e e e e um yes so uh Jeffrey here Mark here Joe carahan here uh maranne here Joe here John Sullivan on Zoom here and Ed Ross on Zoom Emily and I just know I couldn't tell who else is there in person so thanks for that um so U relatively um thanks everybody for joining relatively light agenda um and um so we can kind of just jump right in I think the first thing we had on the agenda is um um the aison reports uh Joe if you can just we'll start uh we'll start in the room and then I can uh John and I can go um at the end um if there's anything else we need to um report all right I guess we'll just go around in the same order we did roll call so yeah so school committee met last week they're uh looking at their end of year budgets and how much they want to return to the town versus how much they're going to put into the prepaying special education tuition which they do every year so they're kind of you know looking at how that that'll settle out but you know they are looking to put some money in in in both of those things um and I mean you could obviously put it all in the special education Reserve fund and get nothing back to the town but I think they are looking to put somewhere between 50 and $75,000 return to free cash um and they reorganized well that is to say they re reelected Tom wise to be chair for a second term um and then Aaron Gaffin was not there and so they felt a little like maybe they shouldn't um re reelect her to Vice chair without actually checking with her so they postponed the the election of Vice chair to the next meeting and they did put 200,000 in that spent stabilization yeah so that's the bigger number right 200,000 to stabilization we knew that was going to happen well that's kind of the why they said it up that's why they said it up we expect them to and they've still got a bit of room before they hit their kind of Target 1% of toal spending all right so I attended the uh audit committee meeting for the rmld on June 5th just a couple of highlights the rmld has no debt just um the bond rating there is a doublea bond rating and they currently don't generate any electricity themselves they buy but they are looking to do that in the future so if they do that in the future things could change as far as taking on De so yeah they were inquiring about yeah yeah so don't they generate from the solar solar Choice one and two or they not I thought they paid you know bought that and and generate some that they said they don't they're not Genera for they custom there might be I don't know yeah into the the generation of power they Pur power from others um I think this primarily if they do generate any power it's a very small percentage I would guess it's not we signed up for solar to and I know they they took some lump some at the beginning yeah over you know over a couple months to build it out and I thought that was that they were actually building it as opposed to I think they're looking to be more larger scale generating their own power and that will cost them some money that's going to require some yeah and just like that's sorry but yeah did they talk to you Sharon because I sat it in the meeting too and they were talking about using the town's Bond meting potentially yeah because we have a triple they can't do that though they can't use the town Bond rating they said well they he Greg told me they can't or it'll be their own no no so they'd have to go to town meeting to use ours town meeting we have to approve um the the debt issuance but it would be paid from fees for in USIC fees from the RL not from tax dollars but they could borrow onto the towns they're owned by the town yeah so it's not going to happen in like the next year or so but it's coming he was saying that they they we would revisit it like he was thinking maybe of asking for the debt authorization in November but I don't think they'll be offering up any debt right away they just want to get it out of the way yeah it sound like mean I said to like rml not AUD it sound like they were worried about like the delay like going to town meeting for approval versus they have some other way do it through like some utility I don't know how else they would do it because I've never seen it done any other way I mean you would be the cheapest way to borrow so it would make no sense to go with you know using their own rating and borrowing without us um it would seem that they would get a better R using our rating so I'm thinking that's the way that they're going to go but I think there might be a way they could do it but I still think they still need a debt authorization just in general but I'm not sure okay it's just something that we should pay attention to going forward so things are changing it's something that just came up recently that it brought to my attention yeah that's awesome thank all right I guess I'm next is just we're going around the table um so um I'm just I'm clicking through S board agendas I'm not going to try to summarize all the things s board has done in the three months since we last met um uh but uh um I will so it's not an official appointment but since I'm the ex official representative on the CPA study committee I think that makes me the liaison so I report that the CPA study committee exists which of course it didn't when we last met um we've been meeting uh every other week for um three meetings so far we're meeting a lot at first because we don't really know what our time frame is um the uh uh Once Upon a Time uh there was a goal of actually getting a proposal to adopt the community preservation act in front of Voters in November and the committee's charge still reflects that I there's discussion of other Tim taes because that would be very aggressive um and uh um but yes we're actually getting a presentation from the community preservation Coalition at our next meeting on July 9th um I think that's probably a good uh s we this like we met just last night pile lists from representatives from conservation Recreation historical and housing and they each each of those Representatives came last night with lists of things that could potentially be funded out of CPA um think we have an outstanding item to go through old uh um uh town meeting warrants to find things that paid for out of free cash have been funded CPA that weren't on those lists but there are probably a few more just as a side note you had mentioned that you thought that the CPA would be with the debt exclusion and I did check into it and it would be exclusion was added I to you mention again yep so yes we see the uh amount is how much it would cost a residence is relatively in in a way easy to compute because it's you know your house value less $100,000 and and then 1% of the tax on the amount of that um or I say 1% 1% is the most common percent search charge that's been adopted recently but 1% is yes if the average real estate bill is $10,000 so 1% of that is easy to yes right or or 1% of that less the $100,000 it ends up being $88 is what I um want to take away $100,000 from the average house value of $845,000 so that probably went way up I mean to it'll yes it'll presumably go up you know in line with property taxes is every year so yes figuring out how to project that um actually want to reach out to you outside of this meeting about um getting