Vassalboro Board of Selectmen
Minutes of the Meeting
March 12, 2015

Members Present: Rob Browne, Lauchlin Titus, and Phil Haines

Others Present: Mary Sabins, Matt Weaver, Mary Grow (6:20), and Jen Fortin (6:30)

1. Call to order – The meeting was called to order by Chairman Haines at 6:00 p.m.

2. Minutes – On a motion made by L. Titus, seconded by R. Browne, the Board voted unanimously to accept the minutes of the 2/26/15 meeting as written.

3. Investment Advisor Matt Weaver provided handouts with graphs and pie charts depicting the progress of the Town’s conservative investment portfolio, which produced a profit of 2.18% net of fees last year. All agreed this return was better than what would have been, had the funds been invested in Certificates of Deposits. The Town’s investment policy was also discussed; Matt stated his firm was in compliance with the policy as written and he recommended that the maximum thresholds for investment (25% equity; 75% fixed income) be written into the policy. The Board postponed taking any action on renewing the policy until the next meeting after those changes to the policy are inserted.

4. Audit Services – The Board reviewed the summary of the two audit bids received. After brief discussion and on a motion made by L. Titus, seconded by R. Browne, the Board voted unanimously to accept the recommendation of the Town Manager and to award the audit bid to the low bidder RHR Smith & Company of Buxton, ME for $7,000 for the audit and $2,000 for the Single Audit if needed.

5. Quitclaim deed – On a motion made by L. Titus, seconded by R. Browne, the Board voted unanimously to sign the Quitclaim deed for Linda Jean Williams to return her tax acquired property back to her after receiving all three years of taxes owed on her property.

6. Quitclaim deed - On a motion made by L. Titus, seconded by R. Browne, the Board voted unanimously to sign the Quitclaim deed for William & Sharon Coolahan for property on Arnold Road listed on the town tax maps as Map 16B, Lot 31. It was recently discovered by a land surveyor that the Town acquired this property through tax lien foreclosure in the late 1960’s. Mr. & Mrs. Coolahan’s cottage property abuts this property.

7. CRLA request for Alewife Harvest Reserve funds – After discussion, and on a motion made by L. Titus, seconded by R. Browne, the Board voted unanimously to include an article in the Town Meeting Warrant, and to recommend for voter approval, giving $38,000 of the Alewife Harvest Reserve Funds to the China Region Lakes Alliance (CRLA) for use toward the China Lake Alewife Restoration Project. When the project is successful, the number of alewife coming up Outlet Stream will increase over time, resulting in larger numbers of alewife to harvest and increased revenue to the Town.

8. Reportsa. Road Report - On a motion made by L. Titus, seconded by R. Browne, the Board voted unanimously to accept the report as presented. b. Police Report - On a motion made by L. Titus, seconded by R. Browne, the Board voted unanimously to accept the report as presented. c. First Responders Report - On a motion made by L. Titus, seconded by R. Browne, the Board voted unanimously to accept the report as presented.

9. Treasurer’s Warrants – On a motion made by L. Titus, seconded by R. Browne, the Board voted unanimously to approve warrants #56 and #57.

10. Other1. The Board approved the amount of $7,900 for the recreation field mowing contract that Sabins is about to enter into with a mowing contractor. 2. Chairman Haines stated he will not be at the Budget Meeting to discuss the school budget next week as he has a family medical emergency out-of-state that he must attend to.

11. Adjourn – There being no further business to discuss, the meeting was adjourned at 6:45 p.m. A budget committee meeting was scheduled to begin at 7:00 p.m. following this meeting.

/mss

These minutes were read and accepted by the Board of Selectmen on 3/26/15 with the following amendments: None.