Finance Committee Recap: August 13, 2025

Aug 26

(6-8 minute read)

Watch the full meeting here on RCTV’s Youtube page.

The Finance Committee met on Wednesday, August 13, 2025, to review updates on capital projects, discuss recent expenditures, and begin planning for the fall Financial Forum.

Key Takeaways

Capital projects updates: Town Accountant Sharon Angstrom and Director of Facilities Joe Huggins shared progress on major projects, including RMHS Fieldhouse, Reading Center for Active Living (ReCAL), Killam School, Haven Street improvements, and the upcoming pickleball courts.
Fieldhouse project costs: While the RMHS Fieldhouse bid came in under the $3M approved by Town Meeting, additional related expenses were included, sparking discussion about communication and oversight.
Financial Forum planning: Members scheduled the fall Financial Forum for October 8, with an agenda covering budget planning, borrowing, and a potential override discussion.

Update on capital project expenditures [0:02:16]

ReCAL and Killam debt authorization

Sharon Angstrom explained that the Select Board approved temporary internal borrowing to cover initial costs for the ReCAL and Killam projects until permanent debt is issued in January 2026. The reserves will be reimbursed at that time.

She also clarified a prior miscommunication about the size of the internal borrowing and apologized to the committee. Taking on the permanent debt in 2026 means the tax impact for residents will not begin until FY2027.

RMHS Fieldhouse

The Fieldhouse floor improvements bid came in at $2.683 million - below the $3 million authorization approved by Town Meeting. However, additional funds were spent on related upgrades, such as:

Logos on the court and bleachers, and safety curtains for the bleachers
Protective court covering for voting and events
Structural testing of the slab
Painting the Fieldhouse interior
Electrical work for new motorized bleachers
HVAC duct and ceiling cleaning
New scoreboards, backboards, divider curtains, and batting cages
New equipment to clean the floor surface

Huggins reported the project is expected to finish this week with $15,000-$17,000 in funds remaining.

Assistant Town Manager Jayne Wellman praised Huggins for serving as the Operational Project Manager (OPM), saving the Town approximately $300,000 and an additional 9-11% in project costs.

Still, Finance Committee members expressed concern that the full $3 million debt was taken out despite the bid coming in less. They emphasized the need for clearer communication with Town Meeting about wish-list items beyond the core scope. Huggins acknowledged the feedback and committed to improving presentations in the future.

Pickleball

Pickleball courts are expected to go out to bid in December 2025 or January 2026.

Remaining funds on completed projects

Several capital projects were completed with funds left over, ranging from $13 (RMHS Turf/Track project) to $90,663 (Library renovation). The committee discussed establishing a policy to guide how unused funds should be reallocated.

Upcoming Financial Forum [2:04:01]

The Finance Committee outlined potential topics for the fall Financial Forum:

Community Preservation Act (CPA) Study Committee update
Operating budget and free cash projections
Internal borrowing
Timing of a potential override
Upcoming trash contract proposals
State funding for schools

The committee agreed to hold the Financial Forum on Wednesday, October 8, 2025, with budget recommendations and guidance for FY27 scheduled for October 15.