8747-R2_ML&P_Hollis_2022-2023_AnnualReport_Web

Finance Committee Report The Finance Committee consists of five members, appointed by the Select Board for 3-year terms. We are an advisory committee to the Select Board with the below responsibilities quoted from the committee’s ordinance: 1). Annual Operating Budget - The committee will review and make recommendations to the Select Board. 2). Annual Capital Budget - The committee will review and make recommendations to the Select Board. 3). Warrant Articles - The committee will review Warrant Articles pertaining to financial issues and recommend or not recommend to the Select Board. 4). Review of revenue and expenditures - The committee will make quarterly reviews of revenues & expenditures and present issues/questions to the Select Board. 5). Other - The committee shall review and make recommendations to the Select Board on supplemental appropriations, expenditures, and investments of Town funds. This year the committee had a total of five (5) meetings. The committee worked with the Select Board on a Town Salary Policy which has not yet been completed. The goal of this new policy is to have a process in place for determining salary increases for all Town employees. The Select Board requested approval for using emergency funds up to $30,000 for furnace replacement and leak repairs in the Community Building and $94,876.54 to fulfill the Plowing Contract. The committee reviewed and made recommendations on all individual budgets to include Capital Expenses for the Community Building for $30,000 to replace the doors and basement flooring, as well as recommending an increase in the Snow budget to cover the increased cost in the bid that was selected. The committee reviewed and made recommendations for increased salaries for the Parks and Recreation Department to try to maintain staff levels for programs such as Before & Aftercare, and the recruitment and retention of staff. The committee advised the Select Board to accept the budget submitted by the Hollis Center Public Library. The Hollis Center Public Library was able to obtain signatures on a citizen’s initiative petition to receive the full funding amount they requested. As the chair of the committee, I encourage any residents to reach out or come to the Finance Committee meetings. We welcome public comment and participation as we execute the responsibilities of our committee. Respectfully submitted, Joshua Morse, Chair

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