21: Revolving Fund Spending Limits MOTION: Ms. Kean made a MOTION, seconded by Ms. Allen, for Favorable Action on Article 21. Motion approved 8- 0. Article 22: Appropriation- General Fund for Fiscal Year 2024 MOTION: Ms. Kean made a MOTION, seconded by Mr. Cheney, for Favorable Action on Article 22. Motion approved 8-0. Article 23: Appropriation - Water Enterprise Fund for Fiscal Year 2024 MOTION: Mr. Silk made a MOTION, seconded by Mr. Cheney, for Favorable Action on Article 23. Motion approved 8- 0. Article 24: Appropriation - Sewer Enterprise Fund for Fiscal Year 2024 MOTION: Mr. Cheney made a MOTION, seconded by Ms. Sarro, for Favorable Action on Article 24. Motion approved 8-0. Article 25: Stevens Estate Special Purpose Revolving Fund MOTION: Ms. Pastor made a MOTION, seconded by Ms. Allen, for Favorable Action on Article 25. Motion approved 8- 0. Article 26: Transfer of funds not to exceed $480,000.00 from free cash to FY2023 General Fund MOTION: Ms. Kean made a MOTION, seconded by Ms. Pastor, for Favorable Action on Article 26. Motion approved 8- 0. Article 27: Transfer funds from overlay surplus to Fiscal Year 2024 General Fund MOTION: Ms. Kean made a MOTION, seconded by Ms. Allen, for Favorable Action on Article 27. Motion approved 8- 0. Article 28: Transfer to Stabilization MOTION: Mr. Graymade a MOTION, seconded by Ms. Kean,for Favorable Action on Article 28. Motion approved 8-0. Article 29: Transfer to Capital Stabilization MOTION: Ms. Pastor made a MOTION, seconded by Ms. Kean, for Favorable Action on Article 29. Motion approved 8-0. Article 30: Transfer to Public Works Capital Account for Rolling Stock MOTION: Ms. Sarro made a MOTION, seconded by Mr. Cheney, for Favorable Action on Article 30. Motion approved 8-0. DISCUSSION OF WARRANT LETTER thth Ms. Sarro asked if the due date was April 17. Ms. Pastor stated the draft is due April 6. Ms. Allen stated draft is now th needed by April 5. APPROVAL OF OPEN SESSION MINUTES FROM MARCH 20, 2023 MOTION: Mr. Gray made a MOTION, seconded by Mr. Cheney, to approve the Finance Committee open session meeting minutes of March 20, 2023. Motion approved 5-0-3. ADJOURNMENT MOTION: Ms. Kean made a MOTION, seconded by Mr. Cheney, to adjourn the Finance Committee meeting at 8:00 PM. Motion approved 8-0. Respectfully submitted, Jillian A. Brothers Executive Assistant Documents used at meeting: Warrant Articles Minutes