Budget and Finance Meeting December 21

Budget & Finance Committee

1. Meeting was called to order by Chair at 6:57 p.m.

2. Committee Attendees: Scott Fisher (Chair), Ty Kehrer (Vice Chair), Marion Donnelly, Wes Elliott,  Robin Kinkead, and Ken  Walsh.

Non-Committee Attendees: Wendy Taylor (General Manager), Suzanne Allen (Armstrong Management) Kevin Ubelhart (SRP Board of Directors) and Schalyn Sohn (SRP Resident).

3. Public Comment / Issues:  None.

4. No one electronically recorded the meeting.

5. The Committee reviewed the minutes from its November 30, 2011 meeting.

a. Ty Kehrer made a motion that, “The Budget and Finance Committee accepts the minutes from the November 30, 2011 Budget and Finance Committee Meeting.”  The motion was seconded by Ken Walsh and passed with Wes Elliott abstaining.

6. The Committee reviewed the November 2011 financial statements.  Suzanne Allen of Armstrong Management presented  the financial statements to the Committee.

a. Wes Elliott made a motion that, “The Budget and Finance Committee accepts the November 2011 financial statements as presented.”  The motion was seconded by Ken Walsh and passed “Unanimously”.

7. The Committee reviewed the current operating budget surplus and future investments.

a. The Budget and Finance Committee discussed recommending to the board a $100k allocation to Capital Improvement for upcoming 2012 expenditures and moving $260k to multiple Replacement Reserve categories that are currently below funding levels. 

8. The Committee was updated on and reviewed the maintenance building land purchase transaction (with Capital Improvement funds) scheduled for December 27, 2012.

9. The Committee reviewed and elected committee leadership for 2012.

a. Robin Kinkead made a motion that, “The Budget and Finance Committee elect Scott Fisher as Chair for the 2012 term.”  The motion was seconded by Wes Elliott and passed “Unanimously” with Scott Fisher abstaining.

b. Robin Kinkead made a motion that, “The Budget and Finance Committee elect Ty Kehrer as Vice-Chair for the 2012 term.”  The motion was seconded by Wes Elliott and passed “Unanimously” with Ty Kehrer abstaining.

10. The meeting was adjourned at 7:50 p.m.

11. The next meeting of the Budget and Finance Committee is Wednesday, January 18,2012 at 7:00 p.m. at Town Hall.