Present:

• Jay Bikofsky, Chair
• Jim Balfanz
• Bill Vogt
• Steve Shatz
• Pamela Boudreau
• Diane Reuss
• Via Zoom Patrick White

1. Chair said they would discuss the operating budget and future capital budget but not the warrant articles yet
2. Minutes from 9/30/21 approved
3. Canales screen-shared an operating budget as a “baseline” for discussion
   1. Includes everything but proposed additional police officer
   2. Proposed lowering litigation line
   3. Technology up $20,000 (software)
   4. Salaries relatively unchanged
   5. $460,000/schools as Stockbridge enrollment up
   6. Shatz mentioned increasing energy line item due to current world events. Shatz suggested “err on the high side”
4. Chair suggested next step is to meet with departments and ask questions/clarify
   1. Perhaps meet in joint session with SB
   2. Chair suggested meet first with Police, Fire, and Highway
5. Canales moved discussion to debt —
   1. suggested this is the time to borrow (low interest rates) however against the law to borrow and hold for future expense.
   2. Canales suggested finishing the engineering for big items such as bridges, so we are “shovel ready”
   3. Shatz suggested using the $1 million set aside for COVD-19 but never used (now part of $4.9 million in reserve) be used rather than borrow if rates soar
   4. Canales pointed out if interest rates go high enough, the interest could be as much as the principal.
   5. Vogt wanted to fix interest rate now, but Canales reminded him, can only fix interest rate by borrowing. It is illegal to borrow in advance of expenditure
   6. Reuss suggested using the money in reserve and paying down all debt — or all possible debt up to $4.9 million with a smaller reserve and have a clean slate. “It is the taxpayers’ money, and we are stewards meant to use it for the purpose intended.”
   7. Canales said he listened and will build scenarios for different choices
   8. Chair said this was all part of the final process and hopes to have final budget by end of March.
6. Discussion re: school, cost of new school, costs associated with repairs (for example) if new school turned down
7. Chair said the Commonwealth takes a dim view of using free cash and stabilization fund to reduce tax rate. Shatz agreed
8. Chair said it becomes more difficult for small communities to pay for Commonwealth requirements (for example, police training) and seems to force village to look into shared services. Shatz agreed
9. The cost of the school is a large budget item and probably would grow larger with proposed new school. White spoke to the merger seemingly combining the shared services and school issues.

Meeting adjourned