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HomeMy WebLinkAbout2018-03-19 Finance Committee Minutes FINANCE COMMITTEE MINUTES March 19, 2018 (Immediately Following Government Operations Committee) Councilors in Attendance: Tremble, Sprague, Nichols, Graham, Weston, Nealley School Committee Members in Attendance: Hawes Staff in Attendance: Cyr, Conlow, Wardwell, Little, Webb, Kochis 1. Bids/Purchasing a. Request to Extend Contract with New England Salt for FY 19 Rock Salt Staff reviewed the offer from its current supplier to extend the current price for rock salt for FY 2019. The supplier price is very competitive when compared to what other entities are paying. New England Salt is the nearest vendor providing this product. Motion was and made seconded to recommend extension of the contract to the City Council, motion passed unanimously. 2. Presentation of FY 17 Audit – Runyon Kersteen & Ouellette Representatives of the City’s Independent Auditors provided an overview of the result of FY 2017 to the Finance Committee. The overview consisted of a review of the types of reports issued; financial statements, Federal and State reports as well as the letter of recommendations. They reviewed their presentation of the City’s general fund balance sheet and income statement and addressed questions from the Committee. A complete copy of the presentation as well as all the reports reviewed are available on the City’s website. The reports can be accessed via the Finance Department page. In addition, the reports are available on the City’s public document portal. An order to accept the annual financial report will be presented at the next Council meeting. Meeting adjourned 6:42 pm