RECEIVED NOVEMBER 4, 2008 @ 8:30 A.M
Michele R. Grande, Redding Town Clerk
3 pages
REDDING BOARD OF FINANCE
MEETING
October 27, 2008
Filed subject to approval
Present: Alvarez (Chairman), DeSalvo, Dolan, Kearney, Simeonidis, Viscio
Also present: First Selectman Ketcham, Selectman Takacs, Controller Hutvagner, Treasurer O’Donnell, Tax Collector Moisio, Assessor Ford, Park & Recreation Director Blick, ten members of the public and representative of the Redding Pilot.
Chairman Alvarez called the October 27, 2008 meeting to order at 7:30 pm.
APPROVAL OF MINUTES
Motion: move that the minutes of the September 30, 2008 meeting be approved as submitted. DeSalvo, Simeonidis. Approved. 5-0-1. Mr. Viscio abstained.
EXECUTIVE SESSION
Motion: move to executive session for a discussion of negotiations. Simeonidis, Dolan. Approved. Unanimous. Mrs. Ketcham, Mr. Takacs, Mr. Goldberg and Mr. Barickman were invited to be present.
The meeting recessed at 7:32 pm.
RECONVENE
The Chair reconvened the meeting in public session at 7:50 pm.
REPORT FROM ASSESSOR
Assessor Ford provided a written list of tasks that lead to the completion of the grand list. He added that the assumptions that were made last year are right on track.
REPORT FROM PARK & RECREATION
Park and Recreation Director Blick provided information on the status of revenue & expenses and programs.
REPORT FROM STEVE SOLER OF GEORGETOWN LAND DEVELOPMENT COMPANY
Mr. Soler reported that due to the current economic conditions, especially the bond market, the financing for the infrastructure has not gone forward as planned. Negotiations with the State on the train station and garage are continuing.
Mr. Soler proposed the use of Tax Increment Financing (TIF) with the State of Connecticut and the town of Redding as a means of getting the project moving and having the town be a participant in the project. This program is geared to stimulate economic activities. The TIF program has the town of Redding forgoing anticipated tax revenue of $350,000 for 15 years. Should the project default of fail, the state will wait for the money.
Board members discussed the proposal and requested further review by counsel. The primary concern was the risk factor and the nature of the Town’s commitment to the project.
A special meeting was scheduled for Monday, November 3, 2008 at 7:30 pm to discuss the proposal further.
2008 YEAR TO DATE FINANCIAL STATEMENTS & CONTROLLER’S REPORT
Mr. Hutvagner submitted a written report. Blum Shapiro, the auditors, provided a preliminary draft copy of the General Fund. Representatives of Blum Shapiro are scheduled to attend the November meeting.
The Town’s energy conservation hours have been extended to April 2009 for Town offices/departments with the exception of Police, Highway, and Recycling/Transfer Station. Public response to the 4-day work week has been very positive and town employees are happy with the hours.
REPORT FROM TREASURER RE: FINANCIAL ADVISOR
Mrs. O’Donnell reported the Town has financing rollover scheduled for January 2009.
REPORT FROM TAX COLLECTOR
Mrs. Moisio reported that tax collection is doing well. Reminder notices of the January payment will be mailed out in November. Along with the reminder will be information on the ACH payment option (direct payment through checking account) and the opportunity to use Point & Pay credit card payment.
BOARD MEMBER REPORTS
Mr. Alvarez asked board members to comment on the upcoming budget season.
Mr. DeSalvo reported the Region #9 High School enrollment has Redding’s share of the budget down by 0.02% for next year. He added that the Town of Easton Board of Finance issued a letter requesting that staffing increase not exceed 3%, and if they did, there should be reductions in overtime or elimination of positions. He requested the departments continue to use zero based budgeting.
Mr. Simeonidis added that we must recognize the economic conditions, but would not want the board to be number driven.
Mrs. Kearney stated that the joint meeting with the Board of Selectmen and Board of Education was a necessary part of the process. In addition to the zero based budgeting, she also asked that the things existing in the budget be reviewed to see if some could be eliminated or changed.
Mr. Dolan asked if the budget meeting dates had been established. Mrs. Ketcham responded that the dates have not been set. Board members felt the Saturday budget workshop was preferable to the weekday sessions.
Mr. Viscio commented that the budget process is long and slow, and this is a very fluid economic time. The board will need to respond to changes.
Mr. Alvarez commented that the board serves as a guiding board, not a dictating board.
A tentative date of December 15, 2008, at 7:30 pm was set for the joint meeting of the Board of Finance, Board of Selectmen and Board of Education. The location of the meeting will be determined by availability of space.
EXECUTIVE SESSION
Motion: move that the Board of Finance recess to executive session for a discussion of litigation, personnel and negotiations. DeSalvo, Simeonidis. Approved. Unanimous. Mrs. Ketcham and Mr. Takacs were invited to be present.
The meeting recessed at 9:50 pm.
RECONVENE
Chairman Alvarez reconvened the meeting in public session at 10:30 pm.
ADJOURNMENT
Motion: move to adjourn. DeSalvo, Dolan. Approved. Unanimous.
The meeting was adjourned at 10:30 pm.
Respectfully submitted,
Mary Maday, Recording Secretary
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