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03/01/2018 AC Minutes • Article 28, Appropriate from Debt Service Stabilization Fund It was noted that certain articles receiving a yes vote for the Consent Agenda had not yet been reviewed, discussed, or voted on by this Committee, but based on past experience, they seemed to be reasonable candidates for inclusion. It was understood that if there is any question about their inclusion at a later date, they can be removed. During the approval process of the Consent Agenda items, it was noted that Article 27: Appropriate to Stabilization Fund was included on the BoS' list to be IP'd, but this did not have the support of the CEC. Mr. Kanter explained his personal opposition to the BoS' position. Using a handout, he reported that, in 2006, guidelines were adopted to bring the Stabilization Fund up to 7% of the prior year's General Fund revenues to protect the Town against reduced state aid and declining local receipts. The fund is currently well below that threshold. Mr. Kanter reported that he is currently considering presentation to the ATM of an amendment that would infuse $1.0 million into the Stabilization Fund and reduce the funds currently being considered for the Other Post-Employment Benefits (OPEB)Fund accordingly. During discussion it was noted that several stabilization funds have been established since 2006,perhaps changing the need for such funding of the Stabilization Fund, and the OPEB Fund gets a higher rate of return than the Stabilization Fund. There was general support for revisiting the guideline. 3. Report to 2018 Annual Town Meeting Logistics for completing the report were reviewed. Mr. Michelson will be out-of-town March 17-26, returning in time to attend ATM on March 26. Ms. Kosnoff will be out-of- town March 22-25. It was noted that the BoS plan to discuss the Visitors' Center at their March 19 meeting; an effort is being made for this Committee to get information about this project before March 19 to assist in writing the report, although tradition dictates that such information is first presented to the BoS. 4. Next Meetings AC meetings are scheduled for March 8 (Hudson Room), March 15 (Hudson Room), and March 22 (Parker Room). If necessary, a meeting will be also held on March 13. Items for next week's agenda were identified. This Committee is scheduled to meet on March 26 prior to the ATM and vote on the final report. The report is expected to be distributed electronically the following day and printed copies will be available prior to the second day of ATM, which will be approximately a week before financial articles are addressed. 5. Minutes A motion was made and seconded to approve the February 8, 2018 Minutes. The motion passed. VOTE: 9-0 The meeting adjourned at 10:20 p.m. Respectfully submitted, Sara Arnold, Recording Secretary Approved.- March 15, 2018 4