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Home My WebLink About2013-05-22 Finance Committee PacketI Af 1 11 Llll./ / W W W .1 V 0.4111SL110.. S V Y/ 1 0.� V J/ 1 \V 0.Ylll�lYlA_lYlV V lllls\i0.0 U V 1 Al 1J... Google search FINCOM Wednesday, May 22, 2013 at 7:30 PM Printer-Friend N Version Peer communities OPEB Library Building Project update New FINCOM member Recruitment Minutes - March 27, 2013 /U Ff J-Wv Z(o ri C&aNOnl CW Town of Reading, Massachusetts 16 Lowell Street, Reading, MA 01867 Website Disclaimer Virtual Towns & Schools Website W 5/1')/1() 1 0 PM Town of Reading Classification and Compensation Study Final Report THE TOWN OF READING FINAL REPORT COMPENSATION AND CLASSIFICATION STUDY NON -UNION POSITIONS RACHEL BROWN, C.C.P. Consultant STONE CONSULTING, INC. 5 West Mill Street, Suite 5 Medfield, MA 02052 T (508) 359 -9600 F (508) 359 -0190 rbrown@stoneconsult.com December, 2008 Market Survey The following communities were included in the compensation survey. Winchester and Wakefield were invited to participate but did not complete the survey. Andover Danvers Milton Stoneham Wilmington Bedford Dedham Natick Tewksbury Belmont Lynnfield North Andover Walpole Burlington Mansfield North Reading Westborough Canton Marshfield Shrewsbury Westford The following shows how these twenty -two communities compare on various statistics (gathered from the Department of Revenue site). Town 2006 Estimated US Census 1999 Income per Capita 2006 EQV/ 2006 US Census FY07 Operating Budget Andover 33,475 $ 41,133 $ 219,674 $ 128,185,806 Bedford 12,884 $ 39,212 $ 228,730 $ 66,891,045 Belmont 23,308 $ 42,485 $ 237,626 $ 93,646,969 Burlington 24,895 $ 30,732 $ 183,310 $ 91,015,104 Canton 21,772 $ 33,510 $ 201,375 $ 73,031,652 Danvers 25,833 $ 26,852 $ 175,737 $ 80,916,151 Dedham 23,615 $ 28,199 $ 180,509 $ 81,389,289 Lynnfield 11,443 $ 39,560 $ 221,975 $ 36,862,442 Mansfield 23,096 $ 27,441 $ 152,888 $ 75,980,346 Marshfield 24,836 $ 28,768 $ 192,745 $ 82,224,334 Milton 25,902 $ 37,138 $ 189,903 $ 80,251,632 Natick 31,866 $ 36,358 $ 204,555 $ 111,634,235 North Reading 13,950 $ 30,902 $ 192,633 $ 51,262,020 North Andover 27,196 $ 34,335 $ 170,943 $ 81,968,147 Shrewsbury 33,262 $ 31,570 $ 151,584 $ 89,449,668 Stoneham 21,471 $ 27,599 $ 155,855 $ 61,168,681 Tewksbury 29,418 $ 27,031 $ 148,385 $ 83,935,864 Walpole 23,165 $ 32,117 $ 175,837 $ 71,349,114 Westborough 18,634 $ 35,063 $ 200,723 $ 78,370,207 Westford 21,507 $ 37,979 $ 182,453 $ 84,756,538 Wilmington 21,525 $ 25,835 $ 173,469 $ 68,764,351 Town 2006 Estimated US Census 1999 Income per Capita 2006 EQV/ 2006 US Census FY07 Operating Budget Averages: 23,372 $ 33,200 $187,733 $ 79,481,949 25th Percentile 21,498 $ 28,049 $ 171,143 $ 70,702,923 50th Percentile 27,587 $ 39,422 $ 221,091 $ 81,152,720 75th Percentile 25,850 $37,348 $ 202,170 $ 85,929,821 Reading 23,086 $ 32,888 $ 171,209 $ 81,947,780 These were the same communities that participated in the Reading School Department survey. The Town of Reading compares favorably to the average of the demographics, with the exception that Reading's Equalized Property Valuation divided by census best reflects the 25th percentile of those communities surveyed. #20 TOWN OF READING Non -Union School Positions Assistant Superintendent of Schools Director of Finance and Human Resources High School Principal High School Assistant Principal Middle School Principal Middle School Assistant Principal Elementary School Principal Director of Facilities Assistant Director of Facilities Director of Food Services Network Administrator Computer Technician Director of Pupil Services Administrative Assistant 0 FY 2013 TOWN OF READING CLASSIFICATION PLAN Schedule A -1 Approved by BOS 6 -5 -12 Parking Enforcement A Van Driver Library Technician Officer B lClerk Senior Library Technician C Administrative Secretary Senior Library Associate Permits & Licensing Coordinator of Senior Center Community Outreach Recreation Program D jAdministrative Assistant Coordinator Volunteers Veteran's Service Officer Coordinator Animal Control Officer PW Coord. Coordinator E Social Worker Librarian Assistant Collector Assistant Treasurer Assistant Appraiser Assistant Town Clerk Conservation Assistant Building Administrator Inspector Health Inspector Staff Planner Plumbing/Gas Inspector Wiring Inspector F Retirement Bd Head Public Safety Office MaWer Admin/Assl Town Acct Technician Dispatcher Division Head- Division Head - Children's Division Head- Division Head - Technical G Public Health Nurse Nurse Advocate Circulation Services Information Services Services Elder/Human Services Police Business DPW Business H Administrator Assistant Library Director Town Clerk GIS Coordinator Adminstrator Administrator Recreation Administrator Public Health Human Resources Forestry, Park & Higbway/Equipment I Administrator Administrator Project Director Cemetary Supervisor Su rvisor Water /Sewer Supervisor Water Quality Supervisor J IBuilding Inspefor Apprasier Network Administrator Database Administrator Treasurer /Collector K I Library Director Town Engineer Community Services Asst Town Mgr / L Director/Town Planner Town Accountant Finance Director M Fire Chief Police Chief DPW Director Approved by BOS 6 -5 -12 FY 2013 TOWN OF READING COMPENSATION PLAN Schedule B -1 2% increase over FY12) ANNUAL (based on a 37.5 hr workweek) Gradel Step 1 Step 2 Step 3 Step 4 Step 5 Step 6 Step 7 Step 8 Step 9 Step 10 Step 11 Step 12 A $ 30,050 $ 30,635 $ 31,259 $ 31,883 $ 32,526 $ 33,170 $ 33,833 $ 34,515 $ 35,198 $ 35,900 $ 36,621 $ 37,362 B $ 33,053 $ 33,716 $ 34,379 $ 35,061 $ 35,763 $ 36,485 $ 37,226 $ 37,967 $ 38,727 $ 39,488 $ 40,287 $ 41,087 C $ 36,348 $ 37,070 $ 37,811 $ 38,571 $ 39,351 $ 40,131 $ 40,931 $ 41,750 $ 42,588 $ 43,446 $ 44,304 $ 45,182 D $ 39,995 $ 40,794 $ 41,594 $ 42,432 $ 43,290 $ 44,148 $ 45,026 $ 45,942 $ 46,859 $ 47,795 $ 48,750 $ 49,725 E $ 43,992 $ 44,870 $ 45,767 $ 46,683 $ 47,619 $ 48,555 $ 49,530 $ 50,525 $ 51,539 $ 52,572 $ 53,625 $ 54,698 F $ 48,380 $ 49,355 $ 50,330 $ 51,344 $ 52,358 $ 53,411 $ 54,483 $ 55,575 $ 56,687 $ 57,818 $ 58,988 $ 60,177 G $ 53,216 $ 54,288 $ 55,380 $ 56,472 $ 57,603 $ 58,754 $ 59,943 $ 61,133 $ 62,361 $ 63,609 $ 64,877 $ 66,183 H $ 58,539 $ 59,709 $ 60,918 $ 62,127 $ 63,375 $ 64,643 $ 65,930 $ 67,256 $ 68,601 $ 69,966 $ 71,370 $ 72,794 1 $ 64,409 $ 65,696 $ 67,002 $ 68,348 $ 69,713 $ 71,097 $ 72,521 $ 73,983 $ 75,446 $ 76,967 $ 78,507 $ 80,087 J $ 70,844 $ 72,248 $ 73,710 $ 75,173 $ 76,674 $ 78,215 $ 79,775 $ 81,374 $ 82,992 $ 84,669 $ 86,366 $ 88,101 K $ 77,922 $ 79,482 $ 81,081 $ 82,700 $ 84,338 $ 86,034 $ 87,750 $ 89,505 $ 91,299 $ 93,132 $ 94,985 $ 96,876 L. $ 85,722 $ 87,438 $ 89,174 $ 90,968 $ 92,781 $ 94,634 $ 96,525 $ 98,456 $ 100,425 $ 102,434 $ 104,481 $ 106,568 M 1 $ 94,283 $ 96,174 $ 98,105 $ 100,055 $ 102,063 $ 104,111 $ 106,178 $ 108,303 $ 110,468 $ 112,691 $ 114,933 $ 117,234 HOURLY Grade Step i Step 2 Step 3 Step 4 Step 5 Step 6 Step 7 Step 8 Step 9 Step 10 Step 11 Step 12 A 15.41 15.71 16.03 16.35 16.68 17.01 17.35 17.70 WAS 18.41 18.78 19.16 B 16.95 17.29 17.63 17.98 18.34 18.71 