call this meeting of the finance committee to order. Uh we are hybrid tonight. So, see, I'm expecting it looks like I see exactly one uh uh committee member on Zoom, but we'll do a roll call vote uh without Ed reminding me this
time, which will be great. Um call to order. So, uh starting on Zoom, uh Emily Sison. All right. Uh Fuzzy Bowski. >> All right. Uh Jeffrey Cororum >> here. >> John Mcdana
>> here. >> Henry Kou. John Solomon here, Mark Zero >> here, and Joe Carneahan here. Uh, so welcome everyone. The first item on our agenda is public comment. I don't see uh any members of the public here. Um, but
give a moment if anyone uh wants to raise a hand on Zoom. I don't see any there either. All right, moving right along. Uh, leazison reports. It's only been a week since our last meeting, so I haven't been that many meetings since then. But
does anyone have anything to share? I see. Oh, I see we can add Ed to our list of attendees. He just joined um at 7:03. Um catch that few minutes. So, uh I don't think I need to do another roll call when someone joins me in the
meeting. Yeah. So, we do have to start with a roll call in order to call to order. I'm going to hide right. All right. So, in that case, let's jump into the meat of the agenda. >> I do. I do have one from um >> Oh, you have a report. Oh, okay. Cool. Sorry, I didn't see your hand. My bad.
>> Um uh Kllum um school build school building committee met last night. Um I think the um you know kind of um mostly the way through the meeting I was there I was u um following after after
the fact. Um but um um you the main thing that um was uh discussed and debated last night is you know kind of looking at ways um for uh um the you know kind of
the community to um do like some early packaging um so that we can do some more site work um things of that nature. Um so it it helps us um you know one from a I think from a um a cost perspective but
also from a scheduling perspective if we can do some of this um you know kind of early site work um that that that could um help us um you know kind of down the road if we you know kind of run into some any kind of um issues. So, um um
there's uh there'll be more that that we'll kind of report on in a in a couple of weeks uh in next month's meeting, but um uh but by and large, it's um um you know, things are still from a cash flow perspective, we're right on um uh right
on budget um and right on schedule. >> Thank you, Ed. All right, anyone else from the Aison reports so I don't miss anyone else? All right. Um, so, uh, the next item on our, uh, agenda is
to discuss, uh, financial policies and impacts on bond rating. Um, just to, not that I need to refresh people's memory, it's only been a week. Um but at our meeting uh at the financial forum a week ago uh we talked quite a bit about um anything that might impact the down bond
rating given that we are about to take out uh some really significant borrowings uh for the Kilum and senior center projects. Um so another topic that so I guess we we asked Sharon for any more information we could get about
things that impact bond ratings. This is something we can ask council about. So if there's anything to share there we'll do that. And then also the subject we've touched on a couple times about financial policy review. I want to talk about that because uh having solid financial policies is unsurprisingly
something that lenders like to see. Um Sharon, do you have anything on this doc? >> Yes, thank you. Um, I spoke to the bonding agent yesterday, um, just because one of the questions Karen Herrick had asked was, "Can you give me
an idea of like what the difference would be in the borrowing if if we had our bond rating fall to a a double A plus from a AAA?" And she um did the calculations based on yesterday's rates,
if we were issuing the whole $85 million yesterday. and she said the difference was about $1.3 million in interest over the life of the loan. So, it's definitely something to consider. I feel like that's a significant amount of additional interest to consider. Um and
and also too, I had sent in your packet um some of the things they tell you online about um municipalities and and bond ratings and they do kind of point to the 15% number there saying that a 10% isn't good enough anymore. So, it's
definitely closer to the 15. In fact, the the bonding agent was saying we like to even see higher, you know, and and so I do feel like we're in kind of a very close too close to call trying to to figure out if we could be in that situation where we could be downgraded
because we are using significant amounts of free cash the last couple years. So, I do think it's important for us to kind of look at that. The only other thing I had mentioned at the last meeting was um they like our financial policies and we've gotten our AAA bond rating with
those policies that are in place. Um one of the things that was in um the information I sent you did say that strong adherence to a 15% minimum reserve. We don't have we've never had a policy that said we have to have a 15%
but that was what was pointed out in what I had seen and even speaking to the bonding agent they really it's not the whole um that they're looking at a lot of factors. It's not just what you have in reserves. It has a lot to do with what how much debt you have outstanding and we have less debt outstanding than
most. And I feel like there's a lot of good factors going in our direction. They also look at your long-term liabilities like OPE and pension and how you're doing with that. And we're almost 80% funded for pension. So, we're not in a bad space there. So, but I do feel
like this fiscal 27 seems to me to be the last year I'd be comfortable that we could stay in the AAA without going for an override next year for fiscal 28. That's just my personal opinion, but obviously I'm not the one who makes the
call. I'm just giving you what my thoughts are. >> Uh, thank you. Are there questions from the committee? I see Joe >> quickly. The 1.3 million is that based on >> Can you steal one of these microphones for I'm not sure if people on Zoom can hear you unless you do
>> I can't hear him. I'm sorry. >> One second. Is the 1.3 million based on all the debt that we would potentially take on or >> Yeah, she just ran it as if all the debt was issued yesterday for two for a AAA bond rating and a double A. What what
kind of rates would we be looking at? And originally when we first talked she said it could be anywhere from 5 to 25 basis points the difference between those two ratings. Um but yesterday and that it it it fluctuates depending on what's going on with the market. It would have cost us $1.3 million more to
be a double A plus as opposed to a AAA. >> And she's like just taking the same assumption on the terms that had been talked about before like the town meeting. I forget exactly like 15 years. >> I think we said 20 and 15. I I I I would imagine she did it under that. She
didn't she's going to do more um detailed calculations for us. I'm going to send her some more information, but um I think she did the same term, whatever it was. Whether she did 30 or 20, I'm not sure, but she's like there there is a significant interest
difference between the two. >> Okay. Thank you, >> John. Fig on that. Sharon, do you have a sense of how much of the total debt we're looking to borrow this year versus future years? >> I I'm sorry, I didn't hear that one. Do you have a sense of how much of that
total debt for these projects we're looking to borrow in this coming fiscal year versus future years? >> I estimated it to be 45 million for kilum and 16 for recal. It could be less. I mean, we're still working with
our bonding agent, but I always, you know, I'm very conservative and I gave you higher of the two numbers I was looking at. Um, and so I would I wouldn't imagine it would be more than those numbers for the two projects, but we we're going to work through it with our bonding agent just to make sure
because we have to be able to spend 10% of what we borrow within 6 months. So there's like very strict requirements on what you borrow and so we really have to make sure the cash flow lines up with that with all the expectations of the the borrowing. And so that first that
first hump the 6 months spending it 10% of the money you borrow all of the money you borrow 10% of it has to get spent they want to make sure that we're going to you know reach that hurdle >> okay and so am I
uh understanding this right if we're looking to borrow about half of the total cost this year and if and we're confident that we'll have the AAA bond rating this year and it could go down to double plus in future years. Am I off
base that that 1.3 million could just be 650,000ish? >> It could be. >> Yeah. I mean, if you're looking at it from a half perspective, she just kind of ran the numbers for Kellum just to give us a feel of what the difference in that, you know, life of the loan would
look like. Um it it could be about half, I would say. But also its bond is its conditions at the market when we're issuing too and what the rates are in the market. I mean, we could issue in January and next year when we go to issue, it could be a lower rate, so may not impact us at all. It's hard to know.
Um, so I do feel like um they are they are saying the market is really good right now for us um to enter. They were actually even seeing if we could potentially try and enter the market in December as opposed to January. So, we're entertaining all options because
they do feel like it's a good market for us to get a good rate. I don't think that they feel like with the financial information that they've seen that we're in jeopardy necessarily, but you know, they're not S&P. They're the one who makes the call of whether or
not, you know, our bond rating will hold. But I feel like with each passing year with our reserves going down that that's a risk. >> Yeah, that makes sense. I mean, we're if we're borrowing the current fiscal year, obviously that that half won't be
affected by what our balance is sufficient here. >> Okay. I see I see Ed, but I see you haven't marked first. >> So, neither projects out to bid though yet, right? There's no >> nothing's been out to bid yet. No. >> When would the timing of that be for both projects?
>> I think it varies for both projects. Um, Matt, do you know the timeline for them >> in terms of bids? you're saying is you know are we even going to are we even going to be able to start in the January time frame? >> Yeah. No, I think I mean we have January
slated for both projects to start. So those packages are being created right now by the OPMs and a little bit by our inhouse procurement. So you know that they're both underway though. Yeah. >> I feel like based on the cash flows both of them will spend the money if the cash
flows are accurate. But I've requested, you know, updated cash flows from both projects. You know, we're going to keep looking at the cash flows. If if there's anything that slows the project, it could jeopardize our ability to make the threshold of 10% spending.
>> Uh Ed, >> um more just thing. Everyone but Mark is I have trouble hearing. >> Even Matt, even you on the on the on the last one. Um, I don't know if your mics are picking stuff up or not, but it's pretty hard to hear you.
>> You can't hear me, Ed. >> Sharon, you are perfect. >> Okay, you're perfect. Everyone else is tied for last. >> I feel like the mics in the select board room when I'm on Zoom, I have a hard time. >> Yeah. Well, there we >> get those mics really close to you.
>> Yeah. And we have a bunch of soft talkers. >> And make sure your green light is on on that on that mic. >> Yeah. I think you need really to speak close to the mic, directly into the mic. It should pick it up. And I know that >> that's better. >> Yeah. >> Yeah, that's better. >> In the past, sorry about that.
