RECEIVED AUGUST 3, 2009 @ 8:30 A.M.
Michele R. Grande, Redding Town Clerk
3 pages
REDDING BOARD OF FINANCE
REGULAR MEETING
July 27, 2009
Filed subject to approval
Present: Alvarez (Chairman), DeSalvo, Guffey, Simeonidis, Viscio
Also present: First Selectman Ketcham, Controller Gniadek, Treasurer O’Donnell, Tax Collector Moisio, and ten members of the public.
APPROVAL OF MINUTES
Motion: move to approve the minutes of the June 22, 2009 meeting as corrected. DeSalvo, Guffey. Approved. 4-0-1. Viscio abstained.
Correction: The meeting recessed at 8:24 pm
DISCUSSION OF DRAFT OF ASSESSMENT AND RECOMMENDATIONS FOR FINANCIAL OPERATIONS BY LRS CONSULTING
Chairman Alvarez suggested the board discussion of the draft document should be conducted in executive session as it relates to personnel matters.
Motion: move that the Board of Finance add an executive session to the agenda for a discussion of issues related to personnel. DeSalvo, Viscio. Approved. Unanimous.
YEAR TO DATE BUDGET REPORT AND CONTROLLER’S REPORT
Controller Gniadek submitted a written report for review. The 08-09 fiscal year is in the process of being closed out. Revenue is projected to be $23,000 above budget. Expenses are estimated to be $514,000 below budget. The result is an additional $537,000 addition to the fund balance. This brings the total fund balance to approximately $1,500,000.
Mr. Gniadek’s report also included:
1. Finalization of the medical insurance plan, with no impact on the budget.
2. Eligibility for Energy Efficiency Conservation Block Grant from the federal government for $50,597 to be used for improving efficiency and/or installing renewable energy. The proposal for use of the funds must be submitted by September 15, 2009.
3. Northeast Utilities presented various incentives available to the town, i.e., variable speed A/C motors, light motion detectors and LED bulb replacement for traffic lights.
4. Attendance at the EZIQC meeting on Construction Procurement. The program meets all competitive requirements and utilizes local, experience, professional contractors. The cost effectiveness will be tested on a couple of small projects.
5. Blum Shapiro will have the Draft audit report available for review at the October 26, 2009 meeting. Representatives of Blum Shapiro will be present for the meeting.
Mr. Simeonidis suggested the board have a discussion on the desired goal for the fund balance. Mr. Alvarez was in agreement and will schedule the discussion for the August meeting. Mr. Alvarez noted that the general guideline is between 5% and 10%. Treasurer, Peg Sullivan, stated that the bond consultant is currently recommending 9% due to the economic conditions.
REPORT FROM TAX COLLECTOR
Tax Collector, Patricia Moisio, reported that tax income is coming in nicely. She added that the weekly meetings of the Assessor, Controller, First Selectman and Tax Collector to review changes continue.
REPORT FROM TREASURER
Treasurer, Peg Sullivan, reported a meeting of the Long Range Capital Planning Committee is scheduled and a report will be available for the next meeting.
REPORTS FROM BOARD MEMBERS
Mr. Simeonidis reported the school Superintendent Search is underway with a new process in place. The plan includes a recommendation of finalist candidates some time mid-September.
UPDATE ON GLDC
Mr. Guffey reported he spoke with GLDC’s Steve Soler regarding the status of the project. Mr. Guffey’s discussion was as a resident, not a representative of the Board of Finance. Mr. Soler indicated he was not pleased with the current progress and the problems with the state process and the bond requirements for the work on the two intersections.
Mrs. Ketcham added that some money is available through the regional planning agency, HVCEO. She is hopeful that the State Traffic Commission will schedule a special meeting to consider the issue.
PUBLIC COMMENT
James Miller, Middlebrook Pond Road: question on the terminology on the Controller’s Report, the Revised Budget. Mr. Alvarez noted that the Revised Budget is the Approved Budget, and asked Mr. Gniadek to change the heading. Mr. Miller also commented on the Northeast Utilities incentive for variable speed A/C motors may not lead to greater efficiency and suggested that the Town’s engineers be consulted on the issue. Mr. Miller also reported on his correspondence to Governor Rell regarding the use of the stimulus funding to purchase hybrid diesel buses.
State Senator Toni Boucher was in attendance and commented the State’s use of the stimulus funding. She commented that it was wonderful to see the Board of Finance in action and addressing the financial needs and planning of the town.
Steve Martin, Mountainview Drive: comments related to the fund balance and need for long term planning. He asked if there was any action on the sale of the Levine property. Mrs. Ketcham responded that there has been a lot of action/viewings, but no offers as yet.
EXECUTIVE SESSION
Motion: move to executive session of a discussion of the personnel related issues. DeSalvo, Guffey. Approved. Unanimous.
Mrs. Ketcham, Mr. Gniadek, and the LRS representatives were invited to be present.
The meeting recessed at 8:30 pm
RECONVENE
Chairman Alvarez reconvened the meeting in public session at 9:58 pm
ADJOURNMENT
Motion: move to adjourn. DeSalvo, Guffey. Approved. Unanimous.
The meeting was adjourned at 9:58 pm
Respectfully submitted,
Mary