19.09 19.47 19.86 20.25 20.66 21.07 C 18.64 19.01 19.39 19.78 20.18 20.58 20.99 21.41 21.84 22.28 22.72 23.17 D 20.51 20.92 21.33 21.76 22.20 22.64 23.09 23.56 24.03 24.51 25.00 25.50 E 22.56 23.01 23.47 23.94 24.42 24.90 25.40 25.91 26.43 26.96 27.50 28.05 F 24.81 25.31 25.81 26.33 26.85 27.39 27.94 28.50 29.07 29.65 30.25 30.86 G 27.29 27.84 28.40 28.96 29.54 30.13 30.74 31.35 31.98 32.62 33.27 33.94 H 30.02 30.62 31.24 31.86 32.50 33.15 33.81 34.49 35.18 35.88 36.60 37.33 1 33.03 33.69 34.36 35.05 35.75 36.46 37.19 37.94 38.69 39.47 40.26 41.07 J 36.33 37.05 37.80 38.55 39.32 40.11 40.91 41.73 42.56 43.42 44.29 45.18 K 39.96 40.76 41.58 42.41 43.25 44.12 45.00 45.90 46.82 47.76 48.71 49.68 L. 43.96 44.84 45.73 46.65 47.58 48.53 49.50 50.49 51.50 52.53 53.58 54.65 M I 48.35 49.32 50.31 51.31 52.34 53.39 54.45 55.54 56.65 57.79 58.94 60.12 Approved by BOS 6 -5 -12 DRAFT Policy on Funding Other Post Employment Benefits (OPEB) Finance Committee June 2012 The Finance Committee ( FINCOM) of the Town of Reading hereby establishes and adopts a Policy establishing a minimum target for annual OPEB funding in both the General and Enterprise funds (as defined below). Further, the FINCOM recognizes that circumstances may occur which would require the FINCOM to raise or lower this minimum from time to time. The FINCOM recognizes that the financial health of the Town of Reading is of paramount importance to its residents who receive essential services; to its bondholders who provide funding for long -term Town projects; to its vendors who provide services and equipment to the Town; and to its current and retired employees. This Policy on OPEB funding is designed to protect the community from a) the near - term budget impact of a sudden change in law that would require such funding; and b) the longer -term need to reduce a large liability. Health Insurance Premiums are defined as the best estimate from the Town's financial staff by early November of the cost of the Town's share of employee and retiree premiums for the following fiscal year. General Fund OPEB contribution: Not less than 5% of the estimated premium costs for employees and retirees covered by the general fund will be set aside in the following fiscal year as a preliminary OPEB contribution. It is expected that the estimate will be improved by mid - February when final premium rates are released. The preliminary OPEB contribution may be then adjusted higher or lower when final premium rates vary from the initial estimate. This policy will help cushion the budget process from any late adverse impacts of changes to health insurance premiums. Enterprise Funds OPEB contribution: These funds are expected to fully fund the OPEB liability annually, according to an actuarial schedule agreed to by the Town's financial staff, and a funding term not to exceed thirty years. 11— Vl lva —ru - 1 "--1 VV1111111LLli -f 7 lull/. // W W W. lUallHigilld .gUV /ragUb /11CLtUBIgIVIlt EA.Vllllll/lulattl:C Google Search 1 t iMC I M', ?00-9 Finance Committee Printer - Friendly Version Contact: Robert W. LeLacheur. Jr. CFA David Greenfield Assistant Town Manager, Finance Barry Berman Director Jeffrey Perkins Send email to the FINCOM Address: Town Hall Mark Dockser 16 Lowell Street Paul McNeice Reading, MA 01867 Phone: 781 - 942 -6636 Fax: 781 - 942 -9037 Hours: Monday 7:30am- 5:30pm Tuesday 7:30am- 7:OOpm Wednesday 7:30am- 5:30pm Thursday 7:30am- 5:30pm Friday CLOSED Meetina Packets Additional Links: Current Meetina Schedule Mission Statement FY13 Budaet FY10 Budget