Finance Committee Minutes 8/13/2020

| Finance Committee Meeting Notices, Agendas & Minutes

WINDHAM SOLID WASTE MANAGEMENT DISTRICT (WSWMD)

BRATTLEBORO, VERMONT

FINANCE COMMITTEE MEETING

                                                            VIA ZOOM

APPROVED MINUTES OF August 13, 2020

COMMITTEE MEMBERS PRESENT: Merrill Mundell, Chair, Wilmington; Patrick Moreland, BrattleboroWestminster; Michelle Cherrier, Dummerston

 

COMMITTEE MEMBERS ABSENT: James Damato, Readsboro; and Russ Hodgkins,  Westminster.

WSWMD STAFF PRESENT: Bob Spencer, Executive Director; Vicki Hayes, Office Manager/Bookkeeper, Athena Lee Bradley, Programs Manager.

 

OTHERS PRESENT: None

Mr. Mundell called meeting to order at 6:25 P.M.

  1. Changes and/or Additions to Agenda: None

 

  1. Approval of Minutes of June 11, 2020: A motion to accept the minutes of June 11, 2020 was made by Patrick and seconded by Michelle.  Motion carried.

 

  1. Approval of Check Registers- June 2020 and July 2020: Check Register was discussed, Patrick asked for clarification on the Payroll entries.  Bob pointed out the Staples bill in July included a cost of printing for Vernon, for which the District has been reimbursed. Also discussed the Sanborn Head expense for consolidating the stormwater testing, which should save money in the long run.

A motion was made to recommend approval of the Check Registers of June and July 2020 to the Board of Supervisors, by Patrick, seconded by Michelle  and carried.

 

  1. Approval of Financial Statement- June 2020: Since the highlights of June financials went out under separate cover, we have included them here and no further discussion was needed.

 

TO: BOARD OF SUPERVISORS

FROM: MICHELLE CHERRIER, CHAIR

DATE: JULY 15, 2020

RE: SUMMARY OF FINANCIAL STATEMENTS FOR THE TWELVE MONTHS ENDING JUNE 30, 2020

Considering we are not meeting in July, and our next BOS meeting is almost a month away on August 13, I thought you might like to review our FY 2020 year-end financial statement, which is attached. Vicki prepared the statements, and Bob and I reviewed it. The following are the major highlights.

  • We finished the year with a budget surplus of almost $55,000, with total revenues of $1,127,753 off-setting total expenses of $1,025,025.
  • The transfer station has remained in full operation during the COVID-19 pandemic, and a comparison of the six-months from January – June 2019, and 2020, documented $49,000 more revenue in 2020.
  • The largest source of revenue, $366,850, are tipping fees charged for trash, C&D, and food waste.
  • We sold approximately 2,000 access stickers and day passes for revenue of about $95,000.
  • The lease payments for the solar array totaled $111,145, plus $57,000 for our 50/50 share of the solar renewable energy credits (RECs).
  • Grant revenue of about $100,00 for the trommel screen purchase and annual SWIP grant.
  • Compost sales were about $61,000, most of that in April, May, and June of this spring.
  • We had a net gain of $6,904 from sales of MRF equipment.
  • The $48,461 capital equipment expenditure is primarily our payments on the trommel screen.
  • The higher expenditures for salaries and benefits is due to a combination of higher health reimbursement account expenses, and increased hours worked by Bob starting in March due to increased amount of business at WSWMD, including compost sales.
  • The higher expenses for household hazardous waste collection were due to higher disposal costs.

 

A motion was made to recommend approval of the Financial Statement of June 2020 to the Board of Supervisors, by Patrick and seconded by Michelle.  Motion was carried.

 

Discussion was had on the July Results.  Vicki went over the highlights.  Further discussion on how to handle the FY 20 surplus on the Financials was discussed.  It was agreed to resolve the use of the surplus at an Executive Board Meeting and then Vicki can revise the financials to reflect the decisions.  Approval of the July financials was tabled until the September meeting.

 

Bob mentioned that the Audit was completed last week.  They were only here for two days.  Vicki’s organization and preparation was complemented by the auditors and Bob and Michelle.

 

  1. Discuss Capital Plan: A variation of the spreadsheet format was discussed.  Vicki agreed to set up a second version for the next meeting.  Also discussed was the idea of planning with new equipment costs versus used.
  2. Discuss Purchase of Used Mixer: Bob discussed the availability of a used mixer at Chittenden Solid Waste District.  He will continue to research this item for consideration at a later date.
  3. Discuss FY 20 Surplus: A decision on how to handle the FY 20 Surplus was discussed. Vicki will research the minutes to verify that a previous decision was not made and voted.

The Executive Board will take this up at a meeting to be held Wednesday August 19,2020 at 5:00 P.M.via Zoom.

  1. Update on Rich Earth Lease: A new lease has not been drafted as of this date.  Bob and Michelle will follow up on this.

 

  1. Executive Session: None

 

  1. Next Meeting: September 10, 2020 @ 6 PM. Via Zoom

 

  1. Other Business as Legally Allowed: None

 

  1. Meeting was adjourned at 7:00 P.M.

 

 

Minutes by Vicki Hayes

District Clerk