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HomeMy WebLinkAboutFinance Comm. 06/28/2018Finance Committee Meeting Minutes June 28, 2018 RECEIVED TOWN CLERKS OFFICE Present: Mr. Walter Wilk, Chairman; Mr. Scott Feely, Vice -Chairman; B ' agle Clerk; Ms. Kathleen 59 �1� �, ! ) 5: Aguiar; Mr. Michael DeSantis D� Also Present: Mr. John Stanbrook, Finance Director MAs�'�ItatdSF1EI O q , ;1 llSETTS Not Present: Mr. Yogen Chemburkar and Mr. Michael O'Brien 1. Call the Finance Committee meeting to order and review the agenda Mr. Wilk called the meeting to order at 7:01pm. 2. Approve prior Finance Committee meeting minutes (April, May 2018) Chairman Wilk presented the Committee minutes from April 5, 2018 and May 15, 2018 meetings. Motion: To approve the minutes from May 15, 2018 Finance Committee meeting (Feely/Aguiar) Passes 5:0 Motion: To approve the minutes from April 5, 2018 Finance Committee meeting (Feely/DeSantis) Passes 5:0 3. Various end of the year Reserve Fund transfer requests Mr. John Stanbrook stated that the Reserve Fund currently has $200,000.00 and after the transfers will have $120,450.00 balance after these transfers to the General Fund. Motion: To transfer $11,000.00 to Account 011231-511004 Town Manager Personal Services Secretarial/Clerical (Feely/DeSantis) Passes 5:0 Motion: To transfer $250.00 to Account 011711-511003 Conservation Commission Personal Services Technical Support (Feely/Eagle) Passes 5:0 Motion: To transfer $1,300.00 to Account 011721-511001 Planning Board Management Salaries Personal Services (Feely/Eagle) Passes 5:0 Motion: To transfer $17,000.00 to Account 014211-512001 DPW Highway Personal Services Seasonal Services (Feely/DeSantis) Passes 5:0 Motion: To transfer $50,000.00 to Account 014212-548001 DPW Highway Other Expenses Motor Fuel Highway Division (Feely/Eagle) Passes 5:0 Motion: To transfer $5,000.00 to Account 604402-574004 Sewer Enterprise Fund Other Expenses Workers Comp Premiums Direct (Feely/Eagle) Passes 5:0 Motion: To transfer $10,000.00 to Account 614504-517099 Water Enterprise Fund Employee Benefits Water Other (Feely/Eagle) Passes 5:0 Motion: To transfer $6,000.00 to Account 684801-511003 Parking Enterprise Fund Personal Services Parking Technical Support (Feely/Eagle) Passes 5:0 Finance Committee Meeting Minutes June 28, 2018 Page 1 4. Consider concerns raised by Mansfield's external auditors (Mansfield Cable Access Corp, ambulance receivables Mr. DeSantis asked Mr. Stanbrook about some items in the external auditor report. He stated there was a contract for Mansfield Cable Access and some payments being made to them. Mr. Stanbrook stated that he has not seen the contract but that Verizon and Comcast pay the town and the town then pays Mansfield Cable Access and there is an agreement between the Town and Mansfield Cable Access Corporation. Mr. Stanbrook stated he thought this was going to be a written recommendation in the auditor's 2018 management letter. Mr. Wilk requested a copy of the contract for the next meeting. Mr. DeSantis said a second area of concern for auditor was ambulance receivables. Mr. Stanbrook explained that in Massachusetts there is an offset of deferred revenue that does not hit the fund balance. He further stated that this debt is over eight years old and that the Board of Selectmen has a policy to write off the old balances that were uncollectable in the amount of $472,000. Mr. Eagle asked if Mansfield could sell off the debt and Mr. Stanbrook replied that it is allowed but it's just usually not done. Mr. Stanbrook stated it could be considered moving forward. Mr. Stanbrook explained that the auditor wants this old debt off the books and the Selectmen would have to vote to authorize that. Chairman Wilk asked Mr. Stanbrook about a tranche of properties for tax title and asked if the Selectmen had responded yet and Mr. Stanbrook said no. Motion: To support the auditor's recommendations to write off the old debt and support process and policy in place to accomplish this (Feely/DeSantis) Passes 5:0 5. Discuss Finance Committee goals for FY 2019 Chairman Wilk states that there will be approximately $4.0 million leftover in free cash this fall. He stated that the Committee members discussed ideas for their goals for FY 2019 such as to make more aggressive recommendations to the Selectmen in relation to Finance Committee in regard to some issues such as the receivables and follow up. Mr. Eagle clarifies by saying to categorize by stranded assets and revenue (what is out there that we can tap?) and a plan for free cash. Mr. Feely suggests that the Committee look at what has been recommended in the past to see if has been executed and what is the Town Manager going to focus on. Chairman Wilk suggested the Committee make long-term goals and short-term goals. Mr. Feely said the Committee should also make as part of their goals what the Selectmen ask the Finance Committee to do. Chairman Wilk suggests every member bring short-term goals (6-18 months) and long-term (18-36 months) to the next meeting and stated the Committee needs to be proactive in assisting the Town Manager. Mr. Eagle stated he would reach out to the Town Manager about what the Committee could assist with. 6. Board updates (CIP, Audit, School Committee, DPW/Public Safety Complex, Downtown Strategy) Mr. Feely stated they hopefully would start earlier in order to be ready for fall Town Meeting. Mr. Eagle stated schools will be hiring two positions and would have a budget meeting in July. Chairman Wilk stated he spoke with Mr. Stanbrook to see if they could take the last loan for the new complex in September to avoid any higher interest rates. 7. Items not know within 48 hours None. 8. Audience Q&A None. Finance Committee Meeting Minutes June 28, 2018 Page 2 1 9. Committee member comments I Mr. Eagle stated the next meetings would be July 12, 2018 and August 16, 2018. Mr. Feely would like to invite Mr. Ken Butler from MMAS to come and speak at August 16th meeting. 10. Adjourn Motion: To adjourn the Finance Committee Meeting of June 28, 2018 at 8:39 pm (Feely/Eagle) Passes 5:0 '212��/S Date -3.2- 1, 1 � Date Minutes Prepared by Mary Dalton Finance Committee Meeting Minutes June 28, 2018 Page 3