>> All right. Oh, yeah. We're going to pass another microphone along to better supply the committee. >> Uh, at this point, we have one mic per inperson committee member. It's not going to get better than that. So, everyone just needs to uh yeah, lean
literally lean in. All right. Um, other questions for Sharon? I do want to give an update on the topic of uh, policy review and I think Matt might have something to share on that as well with respect to the select board. Um, there
are questions on what Sharon said. I want to let that go first. >> I guess go ahead Jeffrey. >> Do we have a number for what the 23 peer communities have as a target for their uh, free cash balance? I think I read something in the last month or two about
Winchester tightening the band of their free cash from like six to 10%. They wanted to narrow it to like 8 to 10%. I But I'm completely making up the numbers. I just wondered if we look at the 23 care communities where are we
in comparison? >> I'm sorry. I don't know that. I could I could do the research for you. I haven't seen anything that would give me that number recently. um comparables on DLS. Um but I do feel like when you do make a move where you're increasing the reserve shows that you get how important the
reserves are. Um and I'm guessing that's why they would have done it, but 15% we're not in a position to go to 15%. So it it's one of those things, but I do feel like it never stood in our way in the past. But any progress in the direction that they're hoping for, I
think will be viewed positively is my guess. I wish the DLS website had a button where I could just click and select our 23 peer communities. Actually, the 21, I think, but um uh out of the 351 instead of manually scrolling through 351 to select them, but it should be possible
to see there what the um uh reserves are for our pure communities. Um though I don't think they have it broken down as a percentage of the budget. Uh Henry, go ahead. So um on the email from the bon bonding
agency there is a statement here that says um a municipal bond rating AAA is impossible without at least 10% of the budget in reserve. So, moving to 10% would that be? Well, I guess it's an
open-ended question. What how much of an impact on the overall budget that 3% additional would have? And is it something that we should consider at some point or >> I feel like it's entirely up to you guys, but I do think that um this, you
know, if you're looking at the free cash um charts that I gave you to work with with the different levels of operating budget, it felt like no matter what we ended up using this year, the next year we needed to do the override. look like it's just we we're not even going to
adhere to the 7% if we don't start um thinking about it because I feel like we'll have to drop below in some circumstances. I think some of them we might be okay for fiscal 28 but for the most part if I remember correctly I felt like fiscal 28 we were going to have
issues staying above or just barely staying above the 7% that we have outlined in our policy. Mark, >> especially free cash goes down and and my conservative projection of three million of regeneration is is comes to
light. >> Sharon, in the budget, do you have a 100% of the capital budget coming out of of uh the operating budget? >> That 100% of the capital budget comes out of the operating budget. Yes. So if
we you know I think that when we look at capital and it's written in the in the policies like you know some can be financed and I do I know you do finance some but if we looked at you know the the capital equipment we're getting with you know longer useful lives if we did
do more debt on that that would lower our need for cash. Correct. It it could lower our need for cash, but it also increase our debt load, which all of that impacts the bond rating. So, >> way
>> I thought I thought our our debt level was was lower than what they >> It's very low, but we're looking to add a significant amount this this round with the kilum and recal and pickle ball and birch meadow and and the field toss
floor. Those are the things we're looking to issue in January. I don't think it would make a huge impact necessarily on us because we we do tend to pay off our debt very quickly and that's one of the things that S&P likes about our management style for financial management. We tend to pay off as quick
as humanly possible and that's what they like to see. Um so it is a possibility that we could um borrow but we'd need to put debt articles on the town meeting floor um to do that. And right now
that's not the way it's structured in what I presented to you last week. Thank you. Um other questions for Sharon here. So I still continue to be fascinated by the fact that the U bonding agent says
that where they're very happy with our current set of policies, not that our current set of policies is bad, but if the baseline is the set of policies recommended by the state, there are an awful lot of things that we don't have written down. Um so
um uh along those lines actually so I guess well actually Matt I should let you go first because we we did ask the select court to look into this and I understand they have responded. >> Yes they have. So they did receive the memo from the chair and they've added it to the next agenda which is on the 21st
of October. So the agenda item is review and vote on finance committees request to receive free review of town financial policies from division of local service services financial management resource bureau. That's on for 8:35. Um and I had
asked the chair if you wanted to post that meeting or if the chair or vice chair would be able to attend just just in case um select book does have any questions on it. Um, I don't see any issues with this item and I think that once they vote on it, that'll kick off
that process and we can start from free review. So, >> cool. So, the my update which I think might be sort of rendered obsolete by the selectboard update is that um, uh, one member of the select board Karen Herrick reached out to DS herself to ask
about this topic. Um well actually specifically asked to ask she started by asking if they had heard from us. They had not. Um but then uh Zach Zachary Blake from the um uh what is it called? The the it's the bureau of helping us.
It is the financial management resource bureau um a resource to our financial management um did write back and Karen included me on the reply um to you know offered to chat with us for 15 minutes on the phone at some point or on Zoom at
some point. Um may still have that conversation but it also might be a new point if the select board was going to reach out and it would be the real connection. Uh they did send me um which might be of interest here and I can actually I can send this to uh Jackie to just ship to
the community committee. Um a copy of the template they use. Um apparently the the way they're able to offer the service for free is that they have it all worked out. Um there is a template and you swap in names and numbers uh in this large document and it has a whole
set of policies. Um, it doesn't have one of the policies that we've talked about visiting, namely the peer community policy. Um, so that actually might be something I might take advantage of the phone call to ask about um to say what, you know, where do you all stand on peer
community policies because we certainly find that useful. We use it. It's already come up in this meeting in a question. Um, but our peer community list is getting a little bit long in the tooth. So, um, it's probably worth revisiting, but I don't know if they
will be able to help us with that or not. So, I think it's still worth pursuing even if Sharon says our current set policies is good. Um, so hopping back to the agenda. Uh, do we have other comments or questions about
the topic of financial policies and our bond rating? Joe. >> Um, yeah, looking at the debt in capital the debt in capital policy like right now it says um, and again I don't know
if you should read this as a policy or guideline but it says there should be a minimum of 5% of revenue and like we're talking between four and three quarters right for the current proposed budget. So we don't want it against our policy.
It is an internal policy. So, we can make a judgment call and and and go against what we what our typical is. Um, it is an internal policy. There's nothing holding us to it. It's just it's just writing it out saying this is our intent. This is what we hope to do in
most years. Um, so we are doing the 4.75 is kind of going against what we have in writing there, but it is to help with the balancing of this budget and minimize the use of reserves. >> Yeah. And I think that makes sense, but we just might want to change the wording
at some point to, you know, make like a recommended, you know, minimum of 5% or something. And then I guess my other question too is that the um and this is 2018, but the finger is the treasur to
consider refunding in advance refunding any eligible outstanding debt when the savings net of issuance cost cost exceeds 50,000 annually. So I I don't know if what like what triggered that 50,000 threshold, but like that needs to be updated. I I know you look at that,
but >> So anytime we're issuing debt at all, our bonding agent is looking at any opportunities for savings and most of our debt has been issued at such a low rate that there is no savings out there for us. It's kind of a I guess a guideline that was written out for us
to, you know, make sure that if we are going to refund it that it that it's worthwhile savings. Um maybe that 50k isn't the number. Maybe it should be some other number. But right now we're in a space where we're coming out of very low interest rates. Um and now
we're issuing it higher than what we we have in the past. We've got very little debt on our books. So there isn't anything that's even a candidate for refunding right now. >> Yeah. I'm just thinking about the two big projects coming like at some point. I don't know if it should be a percentage of the project or just you
know absolute dollar terms. I'm not sure. [Music] >> Other comments or questions on financial policies and or bond rating? All right. So, um here's the big one,
folks. Uh our biggest decision of the year every year discuss and vote on use of free cash to support the FY27 budget. Uh obviously we got a presentation from this on this from Sharon last time. Um Sharon I don't have anything new to add or I should just open up to the
committee or after you don't have anything else new to add I will open up to committee for uh comments and questions. >> Do you want me to share this slide that shows >> the options choices in terms of percent impact on the operating budget and absolute
dollars? That's a very useful thing to have on the screen. Not that we don't like seeing all of you on Zoom, but this is, you know, we do really need this. It give me a second. I have it open, but I can't see it when I hit share.
There it is. Can you see it? >> Give it a moment. Oh, there it is. very high numbers. So, does anyone have any comments or questions or thoughts they want to share?
Emily has her hand raised. Oh. Um, sorry. Thank you for catching that faster than me. Emily, please. >> Can you guys hear me? Okay. >> Yes. >> Okay, cool. I switched microphones. Hopefully that's better. Um, so, you
know, I I've been thinking about this a lot since we heard the presentation from Sharon uh last week. Um, it's a lot of free cash. It's all of it's kind of a tough tough number to swallow. I think this is much higher
than we anticipated we'd be you know even two years ago. Um but I you know where I'm kind of sitting hearing Dr. Milichsky say you know the the 3% with um the the arrangement the town and the
school have made to kind of help each other uh with you know I I feel like since the absolute value of the difference between 2.75 and 3.0 0 is only 200k, you know, free cash
usage. I I feel like giving what the schools need to not have to slash any services or any programs um is kind of where I'm landing personally. Um I think you know when we look at
those projections that Sharon had shared in the the Excel file you know whether we do two and a half whether we do three and a half you know we're looking at an override all for fiscal year 28 I I think that the difference the negligible difference
here can have an impact on how the schools are able to operate. So, I'm leaning 3%. Um, but can be swayed. I know this committee has lots of thoughtful arguments all the time. So, that's what I have to say.
Thank you. Other comments or questions. Say, Joe, I see you looking at me. Go ahead, Joe. but close to the mic. It turned off. >> Yeah. With I'll have respect for you, Emily. Um I I guess I was coming away
last week thinking of like 3% and I hear what you're saying about like the 200k in the big scheme of things not being that um significant from a free cash usage when we look at how much free cash we're spending. But I was looking at,
you know, I I heard maybe the the school can make it work. You know, my only concern with going down that route would be I'm not sure what, you know, the town is is potentially, you know, how they're being impacted to it's nice that they're transferring to the schools, but just
want to make sure I understand what the town is like maybe not doing. And my other question was more thinking about an override and how taxpayers may view this. You know, at Haitian, if they look at, you know, what you know, the operating budget has increased over the
last couple years. Yes, it might be that perception that you should have started reducing, you know, cost earlier, right? By all of a sudden you jump into the override and I hate to say send a message, but the 2.75
might be is very close to the 2.5 um you know which proposition two and a half force doesn't send you. So, >> right. >> Do you want me to respond to that? >> Uh, please go ahead, Matt. >> Sure. Yes. So, I mean, the the deal we reached this with the school is I think it's it's helpful for both of us. I
think with the the the sweet spot here that Sharon outlined, we'll still be able to do enough. I mean, we we've known and I've been telling department heads for a year now, you know, keep expenses low. We have to really keep an eye on things. They know an override is
looming. Um, and if we were to go into a more drastic situation for the town, that would mean, you know, you know, a lot of cuts to expensive expenses and possible personnel cuts, which I'm trying to avoid this year, and I know the superintendent is as well. So, we
had several meetings in my office, the superintendent and his team, with Sharon, um, our team, Jane Wellman, to talk about these things. And this is really, we're both very comfortable with it, both myself and Dr. Milichsky. if we could go with that that 3% number. Um
it's I don't think it's extravagant. It is, you know, an increase in free cash, which we knew was coming, but we had um started out, we just threw everything in on both sides. We were looking at maybe even seven up upwards of $7 million of free cash. And I'm like, that's not
going to fly. We need to cut it back. So, we really did sharpen our pencils, you know, cut back as much as we could, but still want to deliver top services, which is what I think the public demands, um, on both the school and town side. So, um, specifically, we're we're
going to be in good shape if we have that number that chairman's talking about. Anything lower than that is going to be problematic for the town and certainly the schools. Um, anything higher than that would be appreciated and we would do other things. is, you know, there there are things that the
department heads have that they'll be outlining to select board later to finan that they sort of wish they could do, but it's not it's really not on the books for this year or maybe next year. So, um, and I don't want to get into too many specifics, especially on the personnel side of things, but you know,
I think you can envision what we might need to do if it's too low. If it's in the middle status quo a little more, if it's higher, we can do a little more. And that's, you know, the way I look at it. So, thanks. Thank you. Uh, Ed, I see your hand on Zoom.
