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Finance Committee <br />Minutes <br />August 15, 2024 <br /> <br /> <br />NEW BUSINESS <br /> <br />1. Discussion and Approval of Request for Transfer of $19,950 from the Finance Committee Reserve fund <br />to the Information Technology Annual Software Maintenance Account (01155101-5240) to cover the <br />cost of purchasing procurement software. <br /> <br />A motion was made by Mike Milbury to approve the request for transfer of $19,950 from the Finance <br />Committee Reserve Fund to the Information Technology Annual Software Maintenance Account (01155101- <br />5240) to cover the cost of purchasing procurement software. <br />Motion seconded by Darlene Furbush. <br />The dollar amount of this motion was amended to be $16,960. and was agreed upon by the Committee <br />Members. <br /> <br />Mr. Collins stated that this expenditure was unanticipated and the purchase of this software can save the Town <br />money. <br />The software was described as an all-inclusive software suite that will help streamline the procurement process. <br />It will assist in controlling costs associated with the process, conform to all procurement laws as required by the <br />Commonwealth, standardize the process and protect the Town from possible litigation if a bid award is <br />disputed. It will monitor legally binding contracts and will alert Management when a contract is due for <br />renewal. <br /> Stephanie Coleman stated that this software will make the process much smoother and more efficient. <br />The request is for the transfer of $19,950 from the Finance Committee Reserve Fund into the IT Operating <br />Budget. This amount was subsequently reduced to $16,960 as it was prorated as we are now 2 months into this <br />fiscal year. This is for the purchase and implementation of the software. Moving forward, future annual costs <br />are estimated to be $17,950 and will be included in the IT Department’s operating budget. <br /> <br /> <br />VOTE: Passed 7-0-0 <br /> <br />Roll Call Vote: <br /> <br />Mr. Pettengill, yes, Mike Milbury, yes, Jamie Schuh, yes, Lee Smith, yes, Richard Weiner, yes, <br />Darlene Furbush, yes, Greg McKelvey, yes <br />Opposed, none <br /> <br />2. Town Manager Updates. <br />N/A <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />3. Discuss Draft Warrant Articles. <br />2 <br /> <br /> <br />