FinCom-20240820T104107

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Canton Finance Committee Minutes Voted on: 10/26/21 
801 Washington Street Vote: 6-0-0 
Canton, MA 02021 
Meeting Minutes — Open Session 
October 14, 2021 
Finance Committee Members Present: Dan Cole, Dave Clough, Tom Emery, Karen Foley, Emilio Mauro, Tim 
McKenna, Reuki Schutt and Cindy Thomas. 
Finance Committee Members Absent: All members were present. 
Guests Present: 
Bob McCarthy, Buildings Renovations Committee 
Ellen Jones, Finance Committee Recording Secretary 
Randy Scollins, Finance Director 
Opening: Chair McKenna called the Zoom virtual meeting to order at 7:00 p.m. The Finance Chair announced that 
the Committee would be going into recess and would reconvene at approximately 7:30 p.m. to accommodate the 
schedules of some of the participants in the meeting. Mr. Scollins displayed on the screen the following message 
"The Finance Committee is currently in recess, but will resume shortly at 7:30 p.m." 
New Business 
The Finance Committee reconvened at 7:30 p.m. Mr. Scollins reactivated Ms. Schutt's Zoom video feed. 
STM Article 3 — Aporottrlatlon for the Metropolis Rink Reconstruction Project 
Mr. Scollins projected on the screen a copy of the Rink article, "To see If the town will vote to raise and 
appropriate, borrow pursuant to any applicable statute, or transfer from available funds or by transfer from 
Free Cash, a sum of money for the Metropolis Rink Reconstruction Project; or to take any action related 
thereto." 
Mr. Scollins gave a financial summary of the Metropolis Rink project, the Bolivar Pool project and the funding request. 
The following are some of the highlights from that discussion: 
• The Rink project has a revenue shortfall of $367,000 due to code upgrade related insurance coverage that 
came in less than expected. The insurance company would not honor that the Town used a steel frame as 
opposed to the existing wood frame. They disqualified this for code upgrade. 
• The budget for the Rink project is $11,000,000. 
• The expense spent to date for the Rink project is $10,655,068. Therefore the project is under budget and is 
expected to come in within budget. 
• The current deficit is $22,322 with some additional expenses expected. The BRC is recommending the 
purchase of a second Zamboni. 
• The funding/revenue shortfall for the rink project could be solved by the re -appropriation of funds from the 
Bolivar Pool project surplus. 
• The Pool project is substantially complete with limited closeout expenses remaining. The projected surplus 
for the project is expected at approximately $625,000. Currently this is slightly more than $750,000 left in 
this project fund. These remaining funds can be re -appropriated at a Town Meeting for a project with the 
same or longer useful life. The Rink project would qualify as one of those projects. 
• The additional expenses, which could change, that are still outstanding is the cost of a second Zamboni 
($160,000), some ceiling repairs ($10,000) and concession equipment and plumbing hook up ($8,000) 
totaling $181,000. 
Mr. Scollins turned the discussion over to Mr. McCarthy, the Chair of the Buildings Renovation Committee, Liz 
Francis, Director of Parks and Recreation and Mr. JR McCourt, Recreation Commissioner, were unable to attend the 
Finance Committee meeting due to personal and business -related conflicts. The plan was always to have a second 
Zamboni. 
Chair McKenna inquired if the Town could appeal the $470,164 the less than expected decision by the insurance 
company. Mr. Scollins stated that the Town foreclosed its rights on that in order to receive the final code upgrade 
payment of $565,000. The Town needed to sign that by accepting the $565,000 the Town would forever discharge 
FINCOM 20211014 Open Session Minutes.docx Page 1 of 3 10/23/21