Minutes
Finance Commission · from the Town's website · 3 pages · 368 KB
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FINANCE COMMISSION MEETING MINUTES OF APRIL 9, 2026 Chair Gorkowicz calls the meeting to order at 6:30 PM ROLL CALL Present: Matt Gorkowicz, Karin Chavis, Joe Hanlon, Bill Gault, Michael Gillespie, Kim Dimes Present Zoom: Christian Buonopane, Max Tassinari Paw | Reve dow Absent: Shannon Poulos, 2suF-Réedon Present: Town Manager Marino, Sarah Johnson and Robert Powers Chair Gorkowicz begins meeting with brief explanation of Agenda and that the Town Manager along with the Town Finance Team is here to discuss the FY27 Budget that all members have received. It is reported that the Town Council will be receiving copies of the budget at the Fall Forum on 4-21-26 but this proposed budget will be on the Town Website. Town Manager Marino begins discussion that this is his 4" year working with the Town Budget and begins with a presentation of the FY27 budget. (Please see copy of Presentation) Discussions on the Town Managers Specific Budget and Capital Plan will follow. Town Manager begins discussion on each slide................ Chair Gorkowicz asks on the base budget summary document, when calculating the proportion of the additional new revenue and asks if $1.695 will be proportionated between the schools and the town, But the new growth is only $1.3, asks what else is included? What is the difference between the new growth and the additional? Sarah Johnson responds there are a little bit more local receipts included, basically all general revenue goes back together. She felt that since the school override of $2.5 was just for the schools, she would keep this separate and it is not shared. Discussions continued on what is shared and what is not. Basically, the entire shared revenue is $1,955,655. Breaking this up is the exempt debt of $171,635 and $8,500 isolated for the schools, everything else is shared revenue including fringe and direct cost. The change in direct charges is $32,000. Matt asks if the stabilization has been built into the 26 base. Town Manager replies that it is in a separate account. There is a stabilization section in the budget for review as this should not be included in the general fund. Mass asks the Town Manager for the new members if he would “walk through” and allow questions..... Max Tassinari asks if the increase in waste management fees of $80,000 will cause any issues with the Department of Local Services in how they view the Waste Management Fund? Town Manager feels if it is brought up, it can be answered with no worries about the distribution, and they will be pleased that trash fee is being increased a little due to the $80,00 being in this fund. The main concern is that the enterprise funds be balanced. They want to know that you're spending the revenue that you're bringing in. It's similar this general fund, anticipating the $68,361,037 million in revenues that are received, shared and spent correctly. The Presentation shows what the town received and how it will be spent, in its different categories but will all equal at the end. Our biggest revenue in town is the taxes that support the town the most. The next biggest piece is really the cherry sheet. It's the state and their aid to us, then it's $7 million in local receipts. Motor vehicle excise tax is a big piece of the receipts, and the next biggest piece is the pilot. MEETING MINUTES FINANCE COMMISSION APRIL 9, 2026 PAGE 1 Town Manager reports that Sarah will be retiring but there is funding available for consultations on which she will be supplying to the town. The plan is to promote Robbie to Sarah’s position but have to make sure there is enough funding to pay for that promotion along with then paying a town accountant for Robbie’s old position. The Schools Business Managers position of which we are now no longer paying 4 can contribute to this. Matt discusses the future Finance Commission meetings at which different department heads will be in to discuss their budgets. A schedule was sent to all for review. Town Manager brings up a section of the budget highlights on the Public Health Department and one of the highlights of this budget, and it was a big concern, as Meredith Hurley talked to you about grants falling off. There were a few positions that she lost funding for. It's a little bit more than we funded for everybody else, but we were able to fund those. She's not going to lose these personnel, the town was able to afford these positions in the budget, please include this when you review her budget as these were covered by grants. It will seem a little bit higher on personnel and other line items when her department’s budget is reviewed. The Town Manager continues to discuss departments and his involvement and points out the organizational charts. Discusses working within the town and the business owners. Making sure we work with the parks and rec and get them back into the old middle school gym. There is maintenance that is needed we are working towards this goal. Discusses the accomplishments his office has dealt with, within the last year.... organizing departments to be more efficient. Discusses the salaries that are listed in the budget book. Most are as similar as last year but have funding for any interruptions in these procedures. Discusses the Town Council reserve, the fuel reserve... Matt thinks costs may be more than what is reserved due to normal increases, but the Town Manager reports most of our rates are locked in. We are keeping an eye on the auto gas prices as they are constantly increasing, this year so far up to date is $146,908 in fuel costs... Discuss employees’ benefits, workers comp., retirees, all health insurance costs for both employees and retirees. These costs will be increasing and must be watched. Karin state’s funding was taken out of unemployment of which the Town Manager replies there were no layoffs and does not anticipate any this year, so this fund was available for transferring. We are not adding extra funds to our OPEB account as it is not necessary. The Enterprise funds put close to $52,000 in their OPEB’s. The schools had agreed in the past that they would allocate OPEB funding but to date they have not kept up as for how much. The Town Manager agrees to change the title of MIS to IT; this is just a title that was used in the past. The Town Manager opens the floor to Sarah Johnson and Robbie for any further questions from the commission... MEETING MINUTES FINANCE COMMISSION APRIL 9, 2026 PAGE 3 Sarah Johnson begins with what the mission statement is from their office: Our mission statement is to provide the highest level of fiscal responsibility and quality financial information to the town in accordance with legal requirements, ethical financial practices, and current best practices. Administration and finance fimction as the town's fiscal stewards to support informed decision-making and prudent management of fiscal resources through continual enhancement of accurate and timely information, analysis, and proactive management. Their office consists of Dylan, chief financial officer, Robbie, payroll specialist and account payable clerks... Their goals and objectives are abways fo explore increased efficiencies and opportunities fo streamline financial operations with a focus on improving long-term financial stability of the town, review existing town financial policies and procedures, strengthen internal controls. Provide focused training to relevant town staff, protect and work to enhance the town's bond ratings that we discussed earlier, maintain free cash and other reserve accounts at levels consistent with best financial practices, and provide long-range financial planning to assist town leadership to prioritize. One of the biggest accomplishments was having an Sr. worker come in and scan all personal action form information into each person’s payroll. This is huge for information on every person on the payroll and very helpful. She would love to get more digitalized as to once again make more efficient. But currently having all this new information scanned is a great help. Sarah continues to discuss the day-to-day work of her office and each employee... Discusses our debt ratio and bond ratings ....... Discusses borrowing on money for funding projects.......... Discusses her leaving her position and is ready and willing to help out in this transition... funding was added to the budget for this. Matt discusses that he plans on discussing with the schools and hoping there is recognition from the schools on the work that the town does for their department, especially working with them on their payroll, AP, insurance breakdown...... Sarah continues to review the payroll system... Matt asks to receive the budget electronically... he has a few other questions that he will copy in an email... He understands the finance dept. will be available in person or zoom to help with finance commission meetings and thanks all for their help with the review of this budget. Motion to adjourn at approx. 8:10 PM All In Favor MEETING MINUTES FINANCE COMMISSION APRIL 9, 2026 PAGE 4