>> Thanks, Joe. Um, so, um, >> prior to Matt speaking, I was I was thinking more, um, ju just, you know, um, I was looking more at the 2.75 uh% versus the three. and and and it
just you know uh you know to Emily's point I know it's not a lot of uh a lot of difference but I just think it's um it's one of those uh things where if we're heading in that direction I think it's um it's it's
you know kind of incumbent upon uh us to you know um start to you know further kind of tighten the belt um and then so then Matt and then you know with your you know kind of you kind of um your
latest feedback I think then you know you know I'm I'm more comfortable with three but I think one of the things that we just need to do and and you and I'm sure you and Jane and others and the department heads are already thinking this but I just think we need
that messaging needs to that needs to be kind of coming out all the time the things that you know and maybe we're all going to hear that in this round of budget um presentations and reviews. But I think that um we need that um sober,
you know, kind of messaging as far as what, you know, um what aren't we doing? um what would be cut um you know things of that nature because I think that is going to be you know kind of playing this out you know kind of um you know
this conversation next year um and as we start to talk about you know um remedies and and what and what the size and and scope of those are um it needs very powerful messaging and and having some of those specifics um will
definitely be um would be helpful And I think that's, you know, um would be helpful for, you know, um, you know, kind of in in in my analysis at looking at looking at this is like, okay, well, how how hard does that $200,000
um, you know, dollar difference, you know, what is the real impact of that? Um um and again I I fully appreciate that you know in the in the grand scope of the budget that's not a lot of money but if it's if we're you know kind of uh nashing teeth and threading needles to
get there then I think that's um you know something that you know would be more specifics around that um um is is is always helpful um you know again and I know in the discussion last week um you know kind of what's coming up with
uh collective bargaining and things of that nature. I think those are all things that um you know I think we're just going to have to be in a um in a um a situation where and I know Sharon does this but we're always talking about it and we're always talking about you know
kind of what's um you know what's what's the impact of this decision and the next decision and the decision after that. >> Did you want to respond to that Matt? It just I I agree with you wholeheartedly Ed and that messaging you know has been there and will be forthcoming even more.
I mean I think the select board every meeting we talk about ways to save money to save off and override. The department heads have come up with some great ideas so far that they've presented. It is saving money. But the problem is, you know, inflation like everything else. And when we see the the trash rubbish
contract going up 25% and employee health insurance going up, you know, 13% last year and probably another 13% this year. I mean, those are troubling things. Something we have not that much control over, but we're trying to manage. Um and you know we are doing
that by cutting expenses in other areas as well. So but I I I agree with you wholeheartedly you know the the word needs to get out even clearer that if we don't start moving in that direction um you know things will become drastic soon and I know Sharon's been talking about
this for a couple years now. So you know 100% agree with you on that Ed. So, so M Matt just one one thing too and again I get these confused just because um I don't I don't I don't think about town meeting that often but is that is that something that's planned to be you know
um you know kind of discussed in talking points you know um or is that more of a spring um uh discussion um where you know where where some of that could be shared with a broader audience and and again I think this is you know again we
you know um are there to um uh to council on on uh town meeting. But I think hearing that, you know, in in that setting in November would be uh would be helpful. I think it would be um um and and even to the point of just even
talking about what we um you know, an agenda item or two ago about uh the cost of borrowing um even these kind of first tranches tranches of of borrowing I think would be would be helpful. I mean, those are, you know, these are all kind of um, you know, sizable things that
come out of, you know, kind of one pie. And, um, you know, there's a lot that, you know, the the public um and and the tax base uh, demands. There's the levels of service that they expect. Um, but, you know, again, it it it doesn't stay uh, stagnant from a cost perspective.
Um, but I think it's would be really um, you know, um, and I think and I think that um, this gets to to what Joe was saying. you know, I I I I want to remove any appearance of, you know, that that um we're and the town is frivolous. Um
it's far from that. Um but um it doesn't um you know, so I but I think you have to yell loud um so that people people know that and they have to do it consistently in every setting. Um um and you know, I think we have a great appreciation for it, but we're we're a
committee of nine. Um, and I think that's um, you know, I I I just worry about that um, you know, kind of going forward um, because it's it is obviously a very uh, sensitive topic um, and you know, there's a lot of communities that struggle with it.
>> Yeah. No, I agree. And I mean, we will certainly talk about it a lot in April because that's when the budget is on the town meeting warrant and that there's going to be a lot of discussion, I think, about this year's budget um, for sure. But even prior to that, there are certain financial articles that we'll be previewing later in the meeting that are
on for November and you know that conversation will come up during discussion of capital and debt and whatnot. U for sure and I'll hammer it home and so will Sharon and she has been um so that Tom meeting understands the general public understands you know what
we're dealing with. So >> thanks man. Thanks Aaron. Thanks. >> Thank you Ed Mark. Uh just a couple of notes. First, just an added this is FY27, not 26 we're talking about here. Budget. Sorry. >> Yes. Did I say 26?
>> No. [Music] >> So, >> it's all good. We we know what you mean. But yes. >> So, the other thing that um I think needs to be probably presented at town meeting or you know everybody not everybody but a lot of people in the
town realize that regeneration it's been around six million. So we look at you know spending you know six you know say it's the 3% so 6.75 and if people out there are thinking the regeneration's going to be six so it's really not that much of free cash we're
going to eat into I think that needs to be presented probably by Sharon you know how that that's not going to you know it happened for number of years in a row it's been around six million I think it needs to be kind of presented that those days are over and why are they over
>> yeah regeneration's going going down. >> Yeah. But I think it's important to explain that because >> Yeah. And I think Sharon explains it well, but certainly I'm sure that'll come up and she'll explain it again about how that how that is that number is trending down.
>> Uh John, yes. Uh so my initial leaning I guess was to the 3% on this. My concern I think is if we are thinking about heading into an override next year that
going into it with a level services kind of budget might reduce the sense of urgency on the override like you can kind of tell people >> services are going to come down if this doesn't pass but they haven't seen that happening going into it. Maybe they, you know, they're saying
>> right, >> don't really believe this. And if I remember right, the last two overrides we've had are both failed the first time and then have to come back two years later. And we are in a similar situation with us. I feel like, you know, if it doesn't pass next year and another couple years down the road,
things are going to get a lot worse quick. So, and we're not saying 100% it's going to be next year. I know, you know, you heard Sharon talk about it from a a debt perspective, but I I think in the next few years for sure. Um, but I don't want to put out there now that we're doing this next year. Let's do it.
We still have to look at the numbers. A lot a lot depends on borrowing, new generation, a lot of numbers that are out of our control, but we'll keep an eye on it for sure. And, you know, I think this is it is a level services budget. Um, I I understand what you're
saying. Um, and Dr. I know Chesty isn't here tonight, but I think he'd echo the same thing to start if if there is money available there and it's to start cutting just for the sake of cutting. I would rather just say, "Hey, listen. You know, we're here and this is what could
be cut in the future." And give a little bit of a warning uh for the sake of not just the employees on the school and the town side, but the residents in general because they'll see some sort of reduction in service right away. Um, and if we could save that off by using a little bit of the money in the bank,
we're still in a decent free cash position. Although it's going down, it still leaves us with about 17 million, which is a lot better than a lot of other towns. Plus, we have 2 million in other reserves. So, it's it's just a it's a harder argument to make. The unions are watching it as well. Everybody's seeing, you know, watching
what we're doing pretty closely. So, >> and I mean, I don't want to see reduction in service either. I just I'm concerned that it could lead to more reductions if a level service budget this year could lead to more reductions in service going forward if it >> I'm looking around for other hands on
the committee. Yeah, I will say Matt, you were sort of talking there about sort of uncertainty about when an override would be, but um with with all due respect in a fight between any of us, Sharon spreadsheet spread Sharon spreadsheet wins. Um and it is uh it's
pretty grim. I mean that's one of the really striking things about this. This is what Emily let off by saying it's sort of a you put all these different numbers 2.5 3.5 in the spreadsheet. actually 3.5 I think is even sooner um somehow but uh all the numbers that
we're seriously considering don't change the fact that we fall below the 7% threshold with $3 million for generation and since we really only had 4 million this year and it's probably going to be less as belt 3 million is actually a pretty good
estimate unlike the previous years of $6 million >> agree with I'm just saying it's still unknown that nothing I don't want to put a word out that we're doing this and you know they're you know when's it going to be on the ballot all that stuff that's yet to be decided but obviously the
financial indications are leading that way but I don't want it to be like it's set in stone we're doing it next year you know 100% we're going to have to still look at a lot of different factors >> when we get to future agendas I'll be asking you about like who talks about
what when uh with that subject, but we're not there yet. >> Yep. >> Exactly. Um I I guess I will say um supporting something you're saying, Matt, about um the question of sort of cutting for cutting sake. Um like the absolute amount of free cash is quite
respectable. So, you know, we're all here trying to anticipate the behavior of the median voter in a future override. And yes, one concern is the median voter will be upset because we didn't, you know, start cutting service sooner. Um, there's also the concern
that they will look at the absolute amount of free cash and say, "Nah, you could go another year." >> So, you know, that's that might be a rock and a hard place. Here we are, >> Jeffrey. So,
I guess my thought is if if the 2.75 could give us an extra year to an override, then that would make sense, right? Since it won't, I don't see any reason to to cut positions and leave extra money in free cash for those voters that say, "Wow, we have how much?
A million dollars in free cash." I see, you know, I think we've heard from the town and the schools that they've spent some time figuring out that yeah, they could the town could get by with a little bit less and kick a little bit over to the schools and and they've, you know, spent some time agreeing on this
3%. Um, and it, you know, cutting a little bit whatever really doesn't doesn't really move the needle in terms of pushing the override off. So, I'm inclined to to agree with this 3%. the bit about kicking off. Well, actually, I'll go ahead and finish my my
comment here because I think this is a important one. So, the question that I haven't heard asked directly yet. So, because everyone's budget is based not directly but indirectly on their past year's budget because that's the staff that they have to, you know, pay for
another year. Um I am wondering what the and I'm not necessarily objecting but I'm certainly asking about the implications for the town school split uh over the long term here that if the town in particular part of how we're making this work is a permanent
reduction to the town's expenses by moving people into the storm water fund funding that way. So that is, you know, that will be money, you know, that will be a a factor that puts the town in a different position from the school next
year and every year going forward um by, you know, that much. So um I guess the question is is this is this an implicit proposal to move the town school split? Is this something that we actually have to discuss? I don't that is not one town
school split is not one of the policies that we have uh officially picked anywhere but it is a it is a wellestablished you know way of doing things that has served writing well um but that doesn't mean it shouldn't
necessarily move when it needs to >> yeah I mean in terms of the split it's been that way for a long time I think for what we're talking about helping out the schools sort of on a one-time basis to get over the hump with certain Um, I don't see that as a permanent where we readjusting the split. Um, it's
I think it's about a net of $75,000 or something like that. It's not a lot, but it helps them. I mean, if we can do that, you know, let's do it and get the service because we all we're one town. We we want to have a good strong school department and a good strong townside.
So, that's thinking on that. Um, it's not something we we took lightly. It's not something we generally do. In this case this year, we could afford it um to do it on the town side and it was something the school side asked for to avoid certain things happening on their
side. So that's but I don't see it as a permanent change. That's Sharon. Do you disagree with that or >> No, >> I don't know. Maybe she does. >> Sorry, I was muted. >> Um yeah, I I don't I don't disagree. I feel like this is a one-time thing.
