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MONTHLY MEETING, JANUARY 8, 2008 The Board of Trustees of the Kennebunk Sewer District held its monthly meeting on Tuesday, January 8, 2008 in the conference room of the District offices located at 71 Water Street in Kennebunk. Trustees present were: James A. Oppert, Chairman John E. Price, III, Vice Chairman Robert J. DiCarlo, Treasurer Peter G. Booth, Clerk Robert C. Wellman AGENDA AGENDA: 1. Reading of the minutes from the Tuesday, October 2, 2007 monthly meeting 2. Patriot’s Day Storm – progress report on repairs to the Treatment Facility 3. Capital Improvement Program for 2007-08 4. 2008 Budget – discussion 5. District Investment Policy – discussion 6. Other business… DISCUSSION Item #1: Reading of the minutes from the December 4, 2007 monthly meeting The meeting was called to order by Chairman Oppert and the minutes of the December meeting were read. It was moved by Wellman and seconded by DiCarlo that the minutes of the December 4, 2007 meeting be accepted as presented. Vote: 5-0 Item #2: District Investment Policy – follow up to December 4, 2007 discussion with Donald Talbot – Berry, Fowles & Co. Booth asked Emmons what investment options are available to the District. Emmons replied that they are governed by state law. Investments outside of U.S. Treasury securities have limitations. Corporate bonds, for example, must have an AAA rating. In addition, only a certain percentage of a specific sum of money can be invested in that type of instrument. Emmons said investments may be made in bonds issued by any state as long as the bond carries a specific rating. He was uncertain whether the rating is A or AAA. Booth asked whether the Board has a policy for investments. Emmons replied that, in the past when the plant upgrade was being planned, the Board decided to invest the accumulated impact fees in Treasury bills and turn them over at maturity up to the time when the upgrade would be done. DiCarlo said since there is currently little difference between Treasury, Rivergreen, and MBIA rates, he recommends, in addition to reducing the number of accounts, moving more funds into MBIA because of the liquidity and ease of transfer. At Oppert’s request Booth and DiCarlo agreed to look into investments and reducing the number of accounts. They will then make recommendations. Emmons will call MBIA for information on their program and will invite them to appear before the Board if desired. Emmons said the annual audit will be done February 22, 23, and 25. It should be available in early March. Emmons will arrange for Don Talbot to meet with the Board and discuss the audit. Item #3: Patriot’s Day Storm – progress report on repair to Treatment Facility Emmons told Trustees the HVAC contract is 98% complete. He enclosed the last pay requisition for the project amounting to $165,305.00. Emmons is pleased with the work done by W. H. Demmons and finds the system working well considering its limitations. Some odor problems remain relating to units installed during the upgrade. John Edwards was asked to perform a critical review of the system. His report was received today and is being reviewed. It will be shared with Woodard & Curran who are expected to push SMRT to make corrections. Emmons said KSD’s FEMA funds are at MEMA. He will begin work on a pay requisition this week. Oppert directed Emmons to seek more help managing the paperwork if needed. The wetlands delineation has been delayed until the snow pack is gone. Forrest Bell Assoc. has been hired to do the work. Emmons has kept the Kennebunk Land Trust informed of the status. The next project on repairs from the Patriot’s Day storm will be the water process system. Item #4: 2008 Budget and Rate Hearing – discussion Emmons told Trustees the bids for chemicals have not increased significantly. He has sought information from a number of people to enable him to make a more accurate estimate of energy related expenses for 2008. Indications are that #2 fuel oil will be $3.00 per gallon beginning with the next bid in July, or about $ .70 more than the current rate. Sharon Staz believes Kennebunk Light and Power rates will remain stable throughout the year. The District will work with KK&WWD, KPL, and possibly the town, to find a source for fuel for trucks and vehicles. Emmons will speak with a number of local insurers and request bids to review prior to policy renewal dates in May and June. The budget reflects a 3-4% increase depending on water rates. These will be available sometime in January. Emmons raised the matter touched on in December of the three components of the sewer bill (fixed debt retirement, fixed O&M, and variable O&M) increasing at different rates from what has been billed. The KSD Charter requires the Board to set fees sufficient for the District to fulfill its obligations to its customers but gives no guidance on how user fees must be structured. Emmons said he will work out several proposals for realigning the costs which can be discussed at the February 5, 2008 monthly meeting. Booth suggested holding the rate hearing on March 4, 2008 when the monthly meeting is scheduled. Item #5: Other Business… Emmons said he has written to Mr. McNelis denying his request for abatement of the sewer charges for the two units in the Farragut Development which were occupied for at least two years without the Sewer District’s knowledge. The Board declined to hears his case if he asks. It was moved by Booth and seconded by Price that the W. H. Demmons pay requisition in the amount of $165,305.00 be paid. Vote: 5-0 There being no further business to come before the Board at this time it was moved by Wellman that the meeting be adjourned. Peter G. Booth, Clerk |