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Home My WebLink About1992-07-15 Finance Committee Minutesi M I N U T E S R E A D I N G F I N A N C E C O M M I T T E E z.- D U L Y 1 5 1 9 9 2 2 0~, This meeting of the Reading Finance Committee was held in the Conference Room of Town Hall. MEMBERS PRESENT: Dick Coco, Chairman Fred Van Magness, Vice Chairman Liz Greene Jim Kiegly Gerry Mac Donald Carroll Mac Millan Bill Murphy Nate White OTHERS PRESENT: Peter Hechenbleikner, Town Manager Phil Pacino, RMLD Russ Graham, Chairman, Board of Selectmen 1. CALL TO ORDER *This meeting of the Reading Finance Committee was called by order by Chairman Dick Coco at 7:45 PM. 2. GENERAL ANNOUNCEMENTS/DISCUSSIONS A. Welcome to dim Kiegly, newest member of Fincom *Chairman Coco introduced Mr. Jim Kiegly as the newest member of Reading's Finance Committee and welcomed him.to this Board. B. Fincom Meetings Each Month *Chairman Coco initiated the schedule of Finance Committee meetings to be every 4th Wednesday of the month. 3. DISCUSSION AND VOTE TO ADOPT FINCOM POLICY FOR THE CAPITAL IMPROVEMENT SUBCOMMITTEE POLICY *The proposed policy establishing a capital improvements advisory subcommittee of the Finance Committee for the Town of Reading, Massachusetts was discussed and available for reading. *Phil Pacino,Chairman of the Bi-Law Committee, spoke of being in agreement with the policy. Some changes would be made in the policy` document. Phil clarified the wording of the Charter in the policy establishing a capital improvement advisory subcommittee of the Finance Committee. *Mr. White indicated this adding provisions to the Charter *Mr. Hechenbleikner advised that this is the advisory policy. Peter sees no conflict whatsoever. *Chairman of Selectmen spoke about this policy as being a very important gain and long term gain. Numerous areas are being neglected . Russ spoke of presenting to Town Meeting the reports on the Annual Town Warrant of subcommittees. *Matt Cummings spoke of Capital Plan being in desperate shape. Capital requirements are in need of millions of dollars and space requirements are terrible because of enrollments. *Carroll Mac Millan spoke of charter change. *Bill Murphy had further questions on Bi-Laws and admitted to being lost on this issue. *Peter explained that there does not have to be any Finance Committee members on the subcommittee. *Discussion ensued between Peter Hechenbleikner and Russ Graham. *Bill Murphy talked of a good capital plan as being most important and Mr. Kiegly agreed. *Fred Van Magness would like to see an amendment to the policy. MOTION: Gerry Mac Donald moved to approve adoption of Fincom policy for the capital improvement subcommittee policy and Bill Murphy seconded this move to.approve. DISCUSSION: MOTION: Fred Van Magness moved to insert at the end of paragraph #2 "and it be Chaired by Chairman of the Finance Committee. -2.-- VOTE: 2 - - APPROVED MOTION: Fred moved to insert in Paragraph #3: In addition, the -2- subcommittee shall review the Warrant Articles not in- cluded in the proposed capital improvement program. Insert in the last paragraph: and a prioritized capital improvement program. VOTE: 5 -,3 - 0 APPROVED MOTION: Fred moved to strike Capital Budget from the last paragraph and Bill Murphy seconded this move. VOTE: 5 - 3 - 0 APPROVED MOTION: Bill Murphy moved to close public hearing and Fred Van Magness seconded this move to close. VOTE: 8 - 0 - 0 APPROVED COMMENTS: Carroll Mac Millan indicates that what is or- iginally written he feels is best. Phil Pacino reads his first motion to Nate MOTION: Nate moved by-law change of language of docu- ment and Fred seconded this move to change. VOTE: 8 - 0 - 0 APPROVED MOTION: Fred Van Magness moved to approve policy committee has submitted and amended dune 22; 1992 and Gerry seconded. VOTE: 7 - 0 - 1 APPROVED WITH NATE WHITE ABSTAINED MOTION: Carroll MacMillan moved