8/11/2016 FINANCE COMMITTEE Minutes

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4 Finance Committee Minutes August 11, 2016 End of Year Reports/Turn-backs by Department: Review of October Town Meeting Warrant; Rodney C. Collins, Town Manager and Wayne E. Taylor, Assistant Town Manager was in attendance to review the end of year close-out reports with members of the Finance Committee. The total end of year close-out of June 30, 2016 is $2,058,999.01. Regarding the End of Year Close out Report, it was requested the financial compilation include the original budget figures with the turn-backs for additional review. Appreciation was given to the School Committee for the return of$502,193.98. The sum of $500,000 is earmarked and would be certified as free cash to assist with the projected $1.7 million Quashnet School window and door replacement project. Through the Accelerated Repair program, the Massachusetts School Building Authority (MSBA) is anticipated to reimburse the Town approximately 38% or $700,000 in grant funding. With the school contribution, the amount of$500,000 is projected to be bonded over a twenty year period. Rodney C. Collins, Town Manager indicated the grant program requires the Town to appropriate the project in full. The October warrant is reflective of the full cost for this project. If the Town is approved for funding, construction would begin in the summer of 2017 when school is out of session. It was noted the windows are in dire need of replacement and a cost savings would be realized with energy-efficient windows and doors. At the last meeting, the Board of Selectmen indicated that a proposed sign bylaw may be considered for the warrant. This would be reflected as a new article in the second draft. There is also an article recommended by the Capital Improvement Program (CIP) Committee to fund the replacement of medical and fire reporting software/hardware. The current fire software has been discontinued and the current medical software is being replacement by the vendor. A new system would combine medical and fire reporting and provide medical billing functions. The $83,000 project includes training and would be fully funded through the Ambulance Receipts Reserved Fund for Appropriation Account. Additional articles include projects submitted by the CPC and Waterways Commission as well as the Board of Selectmen, Planning Department and Environmental Oversight Committee. The Board of Selectmen is expected to finalize the warrant at their meeting of August 22, 2016. The Finance Committee agreed to review and finalize the October warrant at their meeting of August 25, 2016. Any questions regarding the warrant should be directed to the Town Manager. It was agreed the final draft of the warrant would be transmitted to the Finance Committee electronically and in hard copy format.