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Home My WebLink About2024-10-30 Finance Committee - Financial Forum Packet Town of Reading Meeting Posting with Agenda 2018-07-16LAG Board -Committee -Commission -Council: Finance Committee Date: 2024-10-30Time: 7:00PM Building: Reading Public LibraryLocation: Community Room Address: 64 Middlesex AvenueAgenda: Revised 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 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-person in the Community Room of the Reading Public Library and remotely via Zoom: Join Zoom Meeting https://us06web.zoom.us/j/81023825600 Meeting ID: 810 2382 5600 One tap mobile +16465189805,,81023825600# US (New York) +16465588656,,81023825600# US (New York) Dial by your location Find your local number: https://us06web.zoom.us/u/kkGvtCKqR AGENDA: Welcome and Introduction from the Finance Committee Chair Killam School Building Project Overview Reading Center for Active Living (ReCAL) Project Overview Vote on Amended Subsequent Town Meeting Warrant Article 4* Vote on Amended Subsequent Town Meeting Warrant Article 5** Discuss Finance Committee Policies Future Meeting Dates and Agenda Items Approval of Prior Meeting Minutes *Revised 10/29/2024 to add agenda item. Originally posted at 3:25 pm Oct 23, 2024. **Revised 10/30/2024 to add agenda item. Originally revised at 5:16 pm Oct 29, 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 "APLACEWHERE EVERYONEBELONGS" J.WARRENKILLAMELEMENTARYSCHOOL TOWNOFREADING KEYSDMILESTONES J.WARRENKILLAMELEMENTARYSCHOOL TOWNOFREADING 16 PROPOSEDPROJECTTIMELINE FASPresentation Spring J.WARRENKILLAMELEMENTARYSCHOOL COMMUNITY MEETING: SITE AND COMMUNITY USE COMMUNITY MEETING: SITE AND COMMUNITY USE 3-5 PLAY PATIO U12 FIELDK-2 PLAY WOW RISE PLAY COMMUNITY MEETING: SITE AND COMMUNITY USE WOW 3-5 PLAY PATIO U12 FIELD K-2 PLAY U10 SOFTBALL RISE PLAY COMMUNITY MEETING: SITE AND COMMUNITY USE COMMUNITY MEETING: SITE AND COMMUNITY USE 13 EXTERIORRELATIONSHIPSANDCONNECTIONS K-2Play 3-5Play Parking Safe,Accessible PlayAreas N WOWNature Center SiteExit SiteEntry J.WARRENKILLAMELEMENTARYSCHOOL 14 BUILDINGMASSINGANDSCALE SimpleMassing/Scale 2-Story Warm/DurableMaterials Cafe Masonry SteppingtoNeighbors Above VariedOutdoorSpaces 1-StoryPanels 1& 2-Story &Porches Stepping Connectionsto Exterior DaylightRoofMonitors N SiteSection: J.WARRENKILLAMELEMENTARYSCHOOL Funding Update 17 PRELIMINARYDESIGNPRICING J.WARRENKILLAMELEMENTARYSCHOOL PSRUPDATE MSBAWILLParticipateinFunding: 20Classroomsforgrades1-5 STERoomandStorage Specialistoffices(Literacy,Math,Reading) MLLClassrooms AdaptivePE 12RISEPre-KClassrooms J.WARRENKILLAMELEMENTARYSCHOOL TOWNOFREADING PSRUPDATE MSBAWillNOTParticipate inFunding: ExtraGymSpace-1,150SF LargerStaffLunchRoom187SF Admin&Guidance(largerconferencerm;largercounselingoffices)388SF Allnon-classroomRISEProgramSpaces5,855SF ExtendedDayOfficeandStorage500SF J.WARRENKILLAMELEMENTARYSCHOOL TOWNOFREADING PSRUPDATE MSBAWillPARTIALLY Participate inFunding: 2,000SFof4,800SFofFlexArea ЊΏЍ/ƌğƭƭƩƚƚƒƭƒğǣƭźǩĻğƌƌƚǞĻķЊͲЉЉЉ{C tƩƚŭƩğƒƒĻķ{źǩĻВЉЉ{C {ğǝĻķЊЉЉ {CǣЋЉ ўЋͲЉЉЉ {C YźƓķĻƩŭğƩƷĻƓ/ƌğƭƭƩƚƚƒƭƒğǣƭźǩĻğƌƌƚǞĻķЊͲЌЉЉ{C tƩƚŭƩğƒƒĻķƭźǩĻЊͲЊͲЉЉ{C {ğǝĻķЋЉЉ{CǣЍ ўБЉЉ {C J.WARRENKILLAMELEMENTARYSCHOOL TOWNOFREADING NEXTSTEPS MSBABoardMeeting:October30 NextSBCMeetings:Nov.20HVACsystemselection Dec.2SDUpdate NextCommunityMeetings:Oct.23SiteandCommunityUse Nov.4Traffic J.WARRENKILLAMELEMENTARYSCHOOL TOWNOFREADING RECAL The Reading Center for Active Living FinCommUpdate October 30, 2024 10/30/24RECAL--The Reading Center for Active Living1 Project Status Update Transitioned: RECALC Permanent Building