contact from from uh Victor so I could get more information about I have it on my phone awesome okay awesome thank you I think that's it for me so is that going to is that going to get voted for next spring is that the time there are lots of possibilities I mean it's possible that it could be put in front of town meeting in November and be on the local election in April uh it's possible it could be in front of town meeting in April or November of 2025 and go in the local election 2026 it could potentially go in front of town meeting in the spring of 2026 and go in the November 2026 election is it definitely not going to be on the November 5th ballot nothing's definite I think what I heard Lara Jen say about that before was you would have to get something in on by August 1st uh September 6th actually but you either prior to uh what would have to happen before September 6th is either a special town meeting the mandatory waiting period in case someone wanted to um petition for a referendum uh or a petition uh with signatures from 5% of registered voters which would also obviously be a project that would take time yeah I thought that those would be very hard a if we're continuing in reports I kind of had to refresh myself select board but the one I guess um easy item to report on the select board was um water rates that they voted to raise Water by 3.75% and Sewer by 3% and there was quite a lot of discussion again about the tiered rates it wasn't a unanimous vote because one select board member didn't want to keep the tiered or wanted to change the tiers but I think they um might have mentioned um Matt and Sharon would have action items to see can our software be adapted to look into multi-unit buildings and it was mentioned that it would be a lot of work maybe you know some buildings are built to measure that others are not um so they they're keeping the tiar and it just the discussion kind of went paradoxically and what we can serve rates go up because we have fixed water charges so that was kind of their their big vote that they took I believe also someone correct me if I'm wrong that they're allow allowing swack to Sunset this month and they're kind of almost converting recal to a recal permanent building committee is that the way to put it y'll be it'll be a new committee with people from the permanent building committee plus probably some people from recal but yeah I don't recall I bring that up because I don't recall if they wanted someone fromom at that point like they had someone from have someone from on the kill school buing committee members it's it's a member of the select board and member of the Council on engent two temporary members that are joining the permanent voting committee and will become the whatever we want to call yeah it's not like kill killum involve fin you know adep Finance different yeah because because there was some State um some state regulations in the way right so I anyway I think we're not we're just y That's all I yeah Mark just remind me for the rml like they're meeting conflicts without meeting schedule unfortunately but um yeah I was just wonder to like SAR you'd be aware if they do go to to issue debt okay okay I think that their intent was to go to town meeting and ask for the debt authorization to use our rating from the last discussion I had with them but that doesn't mean haven't changed their mind and I don't know about it yet all right I'll try to find out because they mentioned some other source but I don't know yeah I'm not familiar with what the other might be I'll try I'll try to dig it out okay thanks uh yeah see so Rec I guess is planning on sun I don't know if they have if they have a specific date on that right now I can write down to me but it's not saying to be replaced by the uh building version of recal uh they're currently working on narrowing down their preferred SES and present to the S board I think they're waiting on the per building committee to get their inut and then we'll kind of have a sight I was betting man I think that it'll probably be Simon's way but I'm not a bet so don't hold me to that uh cpdc is kind of Full Speed Ahead on MTA communities uh there was a kind of public Hearing in beginning of June believe they presented seven or eight kind of concepts for how to comply and they're now working kind to narrow that down there's a couple more public meetings July 10th to July 31st to kind of go over more depth and more developed on those plans thanks John um so on my end I just had um just from K building committee um I wasn't able to go to the last meeting was uh on on on Monday um but um from I'm also on the sub committee for communications and the one you kind of um so a couple pieces one from from that side um we have engaged with um um you know kind of an outside vendor for lack of better term um that helps and that that has done in other communities kind of created educational videos um um and you know kind of different um that um you kind of describe the process from an msba perspective but then also kind of tailor it to your individual Community um we've uh seen some samples um of what they U what they've created for um other communities and I think they're going to be super impactful um to be able to help educate um you know the um uh the community on um everything from the needs and and then kind of going throughout the whole process um so we've engag them in uh but we haven't seen anything I don't think we've seen anything come back yet um we we've kind of just started that process um but I think it's um definitely kind of moving along and I think that'll be you know kind of um super humble and we'll have those kind of embedded on the on the website and um and Facebook page and and things of that nature as well um from a um full steam ahead um you kind of circling back to the over project um this is really um now with the design team um where they're now um they've come up with you know um initially you know kind of nine different um you know kind of uh um scenarios sort of like a better term design scenarios um some of them are related to you kind of a a rebuild or or you know kind of um an addition things of that nature um those are all kind requirements that we need for the msba that's been submitted um and um I think we're looking for like it's in August um where I think we'll have another kind of huge Benchmark so um we have another meeting in a couple weeks um and then for our next meeting I should have some more to be able to share with everybody can I of course watch actually watch watch it they gave they gave very AC the building actual cost but very similarly what they had the size of thear and they said they the largest building building the options are all coming in is before MBA they all million and they I think they were saying they were saying you know you that is Reb that's reimb when they wereing I think milliens expensive option and some some some of the system different system and C lead certified efficiency but clarification needs to come back cl% value they want and prek andbody num are there a story we shall see shall see yeah I think really and I think it's you know that that range I think it's still I mean fluid on both ends um you know because it's you know it's it's kind of putting you know a little bit