Okay, good evening, everyone.

This is the fiscal committee of the 30 second Board of Representatives meeting.

The time is uh 7 p.m.

on Monday, April 27th, and I will call our meeting to order.

Uh first item on our agenda tonight, item one, F32.062 for $19,611, an additional appropriation grants, town clerk contract services from community investment fees for historic preservation purposes.

Approved by the Board of Finance 500.

With us, we have town clerk uh David Hoke and grants officer Anita Carpenter.

Uh Mr.

Clerk, would you take it away, please?

Sure.

Um actually just uh very quickly what I was gonna do was sort of lump um F32062 with F32063 just for explanatory purposes.

Okay, since they're related.

So with that, um co-chairs Morrison and Zachary, other board of rep fiscal members, thanks for this.

Um I'm requesting approval of the two appropriations for fiscal year 2025.

Um their actual funds collected by the town clerk to be moved to special revenue fund 2800 from the general fund.

Um the town clerk receives you know, this is just a little bit of background.

The town clerk receives a small portion of these fees for land and mortgage recordings.

Um they are designated for the town clerk's office as per state statute.

Um, and then they're also designated for specific purposes such as historic preservation.

Um, for example, like on a $70 land recording fee, three dollars goes to local capital improvement, two dollars to community investment, and another two dollars goes to historic preservation fund.

Um what's going on here is prior to fiscal 2025, these collections were being booked to the general fund 1000.

They were being swept out at year end and not retained um by the town clerk's office.

So we're just really looking to move these funds to um or these monies to fund 2800, which is um special revenue fund, and to designate for the town clerk as per state statute.

Um that these are the funds that belong there, and to avoid um collection being swept out at year end.

Any questions for me?

Anita, do you have anything to add?

Good evening.

He said it perfectly, but I'm happy to answer any questions.

Any questions from the committee or other members of the board of reps?

Okay, seeing none, take this to a voice vote.

All those in favor of approving item number one, please say aye.

Aye.

Aye.

Any opposed?

Any abstentions?

Okay, that passes unanimously.

Uh how many do we have six in attendance at the moment?

Okay, that passes six zero zero.

Okay.

And item two, f32.

26,913.

Additional appropriation grants, town clerk contracted services from local capital improvement fees for a start preservation purposes.

Uh David, anything to uh add to your prior discussion?

No, just uh you notice the slightly different dollar amount, and this is different fund local capital improvement.

That's it.

Okay.

Any questions?

Okay, seeing none, we'll take uh take this to a voice vote.

All those in favor of approving item two, please say aye.

Aye.

Any opposed?

Any abstentions?

Okay, that passes unanimously.

Very good.

Thank you very much.

Thank you, David.

All right, item number three, F32.064, $50,000.

Additional appropriation grants, grants office LGP grant, direct services from transfer in from general fund for early childhood programming.

Uh, this also was approved by the board of finance 500.

Is there a motion to approve?

So second.

Thank you.

Discussion.

Anita, you want to start?

Certainly.

Thank you, Chair Morrison.

So just to frame this up, and then I think Donation's on as well if you have any programmatic questions.

Basically, this is new funding.

This is taking the place of that school readiness funding that the early childhood program used to administer.

And now it's a program from the state.

They have a required matching portion for $50,000.

That funding was approved, but it needs to be transferred in from the general fund into fund 2800.

So it was previously approved.

And now we're just making that reconciliation so Danace can actually spend it on scholarships.

Okay.

Danach, you have anything to add?

Um that the scholarships are for tuition assistance for our families as they are struggling to have early childhood or high quality early childhood programming.

So the funds are very important, and we do have families ready to get these scholarships.

They go directly to programs.

So it does help the programs in the city.

Okay, thank you.

Any questions from the committee or the board?

Okay, seeing no hands, we'll take this to a voice vote.

All those in favor of approval item three, please say aye.

Aye.

Aye.

Any opposed?

Any abstentions?

One.

Okay, we have one abstention.

With a note of abstention, that passes.

Did we have six or did we have seven?

You you didn't have a originally.

Ah, yes.

Okay, that passes 601.

Okay, item number four, F32.065, 175,000.

