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HomeMy WebLinkAboutFinance Comm 06/08/2026Town of Man ield 6 Pack Row, Mansfield, Massachusetts 02048 iz (-" C ( V E 0 pq'E�ASAx9�p Finance Committee `;r l O' F ICE Meeting Minutes June 18, 2026 ?'JIo JiJi_ (la P 3: S LI Present: Sara Walsh, Chair, Scott Feely, Vice -Chair; Melinda Tarsi-Goldfeln;(. eta Loukos, Cameron Symonds, ,,J. f and Jack Cooney, were present in the Meeting Room 3 A/B at Town Ha,11 Not Present: and Ryan Martin Guests: Mallory Aronstein, Town Manager and Nick Monticello, Town Accountant Opening Meeting 1. Open Meeting Chair Sara Walsh called the Finance Committee meeting to order at 6:00 PM. She noted that the meeting was being recorded by Mansfield Cable Access Channel in accordance with Massachusetts Open Meeting Law. Ms. Walsh also welcomed newly appointed committee member Cameron Symonds to the Finance Committee. 2. Discussion and Consideration to Approve the April 16, 2026 and May 21, 2026 Meeting Minutes The Committee reviewed the minutes of April 16, 2026 and May 21, 2026. A correction was noted in the May 21 minutes under the FY27 Budget discussion, clarifying that the SEMREC assessment came in $15,000 lower than anticipated. Motion: To approve the April 16, 2026 and May 21, 2026 meeting minutes, as amended. (Feely/Cooney) Passes: 6:0 Financial Updates 3. Review and Discussion of FY 26 Financials Town Manager Mallory Aronstein reported that the Town remains in a strong financial position as FY26 draws to a close. She reminded the Committee that concerns regarding snow and ice costs and rising fuel prices prompted the implementation of a spending freeze earlier in the spring. The spending freeze remains in effect and has contributed significantly to stabilizing expenditures. Fuel costs have moderated, and departments have employed cost -containment measures, including reduced fuel orders, helping the Town maintain financial stability. Ms. Aronstein stated that departments are generally tracking on budget and that the Town is expected to finish FY26 in a favorable position. Committee members observed that both revenues and expenditures appear to be outperforming projections, creating optimism regarding the Town's free cash position. Town Accountant Nick Monticello cautioned that approximately $400,000 in permitting revenue resulted from one-time construction activity associated with water -related projects and should not be viewed as recurring revenue. Committee members acknowledged that while the revenue boost is welcome, future financial planning should account for its nonrecurring nature. Mr. Feely commented that the anticipated free cash position should provide flexibility heading into FY27. Ms. Aronstein noted that the upcoming Capital Improvement Program (CIP) will likely be limited and that attention is being focused on rebuilding areas that have been reduced over previous budget cycles. She emphasized the importance of right -sizing Town operations and evaluating staffing structures. Mr. Cooney observed that revenues are often less controllable than expenditures and that the spending freeze demonstrated how proactive expense management can positively affect financial outcomes. Ms. Aronstein added that the continued vacancy of the Finance Director position has also contributed to savings. In response to questions regarding the future of that position, she stated that after evaluating operations during her first several months as Town Manager, she believes that financial management responsibilities can continue to be shared effectively between herself and Mr. Monticello, making it unlikely that the position will be filled in the near term. 4. Discussion and Consideration of Financial Transfers Mr. Monticello presented a request to transfer $247,600 from the General Fund Reserve Fund to the Snow and Ice Contract Services account. He explained that the transfer would eliminate the remaining reserve fund balance and serve as a major component of the strategy to close the FY26 snow and ice deficit. Committee members discussed the remaining snow and ice deficit and the various funding mechanisms being utilized, including Town Meeting appropriations, reserve fund transfers, and interdepartmental transfers. Ms. Tarsi-Goldfein asked whether the Town anticipated receiving any state assistance related to snow and ice costs through the Governor's supplemental budget. Ms. Aronstein replied that any such funding would not be received before the fiscal year closes and therefore would not affect FY26 accounting. Motion: To transfer $247,600 from the General Fund Reserve Fund to Snow and Ice Contract Services. (Feely/Cooney) Passed 6-0-1 (Mr. Symonds abstained) Ms. Aronstein informed the Committee that she had authorized an administrative transfer of $12,870 to support required census follow-up mailings by the Town Clerk's Office. The transfer covered postage and related expenses associated with mailing approximately 8,000 notices to residents who had not submitted census information. Mr. Monticello also reviewed interdepartmental and reserve fund transfers completed during FY26. He explained that remaining snow and ice deficits were addressed through transfers from health insurance accounts that experienced savings due to vacancies and enrollment changes. Additional examples included adjustments related to legal services, consultant expenses, veterans' benefits, and Town Clerk operations. for the detailed reporting and agreed that the transfer activity Committee members expressed appreciation reflected sound financial management practices. 