of a finger in the A and um but I think as we get closer to August um we you know I think more information you know it'll start to crystallize a little bit more um you know as we start to kind of own in on um you know a lot of those same questions um you know and and there there's a there's a lot to unpack you know kind of even around you know some of those high points it's some of it is you know kind of like when you're thinking about heating systems and um uh and mechanical systems um some of it is you know there's definitely a kind of a you know um a reimbursement perspective to it but there's also you kind of looking at you know kind of uh the operational um you know kind of uh asp next to it um is there you know kind of longer term savings that kind of justifies it um so there yeah so I think there's a lot that you know that that that I mean it's it's obviously you know kind of U you know um you know that's the headline um and and and I think everyone should be you know kind of you know kind of in tune and educated on it we're going to have to you know kind of repeat it um and you know kind of educate folks you know kind of um continually up and through um you know kind of next spring um and I know there's a lot of folks that you know kind of are anxious to be able to see it it's just you know we're in the middle of the process um and you know I think we're you know we're kind of at this level and we'll start to you know we'll start to you know kind of hone in on it a little bit more um but there and and you know and I think Matt and Shar can kind of speak to this there's a lot of people like Joe's could weigh in you know kind of from uh um um from a operational perspective and how to maintain it and things that nature and you know what makes and some of these are pight dependent you know we might not be able some of these options we might not have available to us because the site's not conducive to it so um you you there I think there's a you kind of a lot to uh to unpack and um but you know but the good thing is is we're kind of methodically following um the process that you know um these aren't you know the uh the designer and the OPM they're not due to this and so um they have you kind of a lot of great expertise um they know exactly you know kind of what to do and how to do it um and we're the ones that are new to it you know not them um our projects New U so they're just you know kind of R fitting our needs um um our you know kind of um you know um requirements um and you know kind of try to you know kind of um coest all that together um and then you kind of get it through some different designs and you know through that process but um you know but I think we're in a really you kind of you know a beneficial uh perspective as it relates to msba um because you know there's been you know kind of um you know some adjustments that they you know they' kind of made over the last you know kind of 12 months that kind of puts us in a you position where we're not there's an opportunity where um you there's a little bit more reimbursement than some of the other that had happened um prior but you know again some of those things are and every one of these things I you mention it is sight dependent you know there's some things that are reversable some things that aren't um and every project has to kind of go through that and that's all things that we're going to have to communicate and I think you know um again some of these um other communication methods and videos and um testimonials that we'll do will all kind of you kind of go through all that piece of it so um you know I didn't I I I didn't purposely you know kind of GL over it it's just um I know that we have kind of August U more kind of circled as we we'll have you know we've already started to kind of um um you know kind of dwindle some of the options and and we will know more um and then we can you know we can do that and I think um you know kind of the segue to another piece of I know it's later on in the agenda but you know we might have another um you know kind of um you know kind of financial forum um around you know kind of projects around like after that August time frame maybe prior to our normal you know kind of operating uh Financial Forum um I think that's would just be another you kind of logical step um you know for us and um you know kind of in the series of things that you know kind of we've envisioned um to do uh to to kind of educate the public yeah you know just line with what I've seen just just recir was2 was9 million elementary school and I know was 97 million having these numbers come in and we're going to conru reur rates like that might I what they're describing comen yeah y 100% understand great um anything else um any other comments questions with uh okay we can move on to the the reason why we're all here I'm oh gosh if you know nothing else we're we're going to do this right everything that we do was L um so um so Shar I I know we have the reserve fund transfer you've given us some information um you prior to this and obviously there was some stuff in the packet but you just got to give us a little bit of an overview between you and Matt um and then um then we can move forward on that okay so as I will say we did have some into Lar I felt like the bottom botom not expected toess other to make and then the service so million for Auburn water tank that we were thinking we were going to use um arer funds for no was it arer funds yeah I think it was arer funds Ser funds and we didn't end up you know they changed their kind of what you could use it for they used to be more restricted and we had kind of ear marked $2 million for that and then we ended up changing our path so we had rolled we we temporarily borrowed and rolled it once and then it was going to be due in August of 2023 so it sat on the debt schedule it's August 2023 which would mean we'd have no debt payment in fiscal 24 but at the end of 2023 we had projects that we needed to borrow by June so we ended up borrowing early for it and I forgot to move it on the debt schedule so there wasn't a n de enough budget for Debt Service for water but water is bottom line and they have savings a lot of Savings in salaries they have Savings in other lines and I don't think we're going to need it but as a precaution I asked for a little extra money just to be sure um but this is due to an error that I made so I feel terrible because hopefully it doesn't end up causing any issue but there is a lot of savings within the water department I don't think they'll need it but since we had the other two B items I think could as a precaution ask for it just in case there's something I don't know but they have a lot of access there so I'm thinking we'll be fine no matter what what is what is b b means a um Bond anticipation note like so it's like it's a shortterm bar it's it most of our barns are long-term barwing so a ban is more of a shortterm baring less than a year usually I mean we ended up doing that twice while we were trying to figure out what to do with our Au funds because we had borrowed the original funds for the Auburn water tank at a really low industry but because we had ear Mark that is oh that's a use that we can use oper back when they had very stringent like list of things you