Additional appropriation grants, community development program funds to provide additional funding to the boys and girls club to support completion of the playscape at the Yearwood Center.

Do I have a motion to approve?

So motion, a second, please.

Second.

Okay.

Discussion.

Any option?

Sorry.

Yes, yes.

If uh so Moira's not here, but I'll happy to frame this up.

So we are appropriating.

Uh if you recall from last month's meeting, we had the funding that was not grant related, but it was from old admin dollars, old neighborhood stabilization programs that's no longer in existence, and we need to spend that money for its intended purpose.

So this funding for the 175 is from that pot of dollars.

Um, and the the boys and girls club due to cost escalation and being able needing to add drainage to the playscape, needs an additional appropriation.

We were able to find that from that um special revenue from community development uh reserves or revenue sources that are not grant funded, and that's what this funding is for to help them complete the playscape.

Um, basically to add drainage, and they're gonna hire some uh support to manage the project since they are overseeing this uh all themselves.

Okay, any questions from the committee or the board?

Okay, I see no hands.

Take this to a voice vote.

All those in favor, please say aye.

Aye.

Aye.

All opposed.

Thank you.

Any opposed?

Any abstentions?

Okay, that passes unanimously 600.

Moving on to item five, F32.066, $2 million, additional appropriation grants, grant office community development support for renovations at 986 Bedford Street, Family Center's community service site that serves primarily low-income residents of Stanford.

So I have a motion to approve.

So moved second motion and a second discussion, Ms.

Carpenter up again.

Um, this was held by the Board of Finance.

Do you want to are you?

Uh yes, I that yes.

Okay, so we will not be taking any action.

Uh do I have a motion to recommit?

So moved.

Second, moved and seconded.

Try by voice vote.

All those in favor recommending item five, please say aye.

Aye.

Aye.

Thank you.

Any opposed?

Any abstentions?

Okay, item five is recommitted unanimously.

Item six, F32.

Resolution related to the application for a non-priority Hart Magnum elementary school roof replacement project.

Do I have a motion to approve?

Second.

We have a motion and a second.

Very good.

Ms.

Carpenter.

All right.

So we are getting ready to apply for three non-priority applications here coming up in May.

This is the first one.

It is a roof replacement project at Hart Magnet.

So the funding has already been appropriated by the boards.

For uh, if you can if you look at the resolution, it was done at the May 2nd, 2024 board meeting and put in the capital budget.

The resolution will just accompany the application submission, authorizing the mayor to enter into agreements, the superintendent to submit the application and authorizing uh this amount of funding for the project.

We have a question from Representative Lepine.

Thank you, Coacher Morrison.

Um, Anita, can you just clarify for me?

Is the heart school on any list of being um uh taken down in the school rebuild project of what's happening over at Clunan and Hart collectively?

Does that impact the building we're putting a new roof on, or this roof is intended to be on that building for the expected life of the roof with the building going forward?

Um my understanding it should be here for the life of the project, but um I'm seeing if Catherine's on just to confirm that for me.

So my understanding for the slam, you know, master plan is that this roof is for the life of the life of the where the where the uh roof is to be installed.

We would we would not be putting it on the prior on the application list if we end intended to take it down.

The DAS won't let us do that.

I think there's a 20-year commitment.

So that's what I wanted to understand.

Okay, as long as that's been vetted in advance.

I I misunderstood that art was part of that uh rebuilding.

I will confirm that though, and I will clarify.

Okay.

Well, if that's a condition of us going forward and spending $900,000 as a city for it, then I uh I support it with that condition.

Um, but yeah, I guess it would be good for all of us to clarify, but uh that's probably it sounds like it's part of the vetting to get it across the board here in the first place.

It is, but I'm not your your ex resident expert on that part, so I would like to confirm it.

Okay, thank you.

I yield, yeah.

It's a okay.

Any other questions?

Okay, seeing none, we'll try this by voice vote.

All those in favor of approving item six, please say aye.

Aye.

Aye.

Aye.

Any opposed?

Any abstentions?

Okay, item six passes unanimously.

Item seven, f32.068 resolution related to the application for a non-priority Turner River Middle School roof replacement project.

Do I have a motion to approve?

So moved.

