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Home My Public Portal About01.31.24 Fincom joint with Select Board Public Packet Town of Brewster Finance Committee And Select Board 2198 Main St., Brewster, MA 02631 fincommeeting@brewster-ma.gov (508) 896-3701 MEETING AGENDA 2198 Main Street January 31, 2024 at 6:00PM This meeting will be conducted in person at the time and location identified above. This means that at least a quorum of the members of the public body will attend the meeting in person and members of the public are welcome to attend in person as well. As a courtesy only, access to the meeting is also being provided via remote means in accordance with applicable law. Please note that while an option for remote attendance and/or participation is being provided as a courtesy to the public, the meeting/hearing will not be suspended or terminated if technological problems interrupt the virtual broadcast or affect remote attendance or participation, unless otherwise required by law. Members of the public with particular interest in any specific item on this agenda, which includes an applicant and its representatives, should make plans for in-person vs. virtual attendance accordingly. Members of the public who wish to access the meeting may do so in the following manner: Phone: Call (312) 626 6799 or (301) 715-8592. Webinar ID: 862 2956 9696 Passcode: 565167 To request to speak: Press *9 and wait to be recognized. Zoom Webinar: Zoom Webinar: https://us02web.zoom.us/j/86229569696?pwd=MUhJNGpoU3VocTZ0cTU0VGpYcWdVQT09 Passcode: 565167 To request to speak: Tap Zoom “Raise Hand”, then wait to be recognized. When required by law or allowed by the Chair, persons wishing to provide public comment or otherwise participate in the meeting, may do so by accessing the meeting remotely, as noted above. Additionally, the meeting will be broadcast live, in real time, via Live broadcast (Brewster Government TV Channel 18), Livestream (livestream.brewster-ma.gov), or Video recording (tv.brewster-ma.gov). Please note that for any item agenda item listed the Finance Committee may take action including a vote 1. Call to Order 2. Declaration of a Quorum 3. Meeting Participation Statement 4. Recording Statement - As required by the Open Meeting Law, we are informing you that the Town will be video and audio taping as well as broadcasting this public meeting. In addition, if anyone else intends to either video or audio tape this meeting, they are required to inform the chair. 5. Public Announcements and Comment: Members of the public may address the Finance Committee on matters not on the meeting’s agenda for a maximum of 3-5 minutes at the Chair’s discretion. Under the Open Meeting Law, the Finance Committee is unable to reply but may add items presented to a future agenda. 6. Town Manager/Finance Director Report 7. Five Year Capital Improvement Plan – FY2024-2028 - Presentation and Discussion 8. Capital Requirements – Town Meeting Spring 2024 – Presentation and Discussion 9. Nauset Regional School District Agreement – Update and Discussion 10. Nauset Regional School Department - Budget Update and Discussion 11. Liaison Reports 12. Approval of Minutes 13. Request for agenda items for future meetings 14. Matters Not Reasonably Anticipated by the Chair 15. Future Finance Committee Meetings 16. Adjournment Date Posted: Date Revised: Received by Town Clerk: Finance Committee Harvey (Pete) Dahl Chair Frank Bridges Vice Chair William Meehan Clerk Patrick Buckley Andrew Evans William Henchy Alex Hopper Robert Tobias Robert Young Town Manager Peter Lombardi Finance Director Mimi Bernardo FY24-FY28 CAPITAL IMPROVEMENT PLAN (CIP) PETER LOMBARDI, TOWN MANAGER MIMI BERNARDO, FINANCE DIRECTOR DONNA KALINICK, ASSISTANT TOWN MANAGER TOWN OF BREWSTER, MASSACHUSETTS JANUARY 31, 2024 AGENDA •Five-Year Capital Improvement Plan Overview •All Funding Sources Summary •Planned Free Cash Investments •Nauset & Brewster Elementary Schools Detail •Spring 2024 Capital Requests •Telling Our (Capital) Stories 01/31/24 FY24-FY28 TOWN OF BREWSTER CIP OVERVIEW •Major Projects •Nauset Regional High School ($170M total) •Stony Brook School Roof & HVAC ($12.3M) •Millstone Road Improvements ($10.3M) •Captains Golf Course Maintenance Building & Irrigation System ($13.3M) •Spring Rock Village Community Housing ($1.5M) •Ongoing Commitments •Integrated Water Resource Management Planning & Watershed Permits •Fleet, Facilities, and Equipment Re-investments 01/31/24 FY24-FY28 TOWN OF BREWSTER CIP OVERVIEW •Unknown Capital Costs – require more information or policy direction •Stony Brook School Code Compliance •Drummer Boy Park Improvements •Future Cape Cod Sea Camps Projects, including a Community Center •Library Renovations/ Improvements •Additional Wastewater Planning 01/31/24 TOWN OF BREWSTER 5 YEAR CIP OVERVIEW 01/31/24 BREWSTER MAJOR CAPITAL FY24-28 (1 OF 4) 01/31/24 BREWSTER MAJOR CAPITAL FY24-28 (2 OF 4) 01/31/24 BREWSTER MAJOR CAPITAL FY24-28 (3 OF 4) 01/31/24 BREWSTER MAJOR CAPITAL FY24-28 (4 OF 4) 01/31/24 BREWSTER CAPITAL FUNDING SOURCES SUMMARY •Free Cash is primary funding source of Capital Improvement Plan •Water & Golf Enterprise fund their own capital through Retaining Earnings •Ambulance Receipts fund majority of Fire Department capital •Short-term debt is paid within levy •Excluded debt expected to double due to 2nd half of high school debt payments starting in FY26 •Funding sources are diversified and sustainable •Town maximizes state and federal grant opportunities •No specific planned use of Capital Stabilization fund in next 5 years 01/31/24 BREWSTER CAPITAL FUNDING SOURCES SUMMARY 01/31/24 FINANCIAL RESERVES POLICY & HISTORY •Financial Reserves Policy targets certified Free Cash balance of 5-7% of annual General Fund Operating budget ($2.7M - $3.8M) •5-year Free Cash average = $4.25M •~$2M target annual Free Cash appropriations on capital investments •Target Free Cash year-end balances of 2-2.5% of annual General Fund operating budget ($1.1-1.35M) •Golf Retained Earnings: $2.1M to start; $750k after FY24 capital (15+% of operating budget) •Water Retained Earnings: $1.7M to start; $1.2M after FY24 capital (~40% of operating budget) •25% of Short-Term Rental Revenues directed to Capital Stabilization fund – 15% to Water Quality Stabilization fund •$1.5M available in Capital Stabilization fund to help reduce debt for larger capital projects 01/31/2024 5 YEAR FREE CASH INVESTMENTS 01/31/2024 NAUSET REGIONAL & BREWSTER SCHOOLS FY24-FY28 CAPITAL •Annual Brewster debt payments for Nauset High School Renovation Project expected to increase by $2M to $4M in FY25 - full Brewster cost of project once long-term debt is issued •Annual Nauset Regional capital allocation is $285+k in FY25, with 2.5% annual escalator (raised through tax levy) •Major Stony Brook Elementary HVAC & roof projects will require debt exclusions and will trigger mandatory code upgrades (amount TBD) •Eddy School needs siding replacement & repaving parking lot and sidewalks (short-term debt) •Added Stony Brook playground replacement ($350k to be funded by Nauset Youth Alliance) •Ongoing annual requests from elementary schools include funding for painting, flooring, technology, and plumbing/HVAC repairs •Brewster School Committee to vote on updated 5-year plan in February 2024 & school officials to present capital request details to Town during upcoming budget meetings 01/31/24 NAUSET REGIONAL & BREWSTER SCHOOLS 5 YEAR CAPITAL •Debt payments for Nauset High School Building Project 4.25 Million annually •NRSD receives annual capital allocation from district towns, increases by 2.5% annually, raised on through tax levy, $278, 577 Brewster’s share •Stony Brook Elementary has major capital needs: Replace HVAC system, replace rubber roof-Both projects will need to be debt excluded •Ongoing requests annually from BES include money for painting, flooring, technology and plumbing/HVAC repairs •Eddy School requests include replacing siding and replacing parking lot 01/31/24 SPRING 2024 CAPITAL PROJECTS •Majority of Free Cash capital requests funded at Fall Special Town Meeting ($3.3M of $3.8M total) •Town Meeting approval needed for most, but not all, projects •Majority of projects funded via Free Cash (exceptions noted in parentheses) •Select Board: Integrated Water Resource Management Planning including Watershed Permits •Media Services: Camera upgrade (Meeting Room A) •Facilities: Town Hall meeting room divider •Fire Department: Personal protective equipment (ambulance receipts) •Natural Resources: Fire panel replacement 01/31/24 SPRING 2024 CAPITAL PROJECTS 01/31/24 SPRING 2024 CAPITAL PROJECTS CONTINUED •Elementary Schools: $205k in total •Nauset Regional School District: Annual capital allocation (tax levy) •Public Works: MS4 compliance •Council on Aging: Mini-van (Friends of Brewster Elders & COA gift account) •Water Department: Ongoing distribution systems, buildings, and treatment facilities; Master Plan update (all Water Retained Earnings, $150k state grant for Master Plan) •Library: Auditorium AV upgrade (cable funds), Safety & security improvements, and Facility evaluation (shared with library funds) •Recreation: Freemans Way fields guardrail replacement 01/31/24 SPRING 2024 CAPITAL PROJECTS CONTINUED 01/31/24 FREE CASH BALANCES & APPROPRIATIONS •$5.13M Certified Free Cash as of June 30, 2023 •$3.34M Free Cash approved at Fall 2023 Town Meeting (includes Millstone Rd) •~$480k Proposed Free Cash Expenditures for Spring 2023 Town Meeting •$1.3M Year-end Free Cash Balance if all capital approved in Spring 2024 (2.4% of annual GF operating budget)* * Target is 2-2.5% per Financial Reserves Policy 01/31/2024 CHANGING THE NARRATIVE... WITH CAPITAL STORIES •Finance Team launched Open Gov platform in Winter 2022, starting with FY23 operating budget •Goal of continuing to make budget information and processes more accessible and transparent •5 Year Capital Improvement Plan (CIP) was added to Open Gov platform in Winter 2023 •Brewster received the 2024 Government Finance Officers Association (GFOA) Distinguished Budget Presentation Award for our FY24 budget, including our FY23-27 CIP •FY24-28 Capital Improvement Plan is now available in Open Gov on Town website: Click this link to go to the FY24-28 CIP capital projects homepage. •Capital stories are organized by department – provide project narratives, proposed funding mechanisms, and anticipated timing details 01/31/24 CHANGING THE NARRATIVE… WITH CAPITAL STORIES 01/31/2024 CHANGING THE NARRATIVE… WITH CAPITAL STORIES 01/31/2024 QUESTIONS? 01/31/2024