12/21/2023 FINANCE COMMITTEE Minutes (2)

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Finance Committee-Special Meeting Minutes December 21, 2023 It was stated that the Town Manager’s office received a phone call at the end of October with regard to the end th of the lease and then received written notice on November 15. The leasing company was called and it was explained that the amount due had to go through the CIP process and that the funds would be available in July assuming that it gets approved. The leasing company was not agreeable to that explanation. The documentation was forwarded to Town Counsel and the response was that the only viable source of funding, considering the recent expiration of the leases and the imminent repossession of the vehicles, is a transfer from the Reserve Fund with the approval of the Finance Committee. Such transfers can be approved by the Finance Committee Pursuant to MGL chapter 40 section 6, such expenditures can be approved by the Finance Committee “for extraordinary or unforeseen expenditures”. Mr. Collins reported that there was a CIP meeting this afternoon and it was voted unanimously to approve recommending the funds be transferred from the Reserve Fund. He said that whether the funds come from the Reserve Fund or the typical CIP process it is the same Tax Payer’s dollar. Mr. Collins stated that there will be dysfunction without the use of at least 1 or 2 of the vehicles. Inspectional services, specifically, will be hindered. The vehicles have cost nothing in fuel and will likely last another 5 years. The question was raised if it was forgotten that the leases were expiring and it was explained that it was an oversight between the two Departments with each Department thinking that the other was handling it. It was also explained that at the start, the leases were paid in full up front and there haven’t been any monthly lease payments to keep track of. It was asked what procedures will be put into place so that this doesn’t happen again and Mr. Collins stated that at the Department Head meetings it will be explained that any Department that submits a vehicle into CIP will be responsible in overseeing it for the duration. He stated that there will be spreadsheets created to keep track of all of the leases. VOTE: Passed 6-0-0 Roll Call Vote: Mr. Pettengill, yes, Mrs. Furbush, yes, Mr. McKelvey, yes, Jamie Schuh, yes, Glenn Thompson, yes Mr. Weiner, yes ADDITIONAL TOPICS None at this Time. NEXT MEETING Thursday, January 11, 2024 6:30pm Waquoit Meeting Room 2