Obviously we we worked together as a team with the school and you know where it was much tighter for them we were able to you know get our numbers that we could be comfortable at the 2.75 and and it made it work better for the school. So it was a compromise that we
came to for this one year only. Obviously we would bend if we needed to in future years because that's just the way we work. But I wouldn't be proposing any kind of long-term change to the split. Okay, thank you. Um,
>> uh, yes. Um, so I am in full support of the 3% increase and I wanted to make a comment that between the 2.75 and the 3% that 100k goes a long way and also it it makes me happy to see that the town is
actually moving forward with helping the school and this is one of those opportunities that we show support for each other and I think it's it's a it's a great the explanation that Matt gave and Jeff That was great. So, I'm in full support of
3%. I'm looking around for other comments or questions. All right. So, the number that I have heard the most support for in everyone's comments is the 3% number or recommendation of a use of 6.75
million in free cash in the FY27 budget. Thank you, Rick. Uh, would someone like to make a motion to that effect? I'd like to make a motion to um approve 3% increase in the operating budget or
for a total of 6.75 million as presented in the slide. >> Second. >> Thank you, Henry. Thank you, Mark. Any final discussion before we vote? All right, starting on Zoom. Uh Ed,
>> yes. Emily, >> yes. Uh, back here in the room, Jeffrey, >> yes. >> Joe, >> no. Uh, sorry. Yes. Next was going to be Andy. Andrew voted yes. John, >> yes.
>> Mark, >> yes. >> Joe Caran, yes. >> Believe that was uh we all present. Is that That's uh seven. Sorry, seven to one. That's right. >> So, thank you. That that's much appreciated. And I know it's a tough
decision for the finance committee as well, but it does go a long way for for the town of the school department. >> I appreciate that. >> All right. So, um, continuing with the, uh, agenda. Uh, so we didn't actually have a capital plan review in the
financial last week and there was a request for that. Uh, Sharon has shared updated capital plan in the, uh, packet committees received. Um Sharon, are there things there you would like to highlight for us? This, by the way, is separate from in a minute where we'll talk about the town meeting article
where we will revise the capital plan. >> Yeah, I can I I figured it would be nice to just see like how you can read my capital plan. Um, and I asked Jackie to make sure that um, the view includes my notes to the right of what I did because
it tends to be like I'll I'll highlight something and that says there's a change there and off to the right it will tell you what the change is. So, I just wanted to kind of quickly go over it with you guys just so you can see kind of if you're looking at it what I'm doing.
Let me pull up the capital plan. Well, first I'm going to start with the debt plan, I think, because that's that's something to discuss. That's the right one. Sorry. The enterprise fund. Do I have the D one open?
>> Yes, I do. Okay. Looks like page 20 in the packet. Is that the That's a debt service schedule. Is that what you're looking for? So the first thing I wanted to share with you is the debt schedule for a variety of reasons. Um
so the budget that went in for fiscal 26 at April town meeting had assumed that we would have already borrowed for the fieldhouse floor for pickle ball for all of those things. We ended up doing an internal borrowing to push those things off because it gave us more um money for
capital in fiscal 26. So what we did was we moved off those projects. And so you can see the field house floor I did a ban. So I just have interest and I moved off the principal and interest payments. And same thing with pickle ball that there was a number
here for 26. I moved it out because I'm going to borrow in January and brunch meadow phase 2. So moving those projects actually ended up um interesting. This one shows it's got debt payment here. Huh. Anyway, it was $698 total. It's
$698,000 total that I took away from the debt service by moving the debt that we had one year out. And that allowed us to do more capital in fiscal 26, which I think was really necessary given that fiscal 27 in order to make that budget work,
we're bringing it down to 4.75. So, so I'll close this and I'll show you the capital plan now. Way too many things open is what I'm finding. Can you see that? >> Yes. >> Yes.
>> So, the way that this works is up here. It's kind of just summarizing the capital by like department and stuff, but it also shows you like our revenues and and what that 5% number is. And then we take out the debt that we're the the inside the levy debt to get to the
number. So we ended up changing this number by 698,000 because I reduced the the debt payments by 698. But we did have some fairly important things to to do in fiscal 26. First of which was this
um lighting control upgrade for the running Memorial High School at 200,000. I don't know. It was definitely something that come up kind of spare the moment and it's quite expensive at 200,000. And then we had had some problems with
Parker Middle School auditorium lighting and we had originally put in there 15 uh it was 50,000 and he said it could be a lot more if we can't get this fixed and it ended up being more. So I added 180 but if you look to the right you'll see
increase by 180. So when I highlight something on the right it will highlight to you that there's a change. And if you go to the cell, you might be able to figure it out. But on the right, it will say what I did, which is increase by 180. So, we were hoping to get the problem resolved for 50,000, and it is
not going to be. It's going to have to be a full lighting upgrade at 230. Moving down for fiscal 26. What else do we have? Yes, we had um a fire truck. And the cost of that fire truck is up
$150,000. We had it at 1.150 and it came in at 1.3. So I had to increase that. the um they're looking to transition to a new ZOOL monitor system for their ALS
defibrillators and that is 310,000. [Music] In order to get all this to balance back to that 698, I did have to take $72,000. I think it was 72, maybe it was a little bit more than that. 72,000 away from um
road paving, but the road paving is getting additional funding um from chapter 90 this year. So, I thought this was a good year to do that change. So, that's what we have going on for fiscal 26 if I go for 27. And this kind of will kind of highlight what we're going to be
seeing in the town that the November time meeting um capital article. So, we'll probably can go through that very quickly after I do this. Um, so we have uh an elevator at the main uh street fire station that needs to be replaced
at 300,000. So that's an ad. In order to do that, we we actually had to push out this electrician's van 2 years. So you could see like I it was here. I moved it to here. So you see like if it's going out, you're going to see the highlight going out. If it's coming in, it'll be
the other way. So 55,000 going out. Then there was also need for this bobcat skid to be moved in. I guess it it's definitely in bad shape and needed to be moved in. And I get this information from my meetings with the department heads who work closely with these assets. Um it
has requested um a server for our building security system for the town and schools and that's an $80,000 ask that wasn't there before. I did take down their number um for our total technology projects on the town side by 5,000 to help make this balance.
I had to move out this ambulance equipment and this pickup truck 45,000 and 80,000 to get, you know, to get to that 4.75. I also have turnout gear here um increased by $50,000. So you could see
my addition there was 300,000. and it had to go up by 50. And we prioritize based on like the need for whatever the asset is. You know, if something can wait, we let it wait. Something's urgent, you know, and something's broken down, it's obviously
going to take precedence. Um, and then here we have a tractor at 100,000. It used it was at 80 and it went up by 20,000. So, these are the things we're constantly dealing with with balancing the capital plan is just in change in cost. In order to kind of get us closer
to the the um 4.75, I move this mower forward. So, one out of all of them, one comes in, but most of them went out. And here, um I had originally budgeted 160 for curb work. I had to take 40,000
out of there. And I also took out 96,000 um from the paving um to get down to the 4.75. So that's what we did for fiscal 27. In fiscal 28, sorry, I'm not trying to make you guys
dizzy. Um I'll just do the three years and I think that's mostly what you'll see at town meeting, but at least you'll be able to read kind of what we do on the capital plan a little bit better seeing how we do it. I had to move that facilities capital plan that we mentioned from 27 to 28,
that master plan. We also have an elevator at town hall that needs to be replaced at 325,000. So that went up from 252 um by 73,000. So I had to increase that. This moved up. That's not anything for
28. This was moved from 27 to 28. This was moved from 27 to 28. The pickup truck and the ambulance, as we spoke of just a few moments ago, I had to move this police unmarked vehicle out one more year.
I did bring this dump truck in one year because it's not in great shape and they think they need it sooner. The the challenge here with the capital plan generally is that inflation has increased the price of all of our capital to the point that now an asset
that has a 10 year useful life I'm lucky if I get it replaced by 15 years 12 to 15 and 15 it's 18 to 20 years which is we're off schedule for sure and is a recipe for disaster in some ways because you end up paying more for maintenance on some of these things because they're
older and these These two assets went out. The two mowers 24,000 and 12,05. And then another mower out. Another mower out one year. Going to get a lot of mowers in 29.
And then here um I in what did I do here? 120. This I'm not sure if I It doesn't show any addition. So fiscal 27 was reduced by 25,000. Fiscal 28 was reduced by 15. Sorry, I did not show the
addition there or subtraction. And then here I subtract 25,000 from the skim coding and I add 85,000 here for paving. So that's like the gist of the capital plan for the next 3 years. And and when I go
over the the article for capital, that's pretty much what you're going to see just it summarized. But I don't know that I think it's sometimes it's helpful for people to be able to read this capital plan and see what's coming because there's things beyond 28 and you can see what's happening to those
things. Um so knowing how what the highlight means and what direction it is is helpful to reading it. So I figured I'd show that. Does anybody have any questions on that? I'm looking around for questions. Go ahead, Joe.
>> Um, just just quickly on the um sidewalk curb, pedestrian safety, and skim coding, are those are those specific to like one area? >> Because I think it's helpful like a lot of things are labeled, but if there's something like that, should I assume that that's just more general?
>> If it's not specifically labeled that it's a certain street, it's not. It's whatever they can get done with the funding that I put there and they prioritize based on what's in the worst shape. >> Okay. Thanks. >> On the subject of the sidewalk safety,
so I'll note that the um uh this is actually really the warrant report, but it's also not clear from that what the FY28 changes. I feel like it's the same thing as a spreadsheet where it's not clear what changed. Um, so if you fix that in the spreadsheet, you may also want to fix that in the law report uh
for the U FY28 part of article 4. Sorry, article three. >> What line is it? >> This is the FY28 sidewalk curb pedestrian safety change. >> There was definitely something that I mentioned to Jackie that I when I was looking at it yesterday that I changed
after you guys received your packet. Let's see if it has it. It was the sidewalk you said. >> Uh, yes. because I went to look at it in the I went to look at it in the warrant report when you um were talking about you know when you were trying to figure out what had been the change in the spreadsheet. I was wondering if the
changes in the war report and it's not. >> It's not. No. >> Yeah. I mean the other thing I do is I look back. So this basically all that we're doing for the article for capital is we're we're highlighting the changes that we made since the last time the capital plan was in the warrant book. So
April would have been the last time they've seen it. So, I make sure that I bounce back to the difference between the numbers and cap what the numbers were for each of the years um capitalized to make sure that I've highlighted everything. But sometimes we can miss things and sometimes it's like
I'll highlight it, but I'll forget to put a comment over to the right. But I found a couple that didn't have a comment to the right um that probably went out in your packet um because I caught them after after it went out. But
generally, I think seeing these comments helps you understand what I'm doing. And I think because it's such a large spreadsheet, we tend to cut that off. But I think it's helpful to see. >> No, it's enormously helpful. I have I have done the exercise of of looking at
the capital plan from one year to the next to try to understand differences. It's no fun. So, thank you very much for including those comments. Other comments or questions about the capital plan?
Henry, so um on the public safety, there's a lot of um there's a lot of public safety equipments and I know there's grants out there for some of these, but uh this is more of actually a followup from for Matt. I know in the past we've gotten some ear marks. Can
for any of these items that we have in here like is there any appetite for it or with the federal funding in cut? >> You're saying in the past we've gotten grants. Is there any? >> Yeah. Grants or ear mark from >> Oh, sure. Yeah. Yeah. We're always, believe me, I'm a big believer in grants
and and even more so um getting eararks. Um, and we're always asking uh for not just federal, but there's a lot of state money available and the the reading delegation reaches out to us every year on the earmarks saying, you know, is there any specific would you want? And
usually we get something they have to spread it out through their district or whatnot. Um, it's a little on the federal side, it's a little more, you know, we have to sort of wait and see. But earmarks um on the federal side too, we the congressman's office and the
senator's office would reach out. Um and we don't always get it because that we're competing with the whole state there, but certainly something that's still a big priority because grants and earmarks, you know, don't affect our bottom line operating budget. So, um, so
yeah, for sure we keep eye and we do and and know some of our grants are we we just got one that we've um I think the president is going out soon, but it's only for about eight or $9,000 on on the public safety side, but every little bit helps, you know, in my book. So
something like that is money that the taxpayers in writing don't have to specifically spend that comes from a different source. So that's for sure. And just a quick question. I don't know if any anybody know what's a turnout gear and it says every five years. I see
it here. 350k for every five years. What is that turn out gear? >> Turnout gear. >> Yeah. >> Um we have the fire chief answer that I kind of know what it is. >> Come on up. >> Every five years.
