HomeMy WebLinkAbout2022-10-19 Finance Committee Minutes`w:; or Ntap
f, Town of Reading
i Meeting Minutes
Board - Committee - Commission - Council:
Finance Committee
Date: 2022-10-19
Building: Reading Town Hall
Address: 16 Lowell Street
Purpose: General Business
Attendees: Members - Present:
Time: 7:00 PM
VE iD
TOWN CLERK
READING, MA.
fLIC
2023 JAN 19 AM 7:
Location:
Select Board Meeting Room
Session:
Open Session
Version:
Final
Chair Ed Ross, Vice Chair Jeanne Borawski, Joe Carnahan, Geoffrey Coram,
Marianne Downing, Joe McDonagh (remote), Emily Sisson, Mark Zarrow
(remote)
Members - Not Present:
Others Present:
Town Manager Fidel Maltez, Town Accountant Sharon Angstrom (remote),
Assistant Town Manager Jean Delos (remote)
Minutes Respectfully Submitted By: Jacquelyn LaVerde
Topics of Discussion:
This meeting was held in-person at Town Hall in the Select Board Meeting Room, and
remotely via Zoom.
Chair Ed Ross called the meeting to order at 7:00 pm.
Liaison Reports:
Marianne Downing shared that the Reading ARPA Advisory Committee (RAAC) completed Its
work on October Uffi. The Select Board should be taking their final votes at their meeting
on October 25"'. She noted the many things learned from all of the requests, and many
unmet needs of the Town.
Emily Sisson stated that she attended all of the Klllam School Building Committee meetings
and yesterday's Recreation Committee meeting. The pickleball community is fanning a
501c3 organization so that they can start fundraising to get pickleball courts built.
Vote on Recommendations/Guidance for FY24 Budget:
Town Accountant Sharon Angstrom shared that she expects Free Cash to be certified in time
for November Town Meeting, and estimates that it will be $19.8 million. She reviewed the
presentation shared at the Financial Forum, which Included figures using different amounts
of free cash, sources of revenue, sustainable and not -sustainable revenue, regeneration,
and past free cash use. Following a lengthy discussion, the Finance Committee agreed that
3.75% was an appropriate amount of Free Cash to use to support the upcoming budget.
On a motion by Jeanne Borawski, and seconded by Joe Carnahan, the Finance
Committee voted 8-0-0 to instruct the Town Accountant to move forward building
the FY24 budget using $3.28 million in Free Cash, which represents 3.75%
increase to the operating budget, with the assumption that $700,000 is directed at
extra Capital over and above the 5% minimum FINCOM policy.
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Roll Call Vote: Mark Zarrow - Yes, Joe McDonagh - Yes, Joe Carnahan - Yes,
Marianne Downing - Yes, Jeanne Borawski - Yes, Emily Sisson - Yes, Geoffrey
Coram - Yes, Ed Ross - Yes.
Vote on Warrant Articles for November Town Meetina:
Article 3: Amend the FY23 Capital Plan. Ms. Angstrom and Mr. Maltez reviewed proposed
changes to the current FY23 Capital Plan.
On a motion by Jeanne Borowski, and seconded by Marianne Downing, the Finance
Committee voted 8-0-0 to recommend Article 3 to Town Meeting as presented.
Roll call vote: Mark Zarrow - Yes, Joe McDonagh - Yes, Joe Carnahan - Yes,
Marianne Downing - Yes, Jeanne Borawski - Yes, Emily Sisson - Yes, Geoffrey
Coram - Yes, Ed Ross - Yes.
Finance Committee report to Town Meeting assigned to Mark Zarrow.
Article 4: Amend the FY23 Budget. Ms. Angstrom reviewed the proposed amendments to
the current FY23 budget.
On a motion by Jeanne Borawski, and seconded by Emily Sisson, the Finance
Committee voted 8-0-0 to recommend the subject matter of Article 4 to Town
Meeting.