could use it for to yeah town meeting so let's put let's try and put it to EXA that benefits everybody um and then when they expanded on what you could use it for and the oper committee you know chose to do different things with it then we ended up borrowing for it so but the timeline I had it on the schedule was to borrow in August and we ended up borrowing in June which gave me a debt payment 24 that I wasn't expecting to be there so live and learn we nobody is perfect I guess um and so that's what I'm asking for there so it's really mostly precaution I don't think we're going to need it and if it's not needed it all goes back to free cash like it would have if we didn't do the Reserve at all so um I just figure better safe than sorry we had this meeting scheduled might as well ask for it and make sure that we're in in good is um I don't know who ask the potholes is that all materials yes like no labor and it's just more all materials yeah cuz you still have some left yeah we have two PLS up most every day most of the winter okay even though it was a mild or winter yeah that's probably what cost it that's it bounced above and below freezing is that is that what costes if it stayed below freezing we wouldn't have been so bad were wor this year it was terrible and the latter repairs those are those I'm assuming on the old truck we don't have the new truck trucking to Mal we get I don't know I don't know the plans we're hoping to do that I mean we have we buy the next one but I never know what busted we think we can we can have another Community take it so do we have you know I know that we got like another vacuum truck is there like a plan on vehicles like now there's three of them they going to be three like are we selling any of them or is there is there like a master plan yeah we would Surplus the older backrack once the new one came in and what happens with it is it the the proceeds go to the but how's it so like is there like a list of equipment and what the anticipated like where does that come back in through the budget so we come in as a revenue a game sale of assets yeah and and we usually is it what is the name of that website dealss a lot of it's done online nowadays so they description all that and they take bids online for it it used to be everything would be a sealed B that come in the mail and we'd open it like a lot more Stu used to be so so like one or two of going on that yeah one one would so we so we still retain two back trucks just Surplus the the only one wants to do they hold their value pretty good or I guess so I'm really not sure some cases with vehicles depending on I mean sometimes they'll trade them in when they're making the new purchase so there's various ways they might dispose of it so who who is in charge of all of that the vehicles like is there somebody who's got a master plan with them and well they they're all like in my fixed asset program with their vehicle ID numbers but when it comes to disposition like it's kind of part procurement process so um Jane rman has been doing that since Alison left and now I'm not sure her position's open now so she's still doing it until her older position is fil so it's kind of part of the procurement process the procurement person is always looking to get get the bids and quotes to make sure that we pay the least amount possible for what we need to buy and then gets the most for what we're going to sell in terms of a disposition like that so we keep track of it in various ways like I have all of the fixed asset software but she's really making sure that we abide by um the procurement law regarding Surplus property and what we do and how you have to follow process yeah does the select board vote to declare things to I know the school Community does it used to be that we'd have to go town meeting first out over has we changed that about four years ago which is nice because it was you know a lot to wait you have to wait to go to it makes it a little bit more difficult discussion on this the memo was from Matt I thought it was Matt's mistake my mistake the M says it's taking the bullet for that yeah taking the buet happen again good I respect that got keep you got keep her get it this is Battle test I know um perfect um if we uh know the discussion then I'll um accept a motion on on this transfer so I can take a swing at it so it's I think I believe what we're looking for is a move to approve the uh proposed request for uh finance committee uh fiscal year 24 Reserve fund transfer um in the amount of $70,000 as present to the committee second thanks um all right we'll go to vote I have everyone listed here I'll go through roll call um Jo yes MD yes Mark yes Maran yes yes John yes yes that's 7 so now a fincom chair approval needs to be a signature can Joe sign for you or do you want me to send it to you yeah I I mean I'll be back tomorrow um so I I can run into town hall and sign it so I I should be able to do it unless you need it tonight no I don't need it tonight as long as you guys vote tonight Matt has to sign I don't I'll just I'll it or or if there's one town I can sign yeah however you want to do it I can always get M to sign it so you want to sign it first you can sign it first can sign it after no problem yep that sounds good I'll do that tomorrow thank you cool um excellent um and so next agenda of preliminary um uh f125 um um meetings um so the next one that we have is the 17th of July um and then um and then we have two kind of me one one place over in July one place over for August um again I talked about a little bit earlier um we might want to do you know kind of I don't know if it's we call these Financial forms but like you know do something you know kind of uh building related you know kind of update similar to what we did um in May um you know before you know kind of end of August um beginning of September you know kind of um around that you know around that time frame I I'll I'll you know kind of out pull um uh you know the folks that U presented um at last meeting just to be able to see if they have EXC me recommendations for a good you kind of timing you know I think all of them you know and if they have something present great if they don't that's fine too but if there is something you kind and I think there will be respect to Kil um um which you know kind of a little bit lighter of an agenda but um but if there's something kind of pertinent to share that FR one of them or a combination of them then we'll you try to Circle a date in there um just circling back to the July meeting um I think it's probably um good um to be able to keep that one on there you need to reorganize um that being kind of a good time to be able to do that um um and um I'll stop there and then kind of two questions through the committee first one any kind of questions on the draft meeting schedule and then second um and because it was part of the the agenda um if there are you kind of other meeting um meeting agenda items uh that folks want to uh to raise I don't know if you can see raised hands but I just raised my hand yeah guys okay so are we on RCV oh we are on RCV that's how we got reminded that we were having the meeting um so uh both people watching heard you ad um what I was sorry I apologize to any of the children listening at all