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Home My WebLink AboutFinance Comm 07/09/2026Tomn of Mansfield 6 Park Rolm, AlmsFeld, lllassachuset/s 02048 7 $, Finance Committee i '; # (:;LEFI`C OFFICE Meeting Minutes Julv 9. 2026 2071b i'.li'_i 21 A ID I q Present: Sara Walsh, Chair, Scott Feely, Vice -Chair; Melinda Tarsi-Goldfein Cameron Symonds, Ryan Martin and Jack Cooney, were present in the Meeting Room 3 A/B at Towhikall � l+ I-1) , :'1 C r 1.1 Guests: Mallory Aronstein, Town Manager and Nick Monticello, Town Accountant Not Present: Greta Loukos Opening Meeting 1. Open Meeting Chair Sara Walsh called the Finance Committee meeting to order at 6:02 PM. She noted that the meeting was being recorded by Mansfield Cable Access Channel in accordance with Massachusetts Open Meeting Law. 2. Discussion and Consideration to Approve the June 18, 2026 Meeting Minutes Motion: To approve the June 18, 2026 meeting minutes. (Feely/Martin) Passes: 6:0 Financial Updates 3. Review and Discussion of FY26 Financials Nick Monticello, Town Accountant/Finance Director, gave the Committee an overview of the Fiscal Year 2026 financials. Revenues exceeded the budget by approximately $1.7 million dollars. He noted that some of the revenue increases resulted from one-time building permits and EMS receipts. Property tax collections appeared lower than budgeted by about $700,000 dollars, but this reflected timing of payments and collections remained at 99 percent overall. Mr. Monticello reviewed the enterprise funds. Water revenue continued to perform well, which is expected to help support upcoming debt service. Sewer revenue also strengthened and may reduce the need for retained earnings in future years. Parking and airport revenue tracked positively, and the recent parking fee increase began in May. Mr. Martin requested a breakdown of water revenue from intermunicipal sales and Mr. Monticello agreed to follow up. Mr. Monticello reported that the Fiscal Year 2026 close will be completed by July 15. Retained earnings certification is expected in September. Ms. Aronstein expressed appreciation for the long-term planning and analyses that have supported water and sewer capital planning. 4. Discussion and Consideration of Financial Transfers Mr. Monticello then reviewed financial transfers for the month of June. Most transfers were routine year-end adjustments. The only transfer requiring Committee action was a request for 5,000 dollars from the reserve fund to support parking contract services. He explained that tight salary balances and quarterly credit card processing fees led to the need for reserve fund support. Members discussed the timing of the parking fee increase and the reinstatement of police details in parking operations. Ms. Aronstein noted that the Town recently completed a comprehensive review of fees and permits. Several fees were updated in the Building, Conservation, Electrical, Mechanical, and Plumbing departments, where inspectors previously received a percentage of permit fees. The Town replaced this structure with a flat inspection fee that more closely aligns with regional practices and provides greater revenue stability. The Committee discussed potential impacts on inspection timelines. Ms. Aronstein reported that inspectors have been timely and that any issues would be identifiable through complaints or data review. Motion: To approve a transfer of $5,000 from the General Fund reserve fund to account number 64481200-529500 Parking Contract Services to support the current balance in this appropriation which is-$907.62. (Feely/Cooney) Passes: 6:0 5. Review and Discussion of FY27 Budget Ms. Aronstein stated that the deficit is closed, and union negotiations continue. 6. Review and Discussion of 5 Year Forecast Ms. Aronstein presented an updated Five -Year Forecast that assumes no override in Fiscal Year 2027. Insurance schedule adjustments and attrition created approximately $30,000 dollars in savings for FY27. The Town is working to create small amounts of levy capacity to help absorb future increases in costs such as health insurance. Members discussed the Town's traditional use of a five percent annual personnel growth assumption, and noted that benefits costs have outpaced Proposition 2 %. Ms. Aronstein shared a seven-year analysis showing that benefits costs consume the majority of available levy growth. Committee members expressed concern regarding limited opportunities for additional cuts within the town budget and ongoing recruitment and retention challenges given work conditions and benefits costs. They discussed long-term planning considerations such as personnel step and lane progression, school and town cost growth, and revenue generation constraints. Discussion of Long -Term Tracking a. Roland Green Building Ms. Aronstein reported that there was an addendum for the bid opening for the Roland Green property, and the deadline was extended to July 17. b. Bristol County Pension Contribution For the Bristol County pension system, Committee members discussed the most recent actuarial report and expressed concern regarding low funded levels and the potential for substantial contribution increases beginning in 2028. Ms. Aronstein recommended arranging a virtual meeting with Bristol County Retirement System staff to address all Committee questions. Members identified several topics for inquiry including investment performance assumptions, administrative fee changes, employee contribution rates, movement of employees between systems, compliance with the 2040 full funding mandate, and whether projected contribution increases are realistic. Ms. Aronstein agreed to follow up to schedule the meeting with the Bristol Country Retirement System staff, and she will identify Mansfield's representative to the Bristol County Retirement Board. 8. Discussion of upcoming Town Manager focus groups Town Manager Aronstein then described upcoming Town Manager Focus Groups. The first session will take place on July 25 and will focus on Town Meeting structure, accessibility, and public comfort with the process. The second session, titled "Strengthening Public Engagement," will take place on July 30 and will include pre -work for participants. Additional upcoming sessions will address trash services, municipal service priorities and funding, and exploration of the Community Preservation Act. Ms. Aronstein encouraged Finance Committee members to attend and welcomed suggestions for future topics. Public Comment 9. Public Comment There were no comments from the public. Committee Business 10. Discussion of Upcoming Schedule and Agenda Topics The Committee confirmed meeting dates of August 20, September 17, and October 15. Additional Budget Subcommittee, Capital Improvement, and potential Tri-board meetings will be scheduled as needed. Members requested updated trend reports that show two prior fiscal years to compare with future projections. They also requested student headcount data, snow and ice cost trends, and full- time equivalent staffing baselines for both Town and School departments. Discussion followed regarding statutory limits on snow and ice budgeting and recent challenges securing plowing contractors. 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 July 9, 2026 at 7:09 PM. (Feely/ Tarsi-Goldfein) Passes 6:0 Signature Minutes prepared by Nancy Griffin TIzul26 Date