Roll call vote: Mark Zarrow - Yes, Joe McDonagh - Yes, Joe Carnahan - Yes,
Marianne Downing - Yes, Jeanne Borawski - Yes, Emily Sisson - Yes, Geoffrey
Coram - Yes, Ed Ross - Yes.
Finance Committee report to Town Meeting assigned to Joe McDonagh.
Article 5: Prior Years' Bills. Mr. Maltez stated that the article will be tabled, as there are no
prior years' bills.
Article 6: Affordable Trust Fund. Mr. Maltez reviewed the instructional motion from April
Town Meeting to update the Affordable Housing Trust Fund. This article proposes to repeal
the special act approved in 2001, create a new affordable trust fund in accordance with
MGL, and adopt a new bylaw.
On a motion by Jeanne Borawski, and seconded by Joe Carnahan, the Finance
Committee voted 8-0-0 to recommend the substance of Article 6 as presented to
Town Meeting.
Roll call vote: Mark Zarrow - Yes, Joe McDonagh - Yes, Joe Carnahan - Yes,
Marianne Downing - Yes, Jeanne Borawski - Yes, Emily Sisson - Yes, Geoffrey
Coram - Yes, Ed Ross - Yes.
Finance Committee report to Town Meeting assigned to Joe Carnahan.
Ar : Ms. Angstrom requested that the Committee revote Article 3, to correct some
figures presented earlier in the meeting.
On a motion by Jeanne Borawski, and seconded by Emily Sisson, the Finance
Committee voted 8-0-0 to reconsider Article 3.
Roll call vote: Mark Zarrow - Yes, Joe McDonagh - Yes, Joe Carnahan - Yes,
Marianne Downing - Yes, Jeanne Borawski - Yes, Emily Sisson - Yes, Geoffrey
Coram - Yes, Ed Ross - Yes.
On a motion by Jeanne Borawski, and seconded by Emily Sisson, the Finance
Committee voted 8-0-0 to recommend the subject matter of Article 3 as presented
with corrections by Town Accountant Sharon Angstrom to Town Meeting.
Roll call vote: Mark Zarrow - Yes, Joe McDonagh - Yes, Joe Carnahan - Yes,
Marianne Downing - Yes, Jeanne Borawski - Yes, Emily Sisson - Yes, Geoffrey
Coram - Yes, Ed Ross - Yes.
Article 7: Feasibility Study for Killam Elementary School. Mr. Maltez reviewed the request
for $2.2 million from Free Cash to fund a feasibility study to build a new Killam Elementary
School, as voted on by the School Committee.
On a motion by Jeanne Borawski, and seconded by Marianne Downing, the Finance
Committee voted 8-0-0 to recommend the subject matter of Article 7 to Town
Meeting.
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Roll call vote: Mark Zarrow - Yes, Joe McDonagh - Yes, Joe Carnahan - Year
Marianne Downing - Yes, Jeanne Borawski - Yes, Emily Sisson - Yes, Geoffrey
Coram - Yes, Ed Ross - Yes.
Finance Committee report to Town Meeting assigned to Marianne Downing.
Article 9: Senior Tax Exemptions. This article renews the version approved in 2019.
On a motion by Jeanne Borawski, and seconded by Emily Sisson, the Finance
Committee voted 8-0-0 to recommend Article 9 to Town Meeting.
Roll call vote: Mark Zarrow - Yes, Joe McDonagh - Yes, Joe Carnahan - Yes,
Marianne Downing - Yes, Jeanne Borawski - Yes, Emily Sisson - Yes, Geoffrey
Coram - Yes, Ed Ross - Yes.
Finance Committee report to Town Meeting assigned to Jeanne Borawski.
Article 14: Upgrade water mains. Mr. Maltez explained that the article seeks approval for a
no -interest loan from the MWRA to upgrade water mains.
On a motion by Jeanne Borawski, and seconded by Joe McDonagh, the Finance
Committee voted B -O -O to recommend Article 14 to Town Meeting.
Roll call vote: Mark Zarrow - Yes, Joe McDonagh - Yes, Joe Carnahan - Yes,
Marianne Downing - Yes, Jeanne Borawski - Yes, Emily Sisson - Yes, Geoffrey
Coram - Yes, Ed Ross - Yes.
