Hello everyone. Uh as it is 7 pm, um I will call the finance committee meeting to order. Uh and I will start by reading the remote script. So in accordance with open meeting law
regulation 940 CMR 29.10, please be advised that all FINCOM members are attending this meeting remotely. In addition, because FINCOM members are attending remotely, all votes taken at this meeting will be by roll call vote. Lastly, if any FINCOM members are not clearly audible to fellow members or any
members of the public, please notify the chair, myself uh immediately and we will do our best to remedy the problem and we will inform the public whether the meeting will continue. Uh as a preliminary matter, I am Jillian Prrenagast. I am the chair of the finance committee. Um, please permit me
to confirm that all members and persons anticipated on the agenda are present and can hear me. Fin members, when I call your name, please respond in the affirmative. Peter, >> I saw you say yes, but I didn't hear you say yes. >> Sorry. >> Thank you, Mail.
>> Yes. >> Linda, >> yes. >> Uh, Katie, >> yes. Nathaniel. >> Yes. >> Uh, and I don't see Nathan yet. Um, but
he's probably coming. Um, so, um, we also have some guests that are anticipated tonight. Um, so the schools will be calling in later, but I do see, um, Ken from the retirement board. Can you hear me okay tonight? >> Yes, I can.
>> Thank you very much for attending and for confirming. Um and um good evening. This is an open meeting of the finance committee. It is being conducted via Zoom. Speakers on the agenda will be participating remotely and the chair's
Nathan um and the chair may allow for the public to provide comment. Um, please note that while the option for remote attendance and or participation is being provided as a courtesy to the public, this meeting will not be suspended or terminated if technological problems
interrupt um interrupt the virtual broadcast. Um, anything you broadcast may be captured by the recording later. You may also find this meeting posted to the WAVM YouTube channel. Thank you WAVM for your
support. For all meeting materials, you can find them on board docs. Um, and we recommend that you follow on the agenda there unless I note otherwise. Um, and we will now be turning to our agenda. Um, before I
do that, Nathan, can you hear me okay tonight? >> Loud and clear. >> Thumbs up. All right, great. Thank you. Thanks for confirming. All right, so we have a full house for all the fincom members. Um the first uh topic on our
agenda is talking tonight to Ken who kindly uh has come uh as a representative of the retirement board. Were we waiting for anyone else from your team tonight, Ken? >> Actually Mike Pastine. He's a board member has joined.
>> Hi Mike. Thanks for joining. >> Hello everyone. Thank you for having me on the meeting. Um let me just quickly introduce myself. I guess I'm a new member to the Maynard Retirement Board. Um, effective as of
last April and in my hometown of Somerset, I served on the finance committee for about 12 years before joining the school committee. So, I'm familiar with all that you do and appreciate the hard work you do for your town. Thank you.
>> Thank you. Thank you for the nice uh kind words and for coming tonight. >> Yep. My pleasure. All right. So, um, so I would like to open the floor up to you, Ken. Um, so I think we were hoping to talk to you a little bit about the, um, ATM article,
uh, and you also shared some materials, um, ahead of the meeting with us, um, on the I always mess up the acronym, the PRK. Um, and we also talked Yep. We also talked a little bit about um the OPED um
audit too. Um is there any documents you'd like me to pull up to start with? >> No. No. Um the the article that we submitted for town meeting is the same one that we had submitted last year. Um
the board you know most boards like 70% of the boards do get paid a stipend. Um so the money does doesn't come from taxation. It comes from funds under the
control of the retirement system. Um the last three years uh we've generated over $23 million in returns. Um so uh to ask for them to be able to
get a stipen of you know 3,000 for the other four members. One member gets it as a as the exeicio. So it kind of evens the playing field. Most board members are not mainly residents. They don't have to be uh they're members of the
system or in Mike's case he's uh fifth member which has to be uh impartial can't be a member of the system or or any other boards of committees in town. Uh so I guess if somebody has questions
glad to answer them. >> Um hi Ken. Uh thanks. >> Um question on the cost for this. So >> in the and I'm in the peric letter it refers to
uh you know assumed system costs or I'm probably butchering that of 450,000. So is this this would be part of that 450,000 correct? >> Yes. >> Okay. So, I mean, I get what you're
saying about it being, you know, it's not a direct appropriation from the town, but at least marginally, you know, it increases what the town has to put into the retirement system, right? >> No. >> Why not? I'm not following that.
>> Because it's coming out of the funds that we already have. But the funds you already have have a >> 70 we we have about $78 million, >> right, >> of funds. So, >> but so there's a $14 million
unfunded actuarial liability, >> correct? >> That the town has to contribute to fund. >> Correct. So, I mean, I I don't want I I get it's probably not a big amount, you know, spread out over the years, but I think I
to me it's somewhat disingenuous to say it doesn't affect what the town puts in. Am I I'm I'm trying to understand how I'm wrong. So, if I'm wrong, please tell me. But >> yeah, I'm just going by what the statute says that it comes from funds under the
control of the retirement board. >> I get that. But the funds under control fund our >> Yeah. But you only pay a percentage. >> We have other other funds. We like I said, we had what $8 million
in returns this year this last year. Um we get money from other pl places, you know, from >> over a million dollars from from the members. >> So, >> okay, but all of that adds up. So, there's a cost to the retirement system. Mhm.
>> We subtract out returns from investments, uh, member contributions, and then the balance is what the town has to put in. >> Well, it's all part of that figure. Yes. Yeah.
>> Right. So, anything that comes out affects that bottom line town number, >> right? And anything over 6 and a half% return is a is a plus for the system. >> Right. Yep. Absolutely. >> The last three years the last three
years we've well exceeded that. So it's not been you know taken it back to the town and the unfunded liability is for past things not for current. >> But it really doesn't matter. at all still
I mean they're looking at the so they take the total actuarial acred liability of 82 million and that's you know without regard to >> you know who retired when or what it's the total cost the town is expected to
cover >> the system is retire required to cover not the town >> well I'm sorry if the retirement if the returns go negative and well I suppos it's not that nobody's going to put in but the bottom line is if you look at
that calculation of our contribution it's the total cost minus all these other pieces and the net number at the bottom is what the town has to pay again that would be a that one picture in time it's not you know because it's
changing. Every time somebody retires, somebody dies, all that liability changes every day. Somebody gets a pay raise, it goes up. Somebody leaves the system and somebody else comes in a lower rate, it goes down.
All right. I I'm sorry. I don't mean to beat this to death, but I I just want to be clear because also I think you know whatever we say about our recommendation on this article, you know, I'm going to want to be clear in the fin comments
that excuse me. Um, you know, so all of the assets in here that you're saying are what fund this are assets that belong, you know, are for the town retirees and the town has to make up any shortfall in that. So I
again I'm going to say I think they're, you know, admittedly small. But we're not talking huge dollars here. But I bottom line, I'm still thinking that this, you know, affects what the town ultimately has to contribute because it
increases the costs of the retirement board. >> I don't know if Mike wants to add anything. >> I I I'm not I'm But again, I I I don't want to beat this to death. If Mike, if you have something to add, I'd be happy to hear it. But
>> I I mean, maybe just to try to clarify a little bit what Ken said. So, I mean, like statutoily, you know, all expenses are supposed to be paid from investment gains. Um, and then at the end of the year, any gains
that may have would close to different accounts, one of them being the pension reserve count account account. So, I can see what you're saying where I mean, if there was a couple of years consecutively of investment losses,
you know, this may wash through a small percentage of it may wash through what the liability is, but you know, in practice, I don't know if that actually ever ever happens. Um >> but you know especially where the
you know may not's very well funded system right now but but to your point I mean maybe 15 or 20% of the stipen could come back to the appropriation but that's probably
unlikely. Yeah, I I so I guess I'm thinking the money is fungeible. So it the the bottom line, the number that really does change is the town contribution. Everything else. >> So in in the way you just explained it,
if we didn't pay the stipens, there would be more money that would close out to investment returns. >> Correct. >> Okay. And that funds the pensions. So I Okay. I again I don't think this is huge money. I'm not >> but I think
>> I don't know how the pension reserve fund is necessarily accounted for in the appropriation because that's money that's kind of normally put into the reserve in case of say some extreme bad years
um as opposed to just the the pension fund itself. But I I do agree with you that you do have a point that yeah, >> if we did have a few bad years, you know, maybe 15 or 20% of that appropriation could could potentially
fall to um the town's appropriation. >> Okay. All right. Thanks. I I I won't belabor this further. I had a couple questions
kind of related to this and it was in the PRA letter and on page one it's talking about you had we had a loss of $846,000 because one person retired presumably earlier than
expected because of an accident. >> Correct. Um, and so that 846 is that's sort of an increase in our liability because we had expected them to work longer. So now we're going to have to pay retirement for a longer period of
time. >> Is that how that works? >> Yep. is because and and our questions too are that in the budget the >> the the amount that the t in our FY7 27 budget >> the amount the town is contributing to
the pension fund went up by quite a bit quite a bit. I I'm sorry I should have had the figures in front of me >> and I was just reading this. Yeah. Sorry. >> Yeah. Yeah. And that's the biggest part of it is because of that one person. >> Yeah.
>> You pick up that normal cost. He had retire he had retired on a regular superanuation but then filed for a disability uh retirement and after that went through then it bounced up the liability. >> Yeah. Okay. So that adds to our
liability and then and on page five this is about the cola. >> Okay. And we last year the the finance committee recommended the increase, but when we recommended it, we thought it was going to cost $90 for about a
hundred employees. So 9,000. And all of a sudden it cost the normal cost wasn't 9,000, it was 26,000. And we hadn't accounted for this liability of 1.1 million. That was something we missed. And I'm wondering
why did we underestimate the the like the ongoing cost of that cola increase >> that that cola increase was $9,000. >> But here it says this >> the normal cost was 26,000.
