HomeMy WebLinkAboutFINCOM04182013 Town of Mansfield
Finance Committee
Minutes of April 18, 2013
RECEIVED
TOWN CLERKS OFF1C
Present: Chairman Walter Wilk; Liz Christo, Clerk; Members: Michael O'Brien, Scott Feely. Others present
included Bill Ross,Town Manager;John Stanbrook,Town Accountant 2013 JUN 28 `! i
D
Teleconference Call: Steve Schoonveld, Vice Chairman (connected at 7: 1 HU LSETTS
Absent: Yogen Chemburkar, Member;James Bazinet, Member
Call to Order: Chairman Wilk called the meeting to order at 7:40 p.m.
As of 3/31/13 John Stanbrook went through all outstanding capital projects the Town had and ended up
with 73 capital projects left totaling$888,361.27 still outstanding.
Looking over the figures and if there are not parenthesis that means there is money that can be transferred
somewhere else and if there are parenthesis that means there is a deficit. Deficit loss free cash but are not
corrected until it is voted at Town Meeting. Some deficits are very old but now we are finally doing
something with it The DOR looks through all the accounts and if there is a deficit, then they just subtract
/-.
There are waste water articles that need to be closed. There are modular classroom projects that still have
debt associated with it. All those items need to be transferred to another capital project. Capital use for
road and bridges will come from Town capital projects and school capital projects will transfer to the
Robinson school window project. Bill Ross is working on executive summary for town meeting to
consolidate numbers and then does not have to explain everything line by line.
Projects funded by debt exclusion
Debt exclusion increases tax rates. All debt exclusion projects are complete. We will be reducing tax rate.
Annual Town Meeting FY 13 related articles funding sources are budget transfers for unpaid bills (example
snow and ice) or if something got damaged and we paid for it.
Scott feely suggests doing another executive summary. Explain to town folk this is what we need to do.
Water Wilk feels we should hand out back up to warrant articles explaining accounts we closed and where
is went.
Liz Christo suggests writing quick letter to editor to ask people to go on line for information.
regards to Town Meeting presentation, Walter feels Finance Committee can give background on what
--cney have done,then move on to town manager and then school committee.
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Finance Committee Meeting April 18,2013
Bill Ross states cleaning up accounts helped with higher rating from Standard & Poors.
Jo questions on capital projects.
Cherry Sheet from John Stanbrook; money came in a little shorter then we anticipated
Revenues 8.9%over last year; assessment went up 7.41%. Total cherry sheet aid is 0.08%.
John Stanbrook states there is a formula of what a student would cost for charter school. Cherry sheet aid
is under$302,892. We will need to make up with the deficit we already have. First time state aid is giving,
however, they are taking it away in another area. Bill Ross says they are taking everyone's state aid away.
Bill Ross says Mansfield is considered a more wealthy community and we will not get as much money.
4/18/13 Budget Computation
Bill Ross says we have an $871,000 general fund deficit; we know that the house way and means was lower
than we had originally used in our moderate assumptions and that was another $302,000. The interest
rate on the bonds we issued at 1.71% saved us about $79,000 in interest lost per year. They put that
money back in. Final numbers on employee benefits were$235,000; it does include any additional staff for
the schools. We have a little over $100,000 in flexibility for insurance. This brings us to about $860,000
total new deficit. Meal tax revenue has been doing very well. We estimate that to be about $100,000
higher than anticipated. Fire Chief is proposing changes in ambulance receipt process. We are under
/agreement with Blue Cross Blue Shield but we will accept their amount of payment and that is below cost
.,o we are looking to get out of that agreement and get our rates to be more competitive with communities
around us and cover the cost of ambulance service. Also put $47,000 in new growth. The School
Department will use $313,000 in their revolving accounts to assist. Also about $50,000 to increase MS
overtime because there are some staffing shortages. That brings us down to about $300,000 projected
deficit. Bill Ross is taking out of budget $30,000 for North Common Flag Pole; $500,000 out for building
maintenance; took out demolition of Shawmut House and Bill Ross is going to propose putting into parking
enterprise ($110,000). Ed Vozzella is taking about $190,000 out of their budget (funding 8 out of 12 staff).
This brings the budget to $0. $400,000 for OPED is put back in the general fund. Free cash we have
$4,530,000 and we are taking$7,200 for 9 year assessor inspection. $1.5 million in the budget to balance;
$1.831 million for capital improvements; $215,000 for snow and ice deficit for this year; and $500,000
transferred to the budget stabilization fund. All capital items have been funded and Bill Ross would like to
use debt for the remainder of the Robinson Window costs and the street projects.
List of CIP
Fire gear funded from funds left from self breathing apparatus; removing the DPW Design and looking at
ways that are equivalent in design/build; town-wide telephone system is top of everyone's priority list;
memorial court tennis courts got moved up on the list; Fire replacement of a vehicle; 3 pick-up trucks for
highway; Plymouth Street Fire Station fixing driveway in front; brush tractor for highway; replacement of
snow blower for highway; two vents done one at high school and one at Qualters middle school; high
':hool gym floor; library and town hall improvements; highway maintenance from free cash for $150,000;
X24,000 for highway from capital (project transfers); $97,000 transfer from capital for Robinson Windows;
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Finance Committee Meeting April 18,2013
from free cash we can fund $1.831 from projects and from closing the old projects would fund$1.952
million. The rest could be put into long-term borrowing (15 years).
All Ross says this is the first time we have been able to fund all capital projects.
General discussion
• April 23, 2013 School Budget Hearing in the High School Auditorium.
• Next week we need to formalize our article votes and give recommendations to Board of Selectmen.
• We need to policies and procedures in place.
Motion to Adjourn at 9:15pm (O'Brien/Feely)Approved
Roll call vote: Christo aye, O'Brien aye, Feely aye, Schoonveld, aye, Chairman Wilk aye.
Teleconference call with Steve Schoonveld ended at 9:15pm
6 27 /3
("gnat e of Clerk Date of pproval
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Finance Committee Meeting April 18,2013