The URL can be used to link to this page

Home My WebLink About2025-02-26 Finance Committee Packet Town of Reading Meeting Posting with Agenda 2018-07-16LAG Board -Committee -Commission -Council: Finance Committee Date: 2025-02-26Time: 7:00PM Building: Reading Town Hall Location: Select Board Meeting Room Address: 16 Lowell StreetAgenda: Purpose:General Business Meeting Called By:Jacquelyn LaVerde on behalf of Chair Joe Carnahan Notices and agendas are to be posted 48 hours in advance of the meetings excluding Saturdays, Sundays and Legal Holid operation and make necessary arrangements to be sure your posting is made in an adequate amount of time. A listing of topics that the chair reasonably anticipates will be discussed at the meeting must be on the agenda. All Meeting Postings must be submitted in typed format; handwritten notices will notbe accepted. Topics of Discussion: This meeting will be held in the Select Board Meeting Room of Town Hall and remotely via Zoom: Join Zoom Meeting https://us06web.zoom.us/j/86372464653 Meeting ID: 863 7246 4653 One tap mobile +16465588656,,86372464653# US (New York) +16465189805,,86372464653# US (New York) Dial by your location Find your local number: https://us06web.zoom.us/u/kMJiLim9N AGENDA: Call to Order and Welcome Public Comment Liaison Reports School Department/School Committee Recommended FY26 Budget Presentation Future Agendas Discussion Approve Prior Meeting Minutes: October 30, 2024 This Agenda has been prepared in advance and represents a listing of topics that the chair reasonably anticipates will be discussed at the meeting. However the agenda does not necessarily include all matters which may be taken up at this meeting. Page | 1 wĻğķźƓŭ tǒĬƌźĭ {ĭŷƚƚƌƭ 82 Oakland Road Instilling a joy of learning and inspiring the innovative leaders of tomorrow Reading, MA 01867 Phone: 781-944-5800 Fax: 781-942-9149 TO:Reading FinanceCommittee FROM:Dr. Thomas Milaschewski,Superintendent DATE:February 24, 2025 RE:FY26School Committee Recommended Budget th During the February 26Finance Committee meeting, we will provide anoverview of the FY26budget. Over the last three years we have made significant investments in programming and staffing that have led directly to improved student outcomes and overall experience for our students.The School generally reflects a level-service budget. In a time when many local communities are struggling with difficult budget decisions and cuts, we are encouraged that this proposed budget will position us to maintain all current services and meet all contractual obligations. While generally a level- 1.ƩğƓƭźƷźƚƓ Ʒƚ ƓźǝĻƩƭğƌͲ ǒźƷźƚƓ CƩĻĻ YźƓķĻƩŭğƩƷĻƓʹIn 2020-2021, Reading was one of only 23 communities in Massachusetts to charge tuition for full-day kindergarten and had the second highest tuition in the state. In partnership with the School Committee and the Town of Reading, we developed a multi-yearplan to move towards universal tuition free kindergarten that included dropping the tuition each year since 2020-2021. We believe in the importance of ensuring that all families have access to a high-quality, accessible early childhood experience and are thrilled that this budget proposes universal, tuition free kindergarten for the start of the 2025-2026 school year. 2.Њ͵Љ C9 YźƓķĻƩŭğƩƷĻƓ ĻğĭŷĻƩʹOur current kindergarten projections reflect a significant increase in kindergarten enrollment when compared to recent years. This increase in enrollment would require the addition of a 1.0 FTE Kindergarten teacher to ensure we can maintain classes within appropriate class sizes. As the kindergarten registration process moves forward, it is possible that the actual kindergarten enrollment could end up being lower than these projections. However, it is important that we plan around these projections to ensure we are as prepared as possible to support our kindergarteners. Included in the packet you will find FY26 presentation.If you have any questions in advance of the presentation that you would like us to review or prepare, please reach out to Tom Milaschewski, Phil Littlehale, or Tom Wise.We are looking forward th to seeing you all on February 26. Town of Reading Meeting Minutes 2016-09-22 LAG Board -Committee -Commission -Council: Finance Committee Date: 2024-10-30Time: 