>> Mhm. >> Okay. >> That's an X. >> I didn't understand the difference between 9 and 26. >> And then of course we hadn't accounted. So now we're going to have to in the future 1.1 million. We're we're expecting an increase of 1.1 million,
which I don't think we accounted for last year. >> At least I didn't. >> Um I I know we had 100 people that >> Yeah. Yeah, that's what I had. >> That received that received the the
increase. >> The increase was $90. 100 people, that's $9,000 actual cost. This is an actuarial valuation that is was done by an actuary, not me. So I can't I can't explain where all those numbers came
from. >> Okay. Thank you. >> Uh I was wondering about um we discussed the the cost of this a little bit. uh what is the the benefit of uh having the stipen in place? Is there concern about
um staff finding enough people to fill the seats on the board? Are there any empty seats right now? What's the what's the uh reason for this? >> The reason is is one of the biggest things is the responsibility that they have. Um they can also be held personal
personally liable uh for their if they fail their fiduciary responsibility with the system. Um they also do have to provide parak with all their financial information annually. They're required to take 18 credits
during their term. Um so it's not just show up at a meeting and and that's it. they have they have a lot of responsibility um along with it um like I said 70 over 70% of the other boards in the state do
give a stipent some of them it's $4,500 we're asking for the smaller amount of the 3,000 Can I have one more question? >> Ken, you mentioned that um most of the retirement board members are not Maynard residents, correct? But are most either
current or presumably former employees or current employees? >> Some of Yes. Uh I'd say I think right now four are current employees. >> Yeah. >> But they do not live in town. >> They don't live in town. But then they're
>> Some of them do, some do, some don't. >> Yeah. Yeah. So, they're current employees and as I understood um they're actually attending the meetings during their lunch hour during their job. They're somehow that's kind
of what they're doing. >> Yes. >> It's they're not taking they're not taking leave or you know using like some personal time to attend to do this. Okay. So, they're kind of Yeah. during their normal work hours but on their
lunch. Okay. Thank you. >> Can you kindly remind us one more time how many total members there are that could be potentially impacted by this article? >> So like there's five members. So it would be 3,000 >> but one already receives it by statute.
The exeicio the town count receives it anyways. Is that five max or five current? >> There's five on the board. >> So the board won't is not missing two seats, etc. It's just five, right? >> Five by statute.
>> Okay. Two are elected by the members exeicio of the town. Uh one appointed by the select board and the fifth member which happens to be
Mike is appointed by the other four. Thank you very much for that clarifier. >> So, uh, Ken >> Mhm. Um, could I just back up a second to the cola because I couldn't I'm actually on my phone and I can't really see the uh the the articles that well
due to the size, but I'm assuming the actuarial actuarial liability >> probably increased by $1 million because of the cola increase. And so that's not like that's a direct cost
annually or anything to, you know, to the system. Um, you know, the appropriation probably went up maybe even by less than 9,000 for all all we know. I I don't know exactly what was attributed >> to the current year's appropriation.
That's just increasing the overall unfunded liability, which is I'm assuming somewhere the 70 70 million or something. >> Yeah, because it this that would be for anybody that's currently retired,
anybody that is currently employed, and it would be, you know, going out how many years, you know, through their retirements. So, Do any other members have questions? So you answered the question nicely I had
so far. So uh do any other members have questions for you know the retirement board on the article or otherwise? All right. I'm not currently hearing any. Um I do appreciate you coming to talk with us on the articles um and also
on you know the um the change in the um the liabilities as well. Um we'd definitely be interested to learn more once the um the OPE audit is done um and sort of learn more about that. system. >> Yeah. Well, the OPED is is done by the
town. That's not us. So, >> I don't I don't I don't I I don't know how much of our stuff they actually include in in their OPED, >> but that would be a >> Okay. So, they're sort of like different reports.
>> Correct. Yeah. I think I mean more on the healthcare and that type of stuff. Yeah, OPED is just essentially health care costs. It has nothing to do with retirement benefits. I mean pension benefits. Yeah.
>> Yep. Uh sorry, Jill. Can I ask another question? >> Yeah, sure. Maybe I'm mixing up the audits then. >> Um so I I'm sorry. I was looking back at
past increases in the pension or the retirement system, this, you know, total cost number that's in the perrick letter. >> Um, and I had some idea, and forgive me,
but based on what I was looking at, I had some idea that FY27 was a larger than normal increase. >> Yes. um >> when they did the actual evaluation,
they don't they make the change in one year. They don't they they don't they won't do it during the current year. So, they could come back and hit part of it uh for 26, but they the actuary actually pushes it into 27 so you don't have to
make up another appropriation in 26. That's that's how he does it. >> Oh, I see. Okay. He could have he could have come back and said you have to increase your 26 appropriation by 75,000 or whatever number.
>> Right. >> But they don't do that. Yeah. >> They roll that in. Okay. Yeah. >> But as I'm looking at the past budget changes >> Mhm. >> I'm not seeing that this is particularly out of whack. So
>> is there a certain page of this you want me to be on, Peter? Uh well, it's on the last page, but you have to turn it sideways. >> Yeah. >> Um >> yeah, before we were at 6.1% um annual
>> Oh, and to 6.7. Okay, I'm not counting that as a huge increase. >> Um okay, that makes sense. Um question though, do you think that 4.1% increase is a likely number for future years or is that you know going to be
re-evaluated every year? >> Every two years. So >> every two years. Okay. >> Yeah. So it was done in 25 so 27 will be during that year. We'll have another one which one would go into effect for 28
or 29 depends on how things go. >> All right. And then I mean I get the actuarial increase from the uh retirement and you know the $800,000
number. But as I read was reading this, I was thinking, you know, it talks about the value of or I'm sorry, the actuarial value of assets, the AVA, >> um, you know, went up 2.3 million
because of returns as and then minus the 800,000 for the change in the retirement stuff, >> but they spread everything over five years. losses are spread over five years. Gains are split spread over five
years, too. >> Yeah, I saw that. But it still seemed like it was a it seemed like it was a good year. And I'm just maybe actually, you know, you're expecting the excess asset gain without
the deduction, >> right? Yeah. >> Okay. Okay. Uh but you think so the 4.1% for next year is likely and then you know tough to say beyond that. >> Yes.
>> Okay. Okay. Thank you. >> Excellent. >> Do any other members have any other questions? questions, comments, or feedback. All right, I'm going to stop sharing just in case anyone's raising their hand. I don't see anyone raising their
hand. Um, excellent. So, uh, thank you so much. Uh, we really appreciate you coming and talking with us about the article, about a little bit more about the perk letter, and, um, some background information. Um, we appreciate you taking time out of your night to come talk to us tonight. All
right. >> So, thank you for that. >> Thank you for your time, too. >> All right. Thank you for having us. >> You're welcome to stay for the rest, but uh you of course don't have to. We're going to be moving on to our next topic. >> All right. I'll be leaving the meeting. I've done my share of finance committees
in the past in my town. But thank you again for having us. We appreciate your time and effort. >> We really appreciate all you all do for the retirement fund. So, thanks for that. >> Thank you. Bye. Good night.
>> All right. So, um we will be moving on to our next topic. Um I have too many windows open. Um which is talking to the Maynard school uh Maynard schools tonight. So, let me shut some of this
stuff here. Um so, I think we are hoping to talk to the schools about the the FY27 budget. Um and just you know understanding that there's uh in the you know the at least the general fund article and you know the potential difference in the school
budget um requests um I think we talked a little bit about at uh the joint committee meetings in February um and uh just hoping to hear a little bit um about the green meadow updates. So I think it sounds like there's a lot of exciting things going on there too and
anything else you all would like to talk about tonight. So, >> okay. >> Um, >> yeah. >> Peter, yes. >> Sorry, can I just make one comment at the start? Um, and I don't know who was looking at the stuff that came out for the budget subcommittee.
>> Um, but there was the question of the asibet increase and how that would play out with the rest of the budget. So, I just want to note for Fincom members, and I assume the school committee already saw it, but that the the
proposed amount for the Maynard public schools hasn't changed and is the same um without, you know, so Greg was able to absorb the change in Asabet through health insurance primarily it looked like. So, sorry, just wanted to note
that because we had talked about that a little bit before, but anyway. So, that's good news anyway. Thanks, Peta. >> Okay. >> Really good news. >> Sorry. Sorry to >> No, that's good. It's huge. Yeah. So,
but I think um Brian, you you're gonna do the presentation, right? >> Yeah. I have a very modified presentation simply because things haven't changed a lot. So, let me try and >> to Peter's point, which is great. >> If you want to Who is it? Jillian, if you want to give me permission to share
my screen, I'll share or I can send it to you and you can do it. >> I believe that you have permission to share. >> Okay, I do. Let's see. >> So, Jill, I don't know if you heard Maro. Um, is I guess she I thought she
was going to be listening, but um she lost her voice, so >> Oh, well, I hope she feels better. >> I know. >> Here we are. Let's see. Slide format. Oh, you can see that, right? >> Yes.
>> So, actually, you're going to be the first people to see this because this is a new thing. So, I took my presentation, which probably looks like what you're used to seeing. It's a lot of charts, a lot of square lines. It's a little bit boring. Has no artistic flare whatsoever. And I opened it up today to
update it and whatnot. And lo and behold in Chrome in presentation on the bottom of the screen it says beautify this slide. So you get the beautiful slides as of March 9th. >> We appreciate that. >> I I figured you would you know not everybody's gonna
>> and you also get to see a rendition of the beautiful Green Meadow. >> So that's exactly that's the Green Meadow. This is the our appreciation for the Maynard community for supporting this not only the Green Meadow Elementary School but the override last year and just in general in supporting the
Maynard public schools and just food for thought if we have competitive grants and this is just a sampling of them but so far this year alone we've brought in $258,800 in grants to support our budget. Um, we
have one more large grant out there. It's the, if you're looking at that slide, it's the bottom right corner, the CTE expansion grant program. So, it would really upgrade our WAVM programming and provide a lot of infrastructure for it.
