FINCOM 20230308 Mintues

Source page 1

Canton Finance Committee Minutes Voted on: 3-15-23 
801 Washington Street Vote: 7-0-1 
0 Canton, MA 02021 
Meeting Minutes 
March 8, 2023 
Finance Committee Members Present: Dan Cole, Karen Foley, Emilio Mauro, Tim McKenna, Maureen Menconi 
and Cindy Thomas. 
Finance Committee Members Absent: Dave Clough and Reuki Schutt. 
Guests Present: 
Charlie Doody, Town Administrator 
Derek Folan, School Superintendent 
Ellen Jones, Finance Committee Recording Secretary 
Lisa Lopez, Vice Chair, Select Board 
Steve Marshall, School Director of Finance and Operations 
John McSweeney, Co -Chair, Canton Community Preservation Committee (CCPC) 
Allison Neff, Administrator, Canton Community Preservation Committee (CCPC) 
Randy Scollins, Finance Director 
Call Meeting to Order: Ms. Thomas called the virtual meeting to order at 7:03p.m. 
Ms. Thomas took a few minutes to review the Finance Committee's agenda for the meeting stating that the 
Committee will be hearing the recommendations from the Community Preservation Committee regarding Article 17. 
FY24 Article/Budget Discussions 
Article 17 — Recommendations of the Community Preservation Committee 
Mr. McSweeney presented a PowerPoint presentation. Some of those highlights include the following: 
• Surcharge revenue increased from $480,000 in FYI to $711,659 in FY22. The surcharge revenue for 
FY23 is estimated to be $733,000 and FY24 is estimated to be $755,000. 
• All revenue sources include CPA Tax, state match, interest and liens/penalties. 
• The Total estimated revenue for FY24 is estimated to be $903,925. 
• The estimated revenue through the state match has fluctuated over a few years varying from a high of 
$299,178 in FY22 to a low of $94,671 in FYI 8. This amount depends on how much the Registry of Deeds 
collects and how much the state matches. In FY23 there was an original state match distribution in 
November 2022 of $216,480 or a 30.4% match. In January 2023 a second state distribution of $58,526 
bringing the total match to 38.6% 
• The rollover funds from FY23 include funds not appropriated to projects and surplus funds from completed 
projects and any unused administrative budget. Mr. McSweeney gave as an example of a Select Board 
project for a pickle ball court that was not built. Those funds were returned back into the CPA fund. 
• For FY24 the revenue of $903,925, plus rollover funds of $604,809, brings the total CPA funds available for 
FY24 to $1,508,734. 
• The debt service obligation for FY24 is $232,990 for the Paul Revere Heritage Site acquisition and 
improvements. This is the fifth payment of the 10 year loan. 
• There are three motions for the CCPC article: Motion 1) $45,196 (5% of budget) for administrative 
expenses, 2) $90,393 (10% of budget) for each of the "buckets" of Open Space/Recreation, Historical 
Resources and Community Housing and 3) $232,990 for the debt service payment. 
• The CCPC "paused" accepting applications in the summer of 2022 because they were without an 
administrator. 
• The CCPC is accepting pre -applications until August 18, 2023. 
• Full applications are due October 27, 2023, after which time the CCPC will be meeting with applicants in 
November and December of 2023. 
In response to Mr. Mauro's question, if projects approved in past years have been able to go forward or were they 
affected by the pandemic or inflation, Mr. McSweeney stated that most of the projects have gone forward. One 
unknown project is the Kennedy baseball field snack bar/restroom facilities. The Buildings Renovations Committee is 
FINCOM 20230308 Minutes WRS MM.docx Page 1 of 8 3/11/23