Tuesday, June 4, 2013

Live reporting: Finance Committee - June 4, 2013

Present: Goldsmith, Dufur, Quinn, Roche, Dewsnap, Aparo, Huempfner
Absent: Smith, Feldman

Susan Gagner, Jeff Nutting, Jim Dacey

motion to approve minutes from Apr 2 meeting
motion made, seconded, and voted unanimously 7-0

Action Items

Jeff talked about the first transfer item, still no agreement with the Union, so we can use the money currently set aside for that. This adjustment will cover and balance the budget for the remainder of the fiscal year.

  • FY 2013 Fire salaries 100,000 Emp. Benefits -Encumbrance

motion to approve, seconded, passed 7-0

Transfering the two amounts covered together

  • OPEB Stabilization Fund 100,000 FY2013 Budget
  • OPEB Stabilization Fund 298,000 FY 2014 Budget

motion to approve, seconded, passed 7-0

These remaining items come from free cash. The operating budget stabilization separate from the general stabilization which is kept at the 5% level (approx. 5M).

  • Operating Budget Stabilization fund 225,000 free cash

motion to approve, seconded, passed 7-0

These are capital budget items known to be needed sooner than later and setting aside some money now for when. Senior Center would be to complete the second floor, would need about 1M to do the work. at this rate maybe 3 more years we could start the work. A new fire truck is needed about every 6-7 years, so putting money aside every year allows the fleet rotation program to continue so the life of a truck would really go to about 25 years. Athletic fields will need turf replacements in another 3-5 years so starting now to save money aside for the replacement will make it easier when needed. Fields at Beaver St and FHS.

  • Senior Center Stabilization Fund 200,000 free cash
  • Fire Truck Stabilization Fund 100,000 free cash
  • Athletic Fields Stabilization Fund 200,000 free cash

A study is being done at the Library for interior work, likely would come back to the FinCom and Council  for decision when that is ready. Would prefer to use the debt capacity this capacity for the Library and also for Davis Thayer renovations which are also being studied. The Senior Center is not an immediate need so we can afford to save and wait for it. There is another item later to buy a house so we can expand the parking lot for when we do finish out the second floor.

three individual motions to approve, each seconded, and passed 7-0

Really would like to put 3M into the account yearly but can't do that. This number was backed into and at least helps us say we are doing somehting to meet the eventual obligation. The game plan is to put a 100,000 more into the budget and then rachet it up with free cash as available.

  • OPEB Stabilization Fund 150,000 free cash

Health insurance was a blip on the radar for years. If we had more money, we'd put more money into it.

motion to approve, seconded, passed 7-0

If you remember we had an earlier round of capital. I recommend that if we come back we'd take a look at additional items. more money for fire dept radios, had held 50,000 back from the school's request earlier. So these are not new items, these are just coming back

  • FY 13 Capital Round 2 162,000 free cash

motion to approve, seconded, passed 7-0

A house immediately abutting the Senior Center, where the driveway is not used. Offer made, would like to complete the purchase, demolition the home and eventually expand the parking lot. The cost of the lot itself would come back in the future.

  • Beaver St Land Purchase/Demo 150,000 free cash

This covers the purchase and demolition. If the purchase doesn't go through, then the Council might have other options. If the money isn't used, then the money could be used elsewhere. The money for the parking lot could come out of free cash next year.

motion to approve, seconded, passed 7-0

In the final planning stages for revitalization of the downtown, with State and Federal requirements, we need to get temporary easements for the construction to be done. The vast majority of the abutters are working with us nicely and are glad the project is going forward. Ultimately, if we can get their signature and they do want compensation, this money would be for the appraiser and some of the fair value compensation.

  • Downtown HPP Project-appraisal/easement 75,000 free cash

Mostly street widening and some corner adjustments to prepare the work and eventual new ways.
If more than 1,000 sq ft, we are supposed to get an outside appraiser. The value of the individual property shouldn't be changing much.  I have personally visited a dozen homes to get the signatures.

If the person did refuse, the Town Council would take it by eminent domain for the temporary period, or if necessary, for the permanent easement.

Old Business - none

New Business
Jim Roche will not be returning for another three years to the FinCom
One of the roles for the Chairman is to interview the candidates, I would like nominate Chris Quinn for Chairman pro-tem

motion to approve, seconded, passed 7-0

Only one vacancy for the next term

Nutting - If you think of Franklin in 2001 and again today, there has been a lot of improvement and growth and you have been a part of that. Lowest per capita cost, lowest tax bill, thanks for your volunteer time.

if interested in joining the Finance Committee, send an email to the Town Administrator

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