Finance Department Members Meeting Minutes Revenue Ideas FINCOM Cash Reserves Pollcy FY12 Budget FY09 Budget Cost - cutting Efforts FINCOM Debt/Ca0tal Policy FY11 Budget FY08 Budaet Name Title Tenn Ends (Began) David Greenfield Chair 2014 (2005) Barry Berman Vice Chair 2014 (2007) Jeffrey Perkins 2015 Jeanne Borawski 2015 (2012) Mark Dockser 2013 (2010) Paul McNeice 2013 Karen Herrick 2015 (2013) Paula Perry 2014 (2010) Hal Torman 2013 (2004) FINANCE COMMITTEE Term: Three years Appointing Authority: Finance Committee Appointment Committee Number of Members: Nine Members to be appointed to no more than three consecutive terms Meetings: Once a month except during budget season when the committee usually meets once or twice �} �.Y C/')7 /7n 11 '1.1 A n11d ..... .., ..................b .......................... 0 of 7 u« Y.i twww. icauui6iva.r,vviragcaimcauuir,ivu -� Un-IViiuiuiuiatikoc each week Authority: Reading Charter Adopted March 24, 1986 Purpose: The Finance Committee -shall have all the powers and duties granted to Finance Committees under the laws of the Commonwealth, Town Bylaws, Town Meeting vote and other applicable laws. In addition to these powers the Finance Committee shall have the power to investigate the books, accounts, records and management of any office board or committee in Town and may use agents in carrying out such investigations. The Finance Committee shall report its findings approval or disapproval on all articles which involve the expenditure of funds in the warrant in writing at least seven (7) days before Town Meeting. Such a report shall not preclude further action or reconsideration by the Finance Committee. Town of Reading, Massachusetts 16 Lowell Street, Reading, MA 01867 Website Disclaimer Virtual Towns & Schools Website G/77/^1n12 2.7A nA4 Finance Committee Meeting March 27, 2013 The meeting convened at 7:30 p.m. in the Conference Room, 16 Lowell Street, Reading, Massachusetts. Present were Chairman David Greenfield, Vice Chairman Barry Berman, FinCom members Jeanne Borawski, Jeffrey Perkins, Karen Herrick, Mark Dockser, Hal Torman, Paula Perry and Paul McNeice (arrived at 7:35), Town Manager Peter Hechenbleikner, Assistant Town Manager/Finance Director Bob LeLacheur, Fire Chief Greg Burns, Town Accountant Sharon Angstrom, Public Works Director Jeff Zager and Office Manager Paula Schena. Discussion and Vote — Annual Town Meeting Warrant Article 6 - Mr. LeLacheur noted that Public Works is requesting $250,000 for snow and ice which is $100,000 more than last week so the Finance Committee needs to revote Article 6. A motion by Greenfield seconded by Perkins to reconsider Article 6 was approved by a vote of 8 -0 -1 with McNeice abstaining. A motion by Greenfield seconded by Borawski to recommend the subject matter of Article 6 as amended was approved by a vote of 8 -0 -1 with McNeice abstaining. Article 13 — Mr. LeLacheur noted that this Article was a subject of Executive Session and approved by the Board of Selectmen last evening in Open Session. A motion by Greenfield seconded by Torman to recommend the subject matter of Article 13 in the amount of $72,000 to settle litigation was approved by a vote of 7 -0- 2. Article 11 — Mr. Greenfield asked the members if they had concerns about any line items before they start voting. Mr. Greenfield noted that his only concern is the downtown flower watering issue. The Town Manager indicated that the Economic Development Committee administers the DIET. They have started other programs that they want to continue such as