FINCOM 20190404 Minutes

Source page 1

Meeting of the Canton Finance Committee Minutes Voted on: 5/13/19 
Meeting Minutes Vote: 7-0-1 
Thursday, April 4, 2019 
Finance Committee Members Present: 
Christos Arsondiadis, Rob Barker, Dan Cole, Cynthia Holcombe, Emilio Mauro, Tim McKenna, Barbara Saint Andre 
and Wai Wong. 
Finance Committee Members Absent: Cindy Thomas. 
Guests Present: 
James Murgia, Finance Director 
Ellen Jones, Finance Committee Secretary 
Opening: A meeting of the Canton Finance Committee was called to order by Chairman Barker at 7:04 pm. on 
Thursday, April 4, 2019, in the Salah Meeting Room of Town Hall. 
A. Approval of Agenda 
Chairman Barker reviewed the items on the agenda which included reopening previous votes on various Town 
Meeting articles, voting the budget under Article 46 and reviewing the Finance Committee report and discussions 
for ATM. 
B. Announcements 
There were no announcements. 
C. New Business 
Vote to Reopen Article 20 — Bolivar Pool Prosect Funds Appropriation — At the Finance Committee meeting on 
April 2, 2019 the Finance Committee voted to recommend an appropriation of $6,107,719 for Article 20. If 
Community Preservation Funds of $200,000 are approved under Article 19 Motion 9, the borrowing amount 
needed would be $5.9 million instead of $6.1 million. 
A motion made by Ms. Saint Andre to reopen Article 20 was seconded by Mr. McKenna. 
Vote: 6-0-0. 
A motion made by Ms. Saint Andrd to amend the appropriation recommended for Article 20 Bolivar Pool Project 
Funds Appropriation from $6,107,719 to $5,900,000 was seconded by Mr. McKenna. 
Vote: 6-0-0. 
Article 46 — Appropriate Funds to Meet Expenses for Next Fiscal Year (FY20) 
Ms. Saint Andre inquired if the transfers voted under Article 46 Motionl were reflected in the budgets that the 
Finance Committee would be recommending under Article 46 Motion 2. 
Of the $330,000 in savings from the Health Insurance Budget, $200,000 was added to the Finance Committee 
Reserve Fund, $100,000 was added to the School Department Budget and $30,000 was added to Other Post 
Employment Benefits (OPEB). 
Mr. Murgia explained that the municipal budget the Finance Committee would be recommending to Town 
Meeting would be $21,643,481 which is less than the target number of $21,777,124. The $21,777,124 being 
FINCOM 20190404 Minutes Page 1 of 6 5/6/19