Reconsideration of Articles 61 and 63
It was brought to the committee’s attention that minor language changes needed to be made in articles 61 and 63 as suggested by the Department of Review. The suggestion was for rephrasing to read “said sums to be utilized to reduce the tax rate,” instead of the original “to be utilized in the termination tax rate.” The committee agreed on a motion to reconsider these articles, which was followed by a unanimous vote for the motion to amend the language of the vote.
Prudent Investor Warrant Article (Article 56) Discussion
The committee next considered whether to reconsider the Prudent Investor Warrant Article (Article 56). The Town Manager and Treasurer proposed a compromise involving making a clear investment policy for the town before implementing the changes requested in Article 56. The compromise included consultation with the Finance Committee and Select Board and soliciting investment management services through a public procurement process.
However, members of the committee expressed hesitation and concern about moving forward without an established investment policy. They emphasized the importance of institutional oversight, due process, and the need for public input and accountability in such a long-term and significant decision. Suggested adjustments to the policy or the process did not satisfy the majority of the committee members.
After a discussion on the importance of having a detailed policy and oversight framework in place before approving such a change, a motion was made to reaffirm the committee’s stand against the article. A motion to reconsider was proposed but failed to pass. The majority voted not to reconsider the article, signaling their stance to maintain a “no action” vote due to the absence of a completed investment policy.
Meeting Scheduling
The Chair of the Finance Committee outlined the future meeting schedule, noting that meetings are expected every Monday and Wednesday unless indicated otherwise. The future sessions would focus on various agenda items such as Minuteman presentation, town budgets, the capital plan, and potentially collective bargaining agreements. Discussing special arrangements for Town Meeting and scheduling the end-of-year dinner were also part of the planning.
The committee was reminded to ensure that meeting commitments like collective bargaining agreements are finalized before their discussion deadline. Lastly, the possibility of changing meeting times to align with trial runs for Town Meeting was mentioned, with no concrete decision communicated.
End-of-Year Dinner Plans
There was a brief discussion about volunteers for organizing the end-of-the-year dinner, with a tentative date being proposed. The committee was encouraged to participate in the planning process for this event.
Conclusion
The committee concluded that there was no need to meet the following Monday, indicating efficient progress on the topics discussed. The session ended without moving to any other agenda items, indicating that the ACMI productions’ support was acknowledged at the end.
Source: https://www.youtube.com/watch?v=QLqtEe7utNI