the fagade improvement program. If they allocate money for watering flowers they won't be able to continue with these other programs. The Town Manager noted that the Board of Selectmen wants the Economic Development Committee doing more than watering flowers with the money. Mr. Greenfield suggested that FINCOM should ask the DIET to pay half of this $10, 000 cost in order to lower the Town's share, and to incept EDC to find flowers that require less watering. There was not sufficient support in FINCOM to make this change. A motion by Berman seconded by Dockser to recommend Line B99 Benefits in the amount of $13,565,050 was approved by a vote of 8 -0 -1 with Perkins abstaining. A motion by McNeice seconded by Berman to recommend Line C99 Capital in the amount of $2,098,000 was approved by a vote of 8 -0 -1 with Perkins abstaining. Finance Committee Minutes — March 27, 2013 — page 2 A motion by Perry seconded by Torman to recommend Line D99 Debt in the amount of $4,368,000 was approved by a vote of 8 -0 -1 with Perkins abstaining. A motion by Torman seconded by McNeice to recommend Line E99 Vocational Education in the amount of $341,250 was approved by a vote of 8 -0 -1 with Perkins abstaining. A motion by Dockser seconded by Herrick to recommend Line G91 Town Administration wages in the amount of $229,480 was approved by a vote of 8 -0 -1 with Perkins abstaining. A motion by Berman seconded by Herrick to recommend Line G92 Town Administration expenses in the amount of $518,250 was approved by a vote of 8 -0 -1 with Perkins abstaining. A motion by McNeice seconded by Perry to recommend Line H91 Accounting wages in the amount of $158,630 was approved by a vote of 8 -0 -1 with Perkins abstaining. A motion by Perry seconded by Torman to recommend Line H92 Accounting expenses in the amount of $2,300 was approved by a vote of 8 -0 -1 with Perkins abstaining. A_motion by Borawski seconded by Herrick to recommend Line I91 Finance wages in the amount of $1,062,100 was approved by a vote of 8 -0 -1 with Perkins abstaining. A motion by Torman seconded by Herrick to recommend Line I92 Finance expenses in the amount of $610,900 was approved by a vote of 8 -0 -1 with Perkins abstaining. A motion by Greenfield seconded by Dockser to recommend Line J92 FINCOM Reserves in the amount of $150,000 was approved by a vote of 8 -0 -1 with Perkins abstaining. A motion by Dockser seconded by Borawski to recommend Line K91 Community Services wages in the amount of $749,575 was approved by a vote of 9 -0 -0. A motion by Herrick seconded by Torman to recommend Line K92 Community Services expenses in the amount of $519,700 was approved by a vote of 9 -0 -0. A motion by Perry seconded by McNeice to recommend Line L91 Library wages in the amount of $1,040,442 was approved by a vote of 9 -0 -0. A motion by Perkins seconded by Herrick to recommend Line L92 Library expenses in the amount of $284,000 was approved by a vote of 9 -0 -0. �N� Finance Committee Minutes — March 27, 2013 — page 3 A motion by Greenfield seconded by Perkins to recommend Line M91 Public Works wages in the amount of $2,458,304 was approved by a vote of 9 -0 -0. A _motion by Dockser seconded by Herrick to recommend Line M92 Public Works expenses in the amount of $837,750 was approved by a vote of 9 -0 -0. A motion by Torman seconded by Perry to recommend Line M93 Public Works Snow & Ice in the amount of $625,000 was approved by a vote of 9 -0 -0. A motion by Perkins seconded by Herrick to recommend Line M94 Public Works Street Lights in the amount of $200,000 was approved by a vote of 9 -0 -0. A motion by Herrick seconded by Torman to recommend Line M95 Public Works Rubbish & Recycling in the amount of $1,490,000 was approved by a vote of 9 -0 -0. A_ motion by Perry seconded by Herrick to recommend Line N91 Public Safety wages in the amount of $8,477,625 was approved by a vote of 9 -0 -0. Paula Perry asked if in public safety if someone calls in sick do they have to call someone in to cover for them. The Town Manager indicated in Police they do not have to but in Fire they usually do. It is left to the discretion of the supervisor. A motion by Dockser seconded by Perkins to recommend Line N92 Public Safety expenses in the amount of $381,425 was approved by a vote of 9 -0 -0. Mark Dockser noted that the School Department wanted a different number. The Town Manager indicated that is because of Article 6 will be voted before Article 11. If the amount they are asking for in Article 6 is approved then the amount in line U99 will be $38,701,365. If Article 6 is not approved then Line U99 will be $250,001 more or $38,951, 366. A motion by Dockser seconded by Herrick to recommend Line U99 School Department in the amount of $38,701,365 based on the approval of Article 6 by Town Meeting; if Town Meeting does not approve the School Department modifications in Article 6 then FINCOM recommends Line U99 in the amount of $38,951,366. The motion was approved by a vote of 9 -0 -0. A motion by Torman seconded by Berman to recommend Line V99 Town Facilities in the amount of $704,633 was approved by a vote of 9 -0 -0. A motion by Perkins seconded by Borawski to recommend Line W99 Water Enterprise Fund in the amount of $5,011,529 was approved by a vote of 9 -0 -0. A motion by Greenfield seconded by Herrick to recommend Line X99 Sewer Enterprise Fund in the amount of $5,741,407 was approved by a vote of 9 -0 -0. Finance Committee Minutes — March 27, 2013 — page 4 A motion by Torman seconded by Perry to recommend Line Y99 Storm Water Enterprise Fund in the amount of $392,846 was approved by a vote of 9 -0 -0. Approval of Minutes A motion by Greenfield seconded by Dockser to approve the minutes of March 6, 2013 was approved by a vote of 9 -0 -0. A motion by Greenfield seconded by Herrick to approve the minutes of March 13, 2013 as amended was approved by a vote of 9 -0 -0. A motion by Greenfield seconded by Dockser to approve the minutes of March 20, 2013 was approved by a vote of 8 -0 -1 witb Berman abstaining. A motion by Dockser seconded by Torman to approve the Executive Session minutes of February 13, 2013 with the following changes: fourth paragraph add "space" after enough; and second page, third paragraph add "approved" after the word "is ". The motion was approved by a vote of 7 -0 -2 with Greenfield and Dockser abstaining. A motion by Dockser seconded by McNeice to approve the Executive Session minutes of March 20, 2013 with the change on the second page that Hal Torman was "Acting" Vice Chairman was approved by a vote of 6 -0 -3 with Berman, Greenfield and Perkins abstaining. A motion by Greenfield seconded by Herrick to adiourn the meeting at 9:00 p.m. was approved by a vote of 9 -0 -0. The Committee discussed the possibility of having a meeting in May and it was decided they would meet on May 22 "d Respectfully submitted, Secretary 0 1 1 LeLacheur, Bob From: DLS_Alerts @dor.state.ma.us Sent: Tuesday, May 21, 2013 9:01 AM To: LeLacheur, Bob Subject: Reminder: New Officials Finance Forum Sign Up Today for the DLS New Officials Finance Forum! The Department