to place Bill Murphy as a Member at Large. MOTION: Fred Van Magness moved to place Nate White as a Member at Large. MOTION: Fred moved to place Gerry Mac Donald as a Member at Large and Bill Murphy seconded this move. VOTE: 8 - 0 - 0 APPROVED 4. RESERVE FUND TRANSFERS FOR FY1992 EXPENDITURES -3- l MOTION: Fred Van Magness moved to approve transfer of funds for animal control in the amount of $316.68 and Carroll Mac. Millan seconded this move to approve. VOTE: 8 - 0 - 0 APPROVED MOTION: Fred Van Magness moved to approve the transfer of funds for General Services in the amount of $855.20 and Carroll Mac Millan seconded this move to approve. VOTE: 8 - 0 - 0 APPROVED MOTION: Fred Van Magness moved to approve the transfer for Indem. Police/Fire in the amount of $17,650.66 and Gerry Mac Donald seconded this move to approve. VOTE: 8 - 0 - 0 APPROVED 1 5. RESERVE FUND TRANSFERS FOR FY1993 PROPERTY REVALUATION MOTION: Nate moved to approve the transfer for Assessors Consulting Services in the amount of $14,800 and Gerry Mac Donald seconded this move to approve. VOTE: 8 - 0 - 0 APPROVED DISCUSSION: Fred is not at all happy with spending Reserve Fund money this early in the year and does not want to approve unless the $20,000 will be replenished to the Reserve Fund in the Fall. Discussion of the extensive search for an Assessor. Bill Murphy indicated that the Assessors said that this transfer would-,be coming. Gerry Mac Donald ask-e~d if any "package deal" had been tried before this and Dave Nugent then spoke on behalf of the Assessors. i Carroll Mac Millan asked a tax rate question. -4- r MOTION: Nate White moved to approve the transfer for Assessors Consulting Service in the amount of $6,000 and Gerry Mac Donald seconded this move to approve. VOTE: 8 - 0 - 0 APPROVED 6. SALE OF SURPLUS FIRE DEPARTMENT PUMP TRAILER *The Fire Chief is requesting permission to dispose of an olde "trailer pump" in very poor condition. It is a homemade unit, dating back to the 19401s. it is a small tow trailer with a small gas engine and fire pump mounted on it. It has not been used in twenty years. It was originally used to tow into remote wooded areas to fight brush fires. It has been sitting next to the Fire Alarm shed at the Nike site for many years and is in total dis-repair. A fire buff,and collector from North Reading has expressed interest in acquiring it and rebuilding it. It is the chief's opinion that it is not worth more than scrap value, but he would like to dispose of it in an appropriate and proper manner. MOTION: Nate White moved to approve disposal of surplus equipment and Gerry Mac Donald seconded this move. VOTE: 8 - 0 - 0 APPROVED 7. OTHER BUSINESS A. Update on Review/Discussion on Water/Sewer Accounts *Fred stated that plans had already been laid out for the Water and Sewer Accounts from Dick Foley, so the commitment has been done. *Carroll MacMillan indicated his unhappiness with the reviews of the three sub-committees. *Chairman Coco indicated that progress had been made and that the Chairman feels that we have made sufficient progress. B. Date for the Next Meeting (Fourth Wednesday of the Month) for Finance Committee *August 26: 1992 has been designated as the next date at which the Reading Finance Committee shall meet. C. Progress Billing for Professional Assistance MOTION: Gerry Mac Donald moved to approve $13,000 for Peat Mar- wick payment and Nate White seconded this move. VOTE: 6 - 2 - 0 APPROVED DISCUSSION: Carroll Mac Millan indicated he would pay nothing. Bill Murphy indicates here a re-examination of this is in order. 8. ADJOURNMENT MOTION: Fred Van Magness moved to adjourn this meeting of the Reading Finance Committee at 9:32 PM. this move to adjourn was seconded by Mr. Mac Donald. VOTE: 8 - 0 - 0 APPROVED *This meeting of the Reading Finance Committee was then adjourned at 9:32 PM. Respectfully submitted, Sue Finn, Secretary /sf 07/20/92 -6-