Minutes

Finance Committee - 3/15/2017 Page 6
Alderman Cookson

Maybe we can follow up and have an additional discussion. | can put my questions in writing and get the
opportunity to get the response well thought out.

Mayor Donchess

Why don’t you send an email to Mr. Griffin.

Alderman Cookson

Happy to. | just have one last question. On page 40, the $900,000 and the $700,000, the first one going to

pension and the second one going to CERF, that was under Mayor Lozeau’ s or was that you, Mayor? Was
that your first budget?

Finance Committee - 3/15/2017 Page 5

Mr. McIntire

It’s actually over on page 38 in the first column of numbers. You see your total expenditures of $253.8 million.
Alderman Cookson

So $253.8 million is the denominator. Your unassigned $28 million is going to be 11 percent of that $253.8
million?

Mr. McIntire

Yes.

Alderman Cookson

That’s the calculation you’re using to determine the percentage?

Mr. McIntire

Finance Committee - 3/15/2017 Page 4
Alderman Cookson

The investment returns, what are we seeing historically from the New Hampshire Pension System?

Mr. McIntire

Finance Committee - 3/15/2017 Page 3

came from motor vehicle collections. You also had some strong building permit revenue as well as some
rental income that contributed to the collection of $6.1 million more in revenue than the budget anticipated.

Finance Committee - 3/15/2017 Page 2

obligation. Both of those liabilities are estimated but they are actuality determined. There is this whole set of
standards that your actuary uses in developing those estimated liabilities that are presented in your financial
statements.

REPORT OF THE FINANCE COMMITTEE
MARCH 15, 2017

A meeting of the Finance Committee was held on Wednesday, March 15, 2017, at 7:00 p.m. in the
Aldermanic Chamber.
Mayor Jim Donchess, Chairman, 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

Members not in Attendance: Alderman Ken Siegel

PUBLIC COMMENT — None
COMMUNICATIONS

Finance Committee — 4/5/2017 Page 6
UNFINISHED BUSINESS — None

NEW BUSINESS — None

RECORD OF EXPENDITURES

MOTION BY ALDERMAN SIEGEL THAT THE FINANCE COMMITTEE HAS COMPLIED WITH THE CITY
CHARTER AND ORDINANCES PERTAINING TO THE RECORD OF EXPENDITURES FOR THE PERIOD
MARCH 10, 2017 TO MARCH 30, 2017

MOTION CARRIED

PUBLIC COMMENT - None

GENERAL DISCUSSION

Alderman Wilshire

The parking revenue downtown, what is the decline in that fund since Alec left? Do we know what impact that
might have had, if any?

Finance Committee — 4/5/2017 Page 5

Mr. Cummings

That’s an excellent point. We'll make sure that we do do that moving forward. | don’t know to answer your
question, but we will definitely look into that.

Alderman Caron

| really think it’s important that you are not competing with each other. Also, they do have a lot of sponsors that
work with SummerFun for different events. | think it would be a great hand-in-glove. It was for a long time and
| would like to see that continue, but | am excited. | really think it’s great. Thank you.

Finance Committee — 4/5/2017 Page 4

Alderman Siegel

| very much support this event. I’ve spoken with Ben about it myself. It’s very good. What's the situation with
sponsorships for the event that is being sponsored by this, the first one? Do you have active sponsorship right
now?

Mr. Ruddock

Finance Committee — 4/5/2017 Page 3
Alderman Clemons

Just for the record, they do care about your boat because if you remove the boat from the water and go to
another waterway without cleaning your boat, you are going to spread it to that waterway. That’s a good way
to get milfoil all across the state. So, it is very important to understand that keeping this under control in the
river, which is very popular with boaters and fishermen, is very important to the rest of the state as well. Thank
you.

MOTION CARRIED