of Revenue's New Officials Finance Forum will be held on Thursday, June 6th at the College of the Holy Cross in Worcester. This course is for recently elected or appointed local municipal finance officials. With an emphasis on the basics, it's designed to foster a team approach to municipal finance by developing an understanding of the responsibilities of the various offices as well as their interrelationships. The day will begin with Deputy Commissioner Robert Nunes' opening remarks, an overview of the Division of Local Services and a presentation of ongoing stakeholder satisfaction efforts and initiatives. Topics presented during this day- long seminar will include an overview of municipal government, the budget process, the tax recapitulation process and reserve and debt policies. We encourage municipalities to forward this information to any and all new officials who would benefit from attending. Pre - registration is required. Please click the following for the agenda and the registration form. C15) NEW OFFICIALS FINANCE FORUM June 6, 2013 SESSION l; 9:00 — 9:30 Overview of Local Services Stakeholder Satisfaction 9:30 —10:00 Duties and Responsibilities 10:00 —10:45 Valuation 10:45 -11:00 ESSION II; 11:00 —11:45 Budget Process 11:45 —12:15 Proposition 2 '/2 12:15 — 12:45 Proposition 2 '/2 Exercise 12:45 -1:45 ESSION III; Robert G. Nunes, Deputy Commissioner and Director of Municipal Affairs Jim Crowley, Bureau of Municipal Finance Law Jim Paquette, Bureau of Local Assessment 1.1:11_1:1 Joe Markarian, Municipal Data Management/Technical Assistance John Gannon, Bureau of Municipal Finance Law LUNCH 1:45 — 2 :15 Reserves, Free Cash, Stabilization Kathy Reed, Bureau of Accounts Funds 2:15 — 2:45 Tax Rate Anthony Rassias, Bureau of Accounts 2:45 — 3:10 Tax Rate Exercise 3:10 — 3:15 Closing Remarks Dan Bertrand LeLacheur, Bob From: We4Greens <We4Greens @comcast.net> Sent: Sunday, May 19, 2013 8:48 PM To: LeLacheur, Bob Subject: FinCOm May 22 Agenda Follow Up Flag: Follow up Flag Status: Flagged Bob, Late but how does this look. 1. OPEB Discussion - Pros and Cons of establishing a formal funding policy the current budget funding amount for employees vs. retirees 2. Peer community comparison and potential plan to engage > 3& Explanation of "payment in lieu of taxes 4. New Fincom member recruitment 5. Update on Library efforts. V 6. Anything the town needs addressed? Restatement of the actual commitment and June meeting 1. Continue above discussions 2. Debt discussions and breakdown. Optimal level and peer comparison. Point at which rating agencies begin to have issues. 3. Water project - total and fees vs.. tax base impact to citizens 4. Discuss drafting a debt exclusion best practice 5. Ice Arena - Discuss revenue sharing arrangement and method of calculation 6. Any remaiing budget items or things the town needs. LeLacheur, Bob From: Schena, Paula Sent: Wednesday, May 22, 2013 3:16 PM To: LeLacheur, Bob Subject: FinCom Can you find out if Paul McNiece wants to be pointed and also if David Greenfield wants to be reappointed to the Audit Committee. Paula Schena Office Manager Town of Reading 16 Lowell Street Reading, MA 01867 Phone: 781 - 942 -6643 Fax: 781-942-9071 pschenaCcD-ci. reading. ma. us www.readingma.gov Town Hall Hours: Monday, Wednesday and Thursday - 7:30 a.m. - 5:30 p.m. Tuesday - 7:30 a.m. to 7:00 p.m. Friday - CLOSED Please let us know how we are doing - fill out our brief customer service survey at http:HreadinQma- survev.virtualtownhall. net/survev /sid /7c8844eb1 decd098/