Loading...
HomeMy WebLinkAbout2026-02-04 Finance Committee Minutes6gTown of Reading Meeting Minutes Board - Committee - Commission - Council: Finance Committee Date: 2026-02-04 Building: Reading Town Hall Address: 16 Lowell Street Purpose: General Business Attendees: Members - Present: Time: 7:00 PM Location: Select Board Meeting Room Session: Open Session Version: Final Chair Joe Carnahan, Vice Chair Emily Sisson, Geoffrey Coram, Endri Kume, Joe MCDonagh, Marianne McLaughlin -Downing, Ed Ross, John Sullivan, Mark Zarrow (remote) Members - Not Present: Others Present: Town Manager Matt Kraunelis, CFO Sharon Angstrom, Assistant Town Manager Jayne Wellman, Operations Director Katie Gabriello, DPW Director Chris Cole, Bob Letacheur, Karen Gately Herrick, Karen Rose -Gillis (remote), Chris Haley (remote), Ron Powell (remote) Minutes Respectfully Submitted By: Jacquelyn LaVerde Topics of Discussion: This meeting was held in -person in the Town Hall Select Board Meeting Room and remotely via Zoom. Call to order and Welcome Chair Joe Carnahan called the meeting to order at 7:01 pm. Roll call: Mark Zarrow (remote), John Sullivan, Ed Ross, Endri Kume, Marianne McLaughlin - Downing, Joe MCDonagh, Emily Sisson, Joe Carnahan, Geoffrey Coram. Public Comment There was no comment from the public. Liaison Reports Geoffrey Coram stated that the School Committee is underway with the Superintendent search process. They are hoping to select the new Superintendent before the annual election in April. John Sullivan shared that the Community Planning and Development Commission (CPDC) discussed updates to the accessory dwelling unit (ADU) bylaw and ADU applications tripled In 2025, which may be some new growth. Endri Kume shared that Jason Small has been appointed as General Manager of the Reading Municipal Light Department. Page 1 1 Marianne McLaughlin -Downing stated that School Committee member Carla Nazzaro is not seeking reelection. However, fellow Finance Committee member Geoffrey Coram is running for School Committee. Joe Carnahan shared that the Community Preservation Act (CPA) Study Committee is preparing to present their recommendations to the Select Board at their next meeting on February 10ta. Aoaroval of Deficit Spending for snow and Ice CFO Sharon Angstrom explained that the Town is entering deficit spending on snow and ice, as the recent snowstorm exceeded the budget. A vote by the Finance Committee is needed to deficit spend, and the funds will be allocated at April Town Meeting to cover the deficit. The cost of snow removal to date is approximately $705,000, which is over the budgeted amount of $675,000. On a motion by Emily Sisson, seconded by Ed Ross, the Finance Committee voted 9-0 to approve deficit spending for snow and ice removal as presented. Roll call vote: Mark Zarrow - yes, Geoffrey Coram - Yes, John Sullivan - Yes, Ed Ross - Yes, Endri Kume - yes, Emily Sisson - Yes, Marianne McLaughlin -Downing - Yes, Joe MCDonagh - Yes, Joe Carnahan - Yes. Assistant Town Manager Jayne Wellman and Director of Operations Katie Gabriello presented plans for the future of the Pleasant Street Center and reviewed potential options for the building and procurement procedures. The Reading Center for Active Living (ReCAL), which will replace the Pleasant Street Center as a Senior Center, is scheduled to open in August 2027, and the Town is considering selling, leasing, or repurposing the building for various uses such as affordable housing, town office and/or storage space, an atheneum, or a community arts center. If the Town wishes to lease or sell the property, it will need to engage in competitive solicitation, though it will have Flexibility In how to structure a Request for Proposals (RFP). The initial feel from the Select Board favors a lease and not a sale of the property. Some Committee members expressed a preference to keep the building and lease it. Other Committee members expressed concerns about operating costs, maintenance, the space remaining vacant, and the Town's capacity to act as a landlord if the building is leased. Staff will report back to the Committee on the cost of operating the building. The Department of Revenue's Division of Local Services (DLS) offered a financial policy seminar, which was attended by several other towns, as well as some members of the Finance Committee and Select Board, and Town Manager Matt Kraunelis and CFO Sharon Angstrom. Mr. Kraunelis explained that the DLS teaches municipalities to write their own policies by hosting these workshops and providing templates for policies. He and Ms. Angstrom are reviewing Reading's policies to see which ones need to be refreshed. The Committee discussed prioritizing capital planning, reviewing and updating peer communities, impact of policies on bond rating, budgeting process, free cash use and reserves, and expressed their appreciation for Ms. Angstrom's budgeting practices and hard work. Birch Meadow Ilaht failure/replacement (Recreation) Emily Sisson stated that a nor'easter in October knocked the lights off two poles at the Birch Meadow softball field. The Recreation Administrator worked with RMLD and DPW to assess the situation and determined that four of the poles were damaged by the storm and had to be removed Immediately. An inspector Inspected the remaining poles and found that they were all leaning and past their useful life, which resulted in their removal as well. The Town Page 1 2 received a $25,000 insurance payment related to the pole failures which has been set aside for future lighting. quotes to replace the damaged poles came in between $70,000 and $95,000. The Recreation Committee and town staff decided not to replace the lights at this time, as enhanced lighting is part of phase three of the Birch Meadow Master Plan. However, nighttime use of the field is limited until the lights are replaced, impacting leagues including men's softball, youth soccer, youth lacrosse, and youth football. Ms. Sisson stated that she brought it to the Committee's attention in case there is a future unplanned capital expense perhaps at November Town Meeting, or next spring Town Meeting. The Recreation Administrator is working on getting quotes to tie into the new grid that was put in, and the current estimate is between $300,000 and $500,000. Future Agendas The Finance Committee will begin their weekly budget meetings beginning with the School Department budget on February 25'h. The following meetings will focus on the Town Manager's and Town department budgets, and votes on the budget and Town Meeting warrant articles. The committee requested a presentation on the bid process on the current capital projects, and will have a discussion on the Municipal Empowerment Act at future meetings. Approval of Prior Meeting Minutes: November S. 2025 On a motion by Emily Sisson, seconded by Joe McDonagh, the Finance Committee voted 9-0 to approve the meeting minutes from November 5th, 2025, as presented. Roll call vote: Mark Zarrow - Yes, Geoffrey Coram - Yes, John Sullivan - Yes, Ed Ross - Yes, Endri Kume - Yes, Emily Sisson - Yes, Marianne McLaughlin -Downing - Yes, Joe McDonagh - Yes, Joe Carnahan - Yes. On a motion by Emily Sisson, seconded by Ed Ross, the Finance Committee voted 9-0 to adjourn at 8:50 pm. Roll call vote: Mark Zarrow - Yes, Geoffrey Coram - Yes, John Sullivan - Yes, Ed Ross - Yes, Endri Kume - Yes, Emily Sisson - Yes, Marianne McLaughlin -Downing - Yes, Joe McDonagh - Yes, Joe Carnahan - Yes. Page 1 3