HomeMy WebLinkAbout1997-06-11 Finance Committee MinutesFinance Committee Meeting
June 11,1997
Y ,RECEIVED
'l'o%'N CLERK
-READlN!C, MSS.
Juli Z5 12 165
The Finance Committee met at 8:00 p.m. in the Conference Room at the Library. Present were
Chairman Jim. Keigley, Vice Chairman Carol Grimm, Finance Committee members Gerry
MacDonald, Rocco Nenarella, Nate White, Catherine Martin, Richard McDonald, Tom Green,
Town Manager Peter Hechenbleikner and Secretary Maureen Vierra. Also present were David
Lee, Ted McIntyre, Dan Wall, Deidra Hanley and Bob Hillard.
Approval of Minutes:
On a motion by MacDonald seconded by McDonald the Finance Committee voted to approve the
minutes of June 4th by a vote of 6/0/0.
Dan Wall from Richard D. Kimball Co., Inc. was present to answer questions on where the
differences were between the cost estimate presented to the Finance Committee and the actual
contractor bids received to renovate the HVAC system in the Library. He said there were three
major errors in the original cost estimate. The piping was estimated at $30,000 would actually
cost approx. $65,000.00; general carpentry was underestimated approx. $20,000.00 because of
the detail work in the molding etc.; and the demolition work was underestimated approx.
$12,000.00. In addition, the whole project was underestimated 10-15%. This was primary due
to market conditions. Contractor's rates are higher than usual because of supply and demand. He
also wanted to stress that Richard D. Kimball Co., Inc. are engineers, not contractors.
His firm also provided the cost estimates for the HVAC projects planned in FY98 for Town Hall
($83,000.00) and the Fire Station ($39,000.00). FinCom members expressed their concern that
these cost projections may also be underestimated.
On a motion by Martin seconded by McDonald the Finance Committee voted to: incumber the
$212,000.00 from the FY97 budget, award the contract after July 1, 1997, include a change
order increasing the chiller from a 30 ton to a 50 ton, use funds from capital plan appropriated for
Town Hall and Fire Station projects to get to the $309,796.00 needed to complete the project and
bid out the Fire Station and Town Hall Projects prior to the next Town Meeting. This motion
was approved by a vote of 5/3/0.
Although the Finance Committee members agreed this project was a priority, some would not
support the project moving forward because the estimate presented at Town Meeting differed so
much from the actual costs it will incur. Jim Keigley vowed that the Finance Committee would
take any and all necessary steps to avoid similar situations in the future.
Reserve Fund Transfers:
On a motion by Grimm seconded by MacDonald the Finance Committee voted to approve the
transfer of $10,500.00 from the reserve fund into account 9 01-541 for the conversion of the
donated van. This motion passed by a vote of 8/0/0.
Liaison ReForts:
Richard McDonald recently attended the Business Park Committee meeting. He reported that the
project is moving forward and the traffic studies are scheduled to begin soon. They hope to get
the project out to bid this fall.
Jim Keigley asked the Finance Committee members to think about which departments they would
like as their liaison assignment. These assignments will be made once the new Finance
Committee members are chosen.
On a motion by MacDonald seconded by Green the Finance Committee voted to adjourn at 9:30
p.m. The next meeting is scheduled for June 25, 1997.
Respectfully submitted,
c
j
Jim Keigley
Chairman