And it's just over $4 million. And the good news is we're still in the running. We just haven't heard from the state from DESA yet. Um, so we're excited about that opportunity. But in general, it just shows that we are working really hard to bring in as much money as possible for a school and grants is one
way we can do that. And then why are you not going? There we go. So our FY27 budget recommendation, you can see this is pretty beautiful, isn't it? On the left side it says superintendent recommendation 25,575
which includes our contractual obligations reinstates the fifth grade teacher the the high school health PE teacher and adds an athletic trainer and on the opposite side of the scale I have the town administrator's recommendation which as Peter nicely pointed out it
hasn't changed which is unusual for me if you will in the last 5 years it hasn't always m he hasn't been always been able to maintain that number of 25 this year 25,177500 the difference being just shy of $400,000 that 397,494
um so these positions the fifth grade this talks a little bit about why is it important so you can see in FY26 it was unfunded due to enrollment and due to budget constraints we let that go we need that back due to enrollment and we can afford it and it gives you all the
reasons there why in terms the class size and things like that. Um, the high school health and PE teacher, it restores the health and PE electives for our upper division students, which is really a requirement, although lots of schools get around it. Um, but we want
to offer, especially the health professions pathway, which we've just got approval on. And then finally, the athletic trainer. So I think it was Ben actually Ben Z who mentioned Sharon Massachusetts at our Saturday morning
meeting and they're in the news currently because they didn't have an athletic trainer staff members advocated for it and unfortunately a young man uh got ser got a serious brain injury playing football. So having the athletic trainer is both the right thing to do
because it's the right thing to do morally. It's also the recommend recommendation of MIAA and it reduces our liability as a town and school by having the right people in place there for athletics. And then this is the key slide I think
which is okay. So we have this budget. We have a 300 I'll call it $400,000 difference and how are we going to close that without coming back to the town and asking for for more money? And the answer is right on the slide. It says use anticipated retirement savings. So,
a plus and a minus. I'm sad to see some of our teachers go because they are phenomenal, but they've reached that point where they're ready to retire and they're at the top of the pay scale. So, when we replace those roles, we replace them at a significantly reduced salary. So, we will cover about half of that
money from retirement savings between teachers, parents, custodian. Um, and that's it. And the other portion we'll use from uh preschool revolving account. We have some revolving accounts. It has some money in there. We can put some preschool salaries in there, freeing up
some money for the budget. And so about half comes from retirement, half comes from a revolving account. And that actually balances our budget for for this year. We would meet all of our obligations. We'd reinstate our fifth grade teacher, reinstate our uh health
and PE teacher, and get an athletic trainer. Um the statement of impact is really this is about strengthening the learning, the well-being and the equity of our schools, our staff and our students. Expanding opportunities which we do at the high school significantly
in terms of pathways and improving retention and attracting families that you know keeping class size close to 20 that attracts families to come to your school district. Having class size in the 25s and the 28s does not attract people to come. So this does all of
these things. So the good news is and Peter sort of you know good for him he knew the information but the health insurance was the reason that that was able to offset the increase by aset. So Greg u was able to maintain the numbers for us. So I'm
excited to to be here with you tonight. Um that's great news for us. Um we're in a good position to move the district forward slowly strategically. I mean, truth be told, we've been asking for an athletic trainer for probably four years, if not five years. It just never
makes it through the cut and it's uh it's necessary. So, we're we're excited that we're bringing in grant money and able to be strategic about how we spend what we have without asking for more. So, um from the town, so I don't know if
you have questions for me based on that. We also just as a little um added um piece about the asibet um we actually have fewer students going to aset. It's just that the per student assessment has gone up. So that's encouraging that
we're able to you know I mean we love having um as a collaborative but um it's actually that together with all of our pathways um has been bringing bringing students back which is wonderful. >> Agreed. Thanks Mary. I have a
>> I could actually answer a couple of your questions that came in via email. Um, one question um Jillian I think had to do with >> retirement. >> Do we do retirement incentives? Great
question. Actually, they used to do that, but it's been probably 20 years and it was an expensive endeavor. It did get high salary people off your books maybe a couple years early. Typically,
it just cost a lot of money. Um, it was like you had to cough up 20 $30,000 to get them to do that. And unless you had lots of people there and they could really afford to retire a year or two early, um, it didn't really necessarily
work out financially in the advantage of the district. So, we don't currently do that. I don't know anybody who's still doing it anymore. Uh but it was something that was commonly done in the Commonwealth. Um but that was in the late 90s. And then the second question had
>> updates um on the difference in the school versus the uh town administrator's recommended budget which thanks >> yeah opening. >> Yeah, great question. Green Meadow is going to open next January. So, we
actually, if you've seen our school calendar for next year, we have two professional development days right after the winter holiday. And that's to allow the teachers to really unpack and be ready to open on that third day after the break. Um, so January, without
looking at the calendar, it's probably the 4th or something like that. Um, we're on track, we're on budget, we're on time. We actually had a meeting tonight. We have monthly building committee meetings and actually weekly construction meetings. Um, super exciting. It's actually in the building.
It's actually taking shape. Um, kind of still looks like a shell on the outside, but the bricks are going up and on the inside, the drywall, the paint, the cabinetry, um, the it wires and whatnot are being run. It's exciting, but I think is there another part to that question, Mary?
>> There was um, for the Eversource incentives for N energy, the 1.4 million at the end of the construction and the 135 000. If energy savings goals are met after the first year, what is that expected to go toward? What are those
funds? >> I'll talk. >> Yeah, we didn't we don't spend a lot of time talking about that. My guess, but I'll talk to Greg would be that it it's sort of like in my head I equate it to Medicaid. So, the schools do the work for Medicaid and the money goes to the town and it really goes to the big pie.
So Greg has say $50 million for the town and this would contribute to that and then he allocates it as he sees fit with guidance from all the department heads. Um I don't think the expectation is that that money comes directly to the schools. I think it would
>> yeahation from Greg on that too. So since I sent you all that email >> um saying manager said >> the project manager said it would go towards the uh cost of the building I guess. Yeah. >> So >> that makes sense.
That's where I figured it would go. So >> um also so I think everybody knows that we have the solar panels also and in terms of the solar panels that are on the buildings though those funds correct me if I'm wrong um Brian or Wayne go
toward lessening the the energy costs of specific of the specific building. So that those go directly toward savings um yeah >> to the schools. That is true. >> Uh I had a question about the sustainability of the budget going
forward specifically related to the grants. Actually I love the fact that you guys are doing that and it's very very important but that's kind of a very fluctuating value of money especially if you get that 4 million uh this year it means you got close to like 4.2 million but would you be able to sustain that?
And are you when you do any future planning on your budgets, are you including that as a sustainable number or is that just kind of an icing on the cake concept? >> That's more of an icing on the cake. So there's two sets of grants. Some are entitlement grants which we just get right based on who we are and our
demographics. So that we do include and then competitive grants. That's more icing on the cake. That $4 million grant we would that really would go for is like new lights, new computers, a van. Um, it would all be infrastructure for
WAVM for the most part. So, we wouldn't really need to build it into our budget. It would be icing on the cake. Instead of us at some point coming to the town and saying we need capital to redo the lights in the studio, this would cover that. >> Exactly what I asked. Thank you. >> Yeah, you're welcome.
Um, apologies if you've already touched on this in in more detail elsewhere, but just for the preschool revolving account, um, if you weren't using that that account to balance uh, the budget here, you know, what would what would you be using it for? Is there anything that's going to be, you know, severely or negatively harmed by the the change
in potential fund use with that or is it not too not too harmful at all? >> Not too harmful at all. >> And in fact, we have another revolving account which we didn't talk about. It doesn't have as much money. um school choice it keeps going down and we get it
doesn't replenish as much as it used to. However, there is some money in there and we use that particularly specifically if you will for facilities and issues that come up whether it's a boiler that needs this or a hot water tank or whatnot. And again, the
advantage of us having, you know, a little bit of money in there is that we can use that account for a lot of the little things as opposed to having to come back to the town and saying, "We need some free cash." So, we try not to do that. And Wayne's super helpful in making sure we're conservative and we have our
funding in there so that we can make the repairs as needed. >> Thank you. >> You're welcome. Uh I had a couple questions. Um my first was about the revolving accounts. Uh I recall they got drawn down um quite a
bit about two years ago. Uh have with like the increase in like the budget last year. Uh have you been able to replenish those funds? >> So they a future member. Yeah, we have been using our revolving
accounts since I don't even know when it started, long before I came. So, whatever the town has allocated, to the best of my knowledge, looking back many, many, many years, we the school system has used revolvers to close that delta to the best of their ability. So,
they're not replenished to the way they were once were, partly because funding mechanisms have changed. school choice. We used to get more money because we had more kids choice in than choice out. Um there's still viable revolving accounts
that for example school choice will still help us with facilities and the preschool is the one and Wayne can talk about it better than I can but it's the one account that really does get replenished because it our preschool program funds it. So that's the one
account that probably will maintain money because even if we spend some, it gets replenished the next year when when families enroll. >> Thank you very much. You're welcome. >> She is adorable.
>> Thank you. Say hi. >> Hi. >> Hi. >> Hi. I did have a question that I think might have come up in the February meeting as well. Um, the difference between athletic trainers and having EMTs on site. And I think there was a potential
cost savings that was mentioned for having our own person rather than having EMTs every time. Is that something that I missed? >> We don't save money. Yeah. Well, I think the question was brought up, but so when we do EMTs, we only do the bare minimum
from MIAA requirements, which is varsity football and tournament play. So, what we spend on that is relatively low. It's less than five, it's around $5,000 a year. So, there's doesn't really offset it, but this actually provides coverage for
all of our students every day. So this includes field hockey, softball, baseball, not just football and tournament play, which that's mandated. So this is providing a whole new layer of coverage for all of our student
athletes. >> Thank you for that additional information. >> Absolutely. >> Uh I had one more question about the athletic trainer position. Um, I I recall I think it was Natasha talking about it maybe two years ago. Uh, so I'm
hoping that I'm remembering correctly, but there was a question about like equity and somehow with if we without hiring an athletic trainer, there's some like additional like an athletic trainer somehow still helps out like the boys teams, but that's not available to the girls teams without hiring our own
athletic trainer. Am I remembering correctly? >> I think you are. I think what you're thinking of is MIAA h the mass intercolastic athletic association their requirements are for what an what you have to have say the EMT for would be
the football team it would be for the postseason football games but you don't have to have them for field hockey you don't have to have that so the inequity is just within the law but if we have our own athletic trainer then we're equitable because that person would then
service all of our students sort of like our athletic director they would be able to use the gator and get from the softball field to the baseball field or from alumni field to the back field of the high school. Um, so we would be in a much better position to make sure our students are taken care of with our own
athletic trainer. I think that's what you're sort of putting together. >> Yeah, I think that was it. Thank you. That's that's exactly what I was wondering about. Yeah. All right. Um, I also would like to >> Sorry. >> Could I go ahead?