you're trying to put kids to sleep you know anyway all right um sorry uh what I was going to say was okay so I'm trying to remember the details and I'm failing but I know that we talked last fall about being interested in some presentations on some topics and I'm wondering if people remember what that was what they were I'd have to go back and look at the minutes and I did not did not do my homework to uh I knew there were several like one may actually been um rmld I think I recall that being presentation to that um you know just related to that I know the select board is now having a meeting with rctv because you had given us like a summary like they're kind of in trouble not in trouble you know but people aren't subscribing to cable anymore with their finances and and their agreement is coming up again so we may maybe we noted um I think it expires in early 25 will comeing up again it's relative but to the extent that the PID money comes to the town we never really pay attention to what is the finance committee what is money I don't know if if they needed more to function I'm not sure who's you know do they need to do fundraising like is it up to us to fild that Gap they're I don't know what they are they're a nonprofit but I guess some other communities like to experience is one that I've looked up they run their own um cable television thing or whether they you know and we Outsource it and I don't know if to be able to keep going they need more than just the peg money or what I don't I don't know that we want to insource it yeah or make them ATT so I don't know if fincom come comes in on that as a presentation of something but so I think there supposed to be sorry no I just saying I know it's a select board topic so maybe we see where they go with it aren't the contracts for like Verizon and Comcast coming up because we negotiate more Capital Money not I wouldn't say coming up very soon but they one of them was for 5 years one for 10 years is 10 years concast is 10 years Verizon was 5 years so Verizon will come back again before concast com but rctv is it's is coming up yeah that's next year we have a we have a brief which one was coming up so it must be just the rctv right that's the only both those contracts Comcast and Verizon they have been paying a certain amount for Capital yeah their licenses and then it goes away and we're at the point on both contracts where there is no Capital money coming for rctv just the normal franchise right CU they get the capital money up they yeah they fronted the capital so Ian it is one of those areas where the revenue seems to be going down few people are you know subscribing to cable and so it is something to consider yeah the thing is I've seen the agreement and we only are they're only obligated to cover certain meetings that they cover all the meetings so they're doing more than what their agreement is maybe yeah I think so I think we we broadened it the last time but they they I think they do cover still more than what have so they they may you know I can't speak to what I would do if I were their attorney but I would say you know hey we if you want us to cover more we need more because maybe they are using more resources or maybe it's trivial I don't know but y I mean certainly you know person in that room salary right to come and do these things more different places you have somebody sit I mean then there was you know an interest in what was the library board they were saying hey why isn't this on RC TV they like well cuz it's going to cost some money so is that was that really it definitely don't cover every meeting the a commit is never onv like some of the boards right I know there's key there's key ones you know zoning climate like this but the contract only really had finance committee selector school committee and maybe cpdc it wasn't very many the bigger on I don't know if that was a toer we could something we could definely something to think it's deining we need them to be covering even those bases yet does become a new budget line item one I don't know much about it but it looks like there is a a law that's been proposed to put a 5% um tax on all streaming services they they were going after the stream I heard that know you know because there's a Lobby against it I'm sure depending on it right now it would be nice if it did pass it would be nice for RCT it would mean that we' have more coming way yeah you know speaking of was there a projection and you know with the Board of Health just passing the no tobacco sales to people after a certain date we don't know how many are being sold to youth do they project any loss in tobacco revenue or or do we get any taxes from convenience stores selling tobacco [Music] know charge 6.2% tax and and the breing they'll charge you 7% and the difference comes back to us in breing so there's next like that but I don't think there's anything related to yeah I didn't know if it impacted the like the Vue that convenient stores or whatever get impacts the rate of taxes that they are assessed well there could be something to that like they do have to put um they have to report to the assessor you know what their earnings are what their personal priority there could be something to that piece but as far as like directly to Tobacco no no it would probably be more significant if we went down to zero for everybody like say we became tobacco free then that might be yeah I'm sure businesses will change as they I mean part where it will have a growing gradual effect over time is one of the better things in terms of because it will give people a chance to adjust and Jackie I'll just ask that you fix the typo in September Jack thank you you take up on all of the things you picked up that I put I was m do we have any topics in mind oh sorry that was zo agenda suggestions I was just going to ask if we had any topics in mind for the First Financial Forum apart from the building stuff or whether that's likely to be the building one um because if we don't have anything else to discuss the vers Financial Forum then obviously that's what we would talk about usually the second one is when we have a free cash discussion well we know we vote in between on recommendations guides for the budget so actually you might be right Jeffrey uh October 9th vote on recommendations guidance for fy2 24 budget oh that would be FY 25 uh well yes okay so there's some copying and pasting going on but yes wait FY yes so we Wen going to have a future topic about override spending in your spreadsheets and how the money is extending I hate to bring up that word but was that ever going to be a future topic or see how see what our projections are for how long we can make keep making the last one last go ahead the one thing I can say is that um preliminarily looking at R FAL 24 we've got a lot of regeneration coming oh that's good because of Interest earnings I think we're we' still got three months for interest more than2 million generation just interest so I think we might still be I'm hoping will still very steady to that 199 go up I'm hoping it's too early to say so I feel like every year that we're able to regenerate what we what we've spent is another year we can probably push out it's it really should be gone by now B done with the it's important because if you