40:32Tom Shay, a resident with extensive experience in accounting and finance, voiced concerns about the board’s financial management, highlighting a $530,000 shortfall in the water and sewer operations budget and a $69,000 deficiency in retained earnings. Shay criticized the board’s decision to bill the fourth quarter of the water and sewer at the previous year’s rate. He pointed out discrepancies in the board’s claims of prior warnings about budget shortfalls, emphasizing the need for transparency and clarity in the budgeting process.

The board discussed potential solutions, including using retained earnings and adjusting water unit and meter rates. A memo detailed a projected shortfall of $400,000 for the water division and $130,000 for the sewer division, necessitating additional revenue. Three primary options for rate adjustments were proposed, including an increase in the water unit rate and meter rates. Concerns were raised about the implications of depleting retained earnings, with one member emphasizing the risk of major water breakages due to deferred maintenance.

The meeting further explored the financial strategies necessary to address the water and sewer budget shortfalls. The board considered a temporary increase in the water meter rate and discussed the methodology for determining rates based on past usage patterns. A philosophical divide emerged regarding the approach to resolving the shortfall, with some members advocating for maintaining more stable revenue streams and others cautioning against retroactive rate adjustments.

01:32:33In addition to the water and sewer discussion, the Select Board reviewed a proposal for a $4.7 million road paving project. The board debated borrowing strategies, weighing the benefits of borrowing a higher amount to create a financial cushion against the risk of long-term debt obligations. Concerns were raised about the potential impact on other capital projects and the town’s financial health, with some members advocating for a more conservative borrowing approach.

02:06:28The board also touched on the upcoming annual town meeting, scheduled for May 13, 2025, coinciding with the 250th anniversary of the American Revolution. The meeting’s agenda includes 38 articles, with discussions about the placement of citizen petition articles and the potential reordering of articles to accommodate public interest. The board emphasized the need for transparency and collaboration with the planning board to ensure that citizen petitions meet legal requirements.

03:02:07Additionally, the board addressed the renewal of a liquor license for the Bottle Shop, with the owner, James Thomas, facing challenges in securing a lease. The board expressed frustration over the prolonged uncertainty and emphasized the need for action. The board’s decision highlighted the importance of ensuring that valuable licenses are utilized to serve the community.