RECEIVED DECEMBER 18, 2008 @ 9:15 AM
Kerry Miserendino, Redding Asst. Town Clerk
REDDING BOARD OF FINANCE
SPECIAL MEETING
DECEMBER 15, 2008
Filed subject to approval
Present: Alvarez (Chairman), DeSalvo, Dolan, Guffey, Simeonidis, Viscio
Chairman Alvarez called the meeting to order at 7:03 pm.
EXECUTIVE SESSION
Motion: move to recess to executive session to discuss commercial and financial data given in confidence by GLDC. Simeonidis, Viscio. Approved. Unanimous.
The meeting recessed at 7:04 pm.
RECONVENE
Chairman Alvarez reconvened the meeting in public session at 7:35 pm. No action was taken. The Board of Finance will meet on Thursday, December 18, 2008 to discuss and take action on the GLDC proposal for Tax Incremental Financing
Present: Alvarez (Chairman), DeSalvo, Dolan, Guffey, Simeonidis, Viscio
Board of Selectmen: Ketcham, Takacs, Miller
Redding Board of Education: Lewson, Barickman, Gaspar
Region #9 Board of Education: Stone, Poltrack, Hocker, Lewis, Logie
School administrators: Fossbender, Mas, Sullivan
Also present: Treasurer O’Donnell, six members of the public and representatives of the Redding Pilot and Danbury News Times
APPROVAL OF MINUTES
Motion: move that the Board of Finance accept the minutes of the November 24, 2008 meeting as corrected. Simeonidis, DeSalvo. Approved. Unanimous.
REPORT FROM MARK TWAIN LIBRARY
Ann Andrews, along with Heather Martin, Bob Morton and Jen Wastrom, presented an update on the financial status and budgeting information on the Mark Twain Library. Ms. Andrews reviewed the services offered by the library and the plans for budgeting for the next fiscal year. The current year funding for operational expenses by the Town of Redding is 62%.The remainder of the expenses are funded through various fund raising activities and donations.
DISCUSSION OF BUDGET PARAMETERS WITH REDDING BOARD OF EDUCATION, REGION 9 BOARD OF EDUCATION AND THE BOARD OF SELECTMEN
Chairman Alvarez began the discussion stating that he anticipates no growth in revenue from taxes and potentially a decline in revenue due to depreciating assets in the next fiscal year. Potential revenue from the GLDC is not anticipated in the next fiscal year.
Board of Selectmen: First Selectman Ketcham reported that the operating budget for the current fiscal year is 3.8% below the previous year. She has requested the Town’s department heads to include no new initiatives, but has asked them for a new category listing of items for future consideration. Her primary concerns are for the police vehicles and Highway Department road work. The police vehicle replacement program has been in suspense for the past three year and some of the vehicles are in need of replacement. She asked the BOF to consider including the purchase of three vehicles in the next budget or include the purchase as a capital expense for bonding in September.
Highway Superintendent Sanford reviewed the road reconstruction work that has been ongoing. The next three roads scheduled for work are Great Pasture, Cross Highway and Newtown Turnpike, approximately $2,900,000. In addition, some of the equipment is in need of replacement. The roadway work and equipment replacement need to be in the operating budget or capital budget.
Redding Board of Education: Chairman Lewson reported the Board of Education is committed to holding down spending. The enrollment projections indicate a decline in enrollment, especially in the lower grades, and that may yield some savings. In addition, a committee of ER9 is investigating health care options; the heating/diesel fuel prices have been locked in, and the Central Office budget increase is at 1.99%. Enrollment projections for all three schools were discussed.
Region 9 Board of Education: Chairman Stone echoed the comments of Mr. Lewson. The Region 9 Board of Education anticipates including no capital items in the budget.
Following further general discussion, the joint meeting was adjourned at 9:25 pm
DISCUSSION AND ACTION ON FINAL ALLOCATION OF GAS PURCHASES FOR THE 2009-2010 BUDGET YEAR
Mr. Alvarez reported Chief Fuchs has requested that fuel prices for the remainder of the 2009-2010 budget year be locked in at this time.
Motion: move that the Redding Board of Education authorize the Controller, Larry Hutvagner, and Police Chief Fuchs to lock in prices for gasoline for the remainder of the 2009-2010 fiscal year. Dolan, Simeonidis. Approved. Unanimous.
BOARD MEMBER COMMENTS
Mr. DeSalvo expressed a concern about revenue flow and how the Board of Finance would react to a potential shortfall. Board members discussed the need for more information before considering options and continual revenue of the revenue reports.
ADJOURNMENT
Motion: move to adjourn. DeSalvo, Dolan. Approved. Unanimous.
The meeting was adjourned at 9:44
Respectfully submitted,
Mary Maday, Recording Secretary
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