9031-R3_CC_Hollis_2023-2024_AnnualReport_Web

Finance Committee Annual Report July 1, 2023 - June 30, 2024

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 following responsibilities (Finance Committee Ordinance 2019): 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 and 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. The Finance Committee met five (5) times this year to review budgets presented by the Select Board and to make recommendations concerning those budgets. The major consideration for 2024 was the Committee’s vote to approve the construction of a new Municipal Building. As presented, the capital improvement of $7,500,000 for the Municipal Building would have no effect on the annual property tax rate. The construction cost would be paid for by a $2,000,000 Congressional grant, TIF funds becoming allowable for this use, General Funds, and ARPA funds. The Finance Committee voted in favor of recommending the construction of the new Municipal Building for the Town Warrant vote. All Finance Committee meetings are open to the public, and as Chair, I encourage Town residents to attend in person or through Zoom. Committee agendas and minutes may be found on the Town of Hollis website. All meetings are recorded and televised, and may be watched live through the link on the Town website or later through Saco River Community TV. Personally, I would like to thank the Select Board, the Board’s invaluable assistant, Bennet Flinner, and Finance Committee members for all their hard work in preparing, reviewing, and presenting the budgets for residents’ votes on the June Town Warrant.

Respectfully submitted,

Joseph Ponzetti, Chair Hollis Finance Committee

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