Finance & Pension Committee

BOROUGH OF DOYLESTOWN FINANCE AND PENSION COMMITTEE MEETING THURSDAY, APRIL 10, 2025 – 6:00 pm MINUTES The above meeting was held on the above date and time with the following people present: Committee Members: Chair Amy Popkin, Bob Kinney, Connor O’Hanlon Council Members: Mayor Noni West, President Jack O’Brien Staff: Caroline Brinker Approval of Minutes Minutes of February 13, 2025 committee meeting were approved (Kinney/O’Hanlon) Reimbursement Resolution – PENNVEST Funding Agreement The Committee reviewed a draft resolution that will enable Doylestown Borough to pay for PFAS Water Treatment Project costs, on an interim basis, using Reserve Funds until the proceeds of the PENNVEST Funding Agreement are received. The Reserve Fund will then be reimbursed for those costs. The Committee recommended the Resolution be passed to Borough Council for approval (Kinney/O’Hanlon). Ordinance Increasing the indebtedness of Doylestown Borough The Committee reviewed a draft of an Ordinance that increases the indebtedness of Doylestown Borough by the issue of a guaranteed revenue note in the maximum principal amount of $1,043,503 for purposes of financing the portion of the PFAS Water Treatment Project. Mr. Kinney requested a few typographical errors be corrected. After discussion, the Committee recommended the ordinance be passed to Borough Council for an authorization to advertise the ordinance (Kinney/O’Hanlon). Municipal Electric Procurement Doylestown Borough’s thirty-six-month agreement with UGI Energy Service for our municipal energy procurement expires in early 2026. The Borough previously partnered with Mantis Innovation to prepare a RFP for our municipal energy needs with the goal of obtaining the best possible pricing, with “Green” options. The consultant, Danielle Donovan of Mantis, will attend the May 8, 2025 committee meeting to further review and discuss the capacity purchase, wholesale market, and timing for the new agreement. Reserve Fund History The Committee reviewed the Reserve Fund History from 2007 – 2025 and discussed various revenues and expenses. The anticipated 12/31/2025 ending balance is projected at $3,010,160. Public Bathrooms update The new public bathrooms are scheduled to be completed prior to May1. Painting, flooring, interior doors, fixtures, and lighting are scheduled and the remaining costs for the project are under $10,000. 1|P a g e Solar Project update The solar project should be commencing prior to May 1. The interconnection application for connection to the PECO grid has been approved and Exact Solar is scheduling the start of installation. Old/New Business - None Public Comment – None The meeting adjourned at 7:01 pm. Respectfully Submitted, Caroline Brinker Asst Manager/Finance Director 2|P a g e