7:00PM Building: Reading Public LibraryLocation: Conference Room Address: 64 Middlesex AvenueSession: Open Session Purpose: Financial ForumVersion: Draft Attendees:Members -Present: Chair Joe Carnahan, Vice Chair Marianne McLaughlin-Downing, Geoffrey Coram, Endri Kume, Joe McDonagh, Emily Sisson (remote), John Sullivan, Mark Zarrow Members -Not Present: Ed Ross Others Present: Town Manager Matt Kraunelis, Chief Financial Officer Sharon Angstrom, Elder/Human Services Administrator Chris Kowaleski, Assistant Town Manager Jayne Wellman, Fire Chief Greg Burns, Assistant Fire Chief Rick Nelson, School Superintendent Tom Milaschewski, Interim School Director of Finance Phil Littlehale (remote), Community Services Director Jenna Wood, Killam SBC Chair Carla Nazzaro, PBC Chair Pat Tompkins, School Committee Chair Tom Wise, Chuck Adamof Turner & Townsend Heery(OPM for ReCAL); Select Board Members: Carlo Bacci (remote), Mark Dockser, Chris Haley (remote), Karen Herrick, Melissa Murphy (remote); Nancy Ziemlak, Marilyn Shapleigh,Joanne Wooldridge,AnneMarie Bourque, Carolyn Whiting (remote), Tom Mottl (remote), Tara Gregory (remote), Jack (remote), Carol D'agostino (remote), John C (remote 7:52pm) Minutes Respectfully Submitted By:Jacquelyn LaVerde Topics of Discussion: This meeting was held in-person in the Conference Room of the Reading Public Library and remotely via Zoom. Due to technical difficulties in the Community Room, the meeting was moved across the hall to the Conference Room of the Reading Public Library. Chair Joe Carnahan called the meeting to order at 7:36 pm. Roll call attendance: Emily Sisson (remote), Joe McDonagh, John Sullivan, Endri Kume, Mark Zarrow, Geoffrey Coram, Marianne McLaughlin-Downing, Joe Carnahan. Select Board Chair Carlo Bacci called the Select Board to order at 7:38 pm. Roll call attendance: Mark Dockser, Karen Herrick, Chris Haley (remote), Melissa Murphy (remote), Carlo Bacci (remote). Killam School Building Project Overview Carla Nazzaro, Chair of the Killam School Building Committee,provided an overview ofthe progress of the Killam school building project. The project is in the schematic design phase, Page | 1 with the Massachusetts School Building Authority (MSBA)board unanimously approving its move from feasibility study to schematic design this morning. She also reviewed the proposed site plan, community uses, and floor plans. She also reviewed the funding options and the proposed designs that were considered, as required by the MSBA. The MSBA has indicated that they will participate in funding the construction of 20 Grade K-5 classrooms, specialist offices, multi-language learner classrooms, adaptive physical education, and 12 RISE preschool classrooms. However, the MSBA will not participate in funding the extra gym space, larger staff lunchroom, larger conference room, non-classroom RISE space, and an office and storage for Extended Day. The MSBA will partially fund 2,000 square feet of The next steps include a decision on the HVAC system at the November 20th building committee meeting and a design update on December 2nd. The current total project cost estimate is $135 million, and is based on building full geothermal wells for the HVAC system. The MSBA current estimated reimbursement rate is 51% of eligible costs, which is an estimated total reimbursement of approximately $38.5 million to $40 million., though the definite reimbursement rate will be determined right before the project goes to bid. Reading Center for Active Living (ReCAL) Project Overview The Reading Center for Active Living (ReCAL) project update was presented by Mark Dockser, a member of the Select Board and the Permanent Building Committee related to the ReCAL project. The project, which aims to serve the 60-plus community in Reading, has transitioned from the ad hoc Reading Center for Active Living Committee to the Permanent Building Committee (PBC). The PBC has hired an owner's project manager (OPM), Turner and Townsend Heery (TTH), and an environmental study is currently underway at Symonds Way, the site recommended by the Council on Aging and ReCALC. The next step is to finalize the site selection and move forward with schematic drawings and clear cost estimates. The goal is to bring a funding article to