Budget & Finance Feb. 21, 2019 Meeting

Budget & Finance Committee

Meeting was called to order by Ty Kehrer at 7:02pm at Town Hall.

1. Committee Attendees: Ty Kehrer (Chair), Wes Elliott (Vice-Chair), Dale Urbanek, Frank Puleo, Ken Walsh and Allison Stern.

2. Non-Committee Attendees: Wendy Taylor (SRP General Manager), and Angee Dill (SFMC).

3. Public Comment / Issues: None

4. No one electronically recorded the meeting.  Minutes were recorded for this meeting by Ty Kehrer.

5. Review and Adopt the Minutes from January 2019 Meeting. 

a. Allison Stern made a motion that, “The Budget and Finance Committee accepts the January minutes as presented.”  The motion was seconded by Frank Puleo.

b. The motion passed with Ken Walsh and Ty Kehrer abstaining.

6. Review of Financial Statements:
a. The Budget and Finance Committee reviewed the Final December 2018 financial statements.  Frank Puleo made the motion that, “The Budget and Finance Committee accepts the Final December Financials as presented.”  The motion was seconded by Dale Urbanek.  The motion passed “Unanimously”.
b. The Budget and Finance Committee reviewed the January 2019 financial statements.  Wes Elliott made the motion that, “The Budget and Finance Committee accepts the January 2019 financials as presented.”  The motion was seconded by Allison Stern.  The motion passed “Unanimously”.

7. Investments:

a. The Budget and Finance committee recommended a transfer between funds to clean up some of the due to from accounts.  It was suggested that a transfer of $84,693.29 be made from the General Operating Reserve Morgan Stanley Money Market to the Replacement Reserve Morgan Stanley Money Market. 

b. The Budget and Finance Committee recommended the purchase of a new Replacement Reserve CD in the amount of $240,000 from the Morgan Stanley Replacement Reserve Money Market.  The CD is a 4 year term, best rate available.

c. The Budget and Finance Committee recommended the purchase of a new Replacement Reserve CD in the amount of $240,000 from the Morgan Stanley Replacement Reserve Money Market.  The CD is a 5 year term, best rate available.

d. The Budget and Finance Committee recommended the purchase of a new Capital Improvement CD in the amount of $240,000 from the Morgan Stanley Capital Improvement Money Market.  The CD is a 2 year term, best rate available.

8. Bid Review:

a. Meadows Pool Bathroom – The Budget and Finance Committee reviewed bids to renovate and remediate the women’s bathroom at Meadows Pool.  Wes Elliott made the motion that, “The Budget and Finance Committee recommends the use of Adam Contracting at a cost of up to $26,000 to renovate and remediate the women’s bathrooms at Meadows Pool.”  The motion was seconded by Frank Puleo.  The motion passed “Unanimously”.

b. Movie Screen - The Budget and Finance Committee reviewed bids for an inflatable movie screen and movie player.  Dale Urbanek made the motion that, “The Budget and Finance Committee recommends the use of Epic Outdoor Cinema at a cost of up to $15,000 to purchase an inflatable movie screen and move player.”  The motion was seconded by Ken Walsh.  The motion passed “Unanimously”.

c. Crack Sealing 19 streets – The Budget and Finance Committee reviewed bids to crack seal 19 streets in the neighborhood.  Wes Elliott made the motion that, “The Budget and Finance Committee recommends the use of Brothers Paving at a cost of up to $10,000 to seal cracks on 19 street.”  The motion was seconded by Frank Puleo.  The motion passed “Unanimously”.

d. Pond 6 Clearing – The Budget and Finance Committee reviewed bids to clear the brush at Pond 6.  Frank Puleo made the motion that “The Budget and Finance Committee recommends the use of Bright View at a cost of up to $17,000 to clear the brush at Pond 6.”  The motion was seconded by Ken Walsh.  The motion passed “Unanimously”.

e. Owen Park Redesign – The Budget and Finance Committee reviewed the single bid for the Owen Park redesign and replacement of equipment.  The Budget and Finance Committee discussed and reviewed the comprehensive park plan with Wendy Taylor.  Overall the replacement of all the 4 parks due for the replacement were within $10,000 of the reserve study.  Wes Elliott made the motion that, “The Budget and Finance Committee recommends the use of Playground Specialists at a cost of up to $375,000 for the Owen Park redesign and replacement.”  The motion was seconded by Dale Urbanek.  The motion passed “Unanimously”.

f. Front Entrance Redesign Survey – The Budget and Finance Committee reviewed bids for the survey of the front entrance redesign.  Wes Elliott made the motion that, “The Budget and Finance Committee recommends the use of RA Rice at a cost of up to $20,000 to survey the front entrance for a redesign.”  The motion was seconded by Frank Puleo.  The motion passed “Unanimously”.

g. Priesters Pond Pier – The Budget and Finance Committee reviewed bids for a pier at Priesters Pond.  Ken Walsh made the motion that, “The Budget and Finance Committee recommend the use of Terra Tech, Inc. at a cost of up to $31,000 to build a pier at Priesters Pond.”  The motion was seconded by Dale Urbanek.  The motion passed “Unanimously”.

h. Highland Hills Pool White Coat – The Budget and Finance Committee reviewed bids to white coat Highland Hills pool.  Frank Puleo made the motion to use High Sierra at a cost of up to $71,000 to white coat the Highland Hills pool.”  The motion was seconded by Allison Stern.  The motion passed “Unanimously”.

i. Sharepoint Migration – The Budget and Finance Committee reviewed the bid suggested by the Web & Tech Committee to move fileservers to Sharepoint migration in the cloud. Dale Urbanek made the motion that, “The Budget and Finance Committee recommends the use of NT Connections at a cost of up to $6,000 to move fileservers to Sharepoint migration in the cloud.”  The motion was seconded by Allison Stern.  The motion passed “Unanimously”.

8. Discussions - none

9. The meeting adjourned at 8:40pm.

10. Next Budget and Finance Meeting:  Wednesday March 20th, 2019 at Town Hall at 7:00 pm.