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Home My WebLink About2025-08-13 Finance Committee MinutesRECEIVED Town of Reading TOWN CLERK Meeting Minutes READING, MA. 2025 SEP 18 AM 1: 42� OC Board - committee - Commission - Council: Finance Committee Date: 2025-08-13 Time: 7:00 PM Building: Reading Town Hall Location: Conference Room Address: 16 Lowell Street Session: Open Session Purpose: General Business Version: Final Attendees: Members - Present: Joe Carnahan, Geoffrey Coram, Endri Kume, Marianne McLaughlin -Downing, Ed Ross, Emily Sisson, John Sullivan, Mark Zarrow (remote) Members - Not Present: Joe McDonagh Others Present: Town Manager Matt Kraunelis, CFO Sharon Angstrom, Assistant Town Manager Jayne Wellman, Facilities Director Joe Huggins (remote), Assistant Facilities Director Kevin Cabuzzi (remote), Karen Gately Herrick (remote) Minutes Respectfully Submitted By: Jacquelyn LaVerde Topics of Discussion: This meeting was held in -person in the Conference Room of Town Hall and remotely via Zoom. Call to Order and Welcome Chair Joe Carnahan called the meeting to order at 7:00 pm and reviewed the evening's agenda. Roll call attendance: Mark Zarrow (remote), Ed Ross, Geoffrey Coram, Endd Kume, Marianne McLaughlin -Downing, John Sullivan, Emily Sisson, John Sullivan. Absent: Joe McDonagh. Public Comment There was no comment from the public. Discussion on funding status of oast and current large capital proiects: Field House floor, ReCAL, Killam, Birch Meadow phase 2. Haven Street, Pickleball courts CFO Sharon Angstrom provided an overview of the funding status of past and upcoming capital projects. She explained the internal borrowing process, which provides a cash Flow to get the ReCAL, Killam, and Birch Meadow projects started, and delays the full borrowing until January and debt exclusion to the FY27 tax bills. The internal borrowing will be paid back with the permanent borrowing in January. Facilities Director Joe Huggins provided a status update on the High School Field House Floor project, which included new bleachers. There was other equipment in the field house that needed to be replaced. The project was approved for $3 million, and bids came in at $2.683 million. Two change orders were issued related to the Flooring part of the project, which included a new Reading Rockets logo on the court, side curtains on the bleachers, logos on the front of the bleachers, a court covering to protect the Floor for event such as Page I 1 voting, testing for slab compaction, painting the inside walls, electrical work to power the bleachers, duct work deep cleaning, new scoreboards, new backboards, new batting cage, and new divider curtains. An automatic scrubber will also be purchased to deep clean the new Floor. There will be an estimated $15,000 to $17,000 remaining when the project is done. Savings were realized by using the Town's electrical contractor and by naming Mr. Huggins as the Owners Project Manager (OPM). The project is expected to be completed by August 27a^ or the 29a'. Some Committee members expressed concern that so many items seemed out of scope, and optional items should have been better communicated to Town Meeting. The Committee discussed the need for better communication and transparency in future project presentations to Town Meeting to ensure that members understand the scope and potential additional costs involved. Ms. Angstrom reviewed the status of other capital projects. Nothing has been expended yet for pickleball, and the project will go out to bid around December or January. Remaining funds from the West Street road improvement project have already been moved. Other completed projects with balances Include the Police Station renovation with $1,300, energy improvements phase 2 with $17,977, the Parker roof with $30,000, building security with $13,996, Turf 2 with $882, and High School track and turf with $13.29. Birch Meadow, Maillet Sommes, and Haven Street projects are still in process. There is $90,000 left on the Library project, which could be used for the new Killam School or Reading Center for Active Living. She explained that borrowed funds leftover from capital projects can only be used for other projects with similar or longer borrowing terms, which reduces the amount needed to borrow for other projects. Mark Zarrow left the meeting at 7:50 pm. Town Manager Matt Kraunelis opened nominations for Chair. Emily Sisson nominated Marianne McLaughlin -Downing as Chair. Ms. McLaughlin -Downing respectfully declined the nomination, noting that her work schedule has become very busy. Marianne McLaughlin -Downing then nominated Joe Carnahan for Chair, which was seconded by Endri Kume. With no further nominations, Endri Kume moved to close nominations for Chair, which was seconded by