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HomeMy WebLinkAboutFinance Comm 04/17/2025Town of 1Mlanfield 6 Park Isom, Mat sfreld, Massa,busetts 02048 Finance Committee � ��'� F�CE A c� 50 Present: Ms. Sara Walsh, Chair; Mr. Scott Feely, Vice Chair; Mr. Ryan Martin;;.CJerk; and Mr. Jack Cooney were present in the Meeting Room 3 A/B at Town Hall. Mr. Matthew Violette; Assistant Town Manager/Finance Director was also present. Ms. Melinda Tarsi-Goldfien was not present at the start of the meeting but arrived at 6:05PM. Not Present: Mr. Michael Flaherty and Ms. Greta Thurston Opening Meeting 1. Open Meeting Ms. Walsh called the Finance Committee meeting to order at 7:04PM. She then read the broadcast message stating that the meeting was being broadcast live and recorded. She also offered congratulations to Greta Thurston and Kostas Loukos on the birth of their daughter earlier today. 2. Meeting Minute Discussion and Consideration a. March 20, 2025; March 25, 2025; March 26, 2025; April 2, 2025 Motion: To approve the March 20, 2025; March 25, 2025; March 26, 2025; April 2, 2025 Finance Committee Meeting Minutes. (Feely/Cooney) Passes 4:0 Financial Updates 3. FY25 Financial Update a. General Update Mr. Violette provided an update to the Committee stating that as of March 315t the fiscal year is seventy-five percent complete. He stated that revenues across the Enterprise Accounts and General Fund are tracking at seventy-five percent or above. Mr. Violette stated that investment income is down and he has adjusted the FY26 amount for that account accordingly. The Committee then discussed with Mr. Violette the Sewer Enterprise Retained Earnings and the expected sewer rate increase. Mr. Violette recommended doing the reserve fund transfers for fire employees and health insurance at the last meeting of the Fiscal Year. b. Legal fees budget vs. actual Ms. Walsh gave a summary of the legal expenses paid over the last several years and stated that this year the Town has paid $202,000 to date. She then asked Mr. Violette what the budget was for this year. Mr. Violette responded that it was $221,500. He explained that the majority of the budget for legal is divided between the Select Board and Town Manager. He then noted that they are transitioning from one firm to another currently. Mr. Violette stated that they have not had labor negotiations but there has been special legal counsel and an investigator expense. He anticipates that a Finance Committee transfer may be needed as yearend approaches. Ms. Walsh then skipped to agenda number thirteen for a transfer request for the snow and ice deficit. 4. FY26 Budget Update Mr. Violette stated that the draft motions for Town Meeting are online and Town Meeting is April 30th at 7PM and the Town Election is May 13th. Mr. Violette felt that the public information sessions went well. He also advised that the override is $2.7 million it has to pass at Town Meeting and at the Election on May 13th. Skipped to school item number 7 of the agenda. S. Debt Schedule Review and Discussion Ms. Walsh stated that Mr. Violette sent the debt schedule out to the Committee. Mr. Violette stated that half a million in debt will be coming off after FY25. He then stated that in FY26 there will be interest due on new debt and payments for short term BANS so it looks like only $200,000 coming off in FY26. 6. Pension Funding Discussion Ms. Walsh stated that she would like to have the latest report from the Bristol County Retirement Board and asked what the payment was for next fiscal year and Mr. Violette responded that it is $7.3M. Ms. Walsh stated that they are working to get the pension fully funded but given the stress that Towns are under she wondered if the time could be pushed out further to provide some relief. Mr. Violette stated that currently the Town needs to be fully funded by 2035 and he noted that he has seen the year pushed out several times. Ms. Walsh stated that she would reach out to other Finance Committee chairs for other communities and see if she can coordinate a meeting with the Bristol County Retirement Board. 7. School Financial Questions Review Ms. Walsh stated that the Committee had some questions for the School Committee about the Little Hornets and revolving accounts and Ms. Tarsi-Goldfien commented that they have received some information back. Ms. Tarsi-Goldfien stated that she has been meeting with them and even though the Schools and Town have a "one town one budget" philosophy the Schools can move money around more freely compared to the Town. She stated that the questions she brought to the School Committee were about why a decision was made to close little hornets and around what the cost are for moving the Roland Green to the Robinson. She stated that the response received was that the decision was made due to space constraints of Roland Green she then stated that there were no updates on unemployment costs, moving and maintenance of the building. Ms. Tarsi-Goldfien then stated that Ms. Walsh reached out asking for quarterly reports and they sent information to the Finance Committee. Mr. Feely