Meeting Opened at 7:00 PM

In attendance: Charles Morse; Dave Newbert; Bill Cooper; Larry Guay; Frank Remley.

Decisions Taken:

1) Larry Guay will work with Chief Merry to evaluate new cruiser options (lease vs. purchase) and make a recommendation to the FinCom via e-mial by Dec 7.

2) A request was made by the Personnel Board for approval to spend $350.00 for upgrades to ADP payroll software. ($700 annually). While it viewed the proposal favorably, the FinCom agreed this is not a FinCom decision.

1. Jim Cashman owns the budget for this item, and he can decide to spend it within his budget authority, and as contract owner with ADP.
2. Jim can choose to re-negotiate the amount and terms with ADP as required to meet the need.
3. Should Jim decide to seek alternate payroll services, a competitive bid process would be required, and full financial and risk impact evaluation conducted and presented to the FinCom for recommendation.

3) The Personnel Board’s Job Description for the prospective Financial Director was reviewed and it was considered comprehensive. It was recommended that a FinCom member should be part of the interviewing process.

4) Frank Remley was nominated by Bill Cooper to become the new FinCom Chairman. Seconded and unanimously approved.

5) FinCom requested of Jim Cashman the following three items:

1. Monthly budget worksheets (MTD expenditures) be e-mailed to FinCom members in Excel format. Paper versions would then no longer be needed.
2. Jim to prepare a Pro-Forma monthly cash flow scenario and present and explain at next FinCom meeting. Also maintain and distribute as a regularly monthly report. Excel format. Frank Remley and Dave Newbert will work with him on the format for this which will be in Excel format.
3. Prepare a monthly recap of tax delinquency collections. Recap to include:
1. Name / address Tax ID and amount outstanding. Adding a column for ‘oldest year outstanding’
2. Monthly recap of outstanding balance by year
3. Monthly recap of delinquent taxes collected. Include # of remaining properties outstanding at the end of each month.

Meeting adjourned at 9:50pm. Next meeting to be held at Town Hall, Dec. 19 at 7:00 pm.