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HomeMy WebLinkAbout2000-03-29 Finance Committee Minutes( Finance Committee Meeting i~ . LI QED Executive Session TOWN CLERK. March 29, 2000 READING, MASS; The meeting convened in the Conference Room, at the Town Hall, 16 Lowell Street, Reading Massachusetts. Present were Chair Carol Grimm, Vice Chair Richard 2001 FEB 2 P 4i 0 `I McDonald, FinCom Members James Francis, Robert LeLacheur, Neil Cohen, Mary Grimmer, and Catherine Martin, also present were Dr. Harutunian, Pete Dahl, Jim Keigley and Town Counsel H. Theodore Cohen. Dr. Harutunian stated the school committee did not come forward with a lease to RCTV and RCTV has moved out. They have not heard back from REAP's attorney. Carol Grimm stated there is no late fee in the lease. The Finance Committee promised Town Meeting they would review the leases. The lease would include accurate footage, standard rental terms, current market rental rates, and insurance. After 10 days delinquent payment the lease could be terminated. Each lease is under $25,000 so it does not have to go out on bid. On a motion by Cohen, seconded by Martin, the Finance Committee voted to end the executive session. All members voted in the affirmative. ( Respectfully submitted, oy Mohr Recording Secretary Finance Committee Meeting March 29, 2000 The meeting convened at 7:30 p.m. in the Conference Room, at the Town Hall, 16 Lowell Street, Reading Massachusetts. Present were Chair Carol Grimm, Vice Chair Richard McDonald, FinCom Members James Francis, Robert LeLacheur, Neil Cohen, Mary Grimmer, and Catherine Martin; also present were Beth Kleipis, Dr. Harutunian, Pete Dahl, Jim Keigley, Sid Bowen, and H. Theodore Cohen. _ j Sid Bowen, the architect for the Barrows School renovation, described the project. The addition will include six classrooms, an elevator, a gymnasium, and a new entrance. The building will be handicap accessible and includes a ramp. There have been cost increases in both the construction cost and the new window costs. The students will be in school during the construction prolonging the renovation to approximately 22 months. The cost of the renovation is $3.3 million with additional "soft costs" for a total of $5,545,000. If any reductions were made this project would not meet state standards. The construction would begin the summer of 2001 and be completed the fall of 2003. Pete Dahl stated this project is reimbursable from the SBAB. Beth Kleipis reviewed the capital plan. $10,000 for irrigation work has been removed from the Capital Improvement Plan that the Town would perform as part of the Barrows project. The capital plan, including the Barrows School renovation, nearly balances. On a motion by James Francis, seconded by Richard McDonald, the Finance Committee voted to approve Article 7, Amending FY 2001 - 2009 Capital Improvement Program. The motion was approved by a vote of 7-0-0. On a motion by Catherine Martin, seconded by Richard McDonald, the Finance Committee voted to approve Article 12, as presented, Approving Additional Debt - Barrows School for the additional amount of $515,000. The motion was approved by a vote of 7-0-0. On a motion by Cohen, seconded by Martin, the Finance Committee voted to go into executive session to discuss the leases in Article 16. All members voted in the affirmative. On a motion by Cohen, seconded by Martin, the Finance Committee voted to end the executive session and continue their open meeting. All members voted in the affirmative. Dr. Harutunian will review the budget shortfall April 1, 2000. He still anticipates a $400,000 shortfall. This includes $100,000 for staring, $25,000 - $35,000 for custodian overtime, and the rest for SPED. Pete Dahl stated the SPED was knowingly under budgeted with the anticipation of expected State funding, which was received. On a motion by Neil Cohen, seconded by Robert LeLacheur, the Finance Committee ( voted to approve the minutes of February 9, 2000 by a vote of 6-0-1. Finance Committee March 29, 2000 page 2 On a motion by Neil Cohen, seconded by Robert LeLacheur, the Finance Committee voted to approve the minutes of March 22, 2000 by a vote of 7-0-0. Carol Grimm reviewed the list of proposed budget reductions. The Finance Committee has some concerns with the financial implications on the reductions made. The Finance Committee will request the Selectmen attend the April 5, 2000 meeting to discuss their concerns. On a motion by Neil Cohen, seconded by James Francis, the Finance Committee unanimously voted to adjourn their meeting at 10:00 PM Respectfully submitted, oy Mo Recording Secretary