The URL can be used to link to this page

Home My WebLink About2025-09-17 Finance Committee MinutesKECEIVEU Town of Reading TOWN CLERK r Meeting Minutes REgp(NG MA. 2025 OCT - Board - Committee - Commission - Council: 9 AM 7' 32 Finance Committee Date: 2025-09-17 Time: 7:00 PM Building: Reading Town Hall Location: Select Board Meeting Room Address: 16 Lowell Street Session: Open Session Purpose: General Business Version: Final Attendees: Members - Present: Chair Joe Carnahan, Vice Chair Emily Sisson, Geoffrey Coram, Endri Kume, Joe MCDonagh (remote), Marianne McLaughlin -Downing, Ed Ross (remote), John Sullivan, Mark Zarrow Members - Not Present: 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 Rose-Glllls (remote), Nancy Docktor, Angela Binda, Chris Haley, Karen Gately Herrick Minutes Respectfully Submitted By: Jacquelyn LaVerde Topics of Discussion: This meeting was held in -person in the Select Board Meeting Room of Town Hall and remotely via Zoom. Chair Joe Carnahan called the meeting to order at 7:00 pm. Roll call: Ed Ross (remote), Joe MCDonagh (remote), Emily Sisson (remote), Geoffrey Coram, Mark Zarrow, John Sullivan, Marianne McLaughlin -Downing, Joe Carnahan. Endri Kume arrived shortly after roll call at 7:04 pm. Public Comment Nancy Docktor of Pearl Street, and Precinct 1 Town Meeting Member, expressed her concerns about the use of funds not approved by Town Meeting for building projects. Angela Binda, also a Town Meeting Member, of Orchard Park Drive, also expressed her concern about the additional spending on the field house Floor project and noted that the discussion at Town Meeting was only about the Floor and bleachers. Chris Haley of 71 Tennyson Road reviewed the text of the article which read "for the purposes of making improvements, including full replacement of the floor at the Reading Memorial School Field House," and opined that the improvements, other than the scoreboard, fall within the purview of the article. Liaison reports Page 1 1 Marianne McLaughlin -Downing shared updates from the Select Board meeting. The Subsequent Town Meeting Warrant was closed, which includes a snow shoveling bylaw. There was an override discussion that focused on generating revenue by allowing valet parking, but due to concerns expressed by the Police Department, they decided they were not Interested in moving forward with it. The Select Board discussed the trash contract which will cost about $2 million. The Town will be receiving $80,000 and $16,000 from two oploid settlements. The Board voted to extend the RCTV contract for another three months. They were not able to appoint a representative to negotiate with the Burbank Ice Arena due to a 2-2 vote. John Sullivan provided an update on new growth items from the Community Planning and Development Commission (CPDC). They approved the mixed -use development on Main Street, which includes twelve housing units and 2,100 square feet of commercial space. They closed the hearing for the Primrose School on Main Street, but have not voted yet. Emily Sisson shared that the Council on Aging discussed strategies to notify residents of participation fees for programs once ARPA funds run out. Town staff is planning to develop an operational plan and working with a contractor to get some projections for operational costs for the Reading Center for Active Living (ReCAL). There was concern from Rec Committee members about a request to use Recreation funds for conservation projects. Ed Ross updated the Committee on the latest from the Killam School Building Committee. The project continues to be on budget and on time. Some site work will begin at the location soon. Outreach to neighbors, Killam parents, and the wider community will continue over the next few weeks and months. Geoffrey Coram shared updates from the School Committee. The School Meals Department received an award for their summer meal program. The School Department will be returning $50,000 to the General Fund and will be placing $225,000 Into the Special Education Reserve Fund. The School Committee had reservations about a proposed school at Mattera Cabin and did not approve their accreditation. Endri Kume noted that Reading Municipal Light Department (RMLD) appointed another Interim General Manager. The RMLD Board of Commissioners heard an update on the benefits of being part of Energy New England (ENE). They also had some capital purchases for two large bucket trucks for a total of $1.4 million. Joe Carnahan stated that the Community Preservation Act (CPA) Study Committee hosted a table at the Fall Street Faire, where they distributed lots of information. They also solicited feedback on what surcharge rate people would recommend, with most participants favoring 1%. Karen Gately Herrick of the Select Board provided an update to the Finance Committee. The Fire Department proposed raising fees to come more in line with other communities and raise revenue. The Board continues to discuss slowing spending to delay an override. She stated that an Important document was overlooked by the Killam Owner's Project Manager, potentially putting the town at risk of losing state reimbursement, but the issue has since been resolved. She praised the FINCOM Chair and Vice Chair for trying to draft a policy for project spending protocols. Discussion of policies and practices for projects that come in under budaet Chair Joe Carnahan recalled the presentation from the last meeting on the High School Field House Floor, and the various items included in it, and noted that several residents expressed their surprise at what was considered within the project scope. He and Emily Sisson prepared a draft policy intended to outline how the Finance Committee can help manage oversight of project funds. Page 12 The Committee focused on discussing the Field House renovation project and addressing concerns about project management and communication between Town staff and Town Meeting. They acknowledged that while a policy might not be the right tool for addressing these concerns, better communication and transparency could help manage Town Meeting's expectations on how approved project funds are spent, particularly when a project comes in under budget. Town Manager Matt Kraunelis noted a policy like this is likely not enforceable, but he appreciated the guidance in it and will work to ensure that in the future, presentations to Town Meeting are more descriptive and include Information about additional things that can be done should project bids come in under what was allocated by Town Meeting. Discussion of financial policy review Chair Joe Carnahan shared that he sent a memo to the Select Board this past Monday asking them to request the Financial Management Resource Bureau of the Division of Local Services to perform a free review of Reading's financial policies. It is a way to show the community that the Finance Committee Is committed to fiscal responsibility. The Select Board has not had the chance to discuss the matter yet, but Mr. Carnahan will report back. Future Aaendas/ Review agenda for Financial Forum on October S. 2025 Chair Joe Carnahan reviewed the proposed agenda for the upcoming Financial Forum on October 8'h, including public comment, presentation on free cash projections and financial forecasting, presentation on long-term financial pension and OPEB obligations, discussion on budget guidance, and a presentation by the CPA Study Committee. Other suggested topics include economic development outlook and prospects for new growth, and a discussion with school staff and the School Committee about the impact of federal events. Approve minutes for August 13, 2025 On a motion by Emily Sisson, seconded by Endri Kume, the Finance Committee voted 8-0-1 to approve the meeting minutes of August 13, 2025, as presented, with Joe McDonagh abstaining, as he was not present at that meeting. Roll call vote: Ed Ross - Yes, Joe McDonagh - Abstain, Geoffrey Coram - Yes, Mark Zarrow - Yes, John Sullivan - Yes, Endri Kume - Yes, Emily Sisson - Yes, Marianne McLaughlin -Downing - Yes, Joe Carnahan - Yes. On a motion by Geoffrey Coram, seconded by Marianne McLaughlin -Downing, the Finance Committee voted 9-0-0 to adjourn at 8:59 pm. Roll call vote: Ed Ross - Yes, Joe McDonagh - Yes, Geoffrey Coram - Yes, Mark Zarrow - Yes, John Sullivan - Yes, Endri Kume - Yes, Emily Sisson - Yes, Marianne McLaughlin -Downing - Yes, Joe Carnahan - Yes. Page 1 3