Budget Committee of Jan 18, 2016
Meeting called to order at 6:35 pm. In attendance: Dick Keller, Chris Mock, Beth Down, Chairperson; John Pfeifle, Don Jackson, Jennifer Richardson, Kathy Rogers. Cheryl Behr prepared minutes.
Discussion on funding the Fire Department warrant for a washer/dryer and drain containment system. The discussion was to liquidate the ambulance capital reserve ($70,787 plus interest) into the general fund as one warrant article and the fund the Washer/Dryer/Drain sys from Fund Balance. The remaining balance (+/- 16,700) would be taken off the cost of the fire pumper.
Discussion on the need for the pumper of that size, other possible options (water sys) were discussed. Useful life of the equipment, ability to access homes and bridges and the availability of used or smaller equipment were discussed.
The matter of purchasing the pumper now (CIP recommended 2019-20) was discussed. Low interest rates and avoiding increased equipment costs in 2020, highlighted considerable savings to the town for the purchase.
Reworking the figures to reflect the new amount to fund follows:
The current cost of the Equipment is $475,000. The town would be looking to finance $388,300. For 7 years it would be a 2.6% rate and annual payment of $60,732.
The same #$388,300 for 10 years it would be a 3.0% rate with an annual payment of $44,993.
Motion was made to liquidate the ambulance capital reserve and return the money to the general fund. Motion, second and vote was unanimous.
Motion to fund the Fire Dept Washer/Dryer/Drainage capture system form Fund Balance was motioned, seconded and vote passed unanimously
Motion to apply the remaining $16,700 to the purchase of the pumper truck was motioned, seconded and voted to pass unanimously
Motion to recommend the fire pumper for bonding this year. Motion, second vote passed with 5 yes, 2 no (Keller & Richardson)
Committee met to review the remaining Warrant Articles and possible funding :
Hwy Expendable Trust: passed unanimously 25,000.00
Hwy Truck Lease passed unanimously 30,400.00
Cemetery Tree removal passed unanimously 10,000.00
BNSYS passed unanimously 2,750.00
Police Cruiser hold 8,770.00
Return Town Offices
To Town hall hold 30,000.00
Boat Launch passed unanimously 6,000.00
Road Work hold
Capital reserves;
Fire Heavy equip passed unanimously 35,000.00
Fire bldg maint passed unanimously 5,000.00
Town Facilities passed unanimously 5,000.00
Revaluation passed unanimously 5,000.00
Town emergency passed unanimously 5,000.00
Gravestone passed unanimously 1,000.00
Next meeting on January 25th at 6:30 pm (after selectmen’s meeting). Meeting adjourned at 8:45pm.