Finance Committee Minutes of September 12, 2019

| Finance Committee Meeting Notices, Agendas & Minutes

WINDHAM SOLID WASTE MANAGEMENT DISTRICT (WSWMD)

BRATTLEBORO, VERMONT

FINANCE COMMITTEE MEETING

MINUTES OF SEPTEMBER 12, 2019

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

COMMITTEE MEMBERS ABSENT: James Damato, Readsboro

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

OTHERS PRESENT: Michelle Cherrier, Dummerston

Mr. Mundell called meeting to order at 6:05 PM

  1. Changes and/or Additions to Agenda: None.
  2. Approval of Minutes:

Mr. Hodgkins moved to approve the minutes of August 8th, 2019. Mr. Moreland seconded, and the minutes were approved as presented. (3 votes)

  1. Review of Check Register- August 2019: The committee discussed the trommel screen payment and the possibility of internal financing to pre-pay on the loader loan and reduce interest expense.

Mr. Moreland moved to accept the August 2019 Check Register, Mr. Hodgkins seconded, and the register was accepted for recommendation to the board of supervisors. (3 votes)

  1. Review of Financial Report-August 2019: The committee discussed the report noting high revenue from compost sales, access stickers and receipt of the ANR grant for the trommel screen. Mr. Moreland asked about expense timelines and Mr. Spencer noted which expenses are one-off, quarterly or accrued monthly. Mr. Spencer also highlighted good performance from the organics program, largely thanks to increased productivity provided by the trommel screen.

Mr. Moreland moved to accept the August 2019 financial report. Mr. Hodgkins seconded, and the report was accepted for recommendation to the board of supervisors. (3 votes)

  1. Discussion of FY 21 Budget Process: Mr. Spencer offered the committee some insight into early recommendations from Ms. Hayes and himself. Mr. Moreland asked about potential operational changes during FY21. One possibility would be rent income from the Rich Earth Institute if WSWMD purchases the BOE assets. Mr. Spencer suggested that downsizing the generator could better utilize the remaining landfill gas processing assets to produce electrical revenue. The concrete pad could also be used for future biosolids composting for Brattleboro. The committee discussed Long Falls Paperboard as a future revenue source and the impact of a possible anaerobic digester project of theirs. Next steps for Mr. Spencer include creating estimates for rental income from the BOE site and for biosolids composting based on current Brattleboro volumes, researching the possibility of internally financing the loader, creating a draft fee schedule, marketing compost to Brattleboro and getting results from the BOE site appraisal.
  2. Executive Session (if needed): None.
  3. Next Finance Committee Meeting: The next finance committee meeting will be held September 26th at 6:30 as decided at the August 8th meeting.
  4. Other Business as Legally Allowed: None.
  5. Adjournment:

Mr. Hodgkins moved to adjourn. Mr. Mundell seconded, and the meeting adjourned at 6:54 PM.

 

Minnie Boadu-Bennett, District Clerk