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HomeMy WebLinkAboutFin Comm 06/10/2020Finance Committee Meeting Minutes June 10, 2020 ED `, '�; C hel DeIrrk� Present: Mr. Walter Wilk, Chairman; Mr. Brian Eagle, Vice -Chairman; Mr. Scott Feely; Mr. MicSantis; Ms. Kathleen Aguiar; Ms. Sara Walsh; and Mr. Jack Cooney, Clerk 12 A Also Present: Mr, Kevin Dumas, Town Manager; Mr. Barry LaCasse, Assistant Town Manager/[Pinance Director; Mr. Matthew Violette, Town Accountant Not Present: None 1. Call the Finance Committee meeting to order and review the agenda Chairman Wilk called the meeting to order at 7:36 pm. 2. Review and vote on revised Pandemic fiscal policy Ms. Walsh stated that the policy was discussed the Select Board meeting the prior evening and one of the issues was using the term "policy' vs. "guideline". It was also suggested that specific percentages be taken out. There was also concern that the affected funds may be overpaid but Ms. Walsh ensured that this was already addressed so that would not happen —the funds would only be made whole and nothing extra would go into them because there was already a clause to not go over the amount in the consensus budget. Ms. Walsh further stated that the Select Board agreed in principal but not in specifics. Chairman Wilk expressed his concern that if the policy not put into effect then replenishment of the stabilization fund, etc. will get pushed to the back burner when money does become available. Mr. Cooney stated that "guidelines" are typically looser in nature and give more wiggle room than "policies". Mr. Dumas explained that due to our form of government it would not be until at least fall Town Meeting that any money would be replenished to the funds even if it became available before then. He also stated that having a "Memorandum of Agreement" between the three boards would perhaps be better than a "policy". He further stated that overpayment was a concern but Ms. Walsh stated again that it was already addressed in the policy. Mr. Eagle stated that he would not be able to support the budget if this agreement was not in place. Ms. Aguiar asked if the stabilization fund affected the town's bond rating and Mr. Dumas said yes but all towns are using reserve funds currently to fill any budget gaps. Chairman Wilk asked Ms. Walsh to update the current document to reflect the changes discussed and share with the Select Board and School Committee and ask for any further comments or feedback so that FinCom can vote on it at the next meeting. 3. Review FY21 Budget Mr. LaCasse reviewed the consensus budget with the Finance Committee. He stated that the town and the schools worked to come up with the necessary cuts to their budgets (approximately $582,000.00 each). Ms. Aguiar asked about the two week "holiday" from health insurance and Mr. LaCasse explained that it was a refund from the town's insurer in the amount of approximately $400,000.00. Mr, Eagle asked about the Town Manager's personnel expenses line item and Mr. LaCasse explained that five out of the town's six labor union contracts were up for negotiation and this was a place holder for that additional expense. Chairman Wilk asked Mr. Dumas and Mr. LaCasse if they were comfortable with the numbers as presented and they stated that they were. Mr. Dumas further explained that the town had requested $2.1 million from the CARES Act for COVID-related expenses. Mr. Eagle asked if this figure was from the state and Mr. LaCasse explained it was based on population and 25%would come from FEMA and the remainder from the CARES Act. Finance Committee Meeting Minutes June 4, 2020 Page 1 4. Preparation for June 23 Town Meeting Mr. Dumas explained that Town Meeting would be held outside at the Xfinity Center on June 23, 2020 with social distancing and other COVID measures in place. The chairs of the Boards will make their usual presentations to the attendees. He further stated that prior to that date there would be a virtual public meeting to review the budget with himself, the superintendent and all of the department heads available to answer questions from the public so this would not have to be done the night of Town Meeting. This virtual meeting is scheduled for June 10, 2020 at 4:30 p.m. Mr. Eagle requested that members of FinCom forward him any suggestions for their presentation at Town Meeting as soon as possible. 5. Any items not known within 48 hours None. 6. Adjourn Motion: To adjourn Finance Committee meeting of June 4, 2020 (Feely/Eagle) at 8:37. Pass 7:0 John Cooney Finance Committee Clerk Signature Minutes Clerk Signature Minutes Prepared by Mary Dalton Date Date Finance Committee Meeting Minutes June 4, 2020 Page 2