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Town of Reading-kECEIVED <br />TOWN CLERK <br />5 tl Meeting Minutes 1f -,M A <br />R;rAC7i-,10 <br />R.i< <br />2022 JUL 28 AM 8: 04 <br />Board - Committee - Commission - Council: <br />Finance Committee <br />Date: 2022-06-29 Time: 7:00 PM <br />Building: <br />Reading Town Hall <br />Location: Select Board Meeting Room <br />Address: <br />16 Lowell Street <br />Session: Open Session <br />Purpose: <br />General Business <br />Version: Final <br />Attendees: <br />Members - Present: <br />Chair Ed Ross, Joe Carnahan, Geoffrey Coram (remote), Joe McDonagh, <br />Marianne McLaughlin -Downing, Mark Zarrow, <br />Members - Not Present: <br />Vice Chair Jeanne Borawski, Eric Burkhart, Andrew Mclauchlan <br />Others Present: <br />Town Manager Fidel Maltez, Town Accountant Sharon Angstrom (remote), <br />DPW Director Jane Kinsella, Emily Sisson (remote), Jackie McCarthy <br />(remote), Karen Herrick (remote) <br />Minutes Respectfully Submitted By: Jacquelyn LaVerde <br />Topics of Discussion: <br />This meeting was held in-person in the Town Hall Select Board Meeting Room and remotely <br />via Zoom. <br />Chair Ed Ross called the meeting to order at 7:00 pm. <br />Welcome New Finance Committee Members: <br />Mr. Ross welcomed new members Joe Carnahan, who was appointed to a vacant seat and is <br />eligible to vote this evening, and Emily Sisson, whose term will begin on July 1n. <br />Vote on FINCOM Reserve Transfer Reguest: DPW Epuipment <br />Maintenance/Contract Repairs and Fuel: <br />DPW Director Jane Kinsella presented a request to transfer $50,000 from FINCOM reserves <br />to fund unforeseen shortages in the DPW budget. Additional funds needed Include: $18,000 <br />for electrical cabinets; $10,000 for fuel; and $22,000 for large repairs, repairs that needed <br />to be outsourced, and increased equipment costs due to inflation. <br />A request was made to Town Meeting for $40,000 to replace an electrical cabinet, but the <br />actual cost was $43,000, $3,000 short of what was budgeted. Within days of Town <br />meeting, another electrical box was damaged in a hit and run accident. Insurance only <br />covered $25,000 of the replacement, and the Town had to make up the difference of <br />$15,000. Since then, assets were reviewed and if it happens again, the Town will have <br />better coverage. <br />Several repairs had to be outsourced due to losing two mechanics. But DPW has since hired <br />a mechanic. <br />Gage 1 1 <br />