5. Review and Discussion of FY 27 Budget to balance the FY27 budget. She reported that collective Ms. Aronstein provided an update on efforts hat several difficult personnel decisions have been made, bargaining negotiations remain ongoing and t including the issuance of layoff notices that will take effect on June 30, 2026. She highlighted a significant change approved by the Select Board regarding compensation for local inspectors. Historically, inspectors received a percentage of permit fees. Effective July 1, 2026, existing inspectors will receive $60 per inspection and newly hired inspectors will receive $50 pinspection. revised structure is expected to help the town to remain competitive with neighboring communities. Ms. Aronstein also discussed vacant positions that remain unfilled in Public Buildings, DPW, and the Fire Department. She acknowledged that service delivery may be slower in some areas but stated that vacancies are being evaluated carefully as part of broader operational and budgetary planning. The Town has also completed a comprehensive review of municipal fees. Several fees, including building, conservation, mechanical, electrical, plumbing, and Mansfield Green sticker fees, have been increased after comparison with neighboring communities. She noted that many fees had not been updated in several years and that the changes are intended to improve cost recovery and support Town services. Economic development remains a key focus. Ms. Aronstein reported that she and Sarah Raposa recently participated in regional economic development discussions and have joined the 495 Partnership. Additional efforts are underway to expand tourism opportunities, strengthen relationships with major local partners such as Xfinity Center, and promote use of the municipal airport. Education and public outreach concerning FY27 and FY28 budget challenges will also be prioritized. Ms. Aronstein discussed plans for community focus groups intended to improve public understanding of ogram has been municipal services and budget realities. She also announced that the Senior Work -Off Pr temporarily suspended while the Town evaluates modifications that would better align the program with operational needs. The Town Manager further described several organizational restructuring efforts, including a review of staffing within the Council on Aging. She noted that recent health insurance plan changes for retirees generated approximately $23,000 more in savings than originally projected. Committee members discussed the potential economic impacts of World Cup activity in the region. While little direct financial impact has been observed thus far, officials noted that any related revenue increases would likely become evident in future quarterly reports. Mr. Symonds requested a summary document outlining the various cost -saving and revenue -generating initiatives currently underway. Ms. Aronstein indicated that she would work toward preparing such a document as budget planning continues. 6. Discussion of Potential Financial impacts of FY 27 Ms. Aronstein stated that one of her primary concerns for FY27 is the limited flexibility available in departmental expense budgets. She indicated that the Town may continue certain spending controls into FY27 to create additional budgetary cushion and to monitor uncertain fuel costs. She emphasized the importance of changing long-term financial practices that rely on one-time revenues or stabilization funds to support recurring expenses. Future priorities include rebuilding reserves, increasing available free cash, strengthening stabilization accounts, and reducing dependence on uncertain revenue sources. The Committee discussed long-term capital planning, debt management, and the potential role of capital stabilization funds. Ms. Aronstein stated that one of her goals is to maintain at least $2.5 million in unrestricted certified free cash and to better align one-time expenditures with one-time funding sources. She also emphasized the need to reassess and prioritize the Town's existing CIP project list and improve coordination among the various committees involved in capital planning. 7. Discussion of Long -Term Tracking a) Roland Green Building — Ms. Aronstein reported strong interest in the Roland Green Building project. Bids are currently being solicited through ProjectDog and are due in mid - July. She expects to provide additional updates at the next meeting. The Town's surplus land review process is also moving forward. Following recent committee discussions, several parcels approved for disposition at Town Meeting are advancing toward appraisal and marketing, with a few properties requiring additional review. b) Bristol County Pension Contribution —Mr. Monticello updated the Committee on the Bristol County Retirement System's actuarial report and funding discussions. He noted that the pension system is currently approximately 66.7%funded, representing only a modest improvement over previous years despite significant annual contributions from member communities. Several funding scenarios are under consideration, including extending the timeline for full funding beyond current targets. The Bristol County Retirement Board has not yet made a final decision and postponed action until a future meeting. Committee members expressed concern about the growing burden on municipalities and discussed the possibility of advocating for greater flexibility in funding schedules. Public Comment 8. Public Comment No comments Committee Business 9. Discussion of Training Session Ms. Walsh informed members that she would share a recording of the recent training done by Town Counsel related to Open Meeting Law, agenda setting, ethics requirements, and public records obligations. 10. Discussion of Summer Schedule and Agenda Topics The Committee discussed summer scheduling and preliminary planning for the FY28 budget process. Ms. Walsh indicated that the Committee intends to maintain its regular meeting schedule throughout the summer and encouraged members to submit potential agenda topics. Discussion also focused on upcoming coordination among the Select Board, School Committee, and Town administration regarding long-term financial planning and capital improvement planning. Ms. Aronstein reviewed the budget planning framework she has developed and noted that adjustments may be made as the Town progresses through the FY28 planning cycle. 11. Any items not anticipated by the Chair 48 hours prior to this meeting No items were raised. 12. Member Comments No additional member comments were offered. 13. Adjourn Motion: To adjourn the Finance Committee meeting of June 18, 2026 at 7:10 PM. (Feely/Cooney) Passes 6� / ) V� 11-6 Date Minutes prepared by Nancy Griffin