May 9, 2019 Finance Committee Meeting Minutes

WINDHAM SOLID WASTE MANAGEMENT DISTRICT (WSWMD)

BRATTLEBORO, VERMONT

FINANCE COMMITTEE MEETING

MINUTES OF MAY 9, 2019

COMMITTEE MEMBERS PRESENT: Merrill Mundell, Chair, Wilmington; Patrick Moreland, Brattleboro; James Damato, Readsboro; and Russ Hodgkins, Westminster

COMMITTEE MEMBERS ABSENT: None.

WSWMD STAFF PRESENT: Bob Spencer, Executive Director; Minnie Boadu-Bennett, District Clerk

OTHERS PRESENT: Michelle Cherrier, Dummerston

Mr. Mundell called meeting to order at 6:03 PM

  1. Changes and/or Additions to Agenda: None.
  2. Finance Committee Reorganization:

Mr. Damato moved Mr. Mundell be elected to chair the Finance Committee, Mr. Hodgkins seconded, and Mr. Mundell was re-elected unanimously.

  1. Approval of Minutes— January 10, 2019:

Mr. Damato moved to approve the minutes as presented. Mr. Moreland seconded, and the motion passed. Mr. Hodgkins abstained.

  1. Approval of Check Register— April 2019:

Mr. Damato moved to recommend the Board of Supervisors approve the Check Register as submitted, Mr. Hodgkins seconded, and the motion passed.

  1. Approval of Financial Report— April 2019: The committee discussed areas for reducing expenses before fiscal year end and Mr. Spencer offered his predictions for various expenses to come in under budget. The committee also discussed budgeting methods for HRA expenses.

Mr. Hodgkins moved to approve the financial report as presented, Mr. Moreland seconded, and the motion passed.

  1. Consider Financing Options for Payment on Trommel Screen: Mr. Spencer presented the following financing options for payments on the trommel Screen: a leasing agreement, a bank loan, and the option to borrow internally from the post-closure account. The total purchase cost of the screen was $16,850. The district will be credited for 2 months of rental payments ($18620), and considering the DEC grant ($59,960) the budgeted capital expenditures for FY 20 ($15,508), w leaves $74.432 to be financed.

Mr. Damato moved the district borrow internally for a four-year period to cover the uncovered expenses of the trommel screen. Mr. Hodgkins seconded, and the motion passed.

Mr. Spencer will research any necessary control steps for this process.

  1. Yearly Discussion of District Fees as Required by the Charter: The committee opted to defer this discussion to the next meeting, prior to which district staff will prepare a fee schedule with recommendations for the committee.
  2. Discussion of Recycling Markets: The committee discussed current public perception of recycling and recycling markets, as well as any potential exposure for the district should the state reduce recycling mandates. Mr. Spencer noted advancements in domestic processing as businesses see new opportunities.
  3. Executive Session (if needed): None.
  4. Other Business as Legally Allowed: None
  5. Next Meeting: June 13, 2018
  6. Adjournment: Meeting adjourned at 6:59pm

Minnie Boadu-Bennett, District Clerk