Emily Sisson, and passed by a vote of 7-0. The Finance Committee then voted 7-0 to elect Joe Carnahan as Chair. Chair Joe Carnahan opened nominations for Vice Chair. Marianne McLaughlin -Downing nominated Emily Sisson for Vice Chair. With no other nominations, Ed Ross moved to close nominations, which was seconded by Geoffrey Coram and passed by a vote of 7-0. The Finance Committee then voted 7-0 to elect Emily Sisson as Vice Chair. Endri Kume shared that the Interim General Manager of RMLD resigned, and the RMLD Board of Commissioners is now actively collecting resumes for a new Interim General Manager. Marianne McLaughlin -Downing shared highlights from the Select Board meeting including a discussion on the Montessori School that is seeking to rent Mattera Cabin, approved internal borrowing for capital projects, and their discussion on potential revenue opportunities. Page 1 2 John Sullivan shared that the ReCAL construction estimate has decreased $1.3 million. The CPDC approved a childcare facility on Haverhill Street and discussed updating Accessory Dwelling Unit (ADU) bylaws. Emily Sisson shared updates from the Recreation Committee including the sad and unexpected passing of longtime member Michael Coltman, the election of Rich Hand as the new Chair, a 20% decrease in summer program revenue due to construction projects around town, and staff working to address providing programs that do not have adequate funding. Ed Ross provided an update on the Klllam School Building Committee. The modulars were moved from the Killam site to the High School to be used for pre-k until the Killam project is complete, then as administrative space. The Committee will be discussing the design development and drawings at their next meeting. Joe Carnahan shared that the Audit Committee met to review the RMLD audit. The Community Preservation Act (CPA) Study Committee is continuing its work and Is reaching out to stakeholder boards and committees. He stated that he attended the Town Forest Committee meeting to discuss the CPA, and the Chair noted that the Town Forest Committee is trying to secure funding for invasive species control. He also shared details of his conversation with the Conservation Administrator regarding the proposed Montessori School's use of Mattera Cabin. Discuss FY26 Liaison Assignments The Finance Committee reviewed the list of liaison assignments and agreed to various reassignments, and added liaisons for the Conservation Commission, Town Forest Committee, and Eastern Gateway Steering Committee. [The full list of FY26 Liaison Assignments is appended to these minutes.] Topics that will be discussed at the Financial Forum include the operating budget, updated free cash projections, override timing, free cash usage, accommodated costs, trash contract, and health insurance costs. The Finance Committee discussed and agreed to schedule the Financial Forum for October 8'h, and a regular meeting the following week on the 15'h to vote on Subsequent Town Meeting Articles. Joe Carnahan and Emily Sisson will discuss the agenda for the Financial Forum and decide whether another meeting on September 17'h will be needed ahead of the Forum. The Committee also reviewed and agreed on the meeting calendar for the rest of FY 2026, There will also be a July 2026 meeting so that the Committee can reorganize. Discussion on Select Board's response to Finance Committee Outreach and Policy Review Select Board member Karen Gately Herrick did not have an update. Approve Prior Meeting Minutes On a motion by Ed Ross, seconded by Endri Kume, the Finance Committee voted 6- 0-1 to approve the meeting minutes of June 25, 2025, with Geoffrey Coram abstaining, as he was not present at that meeting. On a motion by Emily Sisson, seconded by John Sullivan, the Finance Committee voted 7-0-0 to adjourn at 9:35 pm. Page 1 3 TOWN OF READING FINANCE COMMITTEE LIAISON ASSIGNMENTS - FY26 NAME LIAISON ASSIGNMENTS Audit Committee Joseph Carnahan ('24-'27) Chair Community Preservation Act Study Committee Facilities Geoffrey Coram ('24-'27) Schools & School Committee Public Safety Select Board Marianne Downing ('23226) Conservation Commission/Town Forest Charter Review Committee RMLD Endri Kume ('24227) Administrative Services Public Works Joseph McDonagh ('25228) RMLD Libra & Libra Trustees Killam School Building Committee Ed Ross ('25-78) Reading Ice Arena Authority Select Board Emily Sisson ('25228) Vice Chair Public Services/Community Services Public Safety Public Services/Community Development John Sullivan ('23226) Eastern Gateway Steering Committee Permanent Building Committee/ReCAL Audit Committee Mark Zarrow ('23226) Public Services/Recreation School Committee To contact the Finance Committee, email: fnance(aci.readinc.ma.us 'Departments are underlined