City Council - Finance Committee

CITY OF EASTHAMPTON OFFICE OF THE CITY COUNCIL Easthampton Municipal Building 50 Payson Ave., Ste. 100 Easthampton, Massachusetts 01027-2260 Telephone #: (413) 529-1460 8/12/2020 MINUTES FINANCE Meeting 8/12/2020 Attendees: FINANCE Committee Members*: Councilor Dan Rist, Chair Councilor Peg Conniff *Councilor Bill Lynch was absent Other Attendees: Burns Maxey - City Space Mike Tautznik - City Space Jamie Webb, Asst. City Planner Val Bernier, Auditor, City of Easthampton Homar Gomez, City Councilor - Precinct 2 Jen Gallant, City Treasurer Meeting called to order at 5:00pm. The meeting was videotaped. https://youtu.be/8brsvNmJsAI Approval for past minutes. No meetings to approve NEW BUSINESS: 1. Supplemental Appropriation - CPA Request - $500,000 to new Old Town Hall Retailed City Match Account 1.1.Both items 1 and 2 were approved by CPA in the Spring 1.2.Councilor Rist explained that the original plan was to bond early for this project. City Finance felt this was not the best plan. The City Auditor advised to move CPA funds to an account for this project. The new account is Old Town Hall Retained City Match. This line item was created during the budget process.  1.3.This appropriation is to move money moved from CPA-Historical Preservation for the Old Town Hall project. It is actually not being spent…it will still be part of the budget. Burns Maxey spoke about how the arts are struggling and the need to have Old Town Hall open up and bring people in to the space. This will bring money into the city. Motion that Finance Committee approve the appropriation of $500,000 to the Old Town Hall City Match account. Motion: Councilor Conniff, Seconded by Councilor Rist. Passed 2-0 2. Supplemental Appropriation - CPA request - $9,900 to archive historic City Records. 2.1.Barb LaBombard, City Clerk spoke about the need to get records in order. The effort is too much for individual departments to do it themselves 2.2.King Information Systems has done this in many municipalities and this request will involve utilizing their expertise in creating a plan. Chris Chartrand from King Informa- tion Systems, provided a summary. 2.3.Jen Gallant, City Treasurer spoke about her past experience with this company and had very positive feedback. Motion that Finance Committee approve the appropriation of $9,900 for city archival records. Motion: Councilor Conniff, Seconded by Councilor Rist. Passed 2-0 3. Review of End of Year Fiscal Reports 3.1.Val Bernier, City Auditor and Jen Gallant, City Treasurer answered questions from committee on end of year fiscal reports 3.2.Discussed Cannabis revenue and how it is reflected in the final numbers. City re- ceives quarterly money from state for excise taxes. City also receives impact money as part of the cannabis licensing. 3.3.Discussed the exceptionally high Investment Income which is a result of the positive bond rating and interest from the money received from the bonding. 3.4.The City Auditor believes that the FY2020 numbers will be a good result. Every- thing fell within the budget. Free Cash will be certified in October or perhaps a bit lat- er due to COVID-19. 3.5.The City Auditor also believes the FY2021 numbers are looking good and we are in great shape. 3.6.Further discussion on the Expense side and things are looking good there as well. OLD BUSINESS: 1. Review of Salaries and Stipends per Charter 2-4 (a) 1.1.Chair Rist explained the rationale behind the discussion of potentially increasing some stipends and the Mayor’s salary. More discussion in future meetings 1.2.Councilor Conniff explained that any changes to stipends and salaries can only hap- pen in the first 12 months of a term. Additionally, mayoral salary and all elected posi- tions would not happen until January of the following term. Stipends for committees would be impacted immediately upon passage of an ordinance. 1.3.Councilor Gomez requested that Mayoral salaries be compared to other mayoral salaries of cities that have a similar population. 5:30 pm - Motion to adjourn by Councilor Rist, seconded by Councilor Conniff. Motion passed 2-0 Next Meeting: Wednesday, 8/26/2020 at 5:30pm