HomeMy WebLinkAbout2008-04-09 Finance Committee MinutesN ~
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Finance Committee Meeting
April 9, 2008
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The meeting convened at 7:05 p.m. in the Conference Room, 16 Lowell Street, Reading,
Massachusetts. Present were Chairman Andrew Grimes, Vice Chairman Marsie
West, Committee members George Hines, Barry Berman, Tom White, and David
Greenfield. Also present were Assistant Town Manager/Finance Director Bob
LeLacheur and School Committee member Chuck Robinson.
Andrew Grimes called the meeting to order at 7:05 PM. Bob LeLacheur reviewed the
final numbers on snow and ice on page 2 and 3 of tonight's agenda. Current year deficit
is $592,014.25.
On motion by Andrew Grimes seconded by Barry Berman to approve the chanIzes
to Article 5. Fincom voted. 5-0-0. At this time Marsie West was not in attendance.
On page 5 of the Agenda it states that the Town of Reading will be receiving $445,122
for Chapter 90. This is reflected in Article 8 of the Town Warrant.
On motion by David Greenfield seconded by GeorIze Hines to approve Article 8.
Fincom voted 5-0-0. At this time Marsie West was not in attendance.
On page 6, Bob LeLacheur reviewed Article 9 of the Town Warrant (the list of vehicles
that will be disposed of).
On motion by Andrew Grimes seconded by Tom White to approve Article 9.
Fincom voted. 6-0-0
Bob LeLacheur reviewed and answered questions regarding the Town of Reading
Investment Policy. Pages 16 -26 of tonight's agenda.
A memo from Ted McIntire was handed out regarding the turf field at Parker. Bob
LeLacheur reviewed the 3 bids received. A discussion ensued regarding funding for this
project.
Bob LeLacheur reviewed debt with the board. Reported that debt has been refinanced.
Received $7.1 mil for the MSBA, page 54 of the agenda is a letter from the MSBA. Page
55 of the agenda Bob LeLacheur reviewed the budget implications.
Minutes
On motion by Andrew Grimes seconded by David Greenfield to accept the minutes
of the meetinIZ, January 23, 2008, as presented. FINCOM voted 5-0-1. Marsie West
abstained.
On motion by Andrew Grimes seconded by Tom White to accept the minutes of the
meeting, February 13, 2008, as presented. FINCOM voted. 5-0-1. Marsie West
abstained.
On motion by Andrew Grimes seconded by George Hines to accept the minutes of
the meeting, February 28, 2008, as presented. FINCOM voted 6-0-0.
On motion by Andrew Grimes seconded by Barry Berman to accept the minutes of
the meeting, March 5, 2008, as presented. FINCOM voted 6-0-0.
On motion by Andrew Grimes seconded by Barry Berman to accept the minutes of
the meeting, March 12, 2008, as presented. Tom White had some comments. Changes
will be made. FINCOM voted 6-0-0
On motion by Andrew Grimes seconded by Barry Berman to accept the minutes of
the meeting, March 19, 2008, as presented. Tom White had some comments. Changes
will be made. FINCOM voted 5-0-1. Marsie West abstained
On motion by Andrew Grimes seconded by George Hines to accept the minutes of
the meeting, March 26, 2008, as presented. FINCOM had some comments. FINCOM
voted to accept the minutes as amended 6-0-0.
Andrew Grimes reviewed the schedule of meetings. Bob LeLacheur reported that the
Warrant is on the website. There will be a special Town Meeting late June regarding the
water treatment demolition and the chlorination project going out to bid. Andrew Grimes
asked the committee if they have any ideas they would like to discuss in greater depth so
they can put together an agenda. George Hines would like to discuss the investment
policy. Tom White would like to have more discussion regarding the budget process. At
this time a discussion ensued amongst the board members regarding the budget process.
Bob LeLacheur reported that there will be a meeting next week with a 'consultant
regarding health insurance.
The board members discussed the schedule of meetings for the summer months. The
next meeting is scheduled for Wednesday, May 14.
On motion by Andrew Grimes seconded by Barry Berman the meeting was
adiourned at 8:15 PM on a vote of 6-0-0
Respectfully submitted,
Secretary