Finance & Pension Committee

BOROUGH OF DOYLESTOWN FINANCE AND PENSION COMMITTEE MEETING THURSDAY, JULY 10, 2025 – 6:00 pm MINUTES The above meeting was held on the above date and time with the following people present: Committee Members: Bob Kinney, Connor O’Hanlon Council Members: Staff: Caroline Brinker, Caitlin Hernandez Approval of Minutes Approval of the minutes tabled to the next meeting. Municipal Electric Procurement – Danielle Donovan, Mantis Innovation Ms. Donovan gave a comprehensive analysis of what might be expected in renewing the Borough’s electric procurement contract. Current auction pricing is significantly higher than it was 3 years ago, with kwh pricing up as much as 800%. It was explained that this was largely because of supply factors (natural gas, primarily), increases in AI generation demand, and power-plant retirements (coal). Less than 20% of our current power mix is from coal; 50% is natural gas, the remaining contributions from hydro, solar, nuclear, and wind. Since contract prices can be locked in at any time before March 2026 (when current contract ends), the Committee requested Ms. Donovan provide monthly pricing updates to see if pricing drops. The Committee also thought that it would be prudent to see how the activation of the solar panels on Borough Hall roof would impact usage. Additionally, “green” pricing will be considered at either 50% or 100% generation mis, both of which will increase monthly costs. Concerts on the Commons (Fall Series) Ms. Hernandez provided an overview of the current and proposed contract for the two September concerts (9/4 and 9/25). Some minor tweaks to the contract will be made. The Committee members recommended Council approve the concert series and contract. Verizon Franchise Renewal As part of the franchise renewal process by Cohen Law Group, there has to be a Public Notice and Comment Hearing. The intent of a Public Notice and Comment Hearing in the context of cable franchise renewal is to discuss past practices of the cable operator and the future cable related needs of the municipality. Cohen Law Group will continue to work with Verizon in an effort to reach a mutually agreeable franchise agreement. This item will be passed to the Borough Solicitor for scheduling. Consideration of Resolution for EMS Direct Insurance Reimbursements The Committee reviewed a proposed Resolution supporting Pennsylvania House Bill 1152 requiring insurance companies to directly reimburse Emergency Medical Service providers for services rendered to Commonwealth residents. The Committee members recommended Council approve the Resolution. Old/New Business - None Public Comment – None The meeting adjourned at 7:12 pm. Respectfully Submitted, Caroline Brinker Asst Manager/Finance Director