Motion and second, please.

Second.

And second.

Ms.

Carpenter, you're very popular tonight.

Please go ahead.

Wow.

Okay.

So same same situation with Hart.

We have Turner River, a non-priority school application for roof replacement.

Um, we need the resolution to submit with the application with the uh city authorizing superintendent to submit mayor to sign documents um authorizing this amount of funding for state and uh city portion.

Okay, any questions from the board from the committee.

Okay, seeing no hands, we'll take this to a voice vote.

All those in favor of item seven's approval, please say aye.

Aye.

Any opposed.

Any abstentions.

Okay, that passes unanimously.

Item eight, F32.069.

A review item, fiscal year 2526, third quarter projections.

Uh Director Sanani, Rick and McGuire.

Yeah, this is yeah, I'm gonna, I'm gonna take this one.

Um so this item, no worries.

Um, so this item relates to the the general fund uh full year expectation.

Um it was based on actual results as of March the 19th.

So it's back about a month.

Um, and some full year projections that we you know we'd receive from the from the various business uh business heads.

So um on a consolidated basis, we're expecting a net surplus at the end of this fiscal year of approximately 6.9 million.

Um and there are really three primary items kind of driving this.

Two on the revenue side, um, one on the expense.

Um so the first item is the building permits have been coming in very strong this year.

Um we're expecting them to be uh about 4.1 million higher than the budget.

So that would be about 13 and a half million versus a budget of about 9.4.

Um the second item is interest income.

Uh that looks like it would should be about a million dollars higher than budget.

Primary driver there is the fact that um for this budget in fiscal 2526, you know, at the time, uh you know, we're expecting uh a few more uh rate cuts than have actually occurred.

So the I think we're getting a little bit of benefit of um of the higher rates than were expected.

Uh and then the third um is on the expense side of things.

We're seeing lower expenses of about, I mean, overall, about we'll call it 2.2 million.

Most of that is related to the vacancy saves that we've been incurring throughout the year.

Um yeah, overall, I'm just looking at the various departments, but yeah, overall it's it's driven by the vacancy saves.

So those are the three primaries, and again, these were based on actuals about a uh a month ago.

Um, and at that time we were expecting about 6.9.

Um the the only thing I I'll mention as a kind of add on over the the course of the last couple weeks is that it does look like building permits are are continuing to be strong.

So um we might have a little bit of upside to that 6.9.

Um, but I I don't have the exact number, but I I think it's safe to assume 6.9 is uh is uh is a good number.

Okay, thank you.

Any questions?

Yes, coach.

Um uh thank you, Bill.

Thanks for the presentation.

Um are there any items which exceeded expectation, seated expenses?

Any expenses which were higher than expected?

So you're breaking up.

Oh, sorry.

The only thing expense-wise that seems to be a little higher that we're seeing from from of a primaries in within the office of benefits and insurance.

Overall, they look like they're up about 300,000, and I believe that's mostly just to this higher premiums, some of the things that they've been uh paying throughout this year.

Okay.

And is there an expectation that those premiums will continue to be how performing?

Yeah, I mean, the the short answer is yes.

Uh we did bake that into the projection, and uh we did it's also baked into the uh the budget expectations for fiscal 26 and 27.

Thank you.

Sure.

Uh Bill, what was the number on the building permits variance?

Um we're at that time we were looking at we're looking to be up about 4.1 million.

Okay.

Um basically a projection of about 13 and a half uh versus a budget number this year of 9.4.

Okay, thank you.

Sure.

Okay, any other questions.

Okay.

Thank you very much, Bill.

Yeah, sure.

Okay.

And our final item on the agenda this evening, item nine, F32.070, 6.3 million dollars approval and appropriation of fiscal year 2024 generals fund surplus.

So moved.

So Elena.

I'm sorry, Lalia.

Are you online?

There you are.

Hi.

I think Elda is she on, is she presenting this?

Sorry.

That's okay.

Um she's not on, Leah.

I mean, I could at a very high level talk to the items.

Um that depth is okay.

Apologies for the confusion.

Give me one moment and I will Bill and I can manage this together.

Hello.

She's online now.

I am I'm here.

I just joined.

Sorry about that.

