Town manager outlines rec‑center financing options, bank RFP and key fiscal metrics

During the town manager's report on June 22, the town manager, Evan, updated the Select Board on financing and banking work tied to the planned recreation center and routine fiscal management.

Evan said he has been speaking with John Simko of Androscoggin Bank about potential bridge‑loan financing for the rec center and about how banks evaluate municipal finances. "Auditors want to ensure that worst‑case scenario, you're able to fulfill your mission," Evan said, noting auditors are recommending around 120 days of undesignated fund balance while the town policy is 45 days. He urged the board to position the town for temporary borrowing if needed and to maintain metrics that show operational stability.

He provided numerical context used in bank conversations: total town debt listed in the town report at $2.5 million and the most recent census population of 3,994, which he said produces a debt ratio of roughly $637 per resident. He also said the town could raise about $1.425 million by increasing the mill rate by $1 (a standard local test figure banks use). Evan said a formal bid package for site work and the steel building for the rec center is nearly complete and recommended soliciting bids widely and holding a mandatory pre‑bid meeting.

Evan also described efforts to move the town's operating accounts to a different banking arrangement that would spread FDIC insurance risk across partner banks and provide better reporting, higher interest and a courier pickup service to reduce staff travel. He reported the school assessment and county assessment numbers were close to budgeted estimates and noted staffing and operational items (Fire/EMS call counts, clerk window hours, upcoming tax liens) that will affect near‑term operations.