Financial Advisory Committee Minutes

April 26th, 7:30 PM

NBB Admin Office (45 Keeley Ave)

Call to Order

• The meeting was begun at 7:30PM.

Pledge of Allegiance

Roll Call

• Members Present: Frank Lombardo (Committee Chair), Art Conover (Committee Vice Chair), Joseph Borek, John Wolff
• Members Not Present: Lara La Sala
• Others Present: Sam Bryant (Borough Manager/Treasurer, Committee Secretary),  Jeffrey Gilmore (Council Liaison) arrived mid-meeting

Minutes Approval

• Mr. Wolff motioned to approve the March 2016 Minutes.  Mr. Conover seconded the motion.  The motion passed, with all members present voting in favor.

Unfinished Business – Committee Outreach

• Mr. Borek met with the Nature Preserve Committee.  They are required to contribute $2,500 to the Preserve every year.  Their main goals are for improvements to the Preserve that are covered by the required contribution and rental property revenues.  The main capital concern would be if they were ever involved in land acquisition, which is difficult to plan for.
• Mr. Bryant noted the Burkart Hall Committee was meeting simultaneously to discuss its needs.  Mr. Bryant noted the Borough hoped to work with Delaware Valley University on a Business Incubator on the first floor to help offset maintenance and utility costs.  For the second floor, Mr. Bryant would like to encourage more rentals.  Mr. Wolff provided advice from how Hatfield Township handles rentals of its meeting room.
• Mr. Wolff asked when the Public Safety Committee would meet, to which Mr. Bryant responded tomorrow night.
• Mr. Bryant noted the only Committee that had not been addressed was Parks and Recreation, as Council was still working to create it.  In addition, Ms. La Sala was assigned to work with this Committee, and she has expressed an interest in resigning.
• Mr. Bryant suggested that he could inform each Committee member which budget line items pertained to the Committees they had met with, so numbers could begin being inputted for the five year plan.  The Committee agreed.

Unfinished Business – Grant Opportunities and Corporate Sponsorship

• Mr. Lombardo asked Mr. Bryant about which businesses in the Borough had a positive relationship.  Mr. Bryant said Stephen Barth, the Borough Economic Development Consultant, would provide this information.
• Mr. Wolff noted that Hatfield Township held an annual golf outing that aided local parks.  Mr. Bryant noted that Doylestown Township already did a large golf outing.  Mr. Lombardo suggested the Borough could look into doing this a different time of year.
• Mr. Lombardo then mentioned the annual 4th of July Parade.  Mr. Borek noted the Borough could have a sponsor and vehicles for the event.  Mr. Bryant said he would look into this matter.
• Mr. Wolff asked if the Borough received any sponsorships for its camp.  Mr. Bryant believed it did not, and would check with the camp organizer.

New Business – Borough Banking

• Mr. Bryant thanked Mr. Conover and Mr. Borek for helping him obtain banking proposals.  After reviewing the proposals he would like to recommend to Council that the Borough use Penn Community Bank.
• After discussion, the Committee agreed.  Mr. Borek made a motion to recommend Penn Community Bank to Borough Council.  Mr. Wolff seconded the motion.  The motion passed, with all members present voting in favor.
• Mr. Jeffrey Gilmore, Council Liaison, arrived to the meeting at this time.

New Business – LED Streetlights

• Mr. Bryant provided calculations that showed a worst-case ROI of 14 years if the Borough implemented LED Streetlights.  
• Mr. Conover noted that would be a poor return.  Mr. Borek then noted that the Borough would still exist in 14 years, whereas a business may not.
• Mr. Wolff asked Mr. Bryant to check if the Borough would get revenue from attachments to the streetlight poles.  Mr. Wolff also suggested reducing the pole count by putting LEDs on the traffic signal poles.  Finally, Mr. Wolff recommended the Borough check into using the planned decorative street lights solely.

New Business – 2017 Budget

• Mr. Bryant suggested the 2017 Budget follow a departmental format, instead of listing all revenues and expenditures separately.  Mr. Bryant also provided the budget presentation criteria developed by the Governmental Finance Officers Association (GFOA).  He suggested the Borough follow this criteria to earn the GFOA Distinguished Budget Presentation Award.
• Mr. Bryant then asked about the budget adoption timeline.  Mr. Gilmore noted previous budget work had begun in September/October.  Mr. Wolff suggested the Borough hold a “Goal Setting” meeting prior to establish priorities.  Mr. Gilmore thought that was a good idea.
• Mr. Bryant stated he would create the format before September 1st, so that the Committee could review and begin inputting data.
• In reference to Committee Outreach, Mr. Gilmore requested that Mr. Conover follow up with the Historic Committee about recording information and the costs needed to do so.

New Business – Lara La Sala

• Mr. Lombardo to Ms. La Sala, who confirmed she wished to resign.  Mr. Bryant notified the Appointment Advisory Committee of this resignation and will notify the public by the end of the week.
• Mr. Lombardo recently met a Borough resident who would be interested in the opening.  Mr. Bryant said she should fill out the Volunteer Information Form and return it to the Borough.

Adjournment

• Having no further business, Mr. Borek made a motion to adjourn.  The motion was seconded by Mr. Conover.  The motion passed with all members present voting in favor.  The meeting was adjourned at 9:18PM.