haven't heard like you heard like overrides failed and those were big overrides and so that might be indicative of the appetite of people that we want you kill them certainly should be probably having a conversation it's so hard to say because every year we tend to use a certain amount of free cash and we tend to regenerate either about the same amount or not and so it's almost as if we didn't use it at all and so to project out how long it will really last like I always do a conservative projection and I'm always wrong always regenerate more um your always turn over conservative so not to give people's expectations of it at the same time like we do we're very fortunate in a lot of areas because of our conservative budget style but who knows when it turns on you you know we could go the other way interest rates would go down by now still we can you know um it's it's tough um you know kind of from the Regeneration the revenue perspective but I do think an area that we can you know kind of have some discussion is on you know kind of on the cost side um whether it's from a staffing perspective or um from a you know um you know some of the other kind of costs um you know adding staff adding um you know whether it's from the schools or within um you know replacing staff or you know you whether it's adding uh firefighters our officers um you know things of that nature I think are you kind of important because I think that's the other side of you kind of when you when you present um you kind of coming at it from an operational override perspective obviously we're looking at it from you know kind of the revenue but um there's inevitably um as you get that you would have to talk about cuts um and so I think that's you know that that may be the other you know kind of um you know side of it that that we need to um have some discussion on just so that you know we know where you know kind of we're heading again Shar you said it you kind of repeatedly probably have to keep on you know kind of Bing the table we're already you know kind of just about past where we thought we would be when we when we did this with with Bob um when the override pass so you know um which is um and and and we should still continue to be able to talk about that but you know so many things change over time um and um and we've had some you kind of significant things that um have happened and are going to continue to happen um that we just need to make sure that we you know that we share because it's you know those are all points to you know what would you know kind of justify um an override or you know kind of to uh Varan Point um if one doesn't pass with the repercussions because I think that's the other side of it too there's a connection I'm not sure if you're trying to make this connection but um it does seem like uh a conservative projection about overrides in particular one that's good news despite being conservative um would be good to have on hand for discussions about the building projects because people people want to know when the next tax raise is before voting on the current one and maybe ours would not be asot you know North Reading was going for 10 and was going for 7.7 we were four and a half in 2018 and if we got to something maybe it wouldn't be that number the one that failed and and then you know I think Bob had said at that time probably have to just ask frequently like he was looking to get more years out of it ask pmic kind of reset things with you know expenses we didn't have to make and the hard money but the revenues are looking very positive that's good I hate to bring it up nobody want but what I'm seeing happening around us is the con it will get asked just like No And and I don't think we need to you know raising it doesn't you relate to advocacy I think it's you know I really think it's it's our job we're being good stewards by by raising um um and even if we do raise it there's still going to be people that say why didn't you tell you know I mean inevitably that we're never going to be perfect but I think you know the kind of strive for more transparency and um and obviously everyone's all you know from um Matt and Shar and staff they're obviously always you know kind of thinking in that light um but um you know it's good to be able to be you know kind of uh um uh you know an Avenue to be able to kind of you kind of share that information so I think it's you know it is you know it is you it's not the greatest subject um to you don't want to lead with it but I do think it's it's something where um you know it is but it's inevitable you know at some point in time and luckily we're not there yet um and you know and I think that's you know that that's part of the messaging is you know here's where we are now but you know things can change um and I think that may be one thing to Shar I think you're just going to hit on it you know you know you know and I don't know how you go about doing this and and you know you know if there certain lines of demarcation and you start to see like you know and and where you start to like you know we're now kind of hitting the Zone um or a place where we need to start to to you know to look at it and then would be interesting to to to the point of uh amounts um you know you know and and you know kind of what you know what we would what you would project and you know to the to the when you start to do that scenario planning I think that would be interesting to know like when and the house and the whats around that I think that would very interesting for folks to be able to to understand it's very similar you know in a lot of ways to how you explain the last you know kind of financial Forum quotation figures um um about how we go about debt servicing I think that's I mean no offense to you know to anyone else that talked about the projects but I I I I thoroughly enjoyed um you know your presentation because I thought it it just kind of pulled the veil back a little bit as far as Works um and I think something along those lines would also be very helpful as it relates to things we look at over so let me ask this so do you remember when we were talking about free cash use and I gave you my free cash schedule and I showed you like different levels of free cash use each year and when we would fall below our 10% or 7% or whatever like 2028 that might be a good point to where that line might be but like I said every year we come out better every year that we come out better than I expect it pushes that timeline out further and so buying us more time which is wonderful um but it would give at least an idea like you say well you know based on our financial forecast and let's say we want to do a 3% operating budget every year um how much free cash would it be each year and and we would that put us if we don't regenerate you know more than $25 million dollar take you know what I mean schedule is really good and and probably the Assumption that's not on there is the interest rate and then we're also going to have you know if if free cash stays at that 19 million and we spend 2 million towards kill them that could get reimbursed so that'll be a bump somewhere so we are the schedule is really good to look at cuz it is just it's going to keep moving it out a bit because we're at this higher level of pre