>> Sorry. You didn't see me on. >> So turn gear. That's the fire structural gear that you see them wearing when there's a fire. So they have gear to protect them from the thermal barriers and hazards and and by an FDA that it's only good for 10 years and after 10
years you have to destroy it. So that's why we have every five years we replace it because um when one gear set of gear gets dirty has to be washed and cleaned uh for cancer prevention and have to have a second set of gear while that's
occurring in case there's a second event. So what we do we buy it every five years they wear wear the primary set for five years and then that rotates in the backup position to get us out the next five years for a maximum of 10 years.
>> You're welcome. Any [Music] other comments or questions from the committee about the capital plan? No, I'm not seeing any. I'm looking double checking Zoom. All right. Uh in that case, let's move on to uh discuss
and vote on financial articles in the subsequent town meeting warrant. Um Matt, you can drive here. >> Yeah, sure. Yeah. and and we do have a few some of them are repetitive that we have every year. Um the first one article three is about the capital
improvement budget. So I mean you can see in the article it's pretty much what Sharon just outlined uh in her presentation. Uh everything's listed there. Um and I do you vote on these individually or at the end will you take a >> we vote on them individually. I mean we can I think it's up to us whether we
take the votes as you present or at the end. >> Okay. Um, >> so I mean we've just talked about capital for a while. So if you wanted to vote on this one now or if you want to hold them off. >> I have about um maybe six that need
votes. So >> I was going to say let's go as we go. Yeah. I was say I don't I don't see a strong opinion. Sometimes we'll do assignment of articles at the end afterwards, but we could also do that as we go along. Um, and I think voting is only makes sense so that people remember, you know, what was which one
was article 4? Oh, that's the budget. So, in that case, uh, doesn't sound like there's anything else to be said about article three of the capital plan changes besides we've already heard just quite a bit. >> Did you want me to go over with you? I just kind of >> just anyone No, I don't think I'm seeing
head shaking. If someone would like to hear more on Zoom, please raise your hand before we move on. >> Oh, Joe, >> it's not a question, but >> on your mic, but >> yeah, your mic. There you go. Turn on. >> The way these are listed, like is it
possible maybe just list all the positives and then the negatives? Yeah. So, you can see what was like added and then what was removed? like as it goes are going back and forth. It may be just the way my little mind >> I'm just doing it in order of how it shows on my capital plan so I don't miss
anything. So that's the reason it comes in the it comes it's in the order it is on the actual capital plan. >> Okay. Okay. Maybe just say that maybe at the beginning when it's introduced and Okay. Got it.
Any other comments or questions from the committee on article three? >> Can I get a motion with respect to article three? >> Emily here. >> Move to recommend the contents of article 3 to town meeting as presented.
>> Second. >> Thank you, Emily. Thank you, Jeffrey. Emily's doing this from, you know, like a the parking lot outside of a swim meet or something. I think I heard it's it's I appreciate the heroics to to participate. Thank you. All right. Uh let's um if there no more comments,
let's take a vote. Um Ed, >> yes. >> Emily, >> yes. >> Jeffrey, >> yes. >> Joe, >> yes. >> Henry, >> yes. >> John, >> yes. >> Mark, >> yes. >> And Joe Carin, yes. >> Thank you. So, that was 8 Z. And do you
vote on who presented who presents the report at town meeting after? >> Well, yeah, we can we can do we can do assignments. We can ask for volunteers. Let's go through the um maybe we'll get to the votes and then we'll just want to make sure. I don't think I don't think any of the people have uh looking at these. You know, sometimes we have ones
where it's really like near and dear to the interests of a particular committee member. I suspect this one will just be taking turns. >> Okay. So, article 4 is the the typical article to amend the um FY26 budget. Um, every year there are small amendments
made to the budget um based on need and things we didn't perceive back in April. So, you you have that laid out there. Sharon could explain um further detail if needed. Um but these are, you know, fairly straightforward changes and
there's not a lot of them. Um Sharon, do you want to add anything to that article 4 discussion? >> Yeah, I can add a little bit. Um the health insurance we had at 13 and a half, I think in previous 13.52 or something, but if you recall at the end of the year, I got more um fin reserves
to get the actuals to be in line with what they were going to be. And so that 305 helps us get to 13.5% higher than what the actual for fiscal 25 was. The other issue is is that um as of January
1st, our Medex, which is our supplemental Medicare plan, goes up 14%. So, I need a little buffer there. So, that's why I added the 305. I don't even know if it's going to be enough. Um because I don't know what enrollment looks like for that plan right now. Um
but so I I added because I knew that we were going to be short of that 13.5% and I added a little buffer for that. there may be a need to ask again um in April if if we're running short. We did have workers comp come in lower than um we had projected. So I used 90,000 of that
um a net of 215. We talked about the capital and debt at 698 just a switch of where the funding is being um allocated from debt to capital. the Northeast Regional Metro Vocational School um their budget went up 10.18%
um for fiscal 26 and we've seen an increase in enrollment over the last couple years from like 31 to 51 students going to that school. So, we needed an additional 240,000 um to cover um the the tuition for the
kids going there and the capital charge for the new school because it's all done per rat how many students you have going there as a percentage of the total. So, we got a higher than we got that number just before April town meeting. So, it was too late for me to change anything.
Um and then we do have um the reimbursement back to FINCOM that we spoke of last week, which is the 50,000 for the um radio amplification for the high school. The H health rodent control um that 50,000 was actually paid last
year by ARPA, but there are no more ARPA funds. And so we are looking to add that to our regular budget um to as a baseline the 50,000 so that we can budget for it each year for rodent control. The end net
number is um 555 um and we're using 355 from free cash and we had additional state aid of $200,000 um coming in above projections. So that's how we're funding this article.
Okay. Um, okay. I see Mark, I see. Go ahead, Mark. >> Uh, just on that the second line, should that say C article 3, >> not article 4? >> This is article four. >> Oh, I changed that today. But yeah, I
caught that this morning. >> So, that's this was already sent out to you before I noticed that. But yeah, it's article three and I've changed it for for the warrant book. >> Sorry about that. articles flip around. So,
>> I had the same question, but then also why is K91 there since there's no increase or decrease? >> I deleted that as well. I don't know. I just missed it. [Music] >> Good questions.
Other questions about article 4? All right, I think it's time for a motion. >> Motion to recommend the contents of article 4 to town meeting as presented. >> Yes. >> Thank you, uh, Emily. Thank you, Jeffrey. Um,
any final comments before we vote? All right. Uh, starting on Zoom. Ed, >> yep. >> Emily, >> yes. >> Jeffrey, >> yes. >> Joe, >> yes. Henry, >> yes. >> John, >> yes. >> Mark,
>> yes. >> And Joe Cahan, yes. 8 Z. >> Okay. Thank you. So, the next article that we require a vote on is article five. And this is transfer of funds from closed out capital projects. So, you can
see a list of capital projects that we've had in the past. Parker, roof, police station. And in those accounts, there's always a little bit of money left over for different reasons. Um we would like to sort of clean that up a little bit and use those funds on our
two major projects coming up, senior center project and the Kllum school project. So Sharon's gone through and um and reallocated as to reallocate those funds to the specific projects based on the the project need. Uh and some of
these I mean the library goes back to 2013. Some of these have been hanging around for quite a while. So I think it's a good cleanup. There's a reason, Sharon, I know there's a reason why you keep you've kept balances in this uh these accounts. Could you explain that if you don't mind?
>> So, when it comes to building improvements like the library renovation, you can only transfer the remainder to a project that has similar borrowing terms or greater. So, that has any building improvement would have like a 20 30year borrowing. And so, most of our smaller projects wouldn't have
qualified. So, had to wait. everything else is, you know, we've been moving Parker Roof around for I mean that's that's the gift that keeps on giving Parker roof. Um, but we whenever we have an opportunity, we we try and clean these up, but the the library one has
sat out there for a while because we couldn't transfer it to anything. None of the projects we have been doing qualified. I will also say that it's a senior setup project. I updated it today to >> Emily has her hand up. >> Oh, um, thank you, Emily.
>> Just just wanted to be clear. All of those will be now null, right? Like there's nothing that will still have any balance remaining. >> Not unless it has something out there. I mean, I think they're all going to be zero. I mean, Parker Roof, I was surprised it was something that they had an encumbrance out there. They hadn't
closed. So, I thought I'd already brought it back to zero and and they're like, "Oh, we don't need this PO. It's project's all done. We'll close the PO and I'll I'll get rid of the money." >> Perfect. Awesome. Thanks, Sharon. >> Yeah, projects that are obviously still
ongoing, those will end up with some little bit left over, but we don't know what that'll be yet. [Music] And it also too it reduces by transferring this it reduces the amount we have to borrow. Not by much but you know every little dollar counts I think.
>> Yep. >> Any other questions about article five? >> Just a little curious as to um why the different purposes were set. Like I would have chosen if I had Parker Roof to allocate to either us this recal or
to kill them. I said, "Oh, Parker Roof was a school project. I'll assign that to the Kllum rolling project." That you did not do it that way. Is that because of the length of term or is that >> I was trying to make it as equal as possible. I was trying to split it evenly and I didn't want to have to split between, okay, I'll give, you
know, 20 22,000 of the Parker roof to this, you know, I just was trying to find a way that the numbers would come out as close to 5050 as they as I could. >> So, go ahead, Mark. >> Uh, the only thing is I think there'd be
more savings, Sharon, if it all got applied to the school because that's a longer term. That is >> I would be open to that if that's what the if the board would you know if income would prefer I change it I would be open to that. I just figured um that
you know both projects would want something going towards it but >> that is entirely up to you guys. If you would like me to change it I'd be willing to do so. >> We we the taxpayers have already you know signed the uh the check. Both these projects are going to be funded entirely
and it's just a question of of um how much ends up coming back to our bills. So yeah, know I um I'm assuming that what the the assumption behind Mark's statement is that uh the interest rate on a longer borrowing will be slightly higher. Is that correct?
>> It very Yeah, very likely would be a little bit. >> I mean that's how you know us normal people borrowing things works. So >> I just didn't want to come across as favoring either project. So I was trying to split the money or >> the finance committee. We favor saving money.
So, yeah. I mean, do we um do we need to take a a vote on that or is there a um >> I think we would move to amend the the article to select a new purpose for the Kellum School building for all of the original project funding.
