WINDHAM SOLID WASTE MANAGEMENT DISTRICT (WSWMD)

BRATTLEBORO, VERMONT

FINANCE COMMITTEE MINUTES OF AUSGUST 17, 2017

COMMITTEE MEMBERS PRESENT: Merrill Mundell, Chair, Wilmington; Cheryl Franklin, Guilford; Tim Franklin, Vernon; Jan Ameen, Westminster.

COMMITTEE MEMBERS ABSENT: Tony Gordon, Marlboro; Jim Damato, Readsboro.

WSWMD STAFF PRESENT: Bob Spencer, Executive Director; Vicki Hayes, Admin/Bookkeeper.

OTHERS PRESENT: Gig Zboray, Whitingham.

Mr. Mundell called to Meeting order at 5:37 p.m.

1) Changes and/or Additions to Agenda: Add Whitingham Exit as 8A

2) Approval of Minutes from 6/8/17: Motion made, seconded, and carried to approve the Minutes of June 8, 2017.

3) Review of June and July 2017 Check Register: Items were approved at the Board of Supervisors meeting on August 10th, no further discussion.

4) Review of June and July 2017 Financials: The Finance Committee reviewed and discussed the Financial Statements. Ms Hayes reviewed July at line level detail to discuss changes and budget differences from prior fiscal year. A new recap page was presented removing the impact of the MRF closing to the financials. This showed the District ending the month with a $50,167 surplus. Future revenue streams were discussed.

5) Summary of MRF Closure Costs: There was a discussion regarding various expenses for the MRF closure to date and future expected costs.

6) Loan Repayment Status: Ms. Hayes explained that so far $30,000 has been set aside for the repayment due in March. There was discussion regarding future sources of repayment. Also discussed was the possibility of early pay off.

7) FY 2017 Audit Update: Mr. Spencer and Ms Hayes discussed various items that came up in the audit. Overall it appears that no issues were uncovered.

8) Discuss Winhall Exit Costs: There was discussion regarding the different categories that could be charged to Winhall. A reasonableness test was used.

A motion was made, seconded and carried to recommend to the Board of Supervisors to allocate, based on population, the MRF closing costs, Loan & Interest repayment, six months of the calendar year 2017 Workman’s Comp, and the cash used from the Post Closure Costs to cover operation as of 6/30/17.

8a) Discuss Whitingham Withdrawal: There was discussion regarding the certified letter received from Whitingham stating their intent to withdraw from the district. There was additional discussion regarding the ability to give Whitingham some idea of the cost to withdraw. It was decided that categories would be more realistic and that final numbers would not be available until the end of the fiscal year.

A motion was made, seconded and carried to recommend to the Board of Supervisors to allocate, based on population, six months of the calendar year 2018 Workman’s Comp, and the cash used from the Post Closure Costs to cover operation as of 6/30/18.

9) Solar Project Update: Mr. Spencer gave the committee an update on the status. Due to a delay by Green Mountain Power in purchasing equipment required for upgrades to the substation, the project will not start generating electricity until spring 2018, and therefore lease payments will be delayed a quarter.

10) Sale of MRF Equipment and New Equipment Needs: Mr. Spencer explained that he has some offers on the table for some of the equipment. A listing will be provided at the September meeting.

11) Discuss FY 19 Budget Plans: Ms. Hayes explained that this is a transition year and we need to take a hard look at all the categories with an eye to future plans. More discussion to be had at the September meeting.

12) Executive Session: None

9) Next Finance Committee Meeting: September 14th @ 5:30 PM

10) Other Business as Legally Allowed: None.

11) Adjournment: Meeting was adjourned @ 7:22 PM

Vicki Hayes

Admin/Bookkeeper