Present: Chairman Donald T. Bates, Jr., Vice Chairman Danette Gonsalves, Clerk George Cavanaugh, and Superintendent Craig Wiegand

Also Present: Town Treasurer David Ryan, Selectman Ed McManus, and Harry McCafferty

Meeting called to order at 8:15 AM by Chairman Bates.

Report given by David Ryan regarding free cash. Refer to handout. 1.2 million free cash = 3.1%. October position of Water Department balance sheet is cash of $211,920.37. Water revenue goes into a special revenue fund (business fund). If cash balance goes to zero - you are out of money. Inter-fund borrowing is possible if necessary. ($565,000 expenses, 78,000 revenue = -283,041.56). Last of the bills have just gone out.

2-1/2% override? Layoffs possible. Suggestion that Water Department should take all direct charges from the town in order to prevent employee layoffs. This could be made up for by increasing water rate base charge by $30.00. This would allow the Department to maintain the current staffing level.

Direct costs $300,000.00 - fuel, insurance, property and liability taxes and health insurance. Possibility of relieving the town of $300,000 with this.

Motion by George Cavanaugh to approve minutes of October 19, 2004. Seconded by Danette Gonsalves. Unanimous vote to approve.

Request for abatement for service #4595 denied.

Decisions from Board of Appeals reviewed. $75.00 from petty cash approved to record paperwork per motion by George Cavanaugh. Seconded by Danette Gonsalves.

New tank update: Pouring foundation now. Roads are in. Water mains in. Work is now completed until March, 2005.

Superintendent's Report:

Five water main projects are going out for bid. $75,000 grant from Cape Compact Light. Bids for 5 wells going out also. Will save 2% to 3% in electric costs for next year. Contract for generators and transfer switches going out to be online by May 15th.

Meter for Sykes & Sykes office was at certification lab. Regan analysis going out.

Budget = $2.137 million

1. Include 4 seasonal employees @ 16 weeks each.
2. $205,333 principal & interest on debt.
3. 12.5% on direct costs = $38,090.13
4. New source
5. Generators

Ed McManus spoke regarding Selectmen's policy manual.

Request for policy updates from the Water Department.

Motion to adjourn at 9:22 PM.

Donald T. Bates, Jr., Chairman
Danette Gonsalves, Vice Chairman
George Cavanaugh, Clerk
Craig Wiegand, Superintendent
Carol M. Connor, Secretary