>> Well, it's not the article itself. I that chart is in the background, right? >> Well, so the table is in the article. It's not in the background. So, it is actually >> it is. Yeah, I think I'd have to change the table >> and I would change it. I don't have a
problem with it. It is a very valid point, but I didn't want to come across as if I was favoring one project over the other, which is why I did what I did. >> Go ahead, Andre. >> So, um, would would this table look um kind of strange when it goes to a town
meeting that you only you'll only have listed just a Kum School building project in here? and nothing to the CS center. It will just >> I'm just saying like it it could look kind of your favor in the know one
project from the other one. I definitely see where Sharon is coming from this. I would question this if it was only listed um Kilum school and nothing from and just one line. >> I feel Yeah, >> I think I think if you just say that we'll save more in interest payments by
doing it this way. >> Yeah. I mean at at the at the risk of of you know discuss you know micromanaging the details of the presentation I don't think you need a new purposes column I think you can just say we would like to reallocate all of these to the long the
longest you know borrowing that you're about to undertake which is the kale school building project and then it's not um yeah it's it's clear you know why we're doing it it's because that's the longest project will have the highest interest
I'm I'm not sure if it um it requires a column that says the purpose >> exactly >> identified in the article, but that's something that >> you don't you don't need you don't need the fourth column in the table to say kill him, kill him, kill him, kill them. It's you just put that in the text, I
would assume. And >> the whole background would have to change because I I tell you how much is going to kill them and how much is going to the center for active living. So, I'd have to just rewrite the background and I'm perfectly willing to do that if the if the board chooses to kill him to be
the recipient of all of it. >> They could save even a little money on chamber statement. Yeah, it makes sense. [Music] >> Uh Matt, >> I just want to be able to double check because this was in the article that was actually closed by the seme. So, there
are changes, you know, usually minor changes you can make within the four corners before it goes to town meeting. I just want I I'd want to double check that before we start making any sort of drastic changes to the article itself.
>> You can vote on what you what you want and I can certainly double check that. I just wanted to make sure that was clear. So >> that's a good point. I believe it's a question for the moderator whether the motion can be amended to uh redirect
purposes to only one of the two. I'm my guess. I am not a town meeting moderator is that allocating money to either of the two things included in the article is within the four corners of the article. But um I think fire committee would probably be
prudent to take a vote on the article as written and the article as potentially amended on the assumption that it can be amended in that way. >> Ed Ross has his hand up. >> Oh, yes. >> Thanks Sharon and thanks Joe. Um, I was
just going to say the same thing um about this uh the select board uh just because um of looking at it from that perspective and then um I do think that um uh your suggestion Joe is the right one where we where we do um um one of each
um we just in case you know it gets decided upon we have we have something that we've done on either Jeffrey. >> So then would we would we vote against the article as presented and vote for the article with all of it
going to kill him because in fact all of us do not support it as written. We would rather have it all go to Kellum so we can get up and make that presentation. Right. And that clearly says to tell me we did not like this this allocation. We voted against it.
Please don't vote for it as as it stands now. I mean the the the counterpoint there is if the town moderator says it cannot be changed for how it stands now because this part is in the article and not in the background or the motion. Um
I mean we can amend the article on the floor at town media, right? You don't you don't technically one does not amend articles. one amends motions and one can only amend a motion in a way that is within the four corners of the article. So it's actually
[Music] get my copy. >> I don't like the way it is. I'm going to vote against that because I don't want this to to vote. >> Yeah, I mean this could be town meeting obviously say if we can't amend it then town meeting can decide that we're going to we're going to reallocate it and if
we have to reallocate it as as shown then >> Joe can you explain that again? We can't someone on the floor can't change the article. article is the article. It's in the warrant. It's closed. One does not amend the article. Now, there is a
motion under each article, a main motion of each article which is more or less identical to the article in most cases, but you you may recall sometimes we get a print out of the motions for town meeting. Um, and sometimes those include
additional details. often one does not um not to you know disparage the uh authors of this article as written but I've certainly seen town meeting articles before where the numbers are conspicuously omitted from the article so that they can be included in the
motion and then amended freely. So, but to Jeffrey's point can't I mean at some point in time as it someone's someone can actually change the you know there there I I guess I'm not
understanding why why we why it if it's can't be done now why it can't be done on the floor. >> The the select board has voted to close the warrant. Correct. >> Yeah. That's already happened. So the warrant and the text in it has been the
cycle board could reopen the warrant and modify it and close it again. But otherwise the text written is the text approved by the site board and that will be given to town meeting. >> Um Mark, >> wouldn't we make a recommendation you know that we approve the article with
one change to it? >> Yeah, because we're we're yeah >> we're making a recommendation. We're not. >> So, >> yeah, go ahead and just run your mic. >> Um, we can
when we vote for the articles, we're just giving our support for the article in town meeting. So, at the same time at the town meeting, you can actually say the finance committee voted um uh reviewed this article and has an
adjustment to it or has a proposal or an update and that update will be what we just mentioned and then when they make the motion to to approve article five they would say as as amended.
>> So we actually have a select board chair on Zoom with a hand raised. So uh Chris, please go ahead. >> Thanks Joe. Um Matt, the agenda is not set for next Tuesday anyway. Can't we just reopen this and and do it?
Um, yeah. I think we I didn't I don't think we posted it today. Maybe we we still could do it before Tuesday if if the board was willing to change it. >> Yeah. >> If they vote on this however which way, then we can add it to the agenda uh
tomorrow and and square that away to avoid all of this. >> Okay. As long as the select board ultimately agrees to change it in the way of some >> comments. Yep. Okay. Yeah, we can we can do that. We can add it as an agenda item
for next Tuesday, I think. Let's see. Let's go. >> It's next Tuesday. >> Yeah. >> Yeah, you're fine. You put post for that on Thursday, which is tomorrow. >> All right. I I'll check We'll check with um town council, too, uh to see that that the warrant can be reopened.
>> You might also be able to check as to whether it's necessary. Um if it's not necessary, then it might >> Yeah, >> you might not bother. Um if if it's if it's any trouble. >> Sorry about that, guys. >> No,
it's all good. Um >> J, you're just treating all your projects like your children. You don't want to give anyone you don't play any favorites. We get it. >> Go ahead. >> Just a quick comment. Um what I when I make the quick comments
>> what I thought about the kalum school is we will get some reimbursement for all of the expenses there. So I mean I don't know how this impacts there but it's just a small amount compared to the big how much money it's there
>> and then it's yeah I mean it's not it's not going to make a difference but my only concern is the visuals of it and if somebody at meeting says oh why you giving all money to school you know you know this >> I I am I am profoundly comfortable with
the visuals of paying down the highest interest debt first. >> Turn to turn. >> Yes. Yeah. >> All right. So, yes, I think to Andre's earlier comment about like recommendation. I think the recommendation, we can vote on a
recommendation, whatever, whatever wording we like. Um, it's going to probably force somebody to retype something in the warrant. Sorry. But um I think we can uh you know make a recommendation to the effect of uh you know finance committee voted to
recommend the substance of article five with the uh recommended uh amendment to allocate uh these fund all of these funds to the kill school building project and I see your hand.
>> Uh just a thanks Joe. Uh just a quick followup Sharon. So, uh given that these were all, you know, kind of previous projects, um so what happens um um are we we're not inadvertently tying
our hands by saying we're playing this all to Kum and if Kllum comes under budget then we have you know so then we've now got a a number for uh you know for Kllum um but since we're borrowing it for longer that gives us more time.
Am I am I making that right assumption there? >> Yeah. And plus we would spend cash on hand and this money is cash on him before borrowing. So we would go through cash that we had before we borrow. So I think it would make perfect sense to go to killum. I just I would you know when
I was splitting the you know the the the savings from the debt falling off. Somebody said to me you gave it all to Killum. why did you you know like so I guess that that was in the back of my mind is you know splitting the money as equally as possible. Um, but more than
anything, I think it, you know, it would make most sense for it to go to Kllum because Kilum is going to be a 20-year borrowing and recal is going to be a 15-year borrowing. The higher interest rate will likely be on Kllum. And so and so and just just to kind of
follow up just because I I don't know if I if I heard it right or I said it right, but so if if at the end of kilum and we've already done kind of borrowing, but if it comes in under >> what we borrow is because that's
essentially the situations we have with these eight. Correct. >> So we would borrow less in the end. So, as we get closer to the end of the project and we know what it's really going to cost, you know, you know, the first trunch, but we usually do it in more than one tunch and I think we'll at least do two. So, we'll have a better
idea of where we're headed pricewise and if we're under or over, you know, budget and so we would borrow less. So, this money is actually been borrowed and was left over. Um, and that could happen with either one of these projects just because of their mere size. It's hard to
get a project down to zero, right? That's >> we're going to try and minimize the amount that we borrow and and use all of our cash resources before we borrow that second trige. So I would say I would say that hopefully hopefully we can try and get that number and minimize the debt
the best we can and then obviously there's you always have contingency built into these projects. So it's really very hard to get down to zero especially a large project like Kim or Recap. So, it's very likely that there will be money that will have to be transferred someplace else, but we want to minimize how much money that's going
to be there. But and and then but at the end of the day I mean again obviously the saving of the interest is the right thing but also if we're doing it on the longer termed project it also gives us more if we do have an allocation it gives us more time
to be able to or does or does that necessarily not necessarily >> it it wouldn't it wouldn't necessarily like we have to look for a project that qualifies for the same term of borrowing that we borrowed from. So like this Kllumin project would qualify for a
30-year borrowing. We'd have to be able to transfer it to another project like that like a another long term. >> Yes. It's got to have the right term. So it could sit there for you know we spent with the library we spent according to
our borrowing terms and we still had leftover and they know that's going to happen. Um but it had to sit there because we didn't have the right project to actually move it to. >> Gotcha. We didn't do any building projects in the last 10 years. So, >> no, that's that's helpful. Yeah. I mean,
so it it does it if if we're if we end up, you know, kind of playing this out, if we are off and there is money left over, we're we're left with fewer options because we need a project that we were going to borrow for 30 years
versus something that was for recal which is, >> you know, 15, you know, or you or whatever that, you know, something with a smaller term. It just gives us less options. But again, I think the savings of interest is a is a is a better um
is the better reason to do it versus not. >> Agreed. >> Thanks. Sorry, Joe. And I'm not sure what you're apologizing for. >> So, could we have a motion to approve article five with the change that the
new purpose is Kellum School? >> Um, yes. recommends substance article five with a suggested amendment to re reallocate all funds to the kilum school building project. >> So moved. >> Second. Thank you, Ed. Thank you,
Jeffrey. >> Too slow. >> Sorry, we we kind of we kind of caught you off guard with me reading the motion and text and then you just needed to move in there and probably never, you know, didn't come off mute or didn't have to come off mute. >> All right, that's it. Other comments or
before we vote on discussion? All right, let's go. Ed, >> yes. >> Emily, >> yep. >> Jeffrey, >> yes. >> Joe, >> yes. >> Henry, >> yes. >> John, >> yes. >> Mark, >> yes.
>> Joe Carneahan, yes. Zero. >> Okay. Thank you. And I did just send an email to the town moderator and town council checking on the best. So, I'll report it back so you so you know. >> Okay. The next one is article six. Um, that's another standard article that we
do this time of year. Approve prior year bills. Um, there are two bills that, you know, we sort of discovered late and we would like commission to pay. They're listed in the background. One is to the city of Wuburn. Um, and the other is a very small amount um to the next step
volunteers uh for work on the terra cabin. So, the first one is for 3,245. The second one is for $246.3. Um, and happy to answer any questions on that before you vote.