catch that I haven't seen in a long time you know actually long time I've been here you've got a higher level supporting the operating budget so each year you've got to add to that to be able to increase the operating budget you got to at least use that much the next year plus something more to actually keep it in Balance So based on where we're at maybe like let's say a 3% or 2.75% operating budget each year what what would that free cash look each year and plug those numbers in and see when we start to call below and then I've always done like a $2.5 million regeneration which is a conservative number the entire 12 years I've been here there's been more than $3 million regeneration the entire time but we're hitting really hard times but still feel like a two and a half is still a conservative number so if I if I put that in there and just see where it brings us and I keep updating it and it'll keep giving us an update of where we're going to be we could do that because I felt like I gave that spreadsheet to you guys in Excel and you could plug things in to help yourself to figure out here's where I'm comfortable with free cash you know and plug in the numbers each year how you felt comfortable and get to where your decision is I think that spreadsheet might even be helpful to be in bubbling to say this is where we start to fall below the reserve level that's required of us byc I mean one unknown factor you know so we talked about killum and I've heard people speak and I've thought it out because I've seen what other groups are doing regarding the intergenerational senior center and they you know they've had a number of around 27 million which may or may not be final and people may want people may be sitting back and saying how do we do both projects within a similar amount of time without taking on too much debt and one thing like Wilmington did with a less expensive Senior Center that they're now building it's more closer to 19 million was they took some of their free cash and then they were paying the rest in the levy and I'm not saying we would do that but if we if somehow our senior center were scaled to a I don't know didn't put the gym in and we made it a little smaller as a way to do both projects if people couldn't stomach whatever a kilum debt is plus a um a senior I keep calling it Senior Center intergenerational Center debt but they wanted both of them is there another way to structure that because that's what I saw what Wilmington did and I'm not advocating but we like say you took 10 million out of free cash and did the rest in the lby and now it's not a new debt yeah but I feel like the way we're structured with so much right now would be override the next year really wouldn't want to do that the other thing is the mindset a lot of people are having is okay let's say you know Kill cost x amount and 30% comes back to us from msba it's almost like doing the full cost of killum does both projects the reimbursement from msba pays for the other building if we could sell what I've heard a lot we could sell the old sen Center I suppose or way that we could I I mean I've heard a lot of people ask things about like maybe putting aside some kind of money for a stabilization fund that we could draw for some of the debt service so it's not all completely there's all different ways you can structure it and as we get closer and know more numbers you know we could use our bonding agent to kind of work out some different scenario it's hard to do both right at the same time but maybe if there was some spacing I don't know it's you know how we would structure it there's all kinds of ways to do it but the good thing that we have going for us is we have very low debt for a down of our size so right so we could take this on the last major things getting paid off this year yeah there there is no excluded debt after next year so we'll be in a good spot to take some on because we don't have anything being added to the ly added on top of the L so but we have like if you look at all the Lev though we still have the depth service for all the trucks and all the capital stuff right so most of the stuff we do within the operating budget and we don't borrow for so we do have I think across the whole town with all excluded debt right now I think we've got like $38 million of debt between water sewer and the townside so that's not a lot um and probably a lot of it on the water and Sude for in infrastructure Stu love this Bor at 0% because we get it through the MW so we that would be including everything like 38 or 32 million it's a small number for but the excluded debt piece we you know where we're added to somebody's tax bill is going away next year because we we really have been thoughtful about not asking for excluded debt a lot you know that that's not something we do and we don't borrow for a lot of things we we tend to try and do a lot within our operating budget by that 5% of debt Capital between those numbers we get it done but there's no but there's no reason like if we hit really hard times we couldn't look at doing two or 3% we don't necessar have to do the 5% correct you you could you could but then I mean it's just another level it causes other problems like your maintenance cost goes up I feel like that number has worked well for us the 5% maybe you can take it down a little I wouldn't go down to two or 3% but maybe you you could probably save something here and there but we do a lot within the levy which is I think because we don't borrow for ladder trucks which most you know ladder Trucking cost a million dollars and we're managing to do it within the L times so I I don't remember the last time I saw anything like that borrow Bo so we don't ask for debt lightly we we don't ask for I mean we did if I remember correctly like was it barrows and wood end were done at least partially within the levy I think I think the bars within the L yeah what I have for wooden and high school just got paid off this year and barels got paid off this year but I think there was a portion that bars but wasn't their criticism though that was so much it you know it limited the school we did what I'm saying is so we did this you know tried to build some big projects inside the levy and it really pred Us in other ways that were like that was why we didn't want to do it we need to remember that we did that we tried it and we found that that was a bad idea depends on how how big it is I guess like what's what's the amount that we can manage I mean the policy from inome think says five anything over 5 million I think we entertain it even over 3 million it's really hard to fit larger debts inside the ly like that just it's really hard because you're going to have to give up other other deferring a ton of other it means that our Capital will be impacted that we're doing without B and we were lucky to be able to not like one of the reasons I think North ring was hitting it override what I've heard is that you know they they were trying to give their say their school staff the same percentage of raises that we did but they couldn't fit it within their existing we found a way to improve you know the salaries of our bargaining units without having to do that but and Melrose is the same thing Mars is a very low tax rate like and they don't pay