>> Uh, I have a totally or it's somewhat unrelated question. So, I didn't want to cut off discussion on the Maynard school budget. Um, but can I just ask a question about aset budget? >> Uh, >> you can ask me anything. I won't
necessarily know the answer to this one, but I can find the answer. >> Wow. Okay. So, >> they will be coming to talk to us, Peter, at the next finance meeting, too. By the way, >> I know that. Yep. >> Yeah. >> I did want to just state that for the record. >> So, I'm looking at the Asphet overall
budget. Um, you know, for the entire school, not just what's assessed to Maynard. Um and for FY26 it increased 11.1%. And for FY27
it is increasing 8.6%. Um when we talk to ASET they present that and in their materials as best I can figure it out it's a complicated topic. um that essentially
their budget is the minimum required by the state. >> Yep. >> And that that increase, you know, we can't the school committee or the Asimate school committee can't vote against it. That this is just
required by net school spending. Um, not I I don't begrudge them the increase as much as I wish Maynard could have that increase. >> Um, but I so I wanted to ask and somebody else as you know maybe knows
more about school budgets than I do. Um, does that make sense to you? Does that you know is that seem to >> it does I don't want to throw them under the bus either, but >> um, >> no. And it's not them. It's the legislature. That's how it's set up. So
there are several pieces to educational funding that don't work. So for example, the net minimum net spending, the state sets those numbers. So asset doesn't have to advocate for that. It's just one of those things that just is. So they
bill accordingly. So we didn't do anything right or wrong. They didn't do anything right or wrong. That's just the rule. >> Okay. And so the fact so I assume Maynard's minimum spending, you know, goes up by, you know, somewhat a similar
percent. It's just that the town contributes beyond the minimum net school spending and then we can't go up by 10% every year. And so is that okay? All right. I'm just wanting a general sense of how that's playing out and
double-checking what I'm understanding. So, all right. Thank you. >> But Peter, feel free to ask them at your next meeting to to answer that question. >> Well, I asked it last year and they, you know, essentially said, you know, look, this is, you know, there's some, you
know, $50,000, you know, added to the assessment that potentially we could cut, but other than that, it's really what's required by the state, and they can't cut below what their budget is. Um, so I just wanted to double check
somebody else's understanding of that. So, thank you. >> Yep. >> Sorry, Joe. That was all I had. >> I just threw up the minimum local contribution slide from from the alphabet uh PowerPoint that we'll be
talking about next next time. >> Yeah. And there is um there is ongoing discussion at the state level about the whole foundation um budget and that and the fact that it is not equitable that it's not working. It really doesn't work for Maynard but doesn't work for many
many communities. So um I'm not sure if it's ever going to change but at least they're having the conversations now cuz they realize that what it was what back in 88 is that when it all started that it's you know not it's not working. It doesn't
>> does not. Yeah, we get hit hard. >> Although I will say to give you credit, the finance committee and Greg the town town as well, even though they may not hit our number, like my number if I think if I recall is like 7 and a half%
or so, um, which is a big number. So, I'm not surprised that that's not feasible on an annual basis. He does come in at 3.3%. That's a pretty respectable number. Um, if I in a perfect world, I'd love to get
that to four 4.5 because I think what you would see over time is we'd have no delta. It would take us about a decade, but we could make it go away if we could get four to four and a half% annually, which is still a big ask. So, I'm grateful for the 3.3. Um, and if you're
watching the news, I mean, I get newsletters, right? The Mass Association of School Committee sends a daily, quite frankly, email about what's happening in the Commonwealth and our budget. We have to have one of the more solid budgets right now in central and eastern Massachusetts.
So, there's something to be said for that. >> Well said. >> And it's really the support of the community. I mean, I know what it is um and and your guidance and Greg's work, etc.
education is important and we really appreciate the open communication uh between all the different boards as well. >> Absolutely agreed. >> All right. Um I would like to open open the floor up. Are there any other questions from the finance committee
tonight for our special guests from the schools? All right, I'm not hearing any. Um, I was wondering if it would be possible to please share with us. Um, you can email it to me or to the fincom email the presentation. Then I can make sure it gets posted on board docs too for the future.
>> Sure. I'll send that to you. >> Thank you so much. Um, yeah. So, I think I think we've got all of our questions answered. It sounds great that uh we're really happy that the the balanced uh budget ended up being something that was attainable this year with the with all
the different accounts and uh we really appreciate you coming and talking to us tonight. >> Well, thanks for having us. >> Absolutely. >> And I hope you're you're feeling better, Mara. >> Mara's just I'm done. That's >> I know she's listening. So, um so thanks
for that and thanks very much for the presentation. It was very beautiful. The slides came out nice. The beautiful button. >> I like that. >> I'll send it to you in the morning. >> Thank you so much. >> Thank you. Thanks. >> All right. And we will continue our
agenda. You're welcome to stay, but of course not obligated to. >> Thank you. >> All right. So, we will um I'm actually going to take co-host away just just in case. Uh
there we go. Um so in the past when I've had co-hosts shared with uh guests before, they've accidentally signed off and closed the meeting. So I think you're okay to close out this time. So um all right. So we'll be we'll be going on to the annual town meeting
discussions um and about our recommendations uh for those. So, I did get um some recommendations here. So, I will be pulling up the
new article tracker that we have. That is not the right one. Here it is. All right. So, this is the new article tracker that we have. Um,
it is pretty darn small. Let's see if I can make it a little bit bigger. All right. So, the challenge Here we go. So, all right. So,
we have added on a couple new um potential articles since the last time we that we spoke. Um so, this includes two potential um one citizens petition. I'm not entirely clear if this lease is
also a citizens petition. Um but I can bring these articles up um because I do have draft ones for those. they've been received. Um, and that that's sort of the only new
articles these the two a D and AE um since the last time that we spoke. And I did also get a few of the written um potential recommendations from members. So, thanks for sharing those. Um
I have also gotten clarification from we wanted to invite Justin because there's quite a few water sewer articles. Um here um he can come on March 30th. So um
so we I'm proposing that we add um so the 23rd will be our next meeting. that will be Asabet will be our guest and we'll talk to them and we'll also talk about our ATM articles on the 30th we can talk to Justin about the DPW so
the water sewer articles um and the potential bonding authorization article which I still haven't gotten a copy of yet um we can talk about those there so I also wanted to give you an update
from from Melissa from the town clerk. So last time it's not in this list of articles, but we did talk about her request or potential article about the
um adjusting the town meeting time um in relation to the voting. Um and she did thank us for our um discussion on that and for the topic and
that she um was very appreciative of the feedback that we gave her about how we were really hesitant about changing it because we thought that there's not a lot of time to make the recommendations and there's also as we talked about the budgets and the timing of those budgets
that we don't always control. Um so from the external sources like from the state um and um she is based on that discussion she's considering a more modest adjustment um and the proposal would move the annual
town meeting to the second Monday in May. So it would make it one single week earlier um and would move the annual town election to the third Tuesday in May. Um, so like about a week later and that
the proposal would be that everyone else's timelines would also be moved up. So that's something that I also wanted to bring up to talk. Uh, I'll stop sharing. I don't actually have documentation for that. But um
you know I think if she wants to move it up a week to sort of give some additional time between the elections or the voting time and the annual town meeting. I feel like that's more of a
you know it's more of a it's not as much time in between. Um, but I think the main challenge I have is that, you know, the articles for this current town meeting were already supposed to be due and we still don't
have half of them. Um, did she say anything about moving the town election to, you know, a week or two after the current >> t time of town meeting?
You you said second Monday for town meeting and third Tuesday for the election, right? So if the first day of the month was a Tuesday, then the town election would be the day after town meeting, but otherwise it would be a week later.
>> Yeah, let me shoot too many windows open. Let me pull it up. And then obviously the the town um the town emails are public information. So basically I thank
them saying that like we don't think that that's something that will be easily done. Um you know we're dependent on other entities for the final numbers and you know that's the risk of having this inaccurate or reliable budget. So I did
ask her about changing the actual election. um the you know she acknowledged that these things are out out of outside of our control and that you know there's things there the moving the election later she said there's actually a bunch
of challenges there potentially so um but if they do it the last Tuesday in May um you know there's the Memorial Day holiday and if it's in June there's additional issues so and it's challenging because schools with their year-end activities
um and police coverage because a lot of them take vacation. So, she felt that moving the election itself would be something that's probably not possible. Um, so she's proposing moving it just a week
and changing all of the actual due dates for the articles and things like that for everyone, not just FinCom. And again, >> this is really only an issue in years when there's an override
on the spring town meeting, you know, whether >> All right, Bill. Yes. But I mean it's both a debt override or a you know operating override. So it's you know we've had a few but not I mean
there's been three right you know high school going way back and then Green Meadow and then the recent operating override. I guess we're talking about another one for DPW or for water this spring, but we can't keep doing
overrides. Huh. Yeah. I even at a week I'm not wild about it. To me, town meeting should be as late as possible. You know, probably though it has to be before Memorial Day weekend.
And it's just, you know, the closer we are to the end of FY26, the better we can do at FY27. >> Julian, is she proposing like a bylaw change or how would this work or would the select board do this? >> This would be this would be a bylaw
change. >> It would be a bylaw change. Okay. >> Yeah. So, she was um >> Okay. >> So, she was originally proposing to do it two weeks. Um and you know that it could potentially save some cost, but that's not really
the real reason is that she wanted to have more time for the people to consider from the annual town meeting and to vote. So, >> yeah. Yeah. So, she was originally asking for it to be um a shift of two weeks and now she's saying, "Well, what about one
week?" And it may not make it for this spring cow meeting. Seems like >> it's definitely not going to make it this one because it's already >> it's already been voted on by the select board to be on on May 18th. So, >> okay. Okay. So, it wouldn't be this.
Yeah. And her and her warrant and her bylaw article might not even be on the warrant in May. This May, >> right? >> Yeah. Okay.
So, I mean, the deadline for submission of the final versions of the draft articles was February 27th, which >> yeah, >> we're already past and we only have half of the town articles right now. >> So, my my main concern is that, you know,
we're not even meeting our current deadline. question. Is there any consequence to us not getting the articles in time? Like do like I don't know what happens if we don't get them in time. Like what is the
>> like are are there anything that Yeah, you get what I'm asking. >> Yeah. So, uh, let me let me stop. Let me let me share the timelines because I think that's that's kind of uh that's what I'm looking at and I think it makes it easier to look at. Um,
so basically how it's set up right now is that the annual town meeting is on the 18th, May 18th. So, if I'm if I pull up my calendar on my phone. Um,
so like for example, she was originally proposing to move it to May 4th, which is two weeks earlier, but that's not going to happen this year, but in the future, this is what it would look like. So, we were like, we don't think we're not comfortable with that. that would move our public hearing to April 27th,
like the the the Monday the last Monday of April probably. Um, and our comments would be due a full two weeks earlier as well. So, the challenge is that now
it's March 9th. We should have gotten all of the final warrant articles. Like, they should all be due February 27th. We still don't have the really important articles like the general fund finalized, this potential override. Like
those are big ticket items. Like some of these very big articles are just we don't even have drafts of them yet. Um and we have to give all of our recommendations by April 15th written like ideally so then it can be
in the printed warrant. So my main challenge is that if she wants to shift it up a week, all of our recommendations would be due by April 8th. So that's like three three-ish weeks, three and a half weeks from now.
We still don't have all the articles. How can we make recommendations on things we don't have yet? That's, you know, >> like >> like is the deadline just like >> is the deadline like a magic date that they just say and if it's after it's
after is it just not like enforced? >> I How long Peter have I been on the fin? I feel like I've been on the fin for like at least eight years now. It feels like every year the articles it gets later and later >> later and later they shouldn't be accepted if they're
later, but we have to because they're town budget and >> yeah, I don't think there's an option not to do the town budget. >> Right. >> Right. Like I understand the town budget, but like some of these other articles, I don't understand why we
don't have them yet. Well, because I so you know on the override it's because you know Justin and I guess Greg are proposing it. The select board hasn't been convinced yet. >> Right.
