Finance Committee Meeting Minutes

Meeting date: 
Thursday, April 6, 2023
Minutes of the April 6, 2023 Finance Committee 
 
Members                                   Absent                                      Other                                                                                                                                                                                                                   
Shaun Galliher                         Russ Parks                      Bob Graves, Town Administrator (remote)                                                                                                                                                                                                                                                                                                                                  
Jim Chivers                                                                   
Bonnie Conner                                                            
Mary Rice                                                                     
Heather Brown                                                                      
Tracey Lussier
Candy Galeucia
Sarah Baumann
 
The meeting was opened at 6:31 pm. 
A motion was make and seconded to accept the minutes of the March 30, 2023 meeting as written.  The motion passed unanumously.
Chairman Galliher reported that the Expense Report seemed to be tracking correctly at this point.  The part for the Fire Truck is in but no Reserve Fund request is needed as it can be paid for out of another account.  
Chairman Galliher, Bob Graves, and the Committee went over the current Budget proposal with a few additions.  We are still waiting on some figures that should be available for the next meeting, a week from tonight.
They reported that the SB is in contract extention negotiations with the Police Chief, and no figures are available at this time. We also have been discussing bumping up the Police Officer annual salary.  Per their current contract, there is a 3% increase and a 6% increase is being considered. This is a State wide issue and many area Towns are doing the same. in order to retain employees.
Financing for the Tanker was discussed and to be able to have our portion of 65% of the cost secured prior to applying for the other 35% from USDA, we will take 204K out of Capital Stabilization effectively depleting that account.  The balance of 19K will be “raise and appropriate”.  It is the hope that going forward we will be able to replenish the Capital Stabilization account.  This is all in anticipation of securing the 35% USDA grant.  The application requires that we have the 65% set aside for our portion.
 
Chairman Galliher and Bob explained in great detail, some of the accounts and how they are funded.  We now have three (3) new members on our Committee bringing our membership up to the nine needed for the first time in several years.  The Budget process is complicated especially for our new members.
Free Cash will be expended on previous bills incurred by the former Highway Superintendent, a Highway Truck and new Police Cruiser.  Some accounts that are trending over can be addressed in the last two months of the Fiscal Year that allows transfers between accounts.  This year there is no doubt that Real Estate Taxes will rise, how much is  yet to be determined based on the final Budget figures and the yearly Property Revaluation.
It was strongly suggested that the Select Board be invited to our next meeting to go over the Budget.  It is anticipated that we will have final figures on some accounts and be able to vote on the Budget at that meeting.
A motion was made and seconded to adjourn at  7:53 pm, the motion passed unanimously.  The next regular meeting of this Committee is Thursday, April 13, 2023 at 6:30 pm in the downstairs Community room at Town Hall.  
Respectfully submitted,
 
Mary A. Rice, Secretary