Board of Selectmen Meeting Minutes & Agendas

May 21, 2018

Board of Selectmen Minutes - May 21-2017

MONDAY, MAY 21, 2018
3:00 PM


Present:  Town Manager Andrew Dorsett, Chairman Schuyler Sweet, V. Chairman Franco Rossi, Selectperson Carrie Gendreau, Executive Secretary Ceil Stubbings, Finance Director Karen Noyes

Sweet called the meeting to order at 3:00 PM.

New Business:
Approve a TAN (Tax Anticipation Note) in the amount requested by the Finance Director 
Karen Noyes stated that at this time we are anticipating the need for a Tax Anticipation Note (TAN) for a short period of up to 3 months during the months of May to July.   The Town has approximately $273,562 in the bank accounts to cover the check and payroll run for May 31st.   Sewer Tax bills have been sent and we should be receiving funds from these bills during the month of May.  We have asked the School Business Administrator if we can hold off on the School payment that would be due at the end of May to avoid taking the TAN for a few more weeks.  The school agreed to delay the payment until June 15th, which may help to avoid taking a TAN at all.  This TAN is to be used for normal operations.

The Finance department will work with vendors and other town groups to avoid taking a TAN if possible.   The interest rates we are being given during this past year have ranged from to 1.75% to 3.00%.    The $1,500,000 will roughly cost $2,187-$3,750 a month in interest.  We generally take a TAN for about 4 to 6 weeks while waiting for TAX revenues to come in.    

Carrie Gendreau made the motion “To authorize the Town Manager and Treasurer to take a TAN for no more than $1,500,000 without additional approval.  The TAN will be financed at the lowest rate possible and for no more than a three month period without additional approval.  This authorization for approval for the TAN will expire on August 15, 2018.”  Franco Rossie seconded the motion.  Motion passed 3-0.

Parking Commission Appointments
Sweet said the advertisement was posted last week.  They are going to wait another week in the hopes of receiving more applicants.  Dorsett said he is working with NCC on the scope of the commission.  He has also received phone calls from a couple of business owners, planning board members and others who have been a part of the discussion. 

Other Business
Sweet said they had talked about starting the budget process earlier this year with the budget committee.  We also discussed the non-profit agencies complete an application to request funding from the Town.  The application will be the same format used by Grafton County.  The budget committee will be in charge of collecting and analyzing the applications.  We are hoping to start sometime in July.

The board agreed to hold a Board of Assessors meeting on June 7th at 10:30 AM, at the Town Office Conference Room.  The purpose of this meeting is to go over the abatement requests and other assessing issues. 

Rossi made the motion to adjourn.  Gendreau seconded the motion.  Motion passed 3-0.

The meeting adjourned at 4:00 PM.




Board Action: