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Finance Committee Meeting Minutes
12/30/15
3pm
Present: Stanley Ross, Donald Clawson, and Kenn Basler
The Finance Committee met to discuss the following:
- Review options available for financing the loan for the new truck. The total amount to be borrowed will be $122,903 and the Finance Committee agreed that the loan should be for 5 years.
- The Committee reviewed the suggested changes made by the Accountant for the FY17 budget/town meeting warrant which Stan felt were positive and the format was good:
- Line 141 – Change name from Principal Assessor to Assessing Consultant. Paul advises that because this is a contracted position and it is paid more than $35k this should be going out to bid per Chapter 30B and this position should have a contract which clearly spells out the salary, duties, etc and any benefits such as reimbursement for mileage
- Lines 171, 243, 245 and 246 should all be dropped to $1 and going forward there should be a separate article on the warrant that authorizes the town to use the funds through a revolving account (fees collected are what pays the inspectors, legal notices, etc).
- Line 422 – add a Hwy Overtime with a suggested $25k which allows for clearer tracking of overtime authorized in the summer, spring and fall months.
- Split out Parks (line 630) so that the payroll for the lifeguards is separate. This was $17k however if we are going to have Berkshire South handle all of this for us (which is what the Parks is going to propose) it will be $26k for FY17.
- Debt Service (line 700) – this is where all the loan & interest payments should be rather than having them as special articles.
- Kenn requested a meeting on Monday with Don and the Accountant to confirm proof of liability insurance from Don to continue paying him as a contractor and make sure everyone is all on the same page. The Accountant states that this position under Chapter 30B needs to go out to bid and the position should also be contracted – this discussion will be continued at a later date as Stan believes that the Governor is working on raising the threshold for going out to bid on this contracted service amount.
Meeting adjourned at 3:15pm
Submitted by,
Melissa Noe, Administrative Assistant
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