Finance Committee report to Town Meeting assigned to Emily Sisson.
Article 1S: Maillet Sommes Morgan stormwater project. Mr. Maltez stated that the Town
received a $2.1 million grant from the Municipal Vulnerability Preparedness (MVP) grant,
which requires a 25% match. The Town Is waiting to hear whether it will receive a federal
earmark toward the project. This article requests authorization to borrow $1 million for the
project.
On a motion by Jeanne Borawski, and seconded by Marianne Downing, the Finance
Committee voted 8-0-0 to recommend the subject matter of Article 15 to Town
Meeting as presented.
Roll call vote: Mark Zarrow - Yes, Joe McDonagh - Yes, Joe Carnahan - Yes,
Marianne Downing - Yes, Jeanne Borawski - Yes, Emily Sisson - Yes, Geoffrey
Coram - Yes, Ed Ross - Yes.
Finance Committee report to Town Meeting assigned to Geoffrey Coram.
Article 16: Haven Street design. This article seeks $750,000 to bring the design to 100%
completion for an Economic Development project to Improve Haven Street with wider
sidewalks, pedestrian lighting, and congregation space. Getting this approved enables the
Town to meet MBTA communities guidelines to qualify for MassWorks Grants.
Ms. Downing expressed concern about the timing on this article, as there are a lot of other
ongoing and upcoming development projects that may Impact this project after the design
is completed.
On a meeting by Jeanne Borawski, and seconded by Emily Sisson, the Finance
Committee voted 7-1-0 to recommend Article 16 to Town Meeting.
Roll call vote: Mark Zarrow, - Yes, Joe McDonagh - Yes, Joe Carnahan - Yes,
Marianne Downing - No, Jeanne Borawski - Yes, Emily Sisson - Yes, Geoffrey
Coram - Yes, Ed Ross - Yes.
Finance Committee report assigned to Ed Ross.
Article 17 for replacement of the Parker Middle School roof will be tabled, as it is no longer
needed.
Article 18: Smart Growth Stabilization Fund. There is currently $503,000 from funds
received from 2008 through 2015. This article seeks to transfer $414,000 from Free Cash
from funds received from Postmark Square, Ace Flats, Rise 475, and 14 Chapin Avenue
Smart Growth developments. The money from the Smart Growth Stabilization fund can be
used only for capital expenditures.
On a motion by Jeanne Borawski, and seconded by Joe Carnahan, the Finance
Committee voted 8-0-0 to recommend Article 18 to Town Meeting.
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Roll call vote: Mark Zarrow — Yes, Joe McDonagh — Yes, Joe Carnahan — Yes,
Marianne Downing — Yes, Jeanne Borawski — Yes, Emily Sisson — Yes, Geoffrey
Coram — Yes, Ed Ross — Yes.
Mr. Maltez explained that Article 19, for the purchase the former Walgreens property, and
Article 22, for Green Communities, are expected to be tabled by the Select Board and will
not be presented.
Financial Forum II and Future Meeting Agendas:
Topics that will be discussed at the upcoming Financial Forum include: RAAC
recommendations and summary of unfunded requests and other Town needs,
reimbursement rates for the Killam School, update on Reading Center for Active Living
Committee (ReCALC) study, and discussion on creating a Capital Improvement Committee.
Approve 9/21 Meetino Minutes:
Jeanne Borawski made a motion to approve the meeting minutes of September
21st, 2022, which was seconded by Ed Ross. Language indicating the RAAC was called
to order was stricken from the draft of the minutes, as RAAC was not posted, it could not be
called to order, and RAAC members present did not engage in RAAC relevant discussion.
On said motion, and duly seconded, the Finance Committee voted 8-0-0 to approve
the meeting minutes of September 2V, 2022 as amended.
On a motion by Emily Sisson, and seconded by Joe Carnahan, the Finance
Committee voted B -O -O to adjourn at 10:11 pm.
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