April 2025 Town Meeting. He provided an overview of the work conducted by ReCALC that has led to this point, including exploring the needs of the 60-plus community, identified and researched site opportunities, benchmarked other communities and highlighted best practices, and recommended Symonds Way as the preferred site, before sunsetting in August 2024. The PBC accepted the ReCAL project, hired a project manager, and is currently reviewing the site selection materials to make their recommendation. Chuck Adam, VP and Regional Manager of TTH, introduced himself as the OPM and shared his enthusiasm for the project. The future of the current Pleasant Street Senior Center (PSC) will be discussed at an upcoming Select Board meeting. Ms. McLaughlin-Downing asked about communities with similar populations that recently completed Senior Center projects with less square footage, and expressed concern that the project might not be approved by voters, if it is asking for too much. Mr. Dockser explained that other communities indicated that if they could do their projects differently, they would have added a gym, and proposing the project as a Community Center, rather than just a Senior Center would appeal to more of the community. Grant opportunities are being explored, and the non-profit organization Friends of Reading 60-plus is vigorously fund- raising and advocating for the seniors in town. On a motion by Mark Dockser, seconded by Karen Herrick, the Select Board voted 5-0-0 to adjourn at 8:47 pm. Roll call vote: Karen Herrick Yes, Mark Dockser Yes, Melissa Murphy Yes, Chris Haley Yes, Carlo Bacci Yes. Vote on Amended Subsequent Town Meeting Warrant Article 4/ Vote on Amended Subsequent Town Meeting Warrant Article 5 Page | 2 Chief Financial Officer Sharon Angstrom explained that Article 4 of the Subsequent Town Meeting Warrant, amendments to the current Capital Improvement Program, needed to be amended. At the Subsequent Town Meeting last November, $130,000 was voted to be reallocated from the Parker Roof surplus to fund a new fire truck, which will be delivered soon. Because those funds were never encumbered, and they closed out to free cash yesterday, the CIP needs to be amended by increasing line C99 by $130,000 to be funded from free cash. Article 5, for prior years bills, does not need to be amended after all. There was a bill from a prior year that was received earlier today, but a purchase order was found, held over from a previous year, that is available to pay for it. On a motion by Marianne McLaughlin-Downing, seconded by Endri Kume, the Finance Committee voted 8-0-0 to recommend the substance of Article 4 to Town Meeting as amended. Roll call vote: Emily Sisson Yes, Joe McDonagh Yes, John Sullivan Yes, Endri Kume Yes, Mark Zarrow Yes, Geoffrey Coram Yes, Marianne McLaughlin- Downing Yes, Joe Carnahan Yes. Discuss Finance Committee Policies The Committee discussed the management of reserves and the potential for moving more funds into the stabilization fund. They also considered the implications of the bond rating agencies' views on reserves and the need for accurate representation of free cash. The discussion also touched on the use of reserves for one-time capital projects and the potential for a debt stabilization fund. Future Meeting Dates and Agenda Items The Finance Committee will be posted for Select Board budget meetings in December, and School Committee Budget Hearings in January. The next regular FINCOM meeting will be when budget reviews begin at the end of February. Approval of Prior Meeting Minutes On a motion by Geoffrey Coram, seconded by Mark Zarrow, the Finance Committee voted 7-0-1 to approve the meeting minutes of October 9, 2024 as presented, with Endri Kume abstaining, as he was not present at that meeting. Roll call vote: Emily Sisson Yes, Joe McDonagh Yes, John Sullivan Yes, Endri Kume Abstain, Mark Zarrow Yes, Geoffrey Coram Yes, Marianne McLaughlin- Downing Yes, Joe Carnahan Yes. On a motion by Marianne McLaughlin-Downing, seconded by Geoffrey Coram, the Finance Committee voted 8-0-0 to adjourn at 9:29 pm. Roll call vote: Emily Sisson Yes, Joe McDonagh Yes, John Sullivan Yes, Endri Kume Yes, Mark Zarrow Yes, Geoffrey Coram Yes, Marianne McLaughlin- Downing Yes, Joe Carnahan Yes. Page | 3