Committee (PBC) +2 Owners Project Manager (OPM) hired October 2024! Environmental Study Conducted at Symonds Way Finalize Site Selection--> Schematic Drawings Vote at Town Meeting -- April 2025 10/30/24RECAL--The Reading Center for Active Living2 RECALCPBC RECALC Explored needs of the age 60+ community Identified and researched site opportunities in the town Benchmarked other communities and highlighted best practices Recommended Symonds Way as the preferred Site Sunset August 2024 and transition to PBC PBC Accepted the RECAL project Oversaw hiring of Project Manager Reviewing site selection materials Site Recommendation 10/30/24RECAL--The Reading Center for Active Living3 OPMOwners Project Manager Turner & Townsend Heery Unanimous recommendation of Permanent Building Committee (PBC) Engaged in site review, discussion at PBC Monday November 4 Project Leader from TTH Chuck Adams 10/30/24RECAL--The Reading Center for Active Living4 Environmental Study @Symonds Way Soil testing last week Preliminary results expected @November 4 PBC meeting Guidance on site conditions, considerations Potential impact on site for RECAL and possibly Pickleball courts 10/30/24RECAL--The Reading Center for Active Living5 Site Selection PBC working session November 4 Finalize selection recommendation in November and present to Select Board 10/30/24RECAL--The Reading Center for Active Living6 BH+A Architects Schematic Design Contracted in 2023 with ARPA funds Move to next phase upon site selection approval by SB Design: 60-90 days to complete Working with OPM on community sessions in early 2025 Present to community in February Funding article targeted for April 2025 Town Meeting 10/30/24RECAL--The Reading Center for Active Living7 Questions? 10/30/24RECAL--The Reading Center for Active Living8 MOTION UNDER ARTICLE 3 2024SUBSEQUENTTOWN MEETING Move that the Town amend the FY 2025-35Capital Improvements Program as provided for in Section 7-7 of the Reading Home Rule Charter and as previously amended, by making these changes: General Fund FY25:+$ 2,052,000 net changes($1.3 million debt authorization) -$ 85,000Bobcat UV56 (Facilities) +$ 40,000 Parking Enforcement Vehicle (2013) +$ 30,000 Highway pickup #18 (2006) (increase from $80k to $110K) -$ 30,000 Blowerunit for loader (reduce price from $250k to $220k) +$ 420,000 Road paving (increase from $425k to $845k) +$ 100,000 Sidewalk work (increase from $100k to $200k) +$ 32,000 Fencing around play area adjacent to Wood End School (new)+$ 32,000 Fencing around play area adjacent to Wood End School (new)+$ 32,000 Fencing around play area adjacent to Wood End School (new) +$ 245,000 BM Phase II Design (debt issuance delayed savings used toward design)+$ 245,000 BM Phase II Design (debt issuance delayed savings used toward design)+$ 245,000 BM Phase II Design (debt issuance delayed savings used toward design) +$1,300,000 RMHS Fieldhouse Floor and Bleachers (increase debt auth by $1.3 mill+$1,300,000 RMHS Fieldhouse Floor and Bleachers (increase debt auth by $1.3 mill+$1,300,000 RMHS Fieldhouse Floor and Bleachers (increase debt auth by $1.3 milliiion)on)on) FY26:+$ 15,000 net changes -$ 55,000 Carpenters Cut-away Van(move out 1 year and increase to $60k)(move out 1 year and increase to $60k)(move out 1 year and increase to $60k) -$ 40,000 Doors and Windows at schools (move out 1 year)$ 40,000 Doors and Windows at schools (move out 1 year)$ 40,000 Doors and Windows at schools (move out 1 year) +$ 15,000 Wood End Water Heater -$ 10,000 Library equipment (not needed) +$ 20,000ALS Defibrillator Monitor (increase from $50k to $70k)ALS Defibrillator Monitor (increase from $50k to $70k)ALS Defibrillator Monitor (increase from $50k to $70k) -$ 65,000 Small Dump Truck #7 (2012) (move out 1 year and increase from $65k to $120k)$ 65,000 Small Dump Truck #7 (2012) (move out 1 year and increase from $65k to $120k)$ 65,000 Small Dump Truck #7 (2012) (move out 1 year and increase from $65k to $120k) +$ 35,000 Highway Truck #18 Sander (2006) (increase from $240k to $275k)+$ 35,000 Highway Truck #18 Sander (2006) (increase from $240k to $275k)+$ 35,000 Highway Truck #18 Sander (2006) (increase from $240k to $275k) +$115,000 Road paving (increase from $425k to $540k)+$115,000 Road paving (increase from $425k to $540k)+$115,000 Road paving (increase from $425k to $540k) FY27+ Various other changes made Enterprise Funds WaterWaterWater FY25:+$560,000 net changes +$560,000 Water Main Replacement Sanborn St+$560,000 Water Main Replacement Sanborn St+$560,000 Water Main Replacement Sanborn St FY26: +$600,000 net changes +$600,000Water Main Replacement Hopkins StWater Main Replacement Hopkins StWater Main Replacement Hopkins St FY27+ Various changes made Enterprise Funds Sewer FY25:+$ net changes FY26: +$40,000 net changes +$40,000Sewer pickup #17 (increase price from $60k to $100k) FY27+ Various changes made Enterprise Funds Storm Water FY25: net changes FY26: +$ net changes FY27+ Various changes made Select BoardSelect BoardSelect Board MOTION UNDER ARTICLE 4 2024SUBSEQUENTTOWN MEETINGMEETINGMEETING Move that the Town cal Year commencing July cal Year commencing July cal Year commencing July 1, 2024,as adopted under Article 12of the Annual Town Meeting of April of the Annual Town Meeting of April of the Annual Town Meeting of April 222555,,,202420242024; and; and; andtototoraiseraiseraisean d appropriate or transfer from available fundsa sum of moneya sum of moneya sum of money, to be added to the amounts , to be added to the amounts , to be added to the amounts appropriated under said Article, as amended, for the operation of the Town and its governmentappropriated under said Article, as amended, for the operation of the Town and its governmentappropriated under said Article, as amended, for the operation of the Town and its government, as provided in the below chart: General Fund Wages and Wages and Wages and ExpensesExpensesExpenses Account LineDescriptionDescriptionDescriptionDecreaseDecreaseDecreaseIncrease Formatted Table C99 -CapitalAs described in Article 3As described in Article 3As described in Article 3plus $130k for fire truck plus $130k for fire truck plus $130k for fire truck $882752,0 notencumbered and closed to free cash in errorencumbered and closed to free cash in errorencumbered and closed to free cash in error 00 Delayed Borrowing BM PHII & Downtown Ph II Delayed Borrowing BM PHII & Downtown Ph II Delayed Borrowing BM PHII & Downtown Ph II D-99-Debt$721,000 E99-Voc. EdNERMVS +$10kNERMVS +$10kNERMVS +$10k$10,000 F99FINCOMReplenish for additional funds needed for DPW Replenish for additional funds needed for DPW Replenish for additional funds needed for DPW $135,000 trucks $135ktrucks $135ktrucks $135k G91 Admin. Attrition Savings Attrition Savings Attrition Savings ---$7.5k$7.5k$7.5k$7,500 Services Wages G-92 Admin Property Casualty Insurance Property Casualty Insurance Property Casualty Insurance -$25k$25k$25k$25,000 Services Expenses G91a Extra OT for Cloud migration project$10,000 Technology Wages G-92a Technology Security Upgrades$25,000 Technology Expenses H91 Public Attrition Savings -$7.5k$7,500 Services Wages H92 Public Regional Housing Expense +$30k$10,000 Services -$20k Expenses I91 Finance Make temp