Finance Committee

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

Finance Committee Page 6
March 2, 2016

this up because of the significance of it, it is with purpose that | tried to talk about the long-term perspective
financial statements and this which may be a little bit unfavorable to talk about it but then when you turn to the
general fund and you see the stability; | did try to talk about those as two distinct issues because one may
seem a little more unfavorable but as | indicated earlier the stability in that general fund balance sheet is
certainly a strength.

Finance Committee Page 5
March 2, 2016

Mr. McIntire

Probably, yes. | thank you for that question because | think that it is important for readers and listeners to
understand because it’s such a significant account balance that there is a funding schedule of the city and all
of the underlying employers who are following to help mitigate this liability.

Alderman Siegel

Finance Committee Page 4
March 2, 2016

Alderman Siegel

The unfunded liabilities for pension, that number is large and | assume that is not only the unfunded liability to
make up the gap that we have had at the state level but also the general funding that we have to do to pay for
the pension liabilities that the city has incurred, is that correct?

Mr. McIntire

I’m not sure | understand what you mean by the general fund liability.

Alderman Siegel

Finance Committee Page 3
March 2, 2016

Finance Committee Page 2
March 2, 2016

REPORT OF THE FINANCE COMMITTEE
MARCH 2, 2016

A meeting of the Finance Committee was held on Wednesday, March 2, 2016, at 7:00 p.m. in the
Aldermanic Chamber.

Mayor Jim Donchess, Chair, presided.

Members of the Committee present: Alderman-at-Large Mark S. Cookson, Vice Chair
Alderman-at-Large Lori Wilshire
Alderman-at-Large Michael B. O’Brien
Alderman Benjamin M. Clemons
Alderman June M. Caron
Alderman Ken Siegel

Also in Attendance: Mr. John L. Griffin, CFO
Mr. Dan Kooken, Purchasing Manager

MOTOR VEHICLE JDEALER CYC”) STONEHAM MOTOR COMPANY INC. |
PURCHASE CONTRACT 186 MAIN STREET
FLEET SALES STONEHAM, MA 02180 www.stonehamford.com
LL 781-438-0490 FAX: 781-438-2148 _]
DATE Moree NO, STOCK NO, SALESPERSON
3/7/2016 141685 PAUL J BETTENCOURT
PURCHASER’S NAME(S) (‘I or "Me") STREET ADDAESS
i CITY OF NASHUA 229 MAIN ST
CITVISTATE/ZIP HOME PHONE | BUSINESS PHONE
NASHUA NH 03061 603 589 3333

BID SPECIFICATIONS
1FBO170-030416

TITLE: Ford Transit Connect Wagon XLT

Quantity: 1
Nashua Purchasing Department, 229 Main Street, Nashua, NH 03061

The City of Nashua Purchasing Department invites bids from qualified suppliers for one (1) new and
unused, model year 2016 Ford Transit Connect Wagon XLT.

List the exact manufacturer specifications for the vehicle you are bidding for In each of the

City of Nashua

Office of The Treasurer
- 803
229 Main Street - Nashua, NH 03060 ren pees =

To: Board of Aldermen January 28, 2016
From: David G. Fredette, Treasurer/Tax Collecto:7 \ YG 4 ‘

Re: Purchase replacement for the 2003 Dodge Caravan
Capital Equipment Reserve Fund (CERF)