HomeMy WebLinkAbout2020-10-21 FinCom Minutes for October 21,2019,adopted Dec. 10
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Committee Members:Denice Kronau (Chair),Stephen Maury(Vice-chair),Joseph T.Grause Jr.,
Peter McEachern,Joanna Roche,Peter Schaeffer,Chris Glowacki,Jill Vieth,George Harrington
— MINUTES —
Wednesday, October 21,2020
This meeting was held via remote participation using ZOOM and YouTube,
Pursuant to Governor Baker's March 12, 2020 Order Regarding Open Meeting Law
Called to order at 4:00 p.m. and announcements made by Ms. Kronau
Staff in attendance: Brian Turbitt, Director of Finance;Alexandria Penta, Financial Analyst
Attending Members: Kronau, Grause, Roche,Schaeffer, Glowacki, Harrington
Absent Members: Harrington–No audio;Maury,McEachern,Vieth
Late Arrivals: Schaeffer,4:03 p.m.
Documents used: Draft minutes as listed;Capital Improvement Plan (CIP) Requests
Adoption of Agenda:
Action Motion to Approve. (made by: Glowacki) (seconded)
Roll-call Vote Carried 5-0//Roche, Glowacki, Grause,Schaeffer,and Kronau-a e
I. PUBLIC COMMENTS
I. None
II. REVIEW/APPROVAL OF PRIOR MEETING MINUTES
1. July 27, 2020
2. September 21,2020
Action Motion to Approve. (made by: Roche) (seconded)
Roll-call Vote Carried 5-0//Roche, Glowacki, Grause, Schaeffer,and Kronau-aye
III.AIRPORT FUEL REVOLVER INCREASE
1. Approved limit of$2,000,000 raise to $3.500,000
Sitting Kronau, Grause,Roche, Schaeffer, Glowacki
Discussion Turbitt –At the time of Town Meeting we revised the fuel revolver cap down to $2m from
$5.2m because airport did not believe they would get the traffic that would get them in excess
of the $5.2m. To date they've brought in $3.7m and expended $1.8m in fueL There is a
provision that says the Fuel Revolver authorization can be increased as long as both FinCom
and Select Board concur. Anything in excess of $3.5m would be transferred into their
operating budget.Asking for a favorable approval for that cap raise.
Schaeffer–Asked if the airport has gotten more traffic than anticipated.
Turbitt–Yes.The increase probably relates to the private air traffic versus commercial traffic.
Grause–Asked if$3.5m is enough;it seems to be cutting it close.
Turbitt –Yes, most fuel occurs between June and end of August; they've passed the busiest
time.
Glowacki–Asked the disadvantage of raising the cap too high.
Turbitt–They would not meet the threshold of what they budgeted over.
Action Motion to Approve. (made by: Grause) (seconded)
Roll-call Vote Carried 5-0//Roche, Glowacki, Grause, Schaeffer,and Kronau-aye
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FinCom Minutes for October 21,2019,adopted Dec. 10
IV. UPDATE ON FINCOM ACCESS TO CIP SOFTWARD & TRAINING
Turbitt — There is a joint meeting scheduled for November 17th We have been talking about log ins for
FinCom and SB to have access to the Capital Program Committee (CapCom) CIP request software. We
have created log ins that grants access without edit permission. You can see all the documentation for all
capital projects under review. Rich Sears is managing the capital programs and software; he will schedule
individual meetings with FinCom members to walk through the system.
V. NEXT MEETING DATE/AD OURNMENT
I )atc: TBA
VI. COMMITTEE REPORTS/OTHER BUSINESS
1. A11 citizen warrant articles are due November 13th.
2. Joint meeting with CapCom and Select Board on November 1Th
3. First public hearing for warrant articles is December 10th.
VII.AD OURNMENT
Action Motion to adjourn at 4:15 p.m. (made by: Schaeffer) (seconded)
Roll-call Vote Carried 5-0//Roche, Glowacki, Grause, Schaeffer,and Kronau-aye
Submitted by:
"Terry L. Norton
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