stated that the Roland Green School building is 100 years old and has issues. Ms. Walsh asked if there has been any assessment done at the building and what the process is for turning the building back over to the Town. Mr. Violette believed it would be a vote of the School Committee to turn it back over to the Town. Ms. Tarsi-Goldfien asked if the Finance Committee could do a joint meeting with the School Committee. Mr. Cooney asked if it was certain that the Little Hornets was a done deal and everyone agreed that it seemed like it was. Ms. Sinead Rogazzo of 69 Warren Avenue came forward and asked if space was not a concern could the Superintendent find a way to keep this benefit for the school employees. Ms. Walsh responded that it would be a decision of the Superintendent and School Committee. Ms. Walsh stated that as a Finance Committee the members can weigh in on finances and provide financial analysis. Ms. Rogazzo asked if was discussed as a financial issue and Ms. Walsh responded that it was not discussed as a financial issue and was not brought up in any of the meetings or discussions. Mr. Feely stated that at the Town and School Needs Assessment Committee it was discussed that it would cost approximately $29M to build onto the Robinson School to make room for the pre-school program. He then added that if they are able to use the Little Hornet space for the pre-school program it is an easy financial decision that saves the Town a large sum of money and a project that would not be able to start for several years otherwise. Ms. Rogazzo asked what the cost was to move the program and Ms. Walsh stated they have not seen any detailed dollar amounts and an estimate of $50,000 was given. Mr. Martin commented that the Finance Committee should get a full reconciliation to know what employee benefits are being covered by the Town for programs that charge a fee and the fees should cover the cost of the employee benefits. Mr. Violette responded that enterprise funds are required to cover 100% of the costs for employees including salary, benefits, pension, even a portion of accounting staff who process the bills for the enterprise fund. Mr. Violette stated that revolving funds do not always include employee benefits and are covered by the general fund. Ms. Walsh thinks there may be a benefit to doing some analysis on this. Mr. Martin commented that some of the costs to run programs are being subsidized by the taxpayers. 8. Warrant Review Mr. Violette stated that the Town Financial Articles are 1-10 and the Citizen Petitions are Articles 11- 13. Mr. Violette stated that the Select Board did not take a vote on the Citizen Petitions last night. Ms. Walsh stated that a citizen emailed her about the zoning article for 500 School Street and they were looking for a vote of support from the Finance Committee. Mr. Violette then went through a summary of Articles 1-10 of the Town Meeting Warrant and answered some questions from the Committee. There were several questions about Article 10 and the Committee wanted to have more detail about the PILOT agreement with the City of the Attleboro. Motion: To support Articles 1-9. (Feely/Tarsi-Goldfien) Passes 5:0 Motion: To approve Article 10. (Fee ly/Tarsi-Goldfien) Mr. Martin stated he was good with Article 10 if in fact the Select Board would approve the PILOT agreement and it was not just the Town Manager because he lives in the City of Attleboro and there could be a conflict of interest. Ms. Walsh stated that she recommends they defer the vote on Article 10 to their meeting just before Town Meeting. Public Comment 9. Public Comment Mr. Gregory Penesis of 12 Shannon Lane the Town Moderator was present virtually and stated that at Town Meeting he will make sure everything is clear with the override vote. Finance Committee Business 10. Upcoming Schedule Ms. Walsh stated that Town Meeting is April 30th at 713M and the Committee will meet at 6:30PM and vote on Article 10. She then stated that the next Finance Committee is May 15th. Ms. Tarsi-Goldfien stated that she would not be present as it was the commencement for the college she works at. 11. Survey Ms. Tarsi-Goldfien stated that the survey is ready to go whenever the Committee wants it to go out. Mr. Martin thought it should go out after Town Meeting. Ms. Walsh commented it should go out after the override and have the data back for the Budget Subcommittee for the summer. Ms. Tarsi-Goldfien agreed with Ms. Walsh in that the Committee should not be seen as electioneering. Ms. Walsh stated it may also be helpful to run it after the election and then again in the fall to see if anything has shifted. Mr. Cooney and Mr. Martin agreed. 12. Liaison/Committee Updates There were no updates. 13. Any Items Not Known within 48 Hours Motion: To move $118,753.96 from General Fund Reserve Fund to Account number 01423100 and 0142300 —Snow and Ice — Salaries and Operations. (Feely/Tarsi-Goldfien) Passes 5:0 14. Adjourn Motion: To adjourn the Finance Committee meeting of April 17, 2025 at 8:34PM. (Feely/Tarsi) Passes 5:0 Si Date Minutes prepared by Carrie Champagne