>> And I don't know about the other ones. But then if we get it so late, should it be pushed towards another year? Like, you know, like can they still submit it? >> We don't >> so late. >> We still don't have like the certified
free cash appropriation, which you know goes hand in hand with the general budget, but like why don't we have some of the enterprise funds yet? Like that shouldn't be a surprise. like the
budget for each of the fiscal years. Like I guess maybe we have to wait until the rate hearing, but I'm pretty sure that that was at the last select board meeting. I could be wrong, though. So, I'm um you know, it'll be interesting to see
the budget subcommittee meetings this week, right? Yes. And it did look like here's another instance where the state redid the free cash. Remember the it came in certified very low. >> Yes. >> And then they had a redo. So, you know,
and so there's yet like another instance of a delay, right? You get one thing and then they have to do a redo. And of course it came out much better. Um but right this is like now March, what is it? 9th and we just saw that this week,
right? They just >> Yeah, >> but I I I assume that that's a case where we appealed >> Yeah. >> free cash finding. >> Yeah. But still even that adds time, right? CL time. Yeah.
>> And we had more snow. Yeah. >> Yeah. If you move everything up, you don't know about all the snow you got. >> Yeah. So, so I'll open the floor up if if other how um other members feel about changing the by one week. Um,
so I the feedback that I have is that if generally a benefit if if there are overrides like debts operating like things we need to vote on after ATM um and that
closer the date the closer the closeness the closer there we go the closer to the end of the year the more accurate our numbers are for budgeting um and like like the latest state or other external
estimates and you know I'm I'm just honestly concerned that current deadlines aren't being met for for the articles. So, if we change it by a week, who's to say we're going to get what we need anyway?
But one week feels better than two weeks. um to me if we really think that'll make a difference or not. I think it'll probably mean there's going to be a lot more articles that don't make the printed warrant with our recommendations.
But that's that's my 8:00 at night glasses half empty. Do any other members have any other feelings on the topic? Well, I'm Yeah, I don't uh I'm not in favor of
changing it even for the one week. So, I I I don't think we do overrides enough for it to matter and would, you know, prefer to explore potential, you know, even if it's early
June, that may be okay with an election. Um, but uh you could be you could set it for the Tuesday following Memorial Day or the Tuesday plus a week after Memorial Day would be
my proposal. But I I Yeah, in general, I don't think we have overrides enough to make it worth changing. Okay. Would any other members like to comment
before we change topic? All right. I am not hearing any um additional feedback. All right. So, I will um share the feedback back to Melissa and let you know if there may be an article or not
that does come up in the future. Uh in the meantime, we can sort of talk about the current articles we have. Um let me share uh uh this is not the right one. So this is a sort of hot off the press
citizens petition. So um there is a petition that is for changing the state flag and seal of Massachusetts. Um so this would be to remove um to remove the native sort of symbolism
or the indigenous figure on the Massachusetts flag and seal. Um so this one did receive enough votes or enough signatures, excuse me, not votes. um to be included in the annual town meeting warrant. It is a citizen's
petition. Um it is not clear to me that it is proposing an alternative for the seal and flag um and motto. Um but it's for supporting a change to
it. Um, so I can reach out to the citizen to see if they have any additional information they'd like to share with us and if there's any potential financial impacts. Uh, I'm not sure that there would be for at the town level. Um,
but for your information, this is a citizens petition. It did get enough signatures, so it will be on the ATM. >> Sorry if this is like a silly question, but um, sorry, go ahead, Jill. >> No, I'm just going to say I open the
floor for questions. So, please go ahead. just just in in general terms, I suppose, if there's like something that's on the warrant, but it has like like no sort of financial or monitor monetary impact, like is that something that we would still write a recommendation for? Um or or no.
>> So, Peter, correct me if I'm wrong. I think in the past we have still written recommendations and sometimes the recommendation is like there is no recommendation because there's no potential impact. Um, at least that's what I recall from my time on the committee.
>> We had at times done, you know, we're not making a recommendation because there's no financial impact. Um the moderator and actually the you know
wording of the town charter says we are supposed to make a recommendation on every article. >> Yes. And I think in the past we have made recommendations that we don't have an official stance.
Uh, >> we could, >> but I don't we could technically >> anybody have sympathy for the idea we should make a no recommendation
because articles like this on topics that aren't particularly gerine to, you know, the town of Maynard, um, gum up town meeting. I mean, I can't
wait. You know, we're g to spend, you know, an hour debating what I think is a somewhat silly article that slows town meeting down, encourages more articles like this by doing it. I
mean, why we're not weighing in on the Iran war or Palestine or, you know, god knows what. um that I and maybe I'm just getting old and kerogyny, but I don't want this on our
warrant and am inclined to, you know, use whatever power we have in a recommendation to discourage articles like this. But maybe I'm just getting old. I'll be yelling at cloud soon.
Um it so I don't know what people think about that. Well, >> yeah. I was I was a little confused because I thought they were at first telling asking to change the town symbol of Maynard, and I I don't believe that's
what this article is about. >> No, no, it's just it's been a long time. There's a whole state commission on redoing the seal of Massachusetts. It does show like some, you know, pilgrim, you know, with a sword to an Indian's
neck or something. It is somewhat offensive to my mind, but or at least dated. Um, but again, I'm not I mean, they just can't agree on what the new seal should be. So, that's why there's
no new seal yet. I think everybody thinks the old seal is a bit of a problem. And there is a whole state commission that just, you know, keeps getting extended because they can't figure out what a new seal should be. But I don't know how Maynard helps that.
Pulling up the charter, it does say the finance committee shall report in writing its recommendations on every article uh contained in a town meeting warrant together with a statement of the reasons for each such recommendation. Although I would also say that the the the state the state law which which
governs sort of our conduct um says that we shall consider any any or all municipal questions um for the purpose of making reports or recommendations. So I guess that doesn't really doesn't really help us but that is what the state law and and what the charter says I suppose in terms of making a decision
uh with this particular born article. That doesn't sound like we have to take a vote though, just that we have to write something out and that typically a vote is a very easy way of doing that. But we could just say our written explanation and I guess 6 in agreement
with the fact that we agree with what we wrote kind of concept. Okay. Um, so that's one citizen's petition. Um, there is also another one for um, and my understanding is this is
also a citizens petition, but they do not yet have all of the signatures is to reszone 141 Parker Street. Um, so and this is from the the developer,
the owner of that that area. Um, and that that is um >> where is it? This is the property um along the entrance to Mayor Crossing. So, it was the old DCU office. It's currently um
um the future home to the senior center. So, uh, it also includes an old and vacant house, um, on that that area or that lot as well. So, um, we haven't they haven't gotten all the signatures to certify yet. We just
wanted to let like this is sort of being passed along to us so we can start our research in case this does get all the signatures. It would be a citizens petition. Um, we don't know what the plans are specifically um, for this to get the parcel zoning changed, but they
would like to change it to industrial. Um from sorry from >> from industrial district to business district. Um Jillian, can you ask Greg if this is required to go through the planning
board? Um, so as I understand it, any zoning change requires a hearing >> and a recommendation from the planning board before it can be considered by town meeting.
>> And so one I want to know that and then you know part of it would be what they think. Is this >> the last does it look like it's just asking that it goes to the planning board? No, this is I think this is a warrant
for town meeting or an article for town meeting. >> Yeah, >> that's what I think they're trying to propose it to be. Um, but like you said, I I think they have to go through this planning board, but I do not know. Um,
but they are um they are making a petition for this to be an article. So, like if you look at the documents that Greg sent, um, this is sort of in the >> where's this fit with the timeline? Are
they still able to collect signatures? >> I would have thought they were too late. >> I think it's until the 19th that you have to submit it, right? >> The timeline for Yes, it's March 19th. We still have
time. Yeah, that's ridiculous. Who messed up the charter so much? But, uh, having been on the charter review committee, that's me. But anyway, um, although I think we did back up the deadline a little bit. Um,
all right. Yeah, my concern with this is one, it's the owner proposing a zoning change, which immediately makes me nervous. And then my understanding of the zoning there is that it's industrial with the overlay district that allowed
129 Parker and the overlay district has a lot of controls in it and special permits required of the planning board and the town would get more control than under just general business.
So I'm curious what the planning board has to say about it and you know actually if my understanding is correct also I'm not sure if it is or not but um so they they would have more by options under business
than they do under the >> uh overlay district I think. >> So yeah and I got some updated information from Bill. So um so under the industrial zoning um marijuana and
most other retail uses are prohibited. Um the business zoning allows retail marijuana by special permit. So, I don't know if we I I don't know why they're requesting this um resoning,
but um it is potential that, you know, if recreational marijuana is something that is of interest to them, it could be allowed by special permit potentially, but I don't I don't know if that's what they're thinking. I'm just I'm thinking of article CB the or CD or whatever article it is where they're trying to
reszone the central business districts to allow for it with special permit. So, uh, I will get more information when I get it. Um, but I will ask if reszoning requires go to planning board.
All right. Any additional questions or comments on that one? No. All right. Um All right. So, we did get um so I don't I don't yet have like a single document that has all of the
articles and the recommendations in it yet, but I have started to collect our potential recommendations. Um so, thanks uh for forwarding those. Um, so I guess as we were talking last time
um we can you know update some of the articles here. So um so I would propose at our next meeting let me stop sharing that start sharing this.
So, we're sort of talking about, you know, what the recommendations might be for some of these articles. I think for the next meeting, I think it would be nice if we could maybe vote on the community preservation articles. Those are pretty well fleshed out. Um,
I think we also have sort of the golf course receipts. Um, I think I would also recommend we sort of vote on the retirement board stipend article. We got all our information for that tonight. Um, and then I would say that we focus on
the the water sewer things after we have our meeting with Justin on the 30th. So, um, the following meeting because we're we basically have our meeting on the 23rd and then we'll
have the ad hoc meeting on the 30th and then we'll have to make all of our votes and recommendations possible on the 13th unless we also add another meeting to April 6th because then our Britain comments are due on April 15th.
