1. Changes and/or Additions to Agenda: None.

2. Approval of Minutes of June 14, 2018:

Motion made to approve the minutes of June 14, 2018 with no changes, seconded and carried. There was one abstention.

3. Review of June and July 2018 Check Registers: The Committee reviewed and discussed various items from the check registers of June and July 2018 including payments for truck repair and required compost analysis.

Motion made, seconded and carried to approve both check registers.

4. Review of June 2018 Financials and MRF Closure Costs:  The Committee reviewed financial reports for June 30, 2018 which reflect FY 2018 in full. Mr. Spencer reported WSWMD came in at 22% over the projected revenues. Ms. Benoit and Ms. Cherrier additionally described modifications to how several line items are listed in future financial reports, specifically that the compost program, transfer station, and additional programs will be grouped as operations at the recommendation of the finance committee in a previous meeting.  Ms. Cherrier called attention to our good financial health as reflected in the report on net liquid assets.

5. Review of July 2018 Financials:  The Committee reviewed financial reports for the month ending July 31, 2018. Mr. Spencer reported revenue for the month as 5% above projected and noted that this statement will be revised to reflect the financing process for the new loader.  The new report will show $25,000 capital equipment expense and $26,000 surplus.  Mr. Spencer reports that expenses for the month tracked to the budget. Mr. Spencer reported on the large number of access stickers purchased in the month (July: 1100 stickers) and compared this to the total count for last year (1950 stickers). Ms. Benoit explained how the scalehouse manages sticker purchases and renewals. Approval of the July Financials postponed until September to allow for the corrected report. The Committee discussed the completed financial audit, reports from the CPA firm which performed the audit have not yet been received.

6. Discussion of Loader Purchase: Mr. Spencer reported on the purchasing and financing processes for the new loader which was purchased from Nortrax for $236,000, less $7000 for one month’s previous rental. Purchase of the loader was additionally offset by sale of the $7500, and an incoming USDA grant for $17500. Mr. Spencer expressed gratitude to Mr. Moreland for making introductions at town (Brattleboro) finance department. The remaining $204,000 was financed with a loan from Brattleboro Savings and Loan.  Mr. Spencer described the significant specifications of the equipment, highlighting numerous improvements over old equipment including the speed of loading trucks and ease of turning piles. Ms. Benoit reported 72% of materials received at our facility are diverted from disposal.  Mr. Damato congratulated Mr. Spencer on the operations of the yard.

7. Preliminary Discussion of 2020 Budget: The committee discussed potential impact of legislative changes on the budget. The process for determining the budget was reviewed at the request of Mr. Moreland.  Mr. Moreland proposed a Capital Replacement program.  Ms. Benoit and Mr. Spencer plan to meet with staff to prepare a preliminary budget by the September Finance Committee meeting.

8. Executive Session (if needed): None.

9. Next Finance Committee Meeting: Sept. 13th, 2018 at 6pm

10. Other Business as Legally Allowed: none

11. Adjournment: 6:59pm


Minnie Boadu-Bennett, District Clerk