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HomeMy WebLinkAbout2004-08-25 Finance Committee MinutesRECEIVED Finance Committee Meeting TOWN CLERK" August 25, 2004 READING, MASS., 1004 OCT - I P 2: 28 The meeting convened at 7:30 p.m. in the Town Hall Conference Room, 16 Lowell Street, Reading, Massachusetts. Present were Chairman Jim Francis, Dick McDonald, Finance Committee Members Paul Bolger, Vice Chairman Chuck Robinson, Robert LeLacheur, Marsie West, Hal Torman (joined the meeting at 8:15 p.m.) and Town Manager Peter Hechenbleikner. Also present were School Committee Members Pete Dahl and John Carpenter, Town Meeting Member Bill Brown and RCTV. Approval of Minutes On motion by McDonald seconded by Robinson, the Minutes of June 30, 2004 were approved, as submitted, by a vote of 5-0-0. The notes from the Finance Committee Meeting scheduled for July 28, 2004 did not need approval and will be included in the Minute Book. Discussion/Action Items Reserve Fund Transfer Request - Elder/Human Services Study - The Town Manager presented a Reserve Fund Transfer request in the amount of $10,000 for a Elder/Human Services Study. He explained the details of the study. On motion by LeLacheur seconded by McDonald, the Finance Committee approved the Reserve Fund Transfer in the amount of $10,000 by a vote of 6-0-0. Bill Brown asked for time to speak. He felt that some of the reserve fund transfers do not meet the requirement of State law Chapter 40 because they are not emergencies and are not unforeseen. He cited the Finance Committee Reserve Fund Transfer just approved and also the one for the Hunt Park. Finance Committee Members felt that the transfer just approved was appropriate because it was not foreseen at the time that Town Meeting approved the Budget. There was a lot of discussion about the Hunt Playground Reserve Fund Transfer, and the Finance Committee felt that it was an appropriate process. The Town Manager reviewed the proposed ad hoc Committee to Review the Need for a Hospital/Urgent Care Facility. Bob LeLacheur volunteered for the committee and the Finance Committee will recommend him to the Board of Selectmen for that committee. Jim Francis reported that the Audit Committee met and the focus this year is on areas where cash is taken in. Pete Dahl who is also on the Audit Committee noted that other revolving funds like the cafeteria and the permit fees for the landfill will also be the focus. He also noted that the Audit Committee has asked the auditors to do a focused report in addition to the general audit. Finance Committee Meeting - August 25, 2004 - Page 2 The Town Manager reminded the Finance Committee of the school tours, and the School Committee did an update on the school projects. Pete Dahl noted that the High School new building foundation is complete and steel should be going up shortly. The building should be buttoned up in February. Chuck Robinson asked questions about the Sunset Rock Lane busing, and it was noted that information will be going out this week. There was discussion about the High School field and the process of getting the artificial turf field built. Pete Dahl suggested that we should look at funding sidewalks on Franklin Street out of the budget rather than trying to do another debt exclusion. He noted that the Director of Finance and Human Resources has been hired. With regard to "brainstorming," it was noted that the survey is completed and yielded good results. There was discussion on naming rights, and Pete Dahl felt that naming the schools in memory or honor of people should not be affected by naming rights. There was a question of whether a college would be able to co-locate at RMHS, and Pete Dahl noted that there have been some very preliminary discussions. It was suggested that as a fundraising effort, the seats in the Auditorium could be "sold." Pete Dahl also noted that the Auditorium is rentable, and suggested that the High School may be viable for corporate seminars, etc., although they might have to add air conditioning to do that. The building is set up to install air conditioning in the future. . Questions have been raised about whether other schools have been entrepreneurial. There was discussion about distance learning centers. There were suggestions about selling bricks as a fundraiser just as Parker and Coolidge did. There were questions about whether or not fundraisers should be hired. Pete Dahl will take some of these issues back to the School Committee for review. Chuck Robinson felt that some of these should be pursued. The Town Manager noted that sometimes there is sensitivity in the community to outside fundraisers and caution should be exercised in that manner. There was discussion about the proposal to raise funds for an additional gym, and it was noted that the Athletic Director would bring back a proposal for how to proceed. Consensus was that we should keep naming rights on the list of opportunities to raise additional funds. There is also discussion about the surplus capacity in services. T-TAC will present their overview of technology in the community at a Financial Forum. The Town Manager noted that our Chapter 90 funds will be higher than previously, and that there may be a supplemental budget with lottery distribution sometime this Fall. There was discussion about the SBA Program and how the debt structure would work out. If we have information by the time of the Financial Forum, we will present that also. Finance Committee Meetin-AAu_gust 25, 2004 - Page 3 Pete Dahl noted that improvements have been made to the Killam School with savings from the school operating budget. At the Financial Forum, we will also discuss the FY 2006 Budget and process and discuss capital. The Financial Forum will be on October 13, 2004 at a place to be announced. The Reading Municipal Light Board will be invited. On motion by McDonald seconded by Robinson, the Finance Committee voted to adjourn their meeting of August 25, 2004 at 10:00 p.m. by a vote of 7-0-0. Respectfully submitted, tecet L