Any questions about article six? >> In that case, uh, looking at Emily's picture on Zoom. Can I get a motion? Motion to recommend the contents of article six to town meeting as presented. >> Second. >> Thank you, Emily. And thank you, Ed. Um,
okay. U any other comments vote. Let's vote. Ed, >> yes. >> Emily, >> yes. >> Jeffrey, >> yes. >> Joe, >> yes. >> Henry, >> yes. >> John, >> yes. >> Mark, >> yes. >> And Joe Bernan, yes.
Thank you. >> The next one is article 7 and this is a local adoption of chapter 60 section 3F and that would allow us to create essentially it's called a a municipal veterans assistance fund. And what it
does, it allows um taxpayers to either on their tax bill and their excise bill to essentially check a box and donate um extra money uh to renting veterans. And that would go that a separate account is
created and that would be managed by our veterans agent, Will Vier. Um and obviously there'd be a lot of financial controls over it, but he would put together an application process. Um, and the way he explained it to me is that even though veterans, most of them get
some veterans benefit or assistance. Sometimes they find themselves month-to-month in a in a difficult place where they can't meet a mortgage payment or they'll need groceries. And that he doesn't really currently have any discretion to help them in that way. Once in a while, we'll get some donated
gift cards from a local business and he'll throw out those if he can, but that's for, you know, $25 or whatever. So, um it wouldn't be a large amount that he'd be giving out giving out and I think it would be more of just a one-time basis to help the veterans through. Um but he tells me that there's
a great need for this. He will be there at town meeting to explain further, you know, the situation for veterans. But I think it's a good idea. It's something that we're allowed to do if we have this local adoption. It helps out veterans. And most importantly too, people should understand it's not an extra tax
assessment or you know something people have to pay. If they want to make essentially a donation, it's there for them to do. If not, pay the rest of the tax and that's fine, too. So, >> all right. Um I see Ed's hand is up.
>> Uh thanks Joe. Uh, hey Matt, just on that one, is that is um like so is how would how do people like I know it's going to be a line item on bills, but is there is there going to be any explanation in the tax bills that what what what that is?
>> Yeah, I I think probably would come up with some language to put it in the tax bill saying, you know, what exactly it is. I mean, there'd be a line that says donate to the municipal veterans assistance fund and with maybe a box and an amount. Um, but especially where it's
new, if it does pass town meeting, we'll probably put together something um more to to go in the tax bill and probably put on online as well in social media letting people know that this fund is is new and it's there and it's certainly not required, but if you would like to
help out our local veterans, here's a way to do it and keep it all local. So, >> Mark, u Matt, what's what's the goal for the size of the fund? Um I I think you know from what Will tells me there's there's a great need
and there's there's he'll have the exact number of veterans and it all veterans would qualify for it. It's not specifically disabled veterans or combat veterans. Um so I mean I think depend depending on what people want to give. I don't see it going up to tens of
thousands of dollars. You know I think probably um at least a few thousand dollars um to get to get it going. And once people know about it, maybe a little bit more um and there'll be there'll be some qualifications in a whole application form that will devise
you know based on what he feels the need is and what what the qualification should be but um it it could be anything but I'm not thinking it's going to be a whole lot of money at least at first and hopefully it will grow over time and chair will segregate that uh and and
keep track of that as well. >> Mr. chairman. >> Oh, uh, yes, Jane. Jane, >> if you don't mind. Um, just wanted to add a little color to this question. Um, the need is that where will can spend money on the veterans accounts are
highly regimented. So, there's there's a number of them. Um, they're allocated in the budget, but they're very specific needs, and there are other ancillary needs that um that veterans and their surviving spouses have that don't fall neatly into any of those other buckets. And so that's what he's trying to
address. It's um that's why it's in the general laws to adopt because this is a fairly common issue in municipalities and it gives Will a little bit more um of a tool set to work with to help our veterans and surviving spouses. Andre, just out of curiosity, what's the
selection criteria for him or is that a specific question like is it like um scoreboard on how how how will we know who to give these funds to? >> Well, he know I mean he does have a list of all the veterans and he meets with a lot of veterans uh regularly and you
know I think if a veteran came to see him and saying hey listen I'm having a bad month for whatever reason I can't cover it. Will would say, "Okay, here's an application. Here's how I could help you. You've got to fill out this form." Will review it and then make an allocation based on that. Um, that's how
I understand it working. And again, Will will be there at town meeting to explain a little bit more on it. But that's that's how he explained it to me at least. So, >> Joe, um, just logistically like how's the money actually get collected? Like you check the box when you pay.
>> Yeah. for the extra amount and that comes in with your tax and I think it's it's even more important on the excise tax because people generally pay that directly where their property tax sometimes a mortgage company pays and they almost never see the bill. Um but I
maybe Sharon could add to this but I assume that extra money comes in we make note of it segregated into the separate account. Um we I checked with town council we don't need a separate article setting up a separate account. this does it by the adoption of the state statute. Um, and they and it then it's treated
like a normal account from there on >> because it definitely seems like it would be more work. I'm not >> it would be it certainly would be a little bit more work. Um, but if there's a need out there and we can address it and it's not going to be a big um
increase for taxpayers, if it helps reading people, we're happy to do a little extra work to get that done. So, So I can add a little bit to that. And so if for like for instance, let's say somebody has a $100 motor vehicle excise
and they choose to give $25, they're going to have one check, let's say for $125 and we would allocate the $100 to the motor vehicle bill and then we'd allocate the 25 to this municipal fund. So that would be how it would be tracked. We'd have like a a charge code
for them to use that they could put whatever the donation is and it would keep track of it that way. John, >> uh, Matt, are these donations taxed deductible for residents? >> That's a good question. You'd want to double check on that. I think they may
be because I'm, you know, we're essentially nonprofit. Um, I'd have to check with the IRS. >> Does the town have to mail out receipts at tax time to people that do do donate? if they um as well to see if they are
taxdeductible that might be something that we do often and we can see what other towns do on it as well. I'd have to double check on that. >> I think the IRS there is a threshold on the amount how much I believe used to be
u either 400 or 250. Yeah, maybe 250. >> A threshold for what exactly? >> For sending a receipt. >> Uh yes. Okay. Yes. Sorry. Sorry. The requirement you're talking about the IRS requirement for a receipt. I mean certainly I get a
you know every every time I pay max stacks I I print the PDF of that receipt so that I don't have to you know if something gets misplaced I don't have to pay it twice. Um I assume it would appear there if nowhere else. But um actually while we're on the subject of sort of the administr how this would
actually be implemented. Um, is this supported by the invoice cloud software that we for those of us who pay our bills online? >> Sharon, do you know that answer >> invoice cloud? >> I'm sorry, I didn't hear what you said. >> The question is whether uh this is
supported by the invoice cloud software that we use for online bill payments and we use that both tax and property tax. >> I would think we would be able to support it through invoice cloud. >> Cool. Oh, okay. We have a Andre says yes.
All right. Other comments or questions on article 7? I don't see any on Zoom either. All right. Then can I get a motion, please? >> Motion to recommend the contents of article 7 to town meeting as presented.
>> Second. >> Thank you, Emily. Thank you, Ed. Our remote compatriots are doing all the work. All right. Um, last chance for comments before we vote. Let's go. Ed, >> yes. >> Emily, >> yes. >> Jeffrey,
>> yes. >> Joe, >> yes. >> Henry, >> yes. >> John, >> yes. >> Mark, >> yes. >> Yes. Eat zero. Okay. The the Thank you. The next article, the last one you'd have to vote on unless you feel like voting on snow
shuffling bylaw, which you probably don't, um, is article 10, and that's a request from the town forest committee, and they're asking for $50,000, um, to remove invasive species in the town forest. Um, this is something we
have funded in the past. We did go through a process where we removed a lot of dying pine trees there in the town forest and that's left space for a lot of these invasive species to grow which is harmful to the forest. Um so they would like to continue with with um
trying to monitor that and alleviate the invasives in the town forest. Um this is onethird of the request that they got approved for last year. It's an on seems to be an ongoing issue. the town forest, like I said, it's a request from them. They put it on the warrant, the OB town
meeting to explain to town meeting, you know, more fully about the need. Um, but where it came from the committee, we added it to the warrant as required. Um, $50,000. I mean, I'm sure your last word is going to come from. I think really the only
funding source would be free cash at this point. They didn't identify any other funding source for it. Um, so it will be a reduction in free cash of $50,000 if town decides to fund it. So, uh, do we have comments or questions on
that? I see we do have I know this is probably implemented through the DBW. We do have Chris Cole here. Um, >> uh, entry. Uh so what happens if the 50k is not enough?
>> Um if the if they don't get the uh the 50,000 um the invasive is just going to keep growing and you know eventually it's going to get ahead if it not isn't already. So you know they're just trying to keep it keep ahead of this best they can.
Oh, that's fine. My question was, do you think that 50k is do they get a quote or something? How do they come up with 50k? >> Um, I don't know specifically. I think it's just the ask they're doing, you know, just to cover a certain portion, you
know, a certain area. >> I think it's based on what they've done prior, too. They said it's about a third of what they done prior. They do have, you know, people that do they don't do this themselves, obviously, though, people that look at this and and and experts in this area that recommend and
so they could probably do with more um but they thought that was a reasonable they they understand the financial situation we're in. They don't want to overburden the town and they thought that was a reasonable request for town meeting. So, >> so coincidentally, I was at a town
forest committee meeting in early September when this was discussed. I was actually there to talk to them about the CPA, not about Pincom stuff, but they wanted to ask me a lot of questions because they said, "Oh, you're on pincom." Um, so I got actually got briefed on this then. Um, I they did in
fact have a quote for the amount per acre. Um, they had a plan in terms of the, you know, areas to target. Um, you know, it is I think, you know, my question and my question is not one that would lead me to voting against this article. A question that makes me just
sort of worried for the future is, you know, how we get this funded sustainably. Like it's great that we're allocating much less to free cash than before, but obviously the ideal amount to be allocated of free cash is zero. Um, at the same time, it's the worst
year in quite a while to ask to put item lines into the operating budget. Um, uh, I'm sure you're looking to cut everywhere you possibly can. So, um, and perhaps this is not really again a question for this article, but it's just a concern that's on my mind is figuring
out how we can sustain this, you know, indefinitely because it is people will always be composting their invasive plants that pull out of their yard and then that stuff will get tracked into the rest of the town forest and grow. Um, and that is always going to be a that's always going to be something that
the town forest needs to deal with. We have to deal with it as stewards of the forest, Mark. So why why isn't this covered under like public works budget or because it sound like it's ongoing? Like it is ongoing. I mean my budget
right now just couldn't um you know cover something like that as it is. You know I have a very limited budget as it is for my own expenses and so 50 trying to find 50,000 is just not possible
out of my own budget right now. So this is sort of 50 this year, how much next year, how much the year? >> And then you spend 50 and then the next year if you don't spend, does the invasive come where we just spent this
money on? It's >> I don't know. So I'm on the I'm on the edge of my expertise here, but my understanding of it is that with you know almost all invasive species management um you know money spent sooner always saves you money later
because it's even if you did like hypothetically if we were to spend $50,000 either this year or next year. Uh the situation would be better two years from now if we spent it this year um to get you know more things sooner. Um, yes, they would it would get worse
when it wasn't being managed, but um that this is something it's a problem that you know compounds like interest and you want to pay it down sooner if you can. >> The question how much how many years we get out you you need to be a lot closer
to the how many years we get out of the 50k. That becomes the actual question. That would be nice to know. But >> last year was 150k, right? >> So yeah, >> I believe the the intent here is would
be for this money to be spent in the next year. So it's not intent to fund multiple years. Yeah. >> Joe, go ahead. >> And again, I'm not an expert on this either, but like the last sentence there, I think this is dealing more with the application of herbicides by
licensed out potatoes because I know on Saturday anyone that's interested trail is you know ripping out buckhorn you know so anyone wants to spend Saturday up there in the woods you know so they're I'm definitely support they're trying to mitigate you know the amount
that they're going to come back and ask for each year but I I think I'm just going back to Bill Svin's presentation you know town meeting I'm seeing is they're trying to hopefully keep the evasive species out so
you know, non-invasive species can >> Yes. >> to get started. Hopefully, >> that is another way in which this does get better, deal with it sooner where the more time we give to the native plants, the less opportunity there is
for invasives in future years. >> John, >> uh, I don't know if this is a Chris question or a Joe question as he's read the name, but do we know what species we're looking at herbicide here? So Joe Mcdana is right that I believe this was focused on the things that
require professional application. Um because volunteers can pull back and you joke it's not fun but if I didn't have to you know if I didn't have something else to do I would totally do it. Um but yes there are things like tree of heaven and um
other nasty ones. Um oh yeah Japanese notweed is another one. Um, >> uh, yes. Unfortunately, if you name it, it's a town forest. Um, in terms of of invasive species in New England, I think
buffalo is one of the biggest. Yes. Yeah. But that that's the one. Thankfully, that's the one that does not necessarily require herbicide. Uh it's tree of heaven, but you can just do literally anything to that thing and it's got like a six foot deep root and it's going to come back unless you, you
know, uh bring the road up. >> I have no problem with recommending this and letting the town forest committee explain it meeting too. >> I I expect discussion given all the other financial conversations we've had. >> See how late and I can get to it. how
long that discussion has. >> This is before snowshuffling. Uh so [Music] other comments, questions on this article.