part-time position full-time permanent $60,000 Wages+$60k J91Public Retirement/Attrition savings -$35k$35,000 Safety Wages K-95 RubbishCompost Collection at Schools +$50k$50,000 M91-Core Retirement savings -$10k$10,000 Facilities Wages Subtotals$806,000$1,052,00$1,052,00$1,052,00 000 Net Operating Expenses$$$246246246376376376,0,0,0 000000 From Free Cash$$$246246246376376376,0,0,0 000000 Enterprise Funds Account LineDescriptionDecreaseDecreaseDecreaseIncreaseIncreaseIncrease W99 Water EFWater Main Replacement Sanborn StSanborn StSanborn St$560,000 Subtotals---$560,000 From Water EF ReservesWater EF ReservesWater EF Reserves560,000 Finance Committee MOTION UNDER ARTICLE MOTION UNDER ARTICLE MOTION UNDER ARTICLE 5 2024SUBSEQUENTSUBSEQUENTSUBSEQUENTTOWN MEETINGTOWN MEETINGTOWN MEETING Move that the Town pay an invoicefrom CivicPlus from prior fiscal years for $1,788.25 from Free from CivicPlus from prior fiscal years for $1,788.25 from Free from CivicPlus from prior fiscal years for $1,788.25 from Free Cash. Select Board Town of Reading Meeting Minutes 2016-09-22 LAG Board -Committee -Commission -Council: Finance Committee Date: 2024-10-09Time: 7:00PM Building: Reading Town Hall Location: Conference Room Address: 16 Lowell StreetSession: Open Session Purpose: General BusinessVersion: Draft Attendees:Members -Present: Chair Joe Carnahan, Vice Chair Marianne McLaughlin-Downing, Geoffrey Coram, Joe McDonagh, Ed Ross, Emily Sisson (remote), John Sullivan, Mark Zarrow Members -Not Present: Endri Kume Others Present: Town Manager Matt Kraunelis, Chief Financial Officer Sharon Angstrom, Chief Technology Officer Kevin Furilla, Fire Chief Greg Burns, Police Chief David Clark, Community Development Director Andrew MacNichol (remote), Facilities Director Joe Huggins, Assistant Facilities Director Kevin Cabuzzi (remote), DPW Director Chris Cole, School Superintendent Thomas Milaschewski, School Committee Chair Tom Wise, Rob Belkner -FJRoberts Sports Surfaces (remote), Carl McFadden; Select Board Members: Karen Herrick, Chris Haley (remote), Carlo Bacci (remote), Melissa Murphy (remote); Carl McFadden, Jack (remote) Minutes Respectfully Submitted By:Jacquelyn LaVerde Topics of Discussion: This meeting was held in-person in the Town Hall Conference Room and remotely via Zoom. Welcome Chair Joe Carnahan called the meeting to order at 7:00 pm. The Select Board called to order at 7:01 pm. Select Board Roll Call: Karen Herrick, Chris Haley (remote), Carlo Bacci (remote), Melissa Murphy (remote). Finance Committee Roll call: Emily Sisson (remote), Geoffrey Coram, Ed Ross, Joe McDonagh, John Sullivan, Marianne McLaughlin-Downing, Mark Zarrow, Joe Carnahan. Liaison Reports Geoffrey Coram stated that the School Department appointed Phil Littlehaleasthe Interim Director of Finance. Marianne McLaughlin-Downing noted that the Select Board discussed reallocating $108,000 of American Rescue Plan Act (ARPA)fundsoriginallyallocated for Reading Center for Active Living (ReCALC)for pickleball or other proposals such as sewer, paving, and sidewalks. Page | 1 Emily Sisson noted that the pickleball community has raised $120,000,which they are hoping to donate to build pickleball courts. There is also $100,000 for pickleball on the capital plan. The hope is to bring it to spring 2026 Town Meeting for a vote. Ms. Sisson also noted that Community Services has a Volunteer Coordinator, whose position is funded with ARPA funds through FY25. They are trying to figure out how to use revolving funds to keep her at 10-15 hours per week. Recreation is also trying to figure out how to fund a part time therapeutic