By Betsy Thurston
THE SHOPPER
BELLOWS FALLS, Vt. — The Bellows Falls Village Trustees discussed the village’s finances and vacancies with the Municipal Manager Scott Pickup and moved to set a 2 percent rate increase on water and sewer.
At the Tuesday, Sept. 14, meeting, Pickup said the Bellows Falls Police and Water departments were hiring and the Finance Committee was interviewing this month for a new finance director. He said there was a “tremendous amount of work” to prepare for the preaudit and the “goal was to have [a finance director] on board in October.”
James McAuliffe explained that Cynthia Stoddard of New England Municipal Resource Center was there only two days a week. He had hoped for an updated schedule of debt for water and sewer funds “that apparently is not quite ready.” He agreed it was key to hire a new finance director and said, “Scott is working hard on that.”
Pickup said one of the reasons Stoddard had not released draft financials for 2020 was that “We wanted to review those with the auditor” before releasing them. He said the delays were a result of benefit concerns, active retirement, and issues with revolving loan fund postings.
Pickup admitted there was “no malfeasance in terms of missing money…just things were not appropriately posted.”
He explained the history of sewer and water bonds and the confusion on some of the bonds they were paying that had negative interest. By refinancing the loan, it annualized and leveled the payments and removed a 2% administration fee. The new schedule would add an additional $133,000 per year through 2048.
Pickup explained that the debt benchmarking enabled the village to “look at where we are, compared to our peer group, which is part of what the bond bank puts together for us.” He added, “We have work to do.”
Pickup said it was helpful to ensure “We don’t overextend ourselves” and that it shows how the village invests on infrastructure and capital. He added that the village was meeting operations and exceeding targets on revenue. The problem, he said, is it’s “being undercut by some of these longer term debts.”
Pickup said, “We want to try to improve our position relative to the debt we have already assumed…to maintain the system and keep providing water and sewer services at a reasonable rate.” He recommended a 2% rate increase on both water and sewer.
Stefan Golec asked when the request would take effect. Pickup said it would begin on the next billing cycle, Oct. 1.
Stefan Golec commented that Pickup’s presentation was articulate. He moved to accept the manager’s recommendation for the rate increase of 2% for both water and sewer.
Village President Deborah Wright agreed, “Every effort is being made to clean up our funds.”
The board passed the motion unanimously.
Later in the meeting, Wade Masure invited the community to the documentary “Called To Duty,” the story of the Star Hotel Fire Thursday, Sept. 23 at the Bellows Falls Opera House. This December is the 40th anniversary of the fire that took the lives of Bellows Falls firefighters Terry Brown and Dana Fuller.
Masure said families of those involved and fire personnel are invited to attend a private showing at 5 p.m. The public is invited to attend at 7:30 p.m. This is a fundraiser for the Brown-Fuller Memorial Park on the square in Bellows Falls and admission is through donation.
The Village Trustees meet on the second and fourth Tuesdays of each month at 6 p.m. in the Lower Theater of the Bellows Falls Opera House.
As your daily newspaper, we are committed to providing you with important local news coverage for Sullivan County and the surrounding areas.