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Home My WebLink About2023-07-26 Finance Committee Packet Town of Reading Meeting Posting with Agenda 2018-07-16LAG Board -Committee -Commission -Council: Finance Committee Date: 2023-07-26Time: 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 Ed Ross 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 Town Hall Select Board Meeting Room and remotely via Zoom: Join Zoom Meeting https://us06web.zoom.us/j/89475867060 Meeting ID: 894 7586 7060 One tap mobile +16465189805,,89475867060# US (New York) +16465588656,,89475867060# US (New York) Dial by your location New York) Find your local number: https://us06web.zoom.us/u/kcnWDJyDXF AGENDA: Liaison Reports Vote to Reorganize Finance Committee Discuss Liaison Assignments Presentation by Community Development Staff regarding MBTA Communities Discuss BOLT Library Landscape Committee Approve Prior Meeting Minutes 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 TOWN OF READING FINANCE COMMITTEE LIAISON ASSIGNMENTS - FY24 (DRAFT) NAMELIAISON ASSIGNMENTS Audit Committee Chair Select Board Ed Ross ('22-'25; '28) Public Safety Schools & School Committee Administrative Services Select Board RMLD Joseph Carnahan ('24; '33) Public Works Facilities Schools & School Committee Geoffrey Coram ('21-'24; '32) Reading ARPA Advisory Committee Select Board Public Services/Community Development Marianne Downing ('23-`26; '32) Reading ARPA Advisory Committee Endri Kume (`24; `33) RMLD Library & Library Trustees Joseph McDonagh ('22-'25; '31) Reading ARPA Advisory Committee Public Services/Community Services Killam School Building Committee Emily Sisson ('22-'25; '31) Public Safety John Sullivan (`23-`26; `32) Audit Committee Mark Zarrow ('23-'26; '29) Permanent Building Committee To contact the Finance Committee, email:finance@ci.reading.ma.us 1 Administrative Services 2 Audit Committee 1 Facilities 1 Killam School Building Committee 1 Library & Library Trustees 1 Permanent Building Committee 2 Public Safety 1 Public Services/Community Development 1 Public Services/Community Services 1 Public Works 2 RMLD 2 Schools & School Committee 3 Select Board *Departments are underlined Town of Reading Meeting Minutes 2016-09-22 LAG Board -Committee -Commission -Council: Finance Committee Date: 2023-06-28Time: 7:00PM Building: Reading Town Hall Location: Select Board Meeting Room Address: 16 Lowell StreetSession: Open Session Purpose: General BusinessVersion: Draft Attendees:Members -Present: Chair Ed Ross, Joe Carnahan, Geoffrey Coram, Endri Kume,Joe McDonagh (remote),Marianne McLaughlin-Downing, Emily Sisson, John Sullivan Members -Not Present: Mark Zarrow Others Present: Town Manager Fidel Maltez, DPW Director Jane Kinsella (remote), Assistant DPW Director Chris Cole (remote), Karen Gately Herrick (remote) Minutes Respectfully Submitted By:Jacquelyn LaVerde Topics of Discussion: This meeting was held in-person in theTown Hall Select Board Meeting Room, and remotely via Zoom. Chair Ed Ross calledthe meetingto order at 7:01 pm,and introducedand welcomed new members: Endri Kume and John Sullivan. Liaison Reports: Marianne McLaughlin-Downingreviewed topics from the last Select Board meeting. The Select Board had a discussion on Grove Street Lot5. After much discussion, they approved new tiered water rates by a vote of 3-2. Because there was significant resident concern on multi-unit housing and larger families, the Board will continue discussion over the coming year ahead of next years waterrates. Ed Ross shared that he was on the Screening Committee for thenewSchool Department Director of Finance. Dr. Derek Pinto was the recommendation of the screening committee and the School Committee voted to appointhim last week. Mr. Ross also reported that the Killam School Building Committee went through the process of selecting the Owners Project Manager (OPM) in May and June. There were four firms interviewed by a smaller steering committee. The first-ranked firm selected had to withdraw. TheTown is now going through the processwith the second-ranked firm. Right now, the Town is waitingto finalize thecontract with the OPM andget on the MSBA schedule. At this point, the town is on target with the dates set out at thestart of the project. Vote on FINCOM Reserve Transfer Request: Forestry Bucket Truck: DPW Director Jane Kinsella explained that the forestry truck was a FY22 purchase. There was $275,000 allocated for the truck that had a one-year build cycle. The purchase order Page | 1 was created for theamount of the quoted price, instead of the full $275,000, releasing $16,000 back into the general fund. Somewhere close to the one-year mark, the vendor notified the town that they were having issues with getting some parts for the same pricing. The truck, which was originally expected back in February, is now expected by the end of summer. Town Manager Fidel Maltez noted that they considered legal recourse they could take with the vendor not honoring the quote, but none of the possible outcomes were favorable. But they opted to settle, as the vendor agreed to cover a majority of the overages, and the Town could still get the truck it wanted. The request is for a $10,000 transfer from Finance Committee Reserves to cover some of the cost difference. The vendor is absorbing an additional $30,000 in cost overages. On a motion by Emily Sisson, seconded by Joe Carnahan, the Finance Committee voted 8-0-0 to transfer $10,000 from the FINCOM Reserve Fund for additional expenses for the forestry bucket truck as presented. Roll call vote: Joe McDonagh Yes, Marianne McLaughlin-Downing Yes, Emily Sisson Yes, Joe Carnahan Yes, Geoffrey Coram Yes, Endri Kume Yes, John Sullivan Yes, Ed Ross Yes. Discussion on Grove Street Parking Lot on Lot 5: Town Manager Fidel Maltez reviewed the purchase of the parcel known as Lot 5 on Grove Street at November 2021 Town Meeting for $450,000, with the intention of making it a parking lot to allow access to the Town Forest and remove some parking from Grove Street. The Town received an earmark from the Commonwealth for $150,000 towards the purchase or development of the property. Engineering firm Weston & Sampson worked on the design of the parking lot, with the layout requiring a lot of environmental approvals by both local Conservation and the state. The project is fully designed and ready for construction. At their last meeting, the Select Board approved parking restrictions on Family Circle, which is frequently used for parking for Town Forest. That began a discussion of moving faster to construct the parking lot on Lot 5. The Select Board suggested approaching FINCOM to request funding for the parking lot. The project has not yet gone out to bid, but the preliminary cost estimate of the project is $175,000. Mr. Maltez stated that it will be going out to bid soon, and he should have a firm number in about four to six weeks. Then the Committee can discuss whether to use Reserves to be replenished at November Town Meeting, to get the project moving sooner, or just wait to fund the project at Town Meeting without using Reserves. The Finance Committee expressed a reluctance to approve such a significant amount of reserves, which would leave little help for other unforeseen things that might arise before reserves can be replenished at November Town Meeting. Mr. Maltez explained the safety concerns and benefits of completing the project sooner, rather than waiting for funding at Town Meeting. But the Committee asked to learn more about other sources of funding and other options for discussion at their next meeting. Discuss FY24 Meeting Schedule: The Committee reviewed the proposed FY24 meeting schedule and agreed to it. Future Agenda Items: Future meeting topics will include: update on Grove Street Lot 5, a preview of year-end financials, BOLT Library Landscape Committee, reorganization of the Committee, reassessing liaison assignments, an update from RMLD, and an introduction to the new School Finance Director. Approve Meeting Minutes: Emily Sisson moved to approve the meeting minutes of March 8, 2023, seconded by Marianne McLaughlin-Downing. Joe Carnahan moved to amend the liaison reports for clarity. He then moved to accept the proposed changes, seconded by Emily Sisson. Page | 2 On a motion by Marianne Mclaughlin-Downing, and seconded by Emily Sisson, the Finance Committee voted 6-0-2 to accept the meeting minutes of March 8, 2023 as amended, with Endri Kume and John Sullivan abstaining, as they were not yet members of the Committee at that meeting. Roll call vote: Marianne McLaughlin-Downing Yes, Emily Sisson Yes, Joe Carnahan Yes, Geoffrey Coram Yes, Joe McDonagh Yes, Endri Kume Abstain, John Sullivan Abstain, Ed Ross Yes. On a motion by Emily Sisson, seconded by Marianne McLaughlin-Downing, the Finance Committee voted to approve the meeting minutes of March 15, 2023, with a friendly amendment by Joe Carnahan by a vote of 6-0-2, with Endri Kume and John Sullivan abstaining, as they were not yet members of the Committee at that meeting. Roll call vote: Marianne McLaughlin-Downing Yes, Emily Sisson Yes, Joe Carnahan Yes, Geoffrey Coram Yes, Joe McDonagh Yes, Endri Kume Abstain, John Sullivan Abstain, Ed Ross Yes. On a motion by Emily Sisson, seconded by Joe Carnahan, the Finance Committee voted 8-0-0 to adjourn at 8:25 pm. Roll call vote: Marianne McLaughlin-Downing Yes, Emily Sisson Yes, Jow Carnahan Yes, Geoffrey Coram Yes, Joe McDonagh Yes, Endri Kume Yes, John Sullivan Yes, Ed Ross Yes. Page | 3