person, which might also be funded with revolving funds. Ed Ross shared that the Killam School Building Committee (KSBC) met last week, is still on track, and moving into the Schematic Design phase. Joe Carnahan shared that the Select Board agreed to extend the charge of the Community Preservation Act (CPA) Study Committee. The Study Committee will continue its work on recommending a date to bring CPA to the ballot, research possible projects, and collect updated information on the amount of funds that could be collected and what it will cost people. Discuss and Vote on Use of Free Cash to Support the FY26 Budget Chief Financial Officer Sharon Angstrom provided a brief update to estimates for accommodated costs, and a rundown of the possible free cash usage for FY26. The Committee engaged in a lengthy discussion on free cash usage and regeneration. Members raised concerns about inflation, increased costs for rubbish, benefits and other expenses, the impact of continued use of free cash to support the budget, potential debt exclusions for the upcoming Killam and senior center projects, possible adoption of CPA, and the potential for a future override. School Committee Chair Tom Wise noted that union contracts are a big portion of the budget that needs to be accounted for, and stated that a 3.5% use of free cash would work for the School budget. Town Manager Matt Kraunelis noted that figure would work for the Town budget as well. Ed Ross made a motion to recommend using $5.8 million of free cash, or 3.5% of the operating budget, to support the FY26 Operating Budget, seconded by John Sullivan. Joe McDonagh moved to amend the amount to $5.72 million of free cash, or 3.4% of the operating budget, seconded by Marianne McLaughlin-Downing. The amended motion failed by a vote of 6-2: Emily Sisson Yes, Geoffrey Coram No, Ed Ross No, Joe McDonagh Yes, John Sullivan No, Marianne McLaughlin- Downing No, Mark Zarrow No, Joe Carnahan No. The original motion passed by a vote of 8-0: Emily Sisson Yes, Geoffrey Coram Yes, Ed Ross Yes, Joe McDonagh Yes, John Sullivan Yes, Marianne McLaughlin-Downing Yes, Mark Zarrow Yes, Joe Carnahan Yes. Discuss and Vote on Financial Articles in the Subsequent Town Meeting Warrant The Committee reviewed the financial articles of the Subsequent Town Meeting Warrant. Article 15 School Superintendent Thomas Milaschewski, Facilities Director Joe Huggins, and consultant Rob Belkner of FJ Roberts Sports Surfaces, presented the request of Article 15 of the Subsequent Town Meeting Warrant for an additional $1.3 million to replace the field house floor. At Town Meeting last April, $1.7 million of debt was authorized for the replacement of the field house floor and bleachers, and it was noted that options were still being explored, and more funding may be requested later. The field house is very heavily used year-round for physical education, recreation, and other events. Mr. Huggins and Mr. Belkner summarized the two primary replacement options for the floor: foam-backed vinyl and wood athletic. They highlighted the safety and quality factors that made the wood athletic floor more favorable. The wood athletic floor will last an estimated 50 years, versus the estimated 20 years for the foam-backed vinyl. The total project cost of the foam-backed Page | 2 vinylfloor is $1.7 million, or $3 million for the wood athletic surface.Carl McFadden, a regular user of the field house as a recreation basketball coach, advocated for the wood athletic floor. The consensus of the Committee was to invest in the safety, quality, and longevity of the wood athletic floor. On a motion