They're coming up soon. Um, the challenge is that for more than half the articles, we still don't even have articles. Uh, how many of the um articles that we have right now are finalized and how many of them are just drafts? I I I'm wondering if there's anything we can
vote on tonight just because we're always like crunched for time trying to get all the votes in. Um and we're already holding extra meetings, >> right? Um usually when the articles start to be finalized, they'll make in addition to this Excel warrant tracker, they'll
start putting them all into a single word file. They have not started doing that yet. uh they being the town offices um Greg Wilson and and the rest of the town offices. So I know that the retirement so
technically anything that has a received date that should be the final version of the article is my understanding. Um, and I don't see. And usually when they start to be numbered instead of having these control
letters, that's also when you can be pretty darn confident that that's the final version. Um, for the uh, retirement board article, I would certainly defer to you all in terms of if you guys wanted to to vote on that. I did have one question which probably wouldn't be super helpful directed to to to the the board
themselves, but um, I was just thinking um, I know that the the state law which sort of underpins their warrant articles says that basically in order for for us to uh, for town meeting to authorize the stipen, it has to like accept it basically. So my question there was if
if town meeting accepts like a state law into sort of the municipal law, can we like withdraw that acceptance later if we feel that the investment returns are not what they should be or are we like stuck with it for forever? Um so that just speaking as one that that would be helpful for for me to know I think for
for deciding on that article article but I would again would certainly defer to you all in terms of uh readiness to vote. Um just a personal question sort of that I was curious about for that. I think if it were to pass, it would be highly unlikely that somebody would
bring out an article to um rescend it at a later date. >> That makes sense. It also hasn't changed, right? No, it has not changed. >> Has anyone on the board's opinion
changed? Sounds like a copy paste situation to me. Uh >> wait, what was our vote last time? >> I don't I don't recommend. >> I don't remember what the numbers were, but we didn't recommend. And then um I would be interested in what the town
voted and I would I mean my personal thought on this is that unless some board member has changed their opinion we can go back and take a look and see to see if perhaps we disagree with their past selves which is totally fine but if none of us do then I would say this is a really easy one. >> Yeah. So I can read to you what the what
we are recommend our written recommendation last time was does not recommend. The FINCOM acknowledges the efforts of the retirement board and their time dedicated to ensuring the stability of the pension fund. While the requested amount was in line with similar towns of other retirement board
stipens, FINCOM has concerns of funding through the retirement investment returns in an uncertain financial environment. And that was how we wrote it last time. >> I guess if the climate was uncertain then, then it's pretty uncertain now.
Um, so The only thing I'd want to add to that would be at the very beginning something that says this is the same articles before the town voted on this. This is what the town voted. This is what fin's recommendation was. Our opinions haven't changed for
example. >> I agree with that. >> I'm just looking at the results from last year. Moderator declared the motion failed by majority vote yes. 53. No. 57. One blank.
So, it was closed, but it failed. And it was by a secret. It must have been by a secret ballot because it was by a ballot. Yeah. Majority secret ballot. And it failed. >> So, if you're a visual person, this is
what it was last time. This is uh article O. So this is I just copy pasted it in in here. That's what we said last time. Can I just ask I mean we don't mention
it in our written thing. I thought a lot of the concern was wait a minute all these boards serve without assignment. >> Yeah. and that to single out the retirement board as being,
you know, deserving of a stipen because it's hard to fill it or hard to, you know, it takes a lot of time, whatever it is, you know, it's not particularly different than select board, planning board, or fin school committee.
Um, >> I think for me there's actually Some some different information that I absorbed this time was that one single member already gets this stipend, but none of the other four members do.
>> Yep. >> Um and I I suppose to be fair, they do have that that state law that that gives them sort of uniquely the opportunity to get a stipend. Um whereas I suppose that's like I suppose there aren't other like
municipal committees that have any sort of identical provision in the state law that I mean to the to the degree that they're singled out. I mean I guess like the state law does kind of single them out but just sort of a thought in in favor of this. Uh they did point
out that they have to do like 18 hours of training um to do this. So some some um compensation for that time may be warranted. Um I wasn't as convinced with the argument that you
know they're liable if they fail to to act in like a fiduciary manner. Um cuz you know that's really on like them and like their you know what I mean? Like if they're behaving in a proper way then that's not really a a penalty.
>> But even if they're not, is $3,000 going to make the difference? >> Right. >> I I don't think you're going to be liable for less than three grand. >> And and they're all um members of the uh of the retirement like accounts, right? Because they're all former town or
current town employees. Um, so they're managing money that's ultimately paid out to them. >> At least at least one of them is not. They're independent. >> Right. Right. And that's not then that's not the member who has a statement already.
>> Correct. I know it's >> see I was I was concerned about what Peter where you were going that eventually it comes back to the town and I look back at Nathan's spreadsheet the financial planning and what we're paying into the pension every year has been
going up a lot more than 4.1% every year. Um, and so eventually it's going to come back to the town even though it's a relatively small amount of money, but this year it went up like quite a bit. Um,
and you know I don't know I I >> I'm conf so part of me was so the guy who was on pastac or I may be confusing his name with the Bruins guy but whoever
it was I mean so he's the outside independent person but he's from Somerset and I don't know if I'm him kind of listening to this discussion, I'm like, "Well, if you're not even going to give me a little stipen, why the heck do I want to be on the main
retirement board?" And my understanding is we do need someone like that and that, you know, they're going to him because they haven't been able to fill it. So, I don't know. I I'm slightly more sympathetic to it than I was last year.
Yes, >> I I as one member am too considering it's $12,000 if it's four members because one of them already is getting paid. Also last year there was concern because um you know the town was being asked to
vote on an override and increase their taxes and at the same time um having another article that was voting on like money to like uh have stipens for people. It it didn't I don't know it felt uncomfortable last year. Um I mean
I think the logic still works the same whether or not we're voting on an override. um because like like Peter pointed out, it ultimately comes back to what the town is paying into the retirement fund. But that is that is a difference in in the circumstances last
year and this year. >> There's still an override. We just don't have the article yet. >> You're right. You are right. >> There may or may not. And there's the trash. This trash that's coming on to everyone, too. So, >> yeah. Oh, we don't have a trash budget
yet either. >> Nope. >> Oh, good lord. >> That's a big one. >> Nope. >> Well, it's not that big moneywise, but it will be a new one. We can't even compare it >> a big last year. Yeah.
>> Yeah. >> So, yeah, I I as one member would be more inclined to vote recommends on this article o than than I was last year, honestly. Yeah. To me, the most compelling thing
is, you know, wait, what's so special about them? We have a hard time getting people to run for school committee, too. Um, I'm not but you know I don't know. I don't I really don't have a strong feeling either way. I I see an argument
either way. All right. Well, maybe maybe this means that this is something that we want to sleep on about then. There's no strong we need to vote on this right this second. >> I agree. I'd like to sleep on it.
>> Yeah. >> Why is it bolded? All right. Um Yeah. I I would like to write the recommend and the recommended one. So then we can think about it next time. So
where is my Excel spreadsheet? This is article. Oh, Joel will write this. Okay. Um right, I'm going to stop sharing. So here we go. Um, yeah. So,
I think now we have somebody's name next to this, but I still haven't seen article AC. Did I miss it? Am I going crazy? Supposedly, there's been an article submitted. Still need numbers. So, I
feel like an article hasn't been submitted for this yet. >> Yeah, I think that's a play. I mean, it's not an article without the numbers. So, >> right. Okay. And then >> what's a budget without numbers?
>> Right. And this would be the um 141 Parker Street maybe. Um Okay. Yeah. So,
so I think we have people assigned. Um, Nathan, if you're able to do G, H, and M for next time, like, um, that would be super. And then Katie, I would say we can probably wait on our recommend and and, uh, Nail, we can probably wait on
the water sewer articles. Um, you sent me a couple of them already, I think, the ones that have been filled out. Um, Nail. So, thanks for that. Um, but we still don't have tea yet. So, yeah.
So, I think the consensus is I don't really see any articles I can vote on yet. Um, but we have people that will start doing the research um on those. And I'll send this around as well as the draft uh recommendations
uh after the meeting. All right. So, we'll get an update from a bit. Well, I'll wait until we go to that topic. Are there any additional uh questions or discussions for the annual town meeting? Jillian, on the one that I wrote on the
tracker, does it say who sponsored it? It was about medical marijuana. I couldn't see it from >> It doesn't. >> Oh, it doesn't. >> I was just looking at I just opened it. >> Um, it's by the planning and zoning board. >> It is the planning board. Okay.
>> Okay. Does anybody still do medical only marijuana? >> I don't know. I couldn't figure it. >> No, but my understanding is that um that the people in cuz at the select board meeting, this was a topic. Um and
the people who are in the former Bank of America right now. I can't remember what the name of the business is. Um but it's right on Nathan Street. >> Oh, in the old Middle Sex Bank. Yeah. >> Wellspring.
>> Yeah. So, they are um >> they have a medical facility or medical marijuana facility somewhere else. I think I don't remember if it was in Framingham or somewhere else, but it sounds like they want to bring that business here as well, but they can't do that because central business is only
zoned for recreational and does not allow medicinal right now. >> Ah, okay. So that's my understanding of where this article came from. So that was discussed at the uh the select board on March 3rd
I think. So it should be in their meeting minute packets as well as on the recording. >> And I thought the place on Route 62 it might be an Actton or Conquered might be an Actton was a medical marijuana only.
>> It is. >> Yeah. I forget >> that was Wellspring. >> I think that was Wellspring as well. >> So maybe they want to take that one and move it downtown. >> Yeah, >> we can poach a business from Actton. >> Yeah.
>> All right. >> So, >> um, >> wait, a question about that. Um, is medical marijuana taxed differently from recreational? I just did a little search uh and the Mass Cannabis Control Commission uh says
that there's a 10.75% excise tax on recreational marijuana and no state excise tax on medical marijuana >> as well as Massachusetts sales tax applies to all sales of marijuana marijuana products. There's no standard sales tax on medical marijuana sales.
So, if this is a way of switching a taxable business into a non-t taxable business, um that doesn't sound like a good trade-off to me. >> That's a very good point, Nathan. Um >> yeah. >> Yeah. >> Well, except um so to do medical
marijuana, you need a medical marijuana card. >> So, it it it would be that they'd be running both businesses out of the same place. Mhm. >> But I mean, you could save, you know, 10 bucks in taxes by going to the Actton
store right now if you have a medical marijuana card. Um, so I I I don't think it displaces sales. I don't know, maybe somebody's too lazy to go there and doesn't, but it's a lot
of taxes on marijuana. >> Yeah. So, it would displace taxes, revenue. Well, I don't think it would because I don't I don't think it covers the same people, >> but >> I would agree with that. I don't I think that even if it does, it's probably a
small enough case that the people that do need it that are going to other towns. I would hate to deny them, you know, effectively we're saying you can have fun, but you can't have a health problem in Maynard. And I don't like that message. I'd rather potenti I'd rather potentially lose a little bit of
tax sales and say, "Hey, if you have a health problem and you want to have fun, come to Mayard." >> Yeah, you've you've convinced me. >> All right. Are there any other ATM articles we would like to discuss tonight? All right. Not hearing any. Um I will
move on to our next topic which is routine agenda. Um I have meeting minutes here. Uh thanks Linda from March 2nd. Um, so this was talking about ATM, uh,
the retirement board and about how who we're going to meet when um, and the bylaw change and and the budget and the assignment of articles. Um
AC. Oh yeah, that is that that is the deferred still the solid waste enterprise budget because we still don't have that one yet. Um, okay. Then approval.