Uh sounds like it's time for a motion. >> Motion to recommend the contents of article 10 to meeting as presented. >> Second. Okay, that was that. Thank you, Emily. Thank you, Ed. Um, last chance for comments before a vote.
All right. Uh, then we are voting. Uh, Ed, >> yes. >> Emily, >> yes. >> Jeffrey, >> yes. >> Joe, >> yes. >> Henry, >> yes. >> John, >> yes. >> Mark, >> yes.
>> Joe Garnan, yes. 8 Z. Uh so now we need to discuss uh the um uh giving the reports. >> Um that's the last the only other article in warrant snowsho
articles that does >> there is thank you to the couple staff folks heading out. Um yes um I will I will comment I guess it's I guess it's it is not on our agenda because our agenda is financial articles and the charter update is not a financial
article. Uh interestingly the the uh there is an amendment to the proposed amendments to how equity members are appointed. Um thanks if you didn't read that part go look it up. >> Um it's it's nothing controversial actually you don't don't reappoint
yourself. um which I think is a extremely you know solid recommendation. All right so back to the uh reports um I will start actually rather than just dictatorally assigning these are there any ones that people are particularly
interested in presenting [Music] um if if you want to go for it. I was I was gonna volunteer for that one if if uh if you get into it. >> Okay. Yes. No, it's it's um All right. No, I will certainly let you take that one. Um it's it's town meeting. I can
talk there if if I really want to. Um so, um I don't need to be giving the report for that. All right. So, then let's uh take it from the top. I will um if there are no other um
uh volunteers, I'm just going to walk through people here in the room. Um uh Jeffrey, you want to do the capital plan? >> Yeah. >> Uh and then uh Andre the uh amendments to the FI26 budget.
>> Okay. >> And then the uh transfer borrowed funds. Um actually, yeah. Um, Mark was the one who had the good suggestion on that. So, I want to give you first dibs as opponent. >> Five you're talking. >> Uh, yes.
>> All right. Sounds good. No, no good deed to go unpunished. Um, so all right, then I'll turn to John for priorities bills. >> And the additional funds for reverence fund I will be happy to present. All right, got that down in the notes.
Jeffrey for three, Enry for four, Mark for five, John for six, uh Joe Carneahan for seven, and Joe Mcdana for 10. >> Those on Zoom get nothing. >> Yeah. Well, >> pay it pays to be able to ask. >> I mean, they did, in fairness, they did
do like all the motions tonight. So, they are they're they're pitching in in their own way. All right. So, um returning to the agenda, we have um future agendas. Um, we did get a question about whether we wanted to post
for um, um, Matt stepped out, but we actually don't need him here to have this conversation. Whether we want to post for uh, the select board meeting when there'll be a review of financial policies. I'm guessing there aren't that many people who are looking for something to do on Tuesday night, but
um, didn't want to put that out as a question. Um, sounds like I should try to attend. Um, so some of this was my idea. Um, other folks are certainly welcome to attend, but we don't need to. It's not a future agenda. We're not
posting. >> Joe, are you Joe? Are you saying this for next Tuesday's soccer board meeting? >> Correct. >> Because Matt has told us that um our request to them for a state review of financial policies will be on their agenda. So,
>> I can be there, Joe, too. So, >> all right. Cool. All right. Yes. There's a couple of us who will try to make it. That increases the odds that one of us will be able to view it if something comes up. So, I appreciate that. No, but Matt does not look like we need to post for Tuesday. We don't need to post income for Tuesday. >> Okay.
>> There might be two or three of us. It looks like >> Okay, that that's fine. And some You think somebody will come? >> Yes. Okay. >> Ed and I are both We'll both try to make it. >> Excellent. Thank you. >> Again, others are welcome, but um if a
fifth person shows up, I will politely. All right. Um, okay then. Uh, so let's see. Looking back at the calendar, so we have a spot for a meeting in early November, but I believe that's like a provisional spot in case there are last
minute warrant changes. Is that >> um Well, I think one of the other things that's developed since the the last meetings, we we are and I ran this by the select board. We're going to try to do a special meeting within the town meeting. So, there'll be a separate
warrant for that. That's only two articles. One of them was um the senior tax exemption that we did a few years ago. Apparently that has to be essentially re-uped every three years. So that's coming up that expires at the
end of the fiscal year. And in order to give the legislature enough time because it's a home rule, um Victor, who's our assessor, felt that we should uh present this now and give the state enough time and then that that's really the only financial article. There's one more, but
yes, that's the one you would be concerned about. So, so we might need another meeting to vote on that. That's >> all right. So, on my calendar, I'm also pulling up the uh town website to make sure it agrees with my calendar. Um
there's a spot for a meeting on November 5th that is right before meeting although I'm assuming that maybe with a special Actually there's a question. Is there a constraint here where we need to meet to you know satisfy some you know print deadline or can we just meet at the last
minute for town meeting and give our report live? >> You could you could do that too. I mean that's you can do it. You can give your report live there. I mean, if we can get if we have enough time to get things in the book, that's preferable. But if that can't happen for whatever reason, we've
had um we've had an ADU, but certainly I think bylaw committee give a report on the floor. So, >> so what would the deadline be if we were to get it into the print packet? Because I kind of thought this meeting was sort of the last minute. >> Yeah, it was. No, this was this was kind
um I don't know if Jackie, are you on? I think because she is Z that Jack can you >> Yes, I am. >> So, do you know in terms of I'm talking a little bit about the special town meeting and closing that warrant and having a vote on that and also going to print. Do you know what the the date is,
the print date is that you're working with on that is? >> So, we would be able to print that inhouse because it would be a really small warrant report. So we would just have to have everything by the 23rd so it can be available um for town meeting members on the 27th.
>> Okay. Okay. So that in terms of a finan vote if that would come later that that report could be just made on the floor then essentially right. >> Correct. >> If they don't vote before the 23rd we can't vote now. We don't have it yet.
>> Yeah. And the 23rd is coming up. right at 25 >> and the select board doesn't close it until Tuesday. >> Yeah. So that's it was a little bit of a last minute thing, but I didn't want to jeopardize the senior tax exemption and I just found out about it. Um so within
the last couple weeks, so uh what >> does that mean on the 22nd or >> So we could meet on the 22nd. Our calendar currently says we'll meet on the 5th as needed, not the 22nd. So, if we're doing a live report on the floor,
meeting on the 5th is fine. >> Yeah, >> sounds like that's okay. >> What's held on my calendar, and I mean, I love you folks, but three Wednesdays in a row is like that should be like that's we're going to do that in March. Yeah, probably need to do that in October.
>> All right. So, let's plan on voting on that at our um November 5th meeting. >> That's fine. Is there anything else that needs to go into the November 5th meeting we should be thinking about? I suppose it's possible there may be
followup from the you know select board u on financial policies but we'll know after Tuesday. >> Um there also might not be anything for us to discuss just like board says yes ask and then they ask and then we
haven't heard back yet so nothing to nothing to discuss. Um I do understand there is some waiting list for that policy review thing. All right. Other things future agendas. All right. Um I didn't see minutes in
the packet. She sent it to >> day. Okay. And I had the sort of day at work where I did not check my personal email. So, I have not looked at the minutes, but have other people have enough other people on the committee seen the minutes? We can
we can we can put them on the screen here, too. Of course, >> they were lovely. >> I mean, I would I would have I would have been genuinely surprised if um
so I'm taking a look myself now. Thank you for everyone's read. This reminded me of a future agenda topic that I mentioned earlier tonight, but hold on to that while people are commenting on these minutes. Are there any comments or questions on
the minutes? >> Emily, you better make a motion before Mark here. >> Mot motion to approve the minutes from the October 8, 2025 finance committee meeting as presented. >> Second. >> Second. >> Thank you, Emily. Thank you, Jeffrey. Sorry, Ed.
>> That's okay. >> All right. Um, switch back to the music. It's the Zoom stuff. Um, all right. Uh, let's take a vote. Uh, >> Ed, >> yes. >> Emily, >> yes. >> Jeffrey, >> yes. >> Joe, >> yes.
>> Henry, present. >> Uh, John, >> yes. >> Mark, >> yes. >> Yes. Seven, yes. One abstain. Um the future agenda item that we talked about earlier was um I would and this doesn't
have to be November 5th, but um you know we're now with that with the financial contract looking like it is people are going to ask questions and and we have our own questions about um the actual mechanics of considering an override. Who talks to whom when? What are the
options to vote? Who decides when the vote is? Um, I already have opinions. Um, uh, and I'm I'm sure I'm not the only one in this well-informed and active committee. So, um, that is something that, you know, if it's a, if there's anything to discuss yet, I don't know if
we could talk about it then. Um, otherwise, we want that to be a five-minute meeting where we turn around and approve the, you know, one thing and go on. We can we can do it that way too and revisit it later. I guess the urgency of the agenda item depends on the timeline of an override, which itself is the question.
So, uh, you and I can be in touch about that and what what we need. >> All right. Um, double check. >> Motion to adjourn. >> Second. >> Thank you, Ed. Thank you, Emily. Let us
vote. Ed, >> yes. >> Emily, >> yes. >> Jeffrey, yes. Joe, >> yes. >> John, yes. Mark, >> yes. Joe Carneahan, yes. Thank you all for a productive meeting.