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Home My WebLink About2017-09-12 Finance Committee Minutes TOWN OF NORTH ANDOVER FINANCE COMMITTEE Meeting Minutes Meeting Date September 12, 2017 Meeting Location: School Administration Building, 566 Main Street Timothy Tschirhart, TT, Chairman X Ed MacMillian EM X Jennifer Goldman, JG, Vice Chair X Divya Bhatnagar, DB X Karin Blake, KB X Charles Trafton CT X Thomas Ringler, TR X Angela Ciofolo, AC X Liz Gerron, LG Sasha Weinreich, SW X 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. Call to order 6:51 JG: I would like to start the Meeting and to thank Ed MacMillian and Charles Trafton (Chuck) for accepting the appointment. Election of Chair Discussion starts on or about 6:52 pm/000:40 on video time JG: I am going to ask for nominations for the Chair KB: I would like to nominate Timothy Tschirhart (TT) for Chair DB: I second JG: Are there any other nominations for Chair (no other nominations given) All were in favor of TT being the Chairman of the Finance Committee TT: Thank you TT: As first act as Chairman I would like to take nominations for Vice Chair TT: I would like to nominate Jennifer Goldman (JG) as Vice Chair KB: Second All were in favor of JG being the Vice Chairman of the Finance Committee TT: Spoke to the new members of the Finance Committee and how they work as a Committee. We are not stiff and formal and stated that their real agenda as a Finance Committee is the financial protection of the Town. 1 September 12, 2017 TT: Commented that what is on his agenda this year is to get in front of the budget process (it is already running) TT: Stated that Andrew has done a wonderful job with facilitating the Financials and Operations of this Town. They already have an idea of where the numbers are going to be and are pretty well set, but I would like to think (especially with the years of experience we have on this Board) that the Finance Committee may have a way of saying let’s talk about this. We are an advisory board and we do have some say, and we would like to be part of that budgeting process, if we want to shift money and to give our words of wisdom and to explain why. CT: Inquired about the budgeting process, the calendar and timeline for when it is proposed and approved, is it annual? TT: It is annual, and it is spelled out in Town Charter and gave CT an explanation. Basically around November there is a policy written and adopted by Selectman on what the budget is going to be (Budget Policy). KB: Interjected by stating, their Budget Policy, is a statement on what they intend to do (Selectmen), KB: Went on to say, the Finance Committee does not make policies. We look at proposals, numbers and the impact on the Town and do the best we can with those numbers. TT: Continued to speak of the Budget and what it is comprised of; Operating Budget, the 5 year Capital Improvement Plan (CIP) or forecast (the first year is usually set in concrete), and the Debt. TT: Also spoke of the school budget, it is roughly about 2/3 of the budget. Review of Finance Committee Policies Discussion starts on or about 7:02 pm/010:50 on video time TT: spoke of the Finance Committee Policies and Procedures and requested that everyone reads the policies and procedures in order that we can vote on adopting, changing, or adding to the Finance Committee Policies and Procedures at the next meeting. The committee spoke of a number of various topics relating to policy such as Remote Participation, Absences, Breaking the Rule along with other items stated in the policy. Also the members spoke of the Finance Committee Report that they submitted for Town Meeting (May 16, 2017 Meeting). TT: Stated that he will like to start this exercise of this Finance Committee Report this fall, so they are not pressed for time in submitting the report on time, like they have in the past. 2 September 12, 2017 Selection of Representative to OPEB Committee (other post-employment benefits) Discussion starts on or about 7:24 pm/032:47 on video time TT: It is now 107 million dollars, I expected it was going to stay between 85-87 million and commented that he wants to understand what happened and why. It came as a shock to some of us. JG: We need to focus on picking someone to be on the OPEB Committee. TT: Selectman, Chris Nobile is a member of the OPEB Committee. JG: We also want to know the level of commitment for these meetings. CT: Commented based on his background and knowledge he may want to do this (join the OPEB Committee), because this is a topic and area he knows something about. But would like to know more about the Committee TT: Replied that he will talk to Chris Nobile (Chairing the OPEB Committee) and get more information. Proposed Topics for FY18 Additional Research Discussion starts on or about 7:42 pm/050:34 on video time JG: Let’s discuss and keep our focus on important topics this year. TT: Commented on various items such as the Operating Budget, School Budget, Capital, Debt Services, and our last Town Meeting( May 2017). TT: Also spoke of the possibilities of a special Town Meeting on the marijuana issue in November. I want a realistic business model and time frame The Board spoke of all the different topics that could be focused on and talked about. They ended up agreeing on; 1. Osgood Landing/revenue indirect expenses on town project 2. School Projection Plan (5 years) 3. Master Plan/revenue growth Review of FY18 Finance Committee Report and Recommendations Discussion starts on or about 8:09 pm/001:19 on video time TT: Everyone should have access to the Finance Committee report and asked everyone to review this document before the next meeting TT Commented on the hot topic items that were contained in the report, such as Staffing and Compensation, Reserve Funds, Capital Improvement Plan (CIP), Enterprise Funds, and the School Budget (Department). Those hot topics are the main components of last year’s letter and these are the components I 3 September 12, 2017 would like to assign responsibilities for those segments (hot topics). JG: Can we talk about this letter and assigning sections/segments at the next two meetings? TT: I do not want this letter to be any longer than 9 pages. Scheduling of Fall 2017 Meetings Discussion starts on or about 8:14 pm/001:23 on video time The Committee discussed the best day for the next meeting as well as future meetings. Approval of Minutes Discussion starts on or about 8:19 pm/001:28 on video time May 4, 2017 JG: Made a motion to approve Minutes as written DB: Second the motion All in favor (those that attended that meeting) May 15, 2017 KB: Made a motion to move to approve Minutes as amended (on page 2) where it states; “KB: We need to recognize that it does and the Financial Impact on the Town. It should be amended to read KB: “We need to recognize that it has Financial Impact on the Town”. JG: Second the motion (as ammended) All in favor (those that attended that meeting) May 16, 2017 JG: Made a motion to approve Minutes as written KB: Second the motion All in favor New Business Discussion starts on or about 8:28 pm/001:33 on video time The Members spoke of who should be invited at the next meeting and what should be discussed. th It was decided that Wednesday, September 27 would be our next meeting. Public Comment There was no public hearing 4 September 12, 2017 8:37 PM Adjournment JG: made a motion to adjourn CT: Second the motion All in favor to adjourn Document Table **FY18 Finance Committee Report th * Agenda September 12 2017 th * Minutes for May 4, May 15, and May 16, 2017 * Finance Committee Policies and Procedures **Stevens Memorial Library Strategic Plan FY2018-FY2022 ------------------------------------------------------------------------------------ *Google Doc and Hard Copy **Hard Copy only --------------------------------------------------------------- 5 September 12, 2017