HomeMy WebLinkAboutLight Comm. 10/18/2021Mansfield Municipal Electric Department RECEIVED
Minutes of Light Commissioners Meeting: l Ml ERKS OFFICE
October 18, 2021
2022 FEB -2 A l: S9
Present: Chair Frank Delvecchio, Vice Chair Jess Aptowitz, Clerk Neil Rhein Commissioner
Mike Trowbridge, Commissioner Steve Schoonveld and Light Dena t%irlI—Joseph
Sollecito r' ' ', (=-
The meeting was held at the Mansfield Town Hall Room 3AB and called to order at 5:35 PM
followed by the Pledge of Allegiance.
A complete copy of the Board packet containing all documents that are referenced in the
minutes is on file at the Mansfield Municipal Electric Department office.
Chair Delvecchio stated that agenda items 2 and 3 regarding the MMED Manager's contract
were being moved to the end of the meeting.
Citizen Comments — none
Motion: To approve minutes of the September 20, 2021 Light Commissioners meeting
(Rhein/Aptowitz) Passes 510
MMED Audit for year ending June 30, 2021 — Manager Sollecito introduced Michael
Nelligan, CPA/Partner from Powers and Sullivan, who would be reviewing the MMED audit
report for year ending June 30, 2021.
Audit Committee Chair Kris Moussette opened the Audit Committee meeting.
Mr. Nelligan said that he does a stand alone report for MMED as the Town's audit report is
never ready on time. He said that MMED's report is ready and he is looking for approval this
evening.
Mr. Nelligan said that the audit was done remotely and that they had everything they needed
from MMED in a timely manner. He reported that MMED's net position decreased for the year
by $84,000 compared to an increase of $732,000 in 2020. This was due to a change in monies
coming from MMWEC. Operating income was $921,015 and MMED has no debt. Receivables
were down from the previous year and inventory was about the same as the prior year. Mr.
Nelligan pointed out that MMED has no flexibility with the pension liability but they do with
the OPEB. Revenues were down mostly because of closure of businesses due to COVID. He
said that no new notes were added to the audit report this year.
Members of the Audit Committee, Chair Kris Moussette and Mike DeSamis were in attendance
to give their approval. Vice Chair Aptowitz, also a member of the Audit Committee, said he
was comfortable with moving things along. He said that he has seen these audits for years and
is very comfortable with Mr. Nelligan.
Motion: To approve the MMED Audit for the year ending June 30, 2021 as amended with
correction of the calculation issues noted by Michael Nelligan
(Moussette/DeSantis) Passes 3/0
Motion: To close the Audit Committee meeting
(Moussette/Aptowitz) Passes 3/0
Motion: To accept the MMED audit as presented and approved by the Audit Committee
(Trowbridge/Aptowitz) Passes 5/0
Energy Projections & Revised MMED Power Forecast — Mayhew Seavey of PLM gave an
energy market update. He said that over the past six months, the futures contract price of energy
for the upcoming winter has almost tripled. Major factors are increased demand, skyrocketing
global energy prices and market speculation. He said that firm forward prices are far above any
spot market prices. MMED has a hedge in the Stony Brook units which is less expensive energy
than the current forward market price. Mr. Seavey recommends no winter hedging until the
forward price falls significantly below the Stony Brook price.
Grant of Rights — Manager Sollecito explained that the Grant of Rights had been previously
omitted from MMED's Customer Service Terms and Conditions policy book. He was
suggesting that it should be added to avoid future easement problems and said that it has been
reviewed by legal counsel.
Motion: To approve the new 108 — Grant of Rights
(Trowbridge/Rhein) Passes 5/0
Motion: To enter into Executive Session at 6:20 PM for the following reasons and to
return to open session
a. Pursuant to M.G.L.Ch. 164, Section 47D and M.G.L. Ch. 30, Section 21,
Exemption 2, to conduct strategy sessions in preparation for negotiations with
nonunion personnel or to conduct collective bargaining sessions or contract
negotiations with nonunion personnel.
(Rhein/Aptowitz) Passes 5/0
Roll call vote: Delvecchio-aye; Aptowitz-aye; Rhein -aye; Trowbridge -aye and
Schoonveld-aye
The Board returned to open session at 7:10 PM.
Chair Delvecchio reported that they do not have a completed contract as of yet with Manager
Sollecito. He said things went well in executive session and there are just some small changes
that need to be made. He believes they will have a finalized contract to present to the ratepayers
as of the next meeting.
Motion: To adjourn at 7:11 PM
(Schoonveld/Trowbridge) Passes 510
Respectfully submitted: Jacqueline Lee
Signature of Clerk Date of Approval