Do we have any questions, comments, or otherwise discussion on the meeting minutes of March 2nd? I think it's the one document I missed. So, I'm adding it to board docs right now. >> I Well, I think it might have been late.
>> There are two commas after March 2nd at the very top. >> Okay. We like to take a roll call vote. I move to approve the minutes for March 2nd. >> And I will second to approve the minutes from March 2nd.
>> All right, we got a move. We got a second. Do we have any further discussion on these meeting minutes? >> Hearing none, I will take a roll call vote to approve. Linda, >> yes. >> Male, >> yes.
>> Nathan, >> yes. >> Katie, >> yes. Peter, >> yes. >> Nathaniel, >> abstain. >> Uh, and I am a yes. So, uh, we have six
yeses and one abstain. >> Uh, motion to reconsider. Um, the >> motion to reconsider. Okay. >> I just checked the, uh, YouTube link and it is to the, uh, quadboard meeting from February, not
>> March 2nd meeting. Okay. I always use the same YouTube link, huh? So, let me go back and change it. It should be >> Okay.
Um, would we like to take a amended vote with an updated link? So, >> I assume that we'll find the updated link. We don't have to do that live. Um, or maybe I could do that for you live.
>> Um, I can I found one. Let me just check it. Yep, I found it. It's um it ends with CC1. So, I made that change. >> All right. I'll make a motion to approve with the amended changes for March 2nd.
>> I second. >> All right. We got a motion. We got a second. Do we have any further discussion? >> No. All right. I'll take a roll call vote. Um Linda, >> yes. Male, >> yes.
>> Nathan, >> yes. >> Benny, >> yes. >> Peter, >> yes. >> Nathaniel, >> abstain. >> Uh, and I am a yes. So, it is um six
yeses, one abstain. All right. Um, do you need me to send you the >> No, I I got I got the March 2nd and I and I replaced the YouTube link. Thank you for noticing that because we we actually we couldn't post the meetings of the joint because we didn't have what
do we have? We didn't have an agenda. So that and I >> Yeah. So, it's been a challenge with the joint meetings because I asked Greg if we need to post a separate thing and um the consensus is that we don't have to post a separate because it's a joint meeting between the two boards. Um but
then we can't post two sets different sets of minutes. >> Um so to let the rest of the committee know, we did vote on approving the minutes for the joint board from like our own group. Um, but they won't be posted um on the town website. They'll
only be posted on board docs. So, so there's no fin independent finance committee meeting for the clerk to attach the minutes to in like the calendar. So, it's like a technical thing. All right. Um,
okay. So, I will bring up here um we did that's the only meeting minutes we have um so to approve today. So, now we're on to updates from chairs and members. Do any other members have updates you would like to Um, all right. I'm not hearing any. I
already shared the update I had about the schools for Eversource during the school topic. Um about how the money from the grants and and rebates and otherwise for the energy saving is expected from the um according to the planning manager, the building project
manager to go towards the building of the school um or the bonding for that. Um, so that's the only the update that I've had and it sounds like there will be a budget subcommittee meeting uh this week
on the 11th, Wednesday. There any other topics that members would like to share or updates? >> I'll say there's um there's a bylaw committee meeting on Thursday and they're going to be considering a bylaw
on the dog fees and the dark sky and they're trying to get the last they're still looking they're still circulating two drafts of the dark sky one. So hopefully they wrap that up. Dark Sky one is a citizen petition. So
>> it's a citizens petition. Yeah. >> Yeah. And there's but they still have like two versions of it. So hopefully they um uh nail that down soon. >> Okay. The dog license one though,
they're not expecting that to be on the ATM or you're not sure? I think no, I think they're expecting that to be on the ATM and it's just in slightly increasing the fees and then they worked out on who um it has to be the authority of the select board to change the fees
in the future. Um but it wouldn't have to come to a whole um >> you wouldn't have to rewrite the whole bylaw to change the fees. The select board would have that authority. Okay.
>> But we should get those. >> Do you see those as a pl you see those as a placeholder? >> No. >> Anywhere? >> No. I'll double check. Um, this is this is the frustration I have.
If they want to make things earlier, we still don't have >> um I have no bylaw articles in here. >> No bylaws >> except the marijuana one. >> Okay. Marijuana one's the only ones in there. >> Okay. >> And that's by the zoning planning zoning
board. So I don't have any from the bylaw committee. >> Okay. I'll me I'll mention that and see on that's on Thursday night >> cuz these these should have been due um February 27th. All of the final versions.
>> All right. So maybe they won't be. Yeah. Maybe they won't. Maybe they're too late. Except maybe >> I don't think >> petition >> I don't think having Yeah, the citizens petition could still make it because they have until March 19th. >> Um
>> but the I think the do licenses are due the first of the year. So technically they could be on the special town meeting and still make the next cycle. Like I don't personally understand why they would have to be on the >> ATM. >> That could be a question if they think it needs to be on the ATM. I guess, but
>> okay, I'll ask I'll ask I'll clarify that Thursday. Thanks, Julian. >> Yep. Someone who had to do two dog licenses because I keep losing them. All right. Um Okay. Are there any other
um updates from members? No. All right. So, uh that means we'll be on to the next topic, which is future planning. So, our next meeting is currently slated for March 23rd. Um, Aphabet has confirmed that they can come and talk to us um about their budget um
and about the you know the town the town meeting uh article the general fund where they sort of show up in our in our budgets. Um are there any questions that the committee members would like me to bring forth to ask a bit before that I can
share ahead of the meeting? So I think the the main question that was talked with the Maynard school group was just understanding more about how the minimum contribution works and really going over that. So they do have a slide on that in their presentation. Um but I I mean I can also share ahead
of the meeting that that's something we're definitely interested in talking about. Um >> um no I mean I asked the question of mayor people just to get an outside sense. Um yeah I don't want I I don't have more
questions. I mean, I'm trusting that two school finance experts have stated this is the case and you don't really need to be in the weeds on state net school spending rules or laws.
>> So, I I I I don't want to belver it with them. Um, and in fact would go as far and I get it's a lot of money but you know given they don't really have much of her
options with their budget. Um, is it worth spending time with as or I I throw that out to the committee more that I mean there's not much to change with
it. Well, actually that's not really true. All right. Uh the one thing I might ask is so I believe we did a change to their governing documents and it was a
separate town meeting article that allowed them to plow their you know excess and deficiency uh money or free cash essentially um into a separate fund that they get to
retain for school building or for something or other for capital. Um they also have a line which is like an extra amount. I mean it's only 300,000 split among all the towns for capital funding.
Um and I don't I don't know if they could apply that 1.2 million they have of free cash to reduce the town assessments.
So, actually, maybe that's a question for them. Um, but did that make sense, Jill? And you don't really need to ask them in advance. I'll look at it more closely and be better prepared for when we're
with them. Um, but so I guess I do I do want to talk to him, so never mind what I said. Okay. Um, but you don't want to share this ahead of time. So, basically, you're asking about that town article we had for the excess and deficiency, the
free cash, and what that can be used for, >> and why isn't it being used to reduce the assessments? >> Yeah. >> Okay. All right. Does anyone else have any other questions or otherwise you'd like to ask or have me pose to ask a bit
ahead of time? Um, I was also thinking about asking um, something I think we talked to them in the past was about how there's less people participating from outside of like the membership or the core me forget what the exact term is. So, um,
those students are like more expensive because they're not part of the core membership. Um, and what that means like obviously it means that we're going to be assessed for more money per student. Um but like if that will ever increase to
be what like external students would pay I think there's always some kind of delta but just for me to understand how that formulaically works I think would be interesting to understand but theoretically there should be um a
benefit to being a member All right. I'm not uh hearing any additional questions at this time. Um so I guess I'll go on to the March 30th meeting. So um that will be our meeting with Justin the DPW and going over the
articles. Um he did share with me some um additional documentation showing from the state um and the federal um like municipal services that were in a significant drought status. So and this
has a detrimental effect on our water pumping ability and quality. So um he wanted to pass this information along to the boards for their understanding. uh in these documents I'll also attach to the the March 30th um meeting materials.
So I did want to you know let everyone know about that. It'll probably mean that there'll be you know water restrictions in the summer for like watering and other extracurricular things as there have been in the past. Um yeah, obviously it will be a challenge
um going forward like there's only so many wells we can drill I think is is what he's also saying. >> Yeah. >> Um has anybody been listening to select board meetings and has there been any
further discussion of the override? >> Yes. So there has been um Justin presented a really nice um on the the March 3rd the last select board meeting um he presented sort of three different scenario
for what the increase to the water sewer um bill should be. So if it was either 5% 7% or um to if we want to fully incorporate the override instead of doing an override do it entirely in the
enterprise fund. it would be an increase of 50% of the water bill. So he said that it was not tenable to be able to do such an increase um in the enterprise fund itself. And that is why
he's proposing to have it be an override to the general fund. and the documentation he presented at that meeting which is also on board docs sort of has figures for that and goes through how he broke down what that number is um and how that would work but
he said effectively it would be a 50 a 40 I think it was like 47% increase to the water bill to be able to bond for that money um and that is since it's an onuse system um theoretically people would try
to use less water if there was that big of an increase. So, uh it could also be a challenge uh in that aspect. If people use less, they might not make what they need for the bonding either,
>> right? But he said theoretically if everyone's use stays the same uh and the bill was increased by 50% that could also be used for this um water bonding but he thought that that was not that was not what he
would recommend. So would he recommend splitting some on water bills and some on tax bills or going 100% tax bill? >> He did not present an option where it was partially on the enterprise fund and
partially an override. Um he only presented if it was one or the other. if it was fully on the water bill or fully an overread. So, I mean, ju just so I understand like it's it's the same amount of money
either way either way, right? It's just whether it's being pulled from property taxes or from water usage. >> Like it's it's like >> Yeah, let me let me see. I'll I'll see as you all are talking if I can quickly find it.
>> And it's not a matter of, you know, >> pay it one way or another. Is there any issue with timing where like an override gets it to the W department like faster than letting it build up in the enterprise fund or
anything like that or is there any difference that we could detect on who pays the burden? So the difference between like resident, you know, the taxes are just going to be on >> homeowners and the water bill might be
on, you know, to the extent that renters are paying water bills or businesses are paying water bills, would there would we shift the cost to like people who have water accounts? This is on this is on the select
um this is this document here the tech rate recommendation >> um >> the zoom bar in my way um so they presented these three options like I said so one is a 5% increase
one's a 7% increase to water sewer is like 7% in all of Option C is the 47% increase uh for covering like instead of doing an override to do it that way. So um
the the presentation was really good. If you watch the recording of the select board, the p the representative from SAT explained the slides very well um in a very detailed way. Um so I would recommend that watch on YouTube. This graph doesn't go to 47%. So, it's
not correct. He it's just sort of shrunk down. So, you can see like these are sort of the options. It would like really jack up um in this year if it went up that high in this orange line and then it would sort of come back down um for after the one time bonding.
