HomeMy WebLinkAboutBudget Committee Minutes 7-11-22
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BUDGET COMMITTEE
Minutes - July 11, 2022
Committee present: Eric Levine - Chairman, Rod Howe, Pam Bleiwas
Staff present: Donna Shaw, Judy Drake, Joe Slater, Dan Thaete, Marty Mosely
Meeting was called to order at: 12:00 p.m.
AGENDA ITEMS:
• Review and approve meeting minutes from June 13, 2022
Moved: Rod Howe Second: Pam Bleiwas Motion Passed.
• Review and approve 2023 Staffing Plans.
The 2023-2026 Staffing Plan was shared with Committee.
The 2023 Staffing Plan includes the following changes at Town Hall:
- 1 FT Computer Support Aide added in 2022 will continue.
- 1 FT Deputy Finance Officer will not be funded in 2023.
- 1 FT Code Safety Inspector added in 2023.
- .25 FT Director of Planning added as overlap for an expected retirement in 2023.
Public Works Facility included the following changes:
- 1 FT Civil Engineer
- .25 FT Administrative Assistant added as overlap for an expected retirement in 2023.
• Review and approve 2023 CIP.
The Committee reviewed the schedule for capital projects scheduled for 2023:
- WATER TANKS - No projects are scheduled for 2023.
- WATER MAINS - Water Main Improvements for 2023 total $1,346,365 and consists of two
projects carried over from 2022 due to supply chain related backlogs. The Troy/Coddington
Backup Generators, estimated at $250,000 was funded with Benefit Assessment Fees in 2022
so will you use the fund balance created in 2023; Ridgecrest Booster Pump and 12” Bypass,
estimated at $1,096,365 will utilize ARPA funding.
- SANITARY SEWERS - The amount of $300,000 will be budgeted for Sewer Manhole Rehab in 2023,
which will be funded from current year revenues in the Sewer Fund. The Forest Home Pump
Station & Forcemain Project is carried over from 2022 and expanded to $1,250,000. In 2022,
the $450,000 estimated cost was budgeted to use fund balance. This year we are anticipating
using the $550,707 balance of ARPA funding and issuing BANS for the remainder of $699,293.
- STORM DRAINAGE – No projects are scheduled for 2023.
- ROAD IMPROVEMENTS – The 2023 Road Improvement Program is budgeted at $1,481,000 and
includes the following projects:
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- Harris B. Dates Drive – Entrance/Exit $ 77,000
- Conifer 122,000
- Judd Falls – Route 366 to Tower Road 300,000
- Burleigh Drive 152,000
- Lexington Drive 163,000
- Concord Place 51,000
- Birchwood Drive 99,000
- Pinewood Drive 74,000
- Briarwood Drive 78,000
- Maplewood Drive 63,000
- Christopher Lane 182,000
- Christopher Circle 120,000
These projects will be financed with current year property tax, CHIPS revenue, and
approximately $781,000 in DB fund balance.
- SIDEWALKS – No projects are scheduled for 2023.
- TOWN FACILITIES – The PWF Fuel Station is budgeted in 2023 at $750,000 and PWF MEP Study is
budgeted at $20,000, both will use available fund balance.
- GREEN ENERGY UPGRADES – This is a new category for 2023 and includes $25,000 for Town Hall
and PWF green energy upgrades, which will be funded by available fund balance.
- PARKS & TRAILS – Improvements to Town Parks & Trails for 2023 is budgeted at $331,700 and
includes a $66,000 local share contribution (from Open Space Plan Reserve) to the new Babcock
Ridge Trail design, pending grant approval, as well as $50,000 for trail overlay from General fund
balance.
Review and discuss Vehicle/Equipment Replacement Schedule for 2023.
The Committee reviewed the spreadsheet for the preliminary 2023 Vehicle/Equipment
Replacement. The total of new equipment is budgeted at $620,000. This includes a new electric
mower to replace a diesel-powered mower. The Ventrac Tractor will be auctioned and replaced
with leased equipment on a trial basis while we determine what equipment best meets the Town’s
needs. The total amount estimated to be received from auctioning five pieces of equipment is
$165,600.
• Update on status of investments.
We currently have $3,000,000 invested with NYCLASS earning 1.12%. Their rates continue to climb
from .63% when we first enrolled in June.
First National Bank of Groton quoted .8% for a 12-month CD and Tompkins Community quoted 1.5%
for a 12-month CD. We transferred $8,000,000 from FNBG to Tompkins Community for the 12-
month CD on July 2nd.
On June 15th we opened a 6-month CD for $4,500,000 with Tompkins Community with an initial rate
of .65%. On June 21st they voluntarily raised that rate to 1.15% after the federal rate hike.
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Tompkins Community also raised the interest rate on our Super Savings account from .11% to .85%
following the federal rate hike.
• Update on Sales Tax collections for 2023.
For the first five months of 2023, sales tax collections of $1,763,773 are 24.2% higher than the
$1,420,624 received for the same period in 2022.
• Other Items.
The Commission approved a 4.5% increase to the Bolton Point water rate on 7/7/2022. The new
rate will be $6.03/1,000 gallons with a minimum bill amount of $30.15 for 5,000 gallons.
The meeting was adjourned at 12:46 p.m.
Next Meeting: Monday, August 8, 2022 at 12:00 pm, Town Hall - Aurora Room