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06/01/2017 AC Minutes; • Scenario 2: Using $12,443,000 million from the fund for a cash purchase of 20 Pelham Road and 173 Bedford Street, with the remainder being used pro rata to help fund construction costs for the remaining excluded debt projects. According to the model, Scenario 1 would result in savings of approximately $7.5 million in interest costs over the life of the borrowing and Scenario 2 would result in savings of approximately $15.5 million. Ms. Kosnoff emphasized, however, that her modeling did not include inflation, earned interest, new growth, or the possibility of additional funds being put into the CSF. In her opinion, the results indicate that there is value in refining Scenario 1 for additional consideration. Committee members expressed general support for this approach. Ms. Kosnoff said she would be discussing this with Carl Valente, Town Manager, and this could be a topic for the June 8 budget summit. 4. BoS Goal Setting Mr. Bartenstein distributed a list of suggested BoS goals submitted to him by individual Committee members. He asked for additional suggestions to be sent to him as soon as possible after this meeting so that he can prepare and submit a final list to the BoS by its requested deadline of July 16. 5. Minutes A motion was made and seconded to approve minutes for May 15, 2017, including one minor edit. The motion passed. VOTE: 9-0 6. Adjourn The Committee adjourned at 9:40 p.m. The documents used at the meeting are listed below. Respectfully submitted, Sara Arnold, Recording Secretary Approved: July 11, 2017 Exhibits • Agenda, posted by John Bartenstein, Chair • Use of CSF for Excluded Debt Projects; prepared by Ms. Kosnoff, for June 1, 2017 AC meeting • Draft Appropriation Committee Input; 2017 BoS Goal Setting; prepared by Mr. Bartenstein; June 1, 2017 3