Budget committee approves minutes; hears town finance update including cruiser lease and $2.77M bond for transfer station and solar

The Hollis House Budget Committee approved the May 12 meeting minutes and received an update on town finances at its June 9 meeting.

Chair Tom Guillen called the meeting to order and noted a clarification to be included in the posted minutes regarding part-time rec director benefit eligibility; the committee then voted to approve the minutes unanimously. "I just wanna make sure it's in the minutes," Guillen said when seeking the clarification to be posted online.

Why it matters: committee members reviewed near-term budget impacts and capital plans that will affect fiscal planning and upcoming bond and lease decisions.

Town finance staff reported the town’s operating budget is about 37% expended through May, tax bills have been mailed and are due July 1, and auditors are conducting field work. The town secured a three-year capital lease for two police cruisers at a rate of 4.44%, producing an annual payment of $40,005.87. "We secured a capital lease for the 2 cruisers ... the town received a rate of 4.44%. That'll be an annual payment of $40,005.87," a town staff member reported.

Select Board action and bond: staff said the Select Board approved a loan agreement with the New Hampshire Municipal Bond Bank and the bond sale for projects is scheduled for July 15. The bond covers transfer station retaining-wall reconstruction and solar panel installation at the DPW; staff reported a total bond amount of $2,770,000. Committee members asked for follow-ups on project timelines and budget detail; staff said the transfer station retaining wall work is underway and on target for mid-to-late September completion, while solar installation is contracted but not yet underway.

Expense-attribution report: the committee discussed an "expense-attribution" style report (a compound annual growth rate view) to help taxpayers see which aggregated service categories have driven expense growth. Members debated choice of base year, category aggregation (for example, how employee benefits are shown) and adjustments for capital moved to the capital committee. Several members supported using fiscal-year 2010 as a consistent base and documenting inflation and revaluation adjustments.

What’s next: staff said they will follow up with the energy committee on the solar schedule and continue refining CIP entries for the committee’s first pass due July 13. The committee will review the initial materials and reconvene for the next budget passes in July and later in September.