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Finance Committee Meeting
September 10, 2008
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1009 AUG IP The meeting convened at 7:30 p.m. in the Conference Room, 16 Lowell Street, Reading,
Massachusetts. Present were Chairman George Hines, Vice Chairman Andrew
Grimes, Committee members Barry Berman, David Greenfield, Marsie West, Matt
Wilson, Tom White, and Jay Tangney. Also present were Assistant Town
Manager/Finance Director Bob LeLacheur and School Committee members Chuck
Robinson and David Michaud.
George Hines called the meeting to order at 7:30 p.m. First order of business was the
approval of Minutes dated August 6, 2008.
On Motion by David Greenfield seconded by Andrew Grimes to accept the minutes
of the meeting dated August 6, 2008. Fincom voted 7-0-1
Liaison Reports
Tom White reported he spoke with Ruth Urell of the Library. They discussed the
following:
New Book drop off - Ruth Urell reported that it is off to a good start.
Hiring for Sundays
Retainer wall work is under the way.
Trustees to ask for a new circulation system
Architectural study not completed.
Bob LeLacheur reported that the Library will update the estimated cost of the circulation
system in the next few months, for FYI 0 or FYI 1 funding.
Jay Tangney spoke with Economic Development. He received an update of the square
and was told that they are working on the alleyways between the stores, maybe painting a
mural. He will attend a walking tour on September 17, 2008. He reported it was very
positive.
Barry Berman attended the School Committee meeting with George Hines. The first
round of the 09 budget was presented. They did a building by building analysis. They
went through it in terms of what they anticipate capital needs will be in the future as well
as short term needs. The board discussed what is included in capital. Chuck Robinson
reported that Mary Delai and Joe Huggins did a very good presentation. The board
discussed the Boston Globe article that reported that new stadiums need so many
bathrooms per person. Chuck Robinson reported that Reading is okay. Barry Berman
also reported that the new teachers were introduced at the meeting.
Budget Review
George Hines reported that the School Department did give the board their year end close
out that was discussed at the last meeting and asked Bob LeLacheur if there was anything
he wanted to go over year end close out. Bob LeLacheur reported that Town Accountant
Gail LaPointe is about 4 weeks behind schedule but will have the information before the
Financial Forum.
Old Business
George Hines moved onto Old Business, Mission Statement. Marsie West made a few
changes and added a couple of items for the board to review. The board discussed how to
describe the roll of the Finance Committee. Bob LeLacheur will forward a copy of the
Selectman's and the School Committee's mission statement for info. George Hines
asked everyone to look at it again and would like to close it out and adopting it at the next
meeting.
Capital Planning Process, George Hines did not get a chance to meet with the chairman
but will get that done.
Library Reserve Fund Emergency Transfer request, the board does not know at this time
where the project stands.
Bob LeLacheur discussed the articles for the November Warrant that pertains to Fincom:
Article 3 - Adding new items to the Capital Plan, does not have a list yet. Bob
LeLacheur gave an overview of Capital. He reported that there is $1,150,000 of
November capital requests.
A question was asked regarding the progress of the Tennis Courts. Bob LeLacheur
reported that this could go into litigation. The course of action the contractor is taking,
patching, is unacceptable to the Town.
Article 4 - On page 7, 8 and 9 of the agenda Bob LeLacheur discussed the FY 2009
budget transfers. On page 21 and 22 of the agenda the board discussed the grant received
for the Town to have a shuttle service:
Article 5 - To authorize payment of Fiscal 2009 bills remaining unpaid for previous
fiscal years.
Article 6 - The Town received $350,000 from the state for the 40R Gateway
Development. If the project does not go forward the Town could owe the funds back to
the State. This money needs to be put into a stabilization account.
Article 7 - There is a surplus of $42,869 that needs to be voted on to move the surplus
into the water reserves.
Article 8 - To establish a revolving fund for the Suburban Mobility Grant.
Article 9 - Performance Contracts. Bob LeLacheur explained to the board how a
performance contract works.
Article 10 - To authorize debt for the roads. Bob LeLacheur reviewed page 20 of the.
agenda.
Article 11- To authorize $500,000 to purchase a new fire engine.
Article 12 - To authorize the purchase of land. Bob LeLacheur reported this is still in
negotiations.
Article 13 - To allow the Town to stop collecting any Personal Property tax with a value
less than $2,000 or $3,000. This final amount. has not yet been decided by the Board of
Assessors.
Article 14 - Bob LeLacheur skipped this article.
Article 18 - Housekeeping issue. To raise the demand charges on late bills.
Bob LeLacheur mentioned that the board is meeting on October 1 and 15 and that maybe
another night is needed. George Hines tentatively set up a meeting for October 9.. Marsie
West suggested that a time limit be put on presentations for the upcoming meetings.
George Hines reported the next meeting is October 1, 2008 at 7:15 PM.
On motion by Marsie West seconded by David Greenfield the meetinlz was
adjourned at 9:35 PM on a vote of 8-0-0
Respectfully submitted,
Secretary