FINCOM 20240207 Minutes

Source page 1

Canton Finance Committee Minutes Voted on: 2/21/24 
801 Washington Street Vote: 6-0-0 
0 Canton, MA 02021 
Meeting Minutes 
February 7,2024 
Finance Committee Members Present: Dave Clough, Dan Cole, Karen Foley, Emilio Mauro, Tim McKenna, Kristin 
Mirliani, Reuki Schutt and Cindy Thomas. 
Finance Committee Members Absent: Maureen Menconi. 
Guests Present: 
Victor Del Vecchio, Revere & Son Heritage Trust 
Alan Hines, Revere & Son Heritage Trust 
Randy Scollins, Finance Director 
Call Meeting to Order: Ms. Thomas called the virtual Zoom Finance Committee meeting to order at 7:00 p.m. 
Review of the Agenda — Ms. Thomas reviewed the agenda items that included FY25 budget discussion with Alan 
Hines and Victor Del Vecchio of the Revere and Son Heritage Trust (RSHT), the Revenue Forecast voted by the 
Revenue Forecast Committee (RFC), follow-up to the Auditor's Report for FY23 and an update from Mr. Scollins 
regarding the formation of a Procurement Committee for a Police Department Study. 
Discussion - FY25 Municipal Budget Requests 
Revere and Son Heritage Trust (RSHT) — Alan Hines and Victor Del Vecchio 
Mr. Hines started the budget discussion. Mr. Scollins screen -shared their nine -page PowerPoint presentation. The 
Trust manages the Revere Barn and the Rolling Mill for the Town. They are overseeing the design and development 
of the Museum. Revenue is from fundraising events and donations/contributions as well as Canton tax revenue. The 
Trust is seeking monies to fund the Museum (capital campaign). The Trust has retained a private fundraiser to help 
seek additional funds. The Trust does not want to be fundraising to supplement their Town budget. Many donations 
are earmarked by donors for specific uses. Total revenues for FY23 total $318,186. (See meeting documents for 
detail.) 
Mr. Hines presented the following information regarding their June 2022-23 Total Revenue — including fundraising: 
• Total gross revenue including fundraising events totaled $318,186. 
• Of the $318,186 approximately $19,652 was collected from fundraising events and $298,534 was derived 
from State ARPA Tourism Grant/State Earmark funds, Norfolk County ARPA funds, donations and small 
grants and Canton taxes collected. 
• Of the $65,867 Canton taxes collected, 37% or $24,440 was appropriated towards the RSHT budget. The 
remaining funds were used for $24,746 for a shed, $8,000 for a monument sign, $5,944 for peer review of 
barn work and $2,727 towards Fund 152 R&S Donation Account. 
Mr. Hines presented information regarding FY23 expenses as follows: 
• Total expenses for FY23 was $242,915. 
• Of the $242,915 spent, $116,000 (from state and Norfolk County grants) went towards Museum Design, 
$38,690 was spent on three areas (peer review of barn work, storage shed and monument sign). $42,936 
was spent on salaries and taxes ($21,198) and the remaining $21,738 spent on office expense, IT software, 
insurance and cleaning. Approximately $7,659 was depreciation. 
Mr. Hines reviewed the R&S fiscal year June 2023-24 Budget (services versus actual costs): 
• The R&S requested $76,200 for the FY24 budget. Town Meeting approved $66,200 for the FY24 budget. 
• Of the $66,200 approved, $25,000 was spent for salaries with the remaining $41,200 spent for custodial, 
professional services consulting, community event support and IT cleaning and office supplies. Mr. Hines 
stated that they cannot operate as an organization without having resources. The Museum is open all 
Saturdays and the R&S needs an administrative assistant to help with logistics of renting out the space at the 
FINCOM 20240207 RS KM Minules.docx Page 1 of 11 2/17/24