by Emily Sisson, seconded by Joe McDonagh, the Finance Committee voted 8-0 to recommend the content of Article 15 to Town Meeting as amended to include the $1.3 million amount in the motion. Roll call vote: Emily Sisson Yes, Geoffrey Coram Yes, Ed Ross Yes, Joe McDonagh Yes, John Sullivan Yes, Marianne McLaughlin-Downing Yes, Mark Zarrow Yes, Joe Carnahan Yes. Select Board member Carlo Bacci left the meeting at 8:48 pm. As it was unknown when Select Board member Melissa Murphy left the meeting, the Select Board was de-facto adjourned. Article 3 Ms. Angstrom reviewed the recommended changes to the FY25-FY35 Capital Improvement Program (CIP). She noted that $1.3 million of authorized debt was missing from the draft of the warrant report presented, and the adjusted net change for the FY25 CIP for the General Fund is $2.025 million. On a motion by Ed Ross, seconded by Joe McDonagh, the Finance Committee voted 8-0-0 to recommend the content of Article 3 as amended to Town Meeting. Roll call vote: Emily Sisson Yes, Geoffrey Coram Yes, Ed Ross Yes, Joe McDonagh Yes, John Sullivan Yes, Marianne McLaughlin-Downing Yes, Mark Zarrow Yes, Joe Carnahan Yes. Article 4 Ms. Angstrom reviewed the requested changes to the FY25 operating budget. On a motion by Marianne McLaughlin-Downing, seconded by Emily Sisson, The Finance Committee voted 8-0-0 to recommend the content of Article 4 to Town Meeting as amended to specify Technology Security Upgrades. Roll call vote: Emily Sisson Yes, Geoffrey Coram Yes, Ed Ross Yes, Joe McDonagh Yes, John Sullivan Yes, Marianne McLaughlin-Downing Yes, Mark Zarrow Yes, Joe Carnahan Yes. Article 5 As there are no prior years bills at this time, Article 5 is expected to be tabled. Article 6 Article 6 requests that $39,000 for 40R smart growth projects, received from the state after April Town Meeting, be transferred from free cash to the Smart Growth Stabilization Fund. On a motion by Ed Ross, seconded by Joe McDonagh, the Finance Committee voted 8-0-0 to recommend the substance of Article 6 to Town Meeting. Roll call vote: Emily Sisson Yes, Geoffrey Coram Yes, Ed Ross Yes, Joe McDonagh Yes, John Sullivan Yes, Marianne McLaughlin-Downing Yes, Mark Zarrow Yes, Joe Carnahan Yes. Article 7 Article 7 requests the adoption of Mass. General Law Chapter 40, Section 5B, which will allow 40R Smart Growth funds received to be directly put into the Smart Growth Stabilization Fund. On a motion by Ed Ross, seconded by Mark Zarrow, the Finance Committee voted 8-0-0 to recommend the substance of Article 7 to Town Meeting. Roll call vote: Emily Sisson Yes, Geoffrey Coram Yes, Ed Ross Yes, Joe McDonagh Yes, John Sullivan Yes, Marianne McLaughlin-Downing Yes, Mark Zarrow Yes, Joe Carnahan Yes. Article 8 Page | 3 Back in 2023, the Town started to receivefunds from opioid settlements, which are required to be used for substance abuse programming, before there was legislation to allow the funds to go into a special revenue account. Legislation was eventually approved to setup a special revenue fund, and funds received in 2024 were able to be put directly into that fund. Funds received in 2023 that closed out to free cash, totaling $81,157, need to be transferred to the special revenue fund. On a motion by Ed Ross, seconded by John Sullivan, the Finance Committee voted 8-0-0 to recommend the substance of Article 8 to Town Meeting. Roll call vote: Emily Sisson Yes, Geoffrey Coram Yes, Ed Ross Yes, Joe McDonagh Yes, John Sullivan Yes, Marianne McLaughlin-Downing Yes, Mark Zarrow Yes, Joe Carnahan Yes. Article 9 Town Manager Matt Kraunelis and Community Development Director Andrew