It was a quick meeting.

All right, I'll turn it over to Elda and Bell.

Thank you.

Thanks, Leah.

Go ahead, Eldon.

If you can give me just one second trying to uh connect with uh Elda, do you want me to start?

Yeah, you can start just okay.

So this is uh again a request for the transfer of the prior year, which was it we're talking fiscal 24 at this point of general fund balance.

Um we ended 24 with approximately 6.3 million uh excess revenues uh again surplus.

Um and the three items uh that we would kind of like to designate.

Um one is 1.2 million uh for rainy day purposes.

Um the second is 1.8 million to the risk management fund for heart and hypertension, and then the third item is 3.3 million um to cap to capital non-recurring.

Um this was focused more for the board of ed, you know, the fund 57 uh that's being used for school construction.

So those are the those are the three items.

Okay.

So any questions?

Yes, uh coach.

Uh thank you, Bill.

Uh question would be what was the original allocation to these three funds last in that budget or the current budget, I should say.

Uh I believe was the rainy day sorry, was fund 57 set to zero at one point.

Yeah, well, in this in the current year budget in the current year, fiscal 25, there was uh there is nothing budgeted.

Um that came out towards the end, but there was nothing budgeted for fund 57 uh in fiscal 20 in this current year, 2526.

Without I since I don't have the the data right in front of me, what was the size of the rainy day fund and the risk monitoring fund?

I don't have the absolute totals.

Uh I can well the the rainy day fund I can approximate.

I know that with this this the number should be approximately 35.

Again, I don't I don't have the the actor in front of me, but in in the neighborhood of about 35 to 36 million, I believe on the rainy day fund with this 192.

It's in the attachment uh provided by the oh okay.

Yeah, 35.192.

Yeah, okay.

And the putting the one point zero take it up to a balance of 36392093.

Okay.

Thank you.

Thank you, Noah.

All right.

Go ahead, Bill.

Yeah, no, that I'll be honest, I don't have the exact numbers in front of me for the the heart and hypertension.

That isn't here either.

No, that's if you want, I can uh we we can uh we can get to those exact numbers and and send them over tomorrow for the heart and hypertension.

Okay.

You have a ballpark generally where the account would be at this point.

I I really don't know.

I do know that this fund is at at a deficit.

It's been running at deficit um for some time now.

So um uh there's definitely uh a goal to continue to add funds to it.

Um, but again, I don't have the actor in front of me, so I I really can't give you the exact number.

What was the question?

Uh how much is in the um the heart and hypertension fund.

Well, the heart and hypertension fund is currently in uh it's a 11 million 11 million dollar deficit um based on the 24 hour.

Okay, sorry, I'm late, guys.

It's all right.

You missed a lot of examples.

Okay, any other questions for Bill.

Okay.

Seeing no hands.

We'll take this to a voice vote.

All those in favor of approving item nine, please say aye.

Aye.

Any opposed?

Any abstentions.

Okay, item nine passes unanimously.

Thank you.

That brings up the end of our agenda tonight.

Thank you to our guests for their presence and their work.

And uh we will adjourn at 7.25 this evening.

And uh Democratic Caucus will meet at 8 o'clock on the separate link your email.

Thank you, everybody.

Thanks for having me.

Thank you very much.

Thank you very much.

And I did want to note that certain members arrived online later on in the voting process.

Uh Representative Graham arrived after the vote for item two.

And uh I believe Representative Bouchard appeared online sometime around or after the vote for uh the presentation for item eight.

So I just want to make sure all of our um reference match for the uh attendance sheet.

So I'm just gonna note that on my copy.

I don't know if you, as the acting chair today, uh representative Morrison want to make sure you make a note that they were online as well.

After I meet uh I mean he might have arrived a little bit before that, but I was sharing the screen, I couldn't tell on the panelists list.

And we have a number of ex officio board members in the attendees that I wasn't able to move over, so I'm gonna note them on the attendance sheet as well, just so you know.

Uh I see Terry Adams and Representative Alston.

Correct, correct.

So I just wanted to make sure that that was noted, and other than that, have a wonderful evening.

Thank you.

Thank you.

Thank you.

Good night, everyone.

Thank you.

Good night.