>> That's like that's like the derivative, right? Like that's like that's like the rate of change, not >> Yes. So, that that's deceptive. It would not come back down. >> It is deceptive. >> It's like taxes. I mean, it wouldn't continue to go up by 50%. >> But that 50% increase would be baked in
for the next 30 years. >> Yeah. >> 20 years, whatever the bonding's for. >> So, and then these So, this is like an example of how this would work. Um,
so and then what it would go towards and then this is like the cash in and the cash out. So like if you listen to the um they would do a 30-year term with a 5% interest rate. So the annual debt payments would be 1.7 million.
And that's how they're breaking it out over the bill. So like you said, it's not going to it's not going to come back down like that. It's going to it's just going to be really much higher. And then this is uh where is it? So in the bottom here, the bottom line, this is the
average. So like we talked about, there's three I think there's four different tiers that they charge water at based on how much you use. This is like the average one that most people use. Um and it would give an idea of per
quarter. This is not per year. how much water bill would cost. So it would it would jump up from like 250 to like in the 300s for that tier of water use. It's just which bill it's going to go
on, right? and then 7% it this is what I didn't understand from this presentation because these numbers per quarter are the same as these
numbers per quarter like the ones in the blue line. So, this is what I wanted to ask Justin about because like theoretically I should be able to look at this slide and be like, "Oh, if they go with 5% water, like my water bill here should be like 293, but if
they go with 7%. It's still 293." Like, these numbers are not correct. I think this is what I'm confused about. Like, I would think that this water bill should be different between the scenarios and that's how I can tell.
what I would be paying unless someone here smarter than me is like, "This is why it's the same, Joe. Stop being silly." But I don't I don't understand why those numbers are the same.
Now, this one has more cash in than cash out over time. I I just wonder, you know, because 47% that's that's a huge number, and I know this isn't what Justin is advocating for. Um but yeah, >> you know, if the burden falls either way, uh like
residents of the town are going to be paying the same amount. I mean, yeah, it's it's it's going to be really important to factor like renters have to pay the water bill, but you know, they're not necessarily paying the property tax directly. Um so that's really important to consider. But what
Justin mentioned as a drawback that um a rate increase like that would decre decrease water usage would discourage people from like that that doesn't actually sound like that much of a drawback if if there's a drought going on too,
>> right? Except they need the revenue. >> Then they have to go back to the other plan anyway. So they're doing both >> or they have to raise rates even further >> for like a small amount >> or Yeah. Yeah. >> If volume goes down, they have to raise the rates. >> Yeah. That's why he was when he was talking about that as a negative, it was
about that, not necessarily the actual volume of water usage. It was more about the theory of the plan itself kind of becomes either self-circling demise or you have to use both pathways. But like if typically per let's say per
quarter your water bill is $350. If they're going to increase it by like 47% that's like $525 per quarter. That's a lot of money. So, um
I don't know if it is if it is spread out throughout the town tax base if it would be the same impact. So, like if you have like, you know, a family of four, you're going to probably have a higher water bill because you have more people that take showers and
do laundry and whatever than someone who just lives by themselves. But, you know, that would be a significant burden to the family of four. >> And would the override be more gradual, like it's a smaller annual increase over
a longer period of time? >> Well, no. I mean, either way, I think they were saying so bonding will cost 1.7 million a year to the town budget, whether it's water or taxes or some split between them.
It's still 1.7 million. Now, the question about how exactly water distributes over the town versus tax bill is a valid question, but the total cost is the same, I think. >> So, this is this is a slide I was trying to find. So, this this has actual real
numbers on it that are not the wrong numbers from the charts. So you can see in the different scenarios like if your bill in 2026 is like this every quarter then this is you know if scenario C it'll go from 250 to 350.
So like so it's like almost $500 a year. I guess a lot of the discussion would come down to does the town view this as more of a, you know, by household aka taxpayer or
by usage because it would impact the family of four significantly more. But on the flip side, the family of four uses more water. So, but the benefits go to the town as an entirety. So, I see arguments for both sides.
Right. I don't know. Um, Nathan, if in your spreadsheet, can you plug in like if we have a where was the bond? They're they're doing a 25 million over 30 years with a 5% interest rate. Like, is that
something you can plug in to the like spreadsheet that you have to figure out if that number is more or less than $500 a taxpayer? You know what I mean? >> Oh, well, I mean, I think we can do one better. Uh, isn't that something that the the property tax impact calculator
on DLS um we can punch it directly into there to see what the average single family household bill would change by? So, let me let me pull that up right now for Maynard. And what amount did you um
say it was going to be? >> 25 million. It'll be 30 years with a 5% interest rate. 30 years with a Oh, this this one doesn't seem like it lets you uh change the interest rate. >> Okay.
>> Right. Because this is a um this isn't a uh sorry this is not this is like a not a debt issuance. This is the water bill is a debt issuance, right?
Not an operating expense, not an operating override. We do have that debt service debt exclusion calculator as well. And um we could enter in the amount to be borrowed, the interest rate, and the term. Um would would you guys like me to
to do >> that'd be super? Um, so 25 million and then five 30. Um,
see, but I guess it doesn't it doesn't give like the text. There's like because I think Nathan and I we had done this like a while ago like combining both of them if you remember and stuff. So I guess I would maybe want to take a little bit of extra time perhaps but if you do level
debt service the total principle and interest is 49 million and if you do level principal the level principal is 44 million. So it would take it like an extra step to plug that into the tax calculator and stuff but that that is possible to
calculate. Okay. Yeah. So, I mean I think and I didn't sort of have a comparison here for that like versus what it would be on an average single family tax a single family home tax bill um in relation
because I think that would also be important for to weigh what direction to go. Uh, Nquille, that you the $49 million that that was over the lifetime of the loan. So, I guess it would be 49 million divided by 30 for the annual amount.
>> That makes sense to me. Um, it's a 1.63. >> Yeah. Yes. And that's that's what I'm saying. >> Payments of 1.7. So, it's close to your 1.6 whatever. I could I guess uh if we wanted to be
perfectly precise, it's some uh 1 63 uh 638 million. Um so that's exactly in the right place. Um but yeah, so this is definitely something I'm hoping to talk to more um to Justin about.
Um, and I don't think I think that that meeting was their public hearing for this, but I don't or maybe it wasn't. I don't know if they voted on this then. Um, I don't think they did.
But um but whatever they're going to vote on for the water sewer rates will be implemented July 1st. So um ah they set the rates on March 17th. So that's when the actual hearing is.
So, and our meeting with Justin will be after that. And Jillian, can they um can the select board without an override vote just vote to increase the tax bills? I
mean, sorry, the water bills. And and are they allowed just to do this um bonding without an override vote? >> They're the commissioners, so they set the rates. That's >> So they set the rate. So they could just
do the select board could just >> could just do this 47% thing >> without an override. >> Yes, they can do it without an override. I think the bonding would have to go to town meeting, >> but it wouldn't take a townwide vote.
>> Okay. All right. Any additional uh questions or concerns on this topic? when when I plugged in uh 1.7 million into um DLS to see what the impact to the average single family tax bill looks
like it's $400. Does that sound roughly right to anybody else just to >> Yes. >> Yeah. Okay. >> Yeah, cuz if I went on what the um water bill was, I think it was a 500 something. So, low 500s.
And that was for not the bottom tier, but like the next tier up, which I guess is the most populated one. All right. Any additional discussion on that topic? Have we already said that we want to know why that the idea of having a split
between increases in the usage versus an override or debt issuance was not at least presented or considered? I'd be curious as to know why they went 100 or zero. Uh I don't believe that it was a topic.
Um, but I can double check or I can ask about that like if there's a there might be a financial reason why you can't split a cost between an enterprise fund and a general fund. But I >> just not feasible to to plan it that way
at least not easily. So that could be a second consideration just logistically. But I'd be curious. >> Yeah. I mean I think it's you could split it any way you wanted. I I think Justin wasn't entertaining the idea of
it being just in the water system. And then some people were saying, "Wait, what would it cost to do it?" So he just did it as 100%. I mean, I I think you could split it. I mean, we
know the numbers. So, you know, if you were going to do 50/50, it would be $200 on the tax bill and $ 250 on the water bill >> based on the numbers we talked about tonight. >> Okay. >> All right. Yeah. So, I'll definitely ask
about that. Um, and um, we want to talk to him about all of the water sewer articles, too. All right. Sorry, my dog has a lot to say. Hopefully, my noise cancelling is canceling that out. Um,
all right. So, that's what I have for future agenda planning. So, at the next meeting, we're going to talk to Asabet. Uh I'm going to also put on the annual town meeting discussion. So recommendations, outreach, the um draft, the budget, the updates, uh talking about articles received and potential
recommendations and votes. I'll also put the routine agenda on there. Are there any other topics that other members would like to have um for our next meeting on the 23rd? All right. Not hearing any at this time. Um so if
that's the case, um I'll plan for that to be our meeting at the next uh our topics for the next meeting. I'll send out the uh agenda to get posted. I'll also share it to Asabet so that they can confirm their attendance. Um and I'll definitely keep you all updated with any
additional ATM articles I get. So um and I'll send around the draft uh comments we have so far. or recommendations. I think that is all of our topics of business tonight, friends, unless anyone else would like to bring up topics.
>> Um, very very briefly just to confirm the the $400 sort of eyeball amount that we were talking about earlier. Um I ran it through that same process that uh we had done sort of last time with the debt service calculator and then the the draft tax calculator and then so for the first year it would be um $3774.
So right in that ballpark pretty much. >> Excellent. Thank you for double triple checking. We appreciate that. >> Cool. All right. And I think with that that is all of our topics for tonight. Would
we like to adjurnn or continue our meeting? >> I'll move to adjourn. >> And I will second to adjourn for March 9th. >> All right. So, we have a motion to adjurnn at 9:35 p.m. Uh, and a second.
So, I will take a roll call vote to adjurnn. Linda, >> yes. >> Male, >> yes. Nathan, >> yes. >> Peter, >> yes. >> Katie, >> yes.
>> Nathaniel, >> yes. >> I am also a yes. Um, so we are adjourned. Thank you everyone. See you next time. Bye. Good night. >> Good night everyone.