MacNichol explained that Article 9 will be indefinitely postponed, as there might be possible additional funding for this project through a federal earmark and other grants. By April Town Meeting, the Town will have a better idea of the funding. Article 13 Article 13 requests $150,000 for the last phase of the Town Forest Thinning Project. On a motion by Geoffrey Coram, seconded by Ed Ross, the Finance Committee voted 8-0-0 to recommend the substance of Article 13 to Town Meeting. Roll call vote: Emily Sisson Yes, Geoffrey Coram Yes, Ed Ross Yes, Joe McDonagh Yes, John Sullivan Yes, Marianne McLaughlin-Downing Yes, Mark Zarrow Yes, Joe Carnahan Yes. Finance Committee reports to Town Meeting were assigned as follows: Ed Ross: Article 15 Joe Carnahan: Article 3 Joe McDonagh: Article 4 John Sullivan: Article 6 Marianne McLaughlin-Downing: Article 7 Mark Zarrow: Article 8 Geoffrey Coram: Article 13 Endri Kume: Article 5 (if needed) Discuss and Potentially Select Representative to Eastern Gateway Steering Committee Community Development Director Andrew MacNichol introduced the Eastern Gateway Steering Committee and provided an overview of the history of the project. The long-term intent of the Steering Committee is to bring the right stakeholders together, engage the whole community, and identify appropriate land use, transportation, and infrastructure improvements in the area. The deliverables of the Steering Committee will include policy recommendations to address the land uses identified, and drawings of the site concepts and land use scenarios. Mr. MacNichol requested that a member of the Finance Committee participate on the Steering Committee. John Sullivan volunteered to be the Finance Committees representative. On a motion by Ed Ross, seconded by Emily Sisson, the Finance Committee voted 8-0-0 to appoint John Sullivan as the ex-officio Finance Committee member to the Eastern Gateway Steering Committee. Roll call vote: Emily Sisson Yes, Geoffrey Coram Yes, Ed Ross Yes, Joe McDonagh Yes, John Sullivan Yes, Marianne McLaughlin-Downing Yes, Mark Zarrow Yes, Joe Carnahan Yes. Future Agendas, including Financial Forum II The next meeting will be the Financial Forum to hear updates on the Killam School building project and the Reading Center for Active Living Center (ReCAL) building project. The Committee agreed to change the date from October 30to November 6 if a meeting space is available. Page | 4 Other future meeting agenda items include: a discussion on ways to manage cash reserves and the stabilization fund, an introduction of the new Interim Director of Finance and Operations for the School Department, an introduction of the Assistant Chief Financial Officer/Treasurer, and a discussion of uses of the Burbank Ice Arena funds. Review and Approve Minutes from the September 18, 2024 Meeting (Financial Forum I) Joe Carnahan shared some minor edits to the draft minutes to clarify the timing of a potential override, and the amount of free cash regeneration. On a motion by Geoffrey Coram, seconded by Ed Ross, the Finance Committee voted 8-0-0 to approve the meeting minutes of September 18, 2024 as amended. Roll call vote: Emily Sisson Yes, Geoffrey Coram Yes, Ed Ross Yes, Joe McDonagh Yes, John Sullivan Yes, Marianne McLaughlin-Downing Yes, Mark Zarrow Yes, Joe Carnahan Yes. On a motion by Ed Ross, seconded by Marianne McLaughlin-Downing, the Finance Committee vote 8-0-0 to adjourn at 10:15 pm. Roll call vote: Emily Sisson Yes, Geoffrey Coram Yes, Ed Ross Yes, Joe McDonagh Yes, John Sullivan Yes, Marianne McLaughlin-Downing Yes, Mark Zarrow Yes, Joe Carnahan Yes. Page | 5