their staff much they can only go I think their tax rate's like I don't know n something n960 per thousand or something like that it's very low and their teachers were always like the average lower bottom 10 in the state average salary so so we if okay we with all of our agreements we just signed and we continue to pay for them so that's probably keep us in good shape items that folks wanted to be able to share so just on the calendar it seems like we sometimes get caught up at enough time before the town meeting in the fall and I'm not sure if we're hitting that cuz it it looks like you know we're having we're voting before the this the uh second Financial Forum does it have to be a month before or something I thought it was like two weeks do you know Matt what it is so we want to close the warrant the warrant report can have yeah it's got to be like two it says October I vote on the articles I think that's what enough but I'm not sure if we do that before the second finan form which might really be the first if if the one I close the warrant with the select board I think I have to do it by September 24th and then we get it after that get it after that Mark are you thinking of a schedule where we get we could close it after the financial Forum or no that's where we get both Financial where we get a second Financial Forum in before we vote on the warrant yeah I thought that's what happens you should that didn't happen this year but that is this a financial form at the end of August 20 year I remember we had one August 31st yeah I think we did like right was it's always like right before the first day of school or something so this is a later Financial Forum we definitely had them like around um the October is the second line of we might have had an extra one one year where we did one in August and sometime in mid September you know why we had the August one is because we were going to have the special town meeting early that year for water tower money and the lot five remember we had the early two meting the special one the special within so that's why we I think just if we could look just to make sure those dates all work yeah that makes sense I'm not sure would be left for financial Forum too if we discuss free cash projections use of free cash kill them recal it's a pretty full sleep for One Financial Forum that start to sound like two Financial forums already maybe we talk to recal about that no I mean like between Financial Forum one and financial Forum two so we think kum's on a timeline more than Rec goes the financial for when are we thinking that's one's devoted to the building well because we were talking about doing a financial Forum in you know the August early September time frame because that's when we would have better numbers for the building projects or at least kill them and so that's outside of this then I I don't it is if we put it outside of this I think you know um this is a good discussion because there's a you know there are some topics that we can you know some things are calendar dependent um you know as far as you know guidance and things of that nature or you know you a little bit more you kind of fall in the same kind of you know meeting time frame but some of these other ones you know you know that you know September 18th meeting you know could be the could only be the um you know Capital project thing you know I mean maybe that's the right time to be able to do it maybe there's another time um but I think you know we'll probably do more of that stuff we may not need three uniforms maybe there are two and um you know one's operating um and one's you know kind of capital um um you know there maybe some things where you know we've had special you kind of folks come in um you know and talk and you know kind of presented you know and we could probably add those to rather than creating a third meeting I'm still and we have of course we'll have a couple meetings to play with the timeline but yeah I am wondering about the timeline for the two Financial forums and if they should we have two but they're both earlier potentially July what if we September keep it I think reest would be like for you know folks that can make July 17th know I say summer but um you know if we can have an idea as far as how your August and se you know early September look um you know in case we have to kind of um B around a few dates so that would probably be my ask on you know kind after this discussion is just you know things what find out what things are going to be in and out of you know scope um you know and obviously keeping you know School in mind and you everything else that's out there I'm just looking at Wednesdays in July the 10th is uh slotted for one of the NBT communities hearings which is probably why we're slotted for the 17th and then if the 31st is also for Wednesday if that's the other meeting that's the other one yeah so we wouldn't I wouldn't want to conflict with either of those I imagine T may be pushed for the community oh they look to get more time and maybe just take up things on the 31st and maybe had an extra meeting in August but what are we hoping to do on the July meeting is the reorganizing the board maybe in our presentation what else what were we hoping to be on that if there's stuff for me I want to make sure I have totally fair I think RoR was the only thing that was else we can other topics we talked about think for July Jackie can you scroll down to show the 2025 meetings okay thanks so um we didn't have any minutes that were in the in the packet thank youie perfect perf my that there were minutes so we'll have to do two sets of minutes in July we can handle cool any other you know kind of discussion points um to the committee um just really quickly on the schedule are we saying we're moving it to the 10th I mean no I I oh no I was saying I was saying that was cuz there was someone was someone was saying something about flexibility and and I was saying well we can't we wouldn't want to the 10th is off the table so the 17th is the earliest possible um I mean I can't do the 17th but I don't know oh okay should we be talking if we know that several us can't do the 17th should we be talking about the 23rd or 24th 24th right now or the 10th of this the 10th death now so right now well that's true if the 10th is if the NBT Community thing isn't on the 10th then that's frees up a bunch of people's calendars but 10th is all right with me 24th is a better 1 how is the 24th for is the 24th a pro is it is it bad for anyone it's all right with me works for me too it's better for me all right that that wasn't a vote but that was awfully close to the an us John I think he said that was good for him [Music] too I could go I'm fine with both days myself all right but yeah but if if Joe and Mark that's a problem then that's a good point we do have two people who are not here but on the other hand we've already got at least two people who can't do the 17th so hopefully he's not back until I think he's back he back for either the 17 the 24th I know he he's traveling internationally but I think he's back on the E so um and yeah and I don't know about that so spret we're good we're locked in so moved second yes yes Mar yes yes Jeffrey yes John yes and yes 7 we thanks everybody for accomodating that