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Home My WebLink About2019-07-31 Finance Committee Packet 1 UPXO!PG!SFBEJOH Gjobodf!Dpnnjuuff!Mjbjtpot!GZ31!ESBGU Obnf0Beesftt0FnbjmUfmfqipofMjbjtpo!Bttjhonfout .892.436.3998)D*Qfsnbofou!Cvjmejoh!Dpnnjuuff 272!Cfmnpou!TusffuBveju!Dpnnjuuff fkcvslibsuAhnbjm/dpn .728.944.1483!)D*Tfmfdu!Cpbse 342!Gsbolmjo!TusffuMjcsbsz'!Usvtufft Tibxo/CsboeuAhnbjm/dpn .:89.:55.3551!)D*Tfmfdu!Cpbse 62:C!Nbjo!TusffuQfsnbofou!Cvjmejoh!Dpnnjuuff ebojfmefxbsAnf/dpn .892.781.2791!)I*Qvcmjd!Tbgfuz :!Ejwjefodf!Spbe892.751.8181!)D*!Gjobodf lbsfoifssjdlAsfnby/ofuSNME .892.369.2384)D*Qvcmjd!Tfswjdft 99!Cbz!Tubuf!SpbeBenjojtusbujwf!Tfswjdft Tfbokbdpct34Ahnbjm/dpnSNME Boesfx!Ndmbvdimbo:.39*892.618.6352)D*Tdippmt'!Tdippm!Dpnnjuuff 239!Ijhi!TusffuMjcsbsz'!Usvtufft Ndmbvdimbo/boesfxApvumppl/dpn .892.781.:118)I*Tfmfdu!Cpbse 52!Sjdibset!Spbe728.988.6563)X*Qvcmjd!Xpslt npmmnmnAhnbjm/dpn .892.:55.9335)I*Tdippmt'!Tdippm!Dpnnjuuff 51!Cfbwfs!SpbeQfsnbofou!Cvjmejoh!Dpnnjuuff qbvmbkqfsszAhnbjm/dpnGbdjmjujft Fexbse!Sptt2:.339*892.:55.8599)I*Bveju!Dpnnjuuf33 27!Lfotjohupo!Bwfovf728.7::.8653)D*Tdippmt'!Tdippm!Dpnnjuuff fksptt44Azbipp/dpn BENJOJTUSBUJPO Tibspo!Bohtuspn:53.7715)X*Upxo!Bddpvoubou tbohtuspnAdj/sfbejoh/nb/vt Kpio!Epifsuz:55.6911)X*Tvqfsjoufoefou!pg!Tdippmt kepifsuzAsfbejoh/l23/nb/vt Hbjm!Epxe:55.6911)X*Dijfg!Gjobodjbm!Pggjdfs-!Tdippmt Hbjm/EpxeAsfbejohl23/nb/vt Cpc!MfMbdifvs:53.7747)X*Upxo!Nbobhfs! cmfmbdifvsAdj/sfbejoh/nb/vt:53.:916)I* 2 Department/BCCWhenWhereTimeKey Contact Administrative ServicesBob LeLacheur/Matt Kraunelis Animal Control Appeals CommitteeAs NeededTown HallAs PostedBob LeLacheur/Caitlin Saunders Board of RegistrarsAs NeededTown HallAs PostedLaura Gemme Bylaw CommitteeAs NeededAs Posted7:00pmBob LeLacheur/Laura Gemme/Matt Kraunelis Celebration Trust CommitteeAs NeededTown HallAs PostedEverett Blodgett, Chair Climate Advisory Committee2nd & 4th Wednesday of the MonthTown Hall7:00pmDavid Zeek, Chair Cultural Council1st Monday of the MonthAs Posted7:00pmDonna Schenkel, Chair Rules CommitteeAs NeededTown HallAs PostedLaura Gemme Select BoardTuesday eveningsTown Hall - Select Board Room7:00pmBob LeLacheur/Caitlin Saunders FacilitiesJoe Huggins Permanent Building CommitteeAs NeededTown HallAs PostedJoe Huggins FinanceSharon Angstrom Audit CommitteeAs NeededTown HallAs PostedSharon Angstrom Board of AssessorsTuesdaysTown Hall - Assessor's Office7:00pmVictor Santaniello Commissioners of Trust FundsAs NeededTown HallAs PostedEndri Kume Retirement BoardMonthly2 Haven Street Unit 3075:00pmColleen Loughlin Veterans Memorial Trust Fund CommitteeAs NeededTown HallAs PostedKevin Bohmiller Housing Authority1st Monday of the MonthReading Housing AuthorityAs PostedJulie Johnston Library & TrusteesAmy Lannon Board of Library Trustees2nd Monday of the MonthAs Posted7:00pmAmy Lannon Public SafetyDeputy Chief David Clark Human Relations Advisory Committee1st Thursday of the MonthPolice Station - Community RoomAs PostedDeputy Chief David Clark/Joshua Goldlust, Chair RCASAAs PostedPolice Station - Community Room5:30pmErica McNamara Public ServicesJean Delios Board of Health3rd Wednesday of the MonthTown Hall - Conference Room5:30pmLaura Vlasuk Community Planning and Development Commission2nd Monday of the MonthTown Hall - Select Board Room7:30pmAndrew MacNichol/Julie Mercier Conservation Commission2nd & 4th Wednesday of the MonthTown Hall - Select Board Room7:00pmChuck Tirone Council on AgingAs PostedPleasant Street Center 2nd Floor6:30pmJane Burns Historic District Commission2nd Monday of the MonthTown HallAs PostedEverett Blodgett, Chair Historical Commission1st or 2nd Monday of the MonthTown Hall7:00pmJonathan Barnes, Chair Recreation Committee2nd Tuesday of the MonthTown Hall - Conference Room7:00pmJenna Fiorente Zoning Board of Appeals1st & 3rd Wednesday of the MonthTown Hall - Select Board Room7:00pmAmanda Beatrice Public WorksJane Kinsella Board of Cemetery TrusteesMonthlyTown Hall - Berger Room6:00pmVirginia Blodgett, Chair Town Forest CommitteeAs NeededTown HallAs PostedWilliam Sullivan, Chair Trails CommitteeAs NeededTown HallAs PostedKim Honetschlager/Thomas Gardiner, Chair RMLDColeen O'Brien RMLD Board of CommissionersThursdayMunicipal Light Building7:30pmTracy Schultz RMLD Citizens Advisory BoardAs NeededRMLD6:30pm School CommitteeThursdayRMHS Library7:00pmJohn Doherty/Gail Dowd 3 4 5 6 7 8 9 10 11 12 13 14 15 Town of Reading Meeting Minutes 2016-09-22 LAG Board -Committee -Commission -Council: Finance Committee Date: 2019-07-01Time: 7:30PM Building: Reading Town Hall Location: Conference Room Address: 16 Lowell StreetSession: Open Session Purpose: General BusinessVersion: Draft Attendees:Members -Present: Chair Eric Burkhart, Daniel Dewar, Karen Herrick, Shawn Brandt, Andrew Mclauchlan Members -Not Present: Paula Perry, Edward Ross Others Present: Town Manager Bob LeLacheur, Sean Jacobs (newly appointed,not yet sworn in) Minutes Respectfully Submitted By:Jacquelyn LaVerde Topics of Discussion: Chair Eric Burkhart called the meeting to order at 7:38pm. Hewelcomed new members Andrew Mclauchlan and Sean Jacobs and noted that new member Edward Ross was also appointed, but not present this evening. Mr. Burkhart addressed reorganization and said the Committee could either vote to reorganize this evening, or schedule a meeting for later in July when more members could be presentand provide input. The Committee agreed to wait until the next meeting. FINCOM Reserve Fund Transfers for FY19 Mr. LeLacheur stated that the Library had a lot of retirements in FY19. As a result, there were several retirement buybacks for vacation and sick time. The Library is requesting $5,000 to be transferred from the FINCOM reserve fundto the Library wage account due to retirements. On a motion by Mr. Brandt, seconded by Ms. Herrick, the Finance Committee approved the transfer of $5,000 from the FINCOM Reserve Fund to the Library wages fund by a vote of 5-0-0. FY20 Meeting Schedule Mr. LeLacheur noted that while the State Aid figures he provided are not yet final, assessments were higher than the budgeted 2%, and state aid was lower than anticipated. Overall, there is an estimated $200,000 deficit that will need to be accounted for, and some budget adjustments will be needed at the November Town Meeting. Mr. Burkhart explained the sequence of meetings throughout the year for the new members 16 Page | 1 FY20schedule. Mr. Brandt noted that the second financial forum is a week later than last year and asked if it would be possible to get a free cash estimate sooner. Mr. LeLacheur explained that he will ask Sharon Angstrom, Town Accountant, though she may only be able to provide an estimate because the state might not certify free cash before the financial forum. Mr. Brandt also suggested that the Committee have a discussion on what the right amount of free cash is, and whether an increased tax rate could be phased in and supplemented with free cash. Mr. Brandt recalled a discussion with the School Committee in which they noted that things that would promote long-term fiscal sustainability are cut in order to deliver a balanced budget for the year, and noted that it would be helpful to hear about those things. Ms. Herrick felt that the School Committee meetings were very long with the public input and asked if they might be able to address the financial topics first. Mr. LeLacheur stated that he would pass along the feedback. Mr. Burkhart suggested a more strategic approach where one FINCOM member attends those meetings, then reports back. Aside from the addition of a meeting in late July, there were no other changes to the proposed FY20 meeting schedule. Liaison Assignments Mr. Burkhart explained the roles of liaisons for the new members, and how the FINCOM members support Town Departments, Boards, and Committees from a financial perspective, attend those meetings whenever possible, and report back to the Finance Committee. Mr. Brandt suggested that the Committee receive a list of all the liaison assignments with their meeting times to help FINCOM members decide which departments and boards they are interested in working with, and if they are available during their meeting times. The Committee agreed that would be helpful, especially for the new members. Mr. LeLacheur stated that he would compile the list and provide it ahead of the next meeting. Future Meeting Topics Ms. Herrick stated that she has been attending RMLD meetings since January and suggested having representatives from RMLD attend a FINCOM Meeting and provide information on how RMLD operates. Mr. LeLacheur noted that the General Manager has offered to attend FINCOM Meetings and he will work with her as well to schedule RMLD for the November meeting. Mr. Burkhart proposed other topics including: reviewing FINCOM policies; and the unpredictability of budgeting for state aid, health care costs, and special education needs. He suggested a discussion on managing the volatility. Following a brief discussion on future pension contributions and health care costs, the Committee agreed that an overview of pension liabilities and OPEB at the next meeting would be beneficial. Minutes On a motion by Ms. Herrick, seconded by Mr. Brandt, the Finance Committee approved the meeting minutes of March 13, 2019 and April 25, 2019 by a vote of 5-0-0. On a motion by Mr. Brandt, seconded by Mr. Dewar, the Finance Committee voted to adjourn at 8:34pm. 17 Page | 2