9/28/1999 FINANCE COMMITTEE Minutes

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f 2 • Mr.Fudala noted that they will need fids to cover fees and other costs to the Town Treasurer associated with borrowing from the SRF program. He noted that these fees cane to light in relation to the SRF loan used by the Town for the landfill capping project. • Mr. Fudala noted that the last item,which is the biggest one in tis of the money amount,will disappear at the end. During negotiations with the consultant,Stearns Wheler,they indicated a lot of concern about the payment schedule. The normal process will take at least one month to six weeks. He said Mearns&' hler have already waited up to six months in the past to get paid. He noted that Mearns hel r are very concerned with maintaining a payment schedule. He noted that the Town of Barnstable has a method whereby they use town funds to pay thew off and then get reimbursed by the Mato. Mr.Fudala commented that what they are trying to achieve is to sed up their own revolving account. If it goes beyond an unreasonable time,such as 00 days,and they haven't rived their Mate reimbursement yet,they would cut a check from this money and then get reimbursed from the Mate. i Mr.Fudala stated that the Article in the amount of$40,040 is supported by lir. Whritenour; and,last night,the Selectmen voted unanimously to support the Article for$40,000. Mr.Fudala fturther commented that the first gree items could actually involve actual casts certainly the first item will;the second and third items may or may not be required;and with the last item,the money will go back into the general fund when it comes out of this revolving situation—it is gust to provide a smoother payment schedule for the consultant. Chairwomen Goulart stated that she would like to take this issue before the Finance Committee prior to the'Town Meeting on Monday based on the fact that there are three members not present and she would life to have all the members present to vote on this Article. Mr.Fudala questioned the members present bow they felt concerning this Article. The members present stated that their tentative vote would-be to approve this Article. WHAT'S NEW IN MUNICIPAL LAW SESSION: Chairwoman Goulart distributed registration forms to the members for a General Session on "What's New in Municipal LaV'and an afternoon workshop being offered by the Commonwealth of Massachusetts. She noted that the feral SessionlWor shop is scheduled for Friday,October 15, 1999,and it is put on by the MMA. The Registration check must,be received by October 8. Chairwoman Goulaft stated than if anyone wanted to go,send in a check and they wM get rei bursed from the town. In addition,she noted that they also get reimbursed for ruffles i they drive up.