RECEIVED APRIL 24, 2008 @ 9:00 A.M.
Michele R. Grande, Redding Town Clerk
2 pages
REDDING BOARD OF FINANCE
MEETING
APRIL 21, 2008
MINUTES
Filed subject to approval
Present: Alvarez (Chairman), DeSalvo, Dolan, Kearney, Simeonidis,
Also present: First Selectman Ketcham, Selectman Takacs, Controller Hutvagner, Assessor Ford, Treasurer O’Donnell, Tax Collector Moisio, Board of Education Chair Lewson, six members of the community, and S. Wolf of the Redding Pilot
Chairman Alvarez called the Board of Finance meeting to order at 8:22 pm in the Community Center following the Town Meeting.
STATUS OF BUDGET SHORTFALL 2007-2008
Controller Hutvagner reported there has no change since the last meeting.
BUDGET DISCUSSION AND ACTION ON THE 2008-2009 BUDGET
Board members reviewed the current budget requests:
Town budget, $12,155,669, a decrease over 2007-2008 of 3.23%
Redding Board of Education, $19,791,642, an increase over 2007-2008 of 5.77%
Region #9 Bd. of Education, $10,977,960, an increase over 2007-2008 of 3.35%
Total request=$42,925,271.
The restoration of fund balance was discussed.
Motion: Move that the Redding Board of Finance include $750,000 in the operating budget to restore the fund balance. Simeonidis, Dolan. Approved. Unanimous.
The new budget request, with the added $750,000 is $43,675,271.
Mrs. Kearney did not feel the expenditure level was reasonable for the Town given the current conditions. Other board members felt the taxpayers should determine, by their vote, if budgets should be reduced.
Motion: move that the Board of Finance recommend operating budget for fiscal 2008-2008 of $43,675,271. DeSalvo, Dolan. Approved. 4-1. Kearney voted against the motion.
The increase in taxing is 17.24%. The estimated mill rate, pending approval of the operating budget, would be 21.07.
AGENDA ADDITION
Motion: move to add a Public Comment to the agenda. Simeonidis, Dolan. Approved. Unanimous.
PUBLIC COMMENT
James Miller: asked about the use of the potential proceeds from the sale of the Levin property. Mrs. Ketcham reported that a portion would be used to pay the BANS and a portion would go to the fund balance. She will get a request an opinion from bond counsel.
Lewis Goldberg: requested an update on the GLDC development and possibility of income from the project. Mr. Alvarez stated that income derived from activity on the development would go toward restoration of the fund balance. Mrs. Ketcham reported the GLDC project is moving forward with infrastructure roadway work beginning in May, and Mr. Solar expects the transfer of property to begin in the fall, with building permit requests to follow that.
Peggy O’Donnell, Treasurer: stated that the $750,000 allocation for the fund balance is important in the long term for the town.
Jeanne Wendschuh; thanked the Board of Finance for adding the $750,000 for restoration of the fund balance.
Joe Miceli: questions related to the purchase of the Hanssen property and appraised value of the property. Mrs. Ketcham responded that if the appraisal does not come through as expected, the purchase will be off.
ADJOURNMENT
Motion: move to adjourn the meeting. Simeonidis, Dolan. Approved. Unanimous.
The meeting was adjourned at 9:20 pm.
Respectfully submitted,
Mary Maday, Recording Secretary
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