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HomeMy WebLinkAbout2014-09-03 Finance Committee MinutesTown of Reading Meeting Minutes RECEIVED iDWN CLERK EADING, MASS. Board - Committee - Commission - Council: Finance Committee 2014 SEP IS P 3: 36 Date: 2014 -09 -03 Time: 7:30 PM Building: Reading Town Hall Location: Conference Room Address: 16 Lowell Street Purpose: General Business Attendees: Members - Present: Chairman Mark Dockser, Vice Chair Paula Perry, FINCOM members Marc Moll, Paul McNeice, Karen Herrick, Peter Lydecker, Anne Landry, and Craig Merry. Members - Not Present: Others Present: Town Manager Bob LeLachuer and Administrative Secretary Caitlin Saunders. Minutes Respectfully Submitted By: Topics of Discussion: Chairman Mark Dockser called the meeting to order at 7:30 pm. Mr. Dockser stated the committee will be going over and voting on September Special Town Meeting Warrant Articles tonight. He mentioned one of the Articles the Board of Selectmen will be asking FINCOM to take a look at the RMLD's books. Mr. LeLacheur explained Article 3 will be asking for more money in September and November because of some changes to the Capital Improvements plan. He said the biggest change in the FY16 budget will be to take out $1 Million for the turf fields because they have had maintenance work done on them that will make them last longer than expected. Ms. Perry made a motion to accent Articles a second by Mr. MrNeice and approved with a vote of 8 -0 -0. Ms. Perry will report on this article to Town Meeting. Article 4 will be to declare an item from DPW as surplus so it can be sold. DPW has already replaced this item with a new one. Ms Herrick made a motion to accept Article 4 second by Mr. Merry and approved with a vote of 8 -0 -0. Ms. Herrick will report on this Article to Town Meeting. Article 5 would be to authorize debt that was never issued to be taken off the books. It was money that wasn't needed and so it does not need to be on the list anymore. Page 13 FINANCE COMMITTEE MINUTES 91312014 - PAGE 2 Mr. McNeice made a motion to accept article 5 second by Ms Landry and aooroved with a 8 -0 -0 vote. Mr. McNeice will report on this Article to Town Meeting. Article 6 is to transfer debt that was authorized and issued to another debt authorization. It was money that was not needed and can be transferred to certain other projects that may need it. The idea at the moment is to move this to the West Street project. If it is not needed there then it can be transferred again to a different project. Ms. Herrick made a motion to accept Article 8 second 4 and aooroved by a vote of 8 -0 -0. Mr. Merry will report on this article to Town Meeting. Article 7 is to authorize more debt for our water Infrastructure Improvements. These improvements will be done over the next 25+ years and this article will allow us to borrow an additional 3.5 Million to which we have already borrowed. Ms Perry made a motion to accept Article 7 second by Ms. Herrick and approved with a vote of 8 -0 -0. Mr. Moll will report to Town Meeting on this article. Article 8 is to amend the Towns Capital Budget. Line D99 for Debt service is because the West Street project has been delayed. G92 for Administration Services expenses is for legal expenses because the school is still in litigation after 8 years. Mr. LeLacheur stated most is being paid with state aid but we still need more money for that budget. Line W99 is a transfer of debt to move the Larch Lane project up a year. The group asked if there was any explanation or backup for the $75,000 needed for school technology and the $7,000 needed in emergency stone by DPW. Mr. LeL.acheur stated there was no backup for the $75,000 by the schools but he does have an email for the $7,000 in emergency stone, it is just not in the packet. Article 14 allows FINCOM to Investigate RMLD and take a look at their books. Right now FINCOM has no authority to do this because of the Charter. If this article passes, FINCOM discussed they will need outside help on this and should start thinking about how they can get some kind of report or findings together by the November Town Meeting. Ms Perry made a motion to accept Article 14 second by Ms Herrick and approved with an 8 -0 -0 vote. Mr. Dockser will report to Town Meeting on this article. Article 15 will fix the Charter so that FINCOM will have the authority to look over any financials and the books of RMLD if they would like and /or are asked to do so. Mr. McNeice made a motion to accept Article 15 second Illy .. aooroved with a 8 -0 -0 vote. Ms. Landry will report to Town Meeting with this article. Pape 1 2 FINANCE COMMITTEE MINUTES 9/3/2014 — PAGE 3 Mr. Dockser then asked the committee to brainstorm what they would like to accomplish at next week's financial forum and how to accomplish it. He reminded everyone that our state legislators will be there and it is a good time for us to ask them everything on our mind. The Financial Forum will start with a brief overview of the last forum and the budget, turn the Floor over to the legislators, and then proceed to ask them questions. Mr. Dockser asked the committee what questions they want to ask the legislatures. The committee indicated they would like to get ideas on more local aid, health care, and to see what's happening in other communities and even states. The committee expressed that they would like to put something in the newspaper advertising the forum and letting the community know that our legislators will be there and encouraging people to come. Ms. Herrick and Mr. LeLacheur then gave the committee an update on the Library project. They said the project is about one or two months behind projected spending pace. The temporary space is coming along quickly and the goal is to have the library only be closed for two weeks while moving, however three is more realistic and four weeks would not be surprising. There is a list of "alternates" which are not included in the budget and would need to be funded somehow if they are done. Ms. Herrick who is on the Library Building Committee said she will continue to update FINCOM as the project moves along. Ms Perry made a motion to accept the minutes from lulu 16th as written second by Ms. Herrick and approved with a vote of 8 -0 -0 Mr. McNeice made a motion to adiourn at 10:15am second by Ms Herrick and approved with an 8 -0 -0 vote. Respectfully submitted, Secretary [�k Page 1 3