Finance Committee Page 7
March 2, 2016
Alderman Siegel
| understand in the long-term you can look at the balance sheet and say well Nashua is really good and we
have an 11% reserve and that’s great but year-to-year we have to do this path so year-to-year we have to
make a budget to account for this. As those numbers fluctuate beyond our control, something has to give.
That’s a big concern and that’s what makes it so much fun to sit here.
Mr. Mcintire
| understand.
Mayor Donchess
If our portion of the state pension fund is 5% and if we are at $195 million net liability that | think means that the
net liability of the whole system is 20 times that or $3.7 billion approximately, is that roughly correct?
Mr. McIntire
I’m not able to process the math that quickly. The math sounds like it makes sense to me and | haven’t done
the calculation. | think your underlying premise of what you are thinking is proper.
Mayor Donchess
Thank you very much for coming in and informing us about the audit.
MOTION CARRIED
From: Dan Kooken, Purchasing Manager
Re: Contract Award for Field Day and Fireworks (Value: $14,500)
MOTION BY ALDERMAN SIEGEL TO ACCEPT, PLACE ON FILE AND AWARD THE CONTRACT TO
ATLAS PYRO-VISION ENTERTAINMENT GROUP, INC. IN THE AMOUNT OF $14,500. FUNDS ARE
AVAILABLE IN DEPARTMENT 177, PARKS AND RECREATION; GENERAL FUND; 55, OTHER
SERVICES
ON THE QUESTION
Alderman Clemons
Just for a quick clarification, in reading this it looks like this is a multi-year contract, is that the case?
Mr. Kooken
We have an option for a second and third year but right now we are only at the first year and we may not take
the option for the second or third year. We can put it back out to bid next year.
Alderman Clemons
Okay so we are not committed to all three? It looked like they were giving us the discount if we went for all
three years but that’s not the case.
