[Marker]
REDDING BOARD OF FINANCE
MEETING
October 29, 2007
Filed subject to approval
Present: Cotton, DeSalvo, Dolan, Guitar, Viscio
Also present:: Controller Hutvagner, Treasurer O’Donnell, Selectmen Ketcham, Miller & Takacs, four members of the public.
Mr. Cotton called the October 29, 2007 meeting to order at 7:31 pm in the Hearing Room of the Town Office Building
First Selectman Ketcham read a proclamation recognizing Jim Cotton and Mary Ann Guitar for their many years of service to the town of Redding, and declared Tuesday, October 30, 2007 to be Jim Cotton and Mary Ann Guitar Appreciation Day. Mrs. Ketcham presented both with a token of appreciation and cake & coffee was served.
APPROVAL OF MINUTES
Motion: Move to approve the minutes of the September 25, 2007 meeting as corrected. DeSalvo, Dolan. Approved. 3-0-2. Mr. Dolan and Mr. Viscio abstained.
Correction: page 2, under Financial Statements, line 4, change heath to health.
DISCUSSION WITH ASSESSOR ON REVALUATION AND GRAND LIST
Assessor Ford reported the revaluation process is nearing completion. Preliminary numbers indicate a 45% increase in gross assessment. Mr. Ford had just received the numbers and was in the process of reviewing the information. The average residential assessment is up 30%. The increase notices will be mailed out shortly after the Christmas holiday. Informal hearing will be held in January, with the formal appeal process in April. The Assessor has planned a public information program to provide taxpayers with accurate information regarding the revaluation process and impact on property tax.
YEAR TO DATE FINANCIAL STATEMENTS
The financial statements were available for review.
ADMINISTRATIVE MATTERS
Ms. Guitar provided an update from the Mark Twain Library Association. The revenue from the Book Fair was significantly lower than expected, but the increase in revenue from the Frog Frolic made up for that decrease.
Mr. DeSalvo reported that Region 9 will hold pre-application review with the Redding Conservation and Zoning Commissions on the proposed fields project. The latest estimate for the entire project is $8-14 million.
Mr. Cotton and Ms. Guitar thanked Mrs. Ketcham and the Selectmen for the proclamation and party.
EXECUTIVE SESSION
Motion: Move to recess to executive session for a discussion of matters pertaining to litigation. DeSalvo, Viscio. Approved. Unanimous.
Invited to be present: Ketcham, Takacs, Miller, Hutvagner, McHale.
The meeting recessed at 8:05 pm
RECONVENE
The Chair reconvened the meeting in public session at 9:00 pm.
Motion: move that the Redding Board of Finance encumber $55,423 from Special Legal Funds account 113300-5220, as recommended by the Board of Selectmen. DeSalvo, Guitar. Approved. Unanimous.
ADJOURNMENT
The Chair adjourned the meeting at 9:05 pm.
Respectfully submitted,
Mary Maday, Recording Secretary
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