Loading...
HomeMy WebLinkAboutFinance Comm 05/03/2018Finance Committee Meeting Minutes May 3, 2018 :r �t RECEIVED nFFIGE Present: Mr. Walter Wilk, Chairman; Mr. Scott Feely, Vice -Chairman; Mr. Brian Eagl q#gl Wt �'bgeh Chemburkar; Mr. Michael DeSantis; and Mr. Michael O'Brien 1019 FEB -b P S: 08 Also Present: Mr. Kevin Dumas, Town Manager and Mr. John Stanbrook, Finance Dlrectoll'di,FiMA&ELD Accountant; Mary Dalton, Minutes Clerk MASSACHUSETTS Not Present: Ms. Kathleen Aguiar 1. Call the Finance Committee meeting to order and review the agenda Chairman Wilk called the meeting to order at 7:04PM 2. Budget discussion with Kevin Dumas (Town Manager) and John Stanbrook (Finance Director) Mr. Wilk addressed Mr. Dumas about 4 CIP projects that may be pushed to fall town meeting and their financing options. Mr. Dumas gave an update to previous discussions with the Committee thatinFY2020 the new road bond, last year's road bond plus the $1.4 million for the North Main Street overpass will have an impact for budgetary purposes in FY2020. He states that the plan is to take the 3 CIP projects (Memorial Hall, new fire engine and Plymouth Street fire station) and bond them so they can begin the projects and then use free cash in the fall to pay off the bond so there is no impact to the budget in FY2019. Mr. Eagle asked about smaller CIP projects being tabled and Mr. Wilk states that there are 55 smaller projects that are waiting to be completed and that the Town does not have the capacity to do more than $2 million worth of projects a year. Mr. Dumas states there is enough work planned out for this season and next season because road work is backlogged so there is enough money already for FY2018 and FY2019 and the Town can take a year off from borrowing money but not working on the projects. projects but having problems getting them all done. Chairman Wilk requests updated project list. Mr. DeSantis asks if there are any other grants or projects like the overpass with matching grants that we should be looking at. Mr. Eagle expresses concern about the "double hit" of the road bonds affecting budget so much and Chairman Wilk asks if we need to be worried about if $285k is such a budgetary issue. Chairman Wilk asks Mr. Dumas asked about parking lot payments and wants to know why we didn't raise the parking lot permit fees and more equitable and increase the amount paid by private parking lot owners. Mr. Stanbrook mentioned that he spoke with Lee from DPW about what exactly they are going to do to at the train station and there was going to be an entire lot clean up, patching and crack sealing, and new signage. Mr. Eagle asked if parking permits could go to parking enterprise fund instead of general fund and Mr. Stanbrook states that it had to be stated in the motion at Town Meeting which fund the revenue goes into. He further states that the new $3.00 increase in resident parking fees is the "break even" amount for the Town's expenses to maintain the lots. Mr. Stanbrook states that the Town cannot not base the permit fees for the parking lots to the amount of revenue they generate. Mr. Eagle asks about fall town meeting and if it doesn't happen, what is the fall back? Mr. Dumas states that the Town would pay a little more in interest and DPW would also to have their authorization earlier to start their projects as soon as the weather permits. Finance Committee Meeting Minutes May 3, 2018 Page 1 Mr. Stanbrook presented a "scorecard" that compares financial goals from 2013 through 2019. (NEED HANDOUT) Chairman Wilk states that perhaps the Committee should include this in their report to Town Meeting. Mr. Stanbrook also has listing of what free cash has been used for during past several years. (NEED HANDOUT) 3. Finalize revenue projections on marijuana articles NEED HANDOUT Mr. Eagle states that this version incorporates any edits that was sent to Kathy. Chairman Wilk talked with police chief and he said at least one officer at $300,000 and that most towns have a "liaison officer" as well. Mr. Eagle says the host agreement states 3% of costs can be charged to the store and Chairman Wilk believes that citizens will not understand that the town will only get 3% and that most of the money goes to the state. Mr. Eagle wants to include a statement that these assumptions do not include cultivation facilities. Mr. Chemburkar states that the Committee cannot vote to endorse in any way because there are 3 scenarios in the article. Mr. Eagle asks if the edited article can be sent to the Board of Selectmen and Chairman Wilk said yes. The article will be included with the Finance Committee presentation to the Town Meeting. 4. Discuss Finance Committee's Town Meeting presentation Mr. Feeley discusses the Committee's presentation for the upcoming Town Meeting — goals; still facing revenue challenges and improved industrial assets and work to become strong partner for businesses in Mansfield. Chairman Wilk states they will use the 2018 budget scorecard as well. The Committee discusses comparing the Town to a business. Chairman Wilk says next step is to make Powerpoint and share. Mr. Eagle states that the Committee should emphasize that the Town needs an "action plan" to move forward. 5. Items not known within 48 hours None 6. Audience Q&A None 7. Committee member comments Chairman Wilk stated that there was a TIF Committee approval for the Hagen Group. They are in the industrial park and what to do $500,000 in renovations and add 30 jobs over the next couple of years. They are seeking a personal property tax exemption. Chairman Wilk stated that the Finance Committee needed to vote on endorsement prior to Town Meeting. Motion: To endorse the TIF for the Hagen Group (Feely/DeSantis) Passes 6:0 Chairman Wilk states that he has been on the Downtown Committee for a year and would like for Ms. Aguiar to be appointed to that Committee at the end of their next meeting. Finance Committee Meeting Minutes May 3, 2018 Page 2 t' 8. Adjourn Motion: To adjourn the Finance Committee Meeting of May 3, 2018 at 8:23PM (Eagle/Feely) Passes 6:0 Minutes Prepared by Mary Dalton Finance Committee Meeting Minutes ,11211514Y Date Date May 3, 2018 Page 3