HomeMy WebLinkAbout2008-06-26
d
0:>
-"
c 2:
.,;,.- G1
I
co
:;i:::>
'-0
Ui
0\
Nantucket County
Finance Review Committee
Minutes - Meeting held June 26, 2008
!Approved: August ih, 20081
A duly noticed meeting of the Finance Committee, sitting as the Nantucket County
Finance Review Committee, was held at the High School Cafeteria, Nantucket Public
Schools on Thursday, June 26, 2008, commencing at 4:45 p.m.
Present: Chairman Jim Kelly, Christopher Kickham, Steve McClusky, Bruce Miller, Peter
Morrison, Matthew Mulcahy, and Michael Rosen
Absent: Charity Benz
Also present: Town Manager Libby Gibson, Assistant Finance Director Irene Larivee, and
Craig Abernathy
1. Call to Order:
Chairman Kelly called the meeting to order.
2. Public Comment:
None.
3. Announcements/Updates:
None.
4. Supplementary Budget Request Increase:
Chairman Kelly introduced the item of discussion as a "supplementary budget request
increase for County Administration in the amount of $80,000 to be covered by the
Minutes - Finance Committee
June 28, 2007
Page 2 of3
unobligated County Excise Fund balance." He then invited Town Manager Gibson to
elaborate on the item. Town Manager Gibson reported that the County Administration
portion of the 2008 budget had a shortfall of about $68,000. However, she stated that
there may be some outstanding bills, so she is asking for an additional $12,000 to
account for those items. Gibson said that much of the increase was due to surveying
and legal costs. She cited the Sheep Pond Road Case as an example. That case went to
trial in May, and there was a "very significant cost associated with that" case.
Detailing the process of amending the budget, Town Manager Gibson stated that the
amendment needed the approval of the County Commissioners, the Finance Review
Committee, and then it would go before the State Finance Review Board. Ms. Gibson
said that the amendment, if passed, would go before the State Finance Review Board,
"hopefully tomorrow."
Chairman Kelly made a motion to approve the supplemental budget request which was
seconded by Mr. Kickham.
Chairman Kelly invited questions. Mr. Miller asked what the remaining balance was in
the County Administration Excise Account. Ms. Gibson replied that the remaining
balance was "about one million dollars as of the end of Fiscal Year '07." Mr. Miller then
asked what the funds were typically used for. Ms. Gibson said that the funds carryover
from year to year, and noted that it may be possible to use some of the funds for the
Sheep Pond Road Case. Mr. Miller asked if that case was a Town or County case, and
she replied that it was a County case. Mr. Rosen asked if it would be better to pay such
a settlement from the County Administration Excise Account rather than the Reserve
Fund. Town Manager Gibson agreed that it would be better, but she will need to look at
all options and come before the Finance Committee at another time in regard to the
Sheep Pond Road Case.
Mr. Rosen asked if the County Administration Excise Account funds were invested or
earning interest. Ms. Larivee responded that the funds were earning the normal
amount of interest associated with a bank account. Mr. Rosen then asked if it were
possible to have that money "work harder." Ms. Larivee said that she would look into
the possibility for investment opportunities in the County. Ms. Gibson added that
previously it had been the intention to use a large portion of that money for the Public
Safety Complex.
Chairman Kelly proposed a vote. Mr. Mulcahy moved and Mr. Kickham seconded a
Motion to approve the requested Supplemental County Budget increase of $80,000.
The motion passed unanimously.
Mr. Kickham asked about any reply to recent correspondence between the Town
Manager's Office and the Sheriff's Office. Ms. Gibson stated that she had received no
reply to her last letter, in which her office indicated a "significant misunderstanding."
Minutes - Finance Committee
June 28, 2007
Page 3 of3
Chairman Kelly thanked all of the retiring members for their hard work and dedication,
noting in particular that this would be Bruce Miller's last meeting as a member of the
Finance Committee. Returning member Tim Soverino also thanked Mr. Miller for his
many years of hard work.
He also stated that he is open to any suggestions for improvement to organization and
efficiency of the Finance Committee, adding that he is looking forward to "making this a
fruitful, enjoyable and worthwhile enterprise."
5. Adjournment:
A motion to adjourn was made by Chairman Kelly and seconded by Mr. Kickham. The
Committee adjourned at 4:55 p.m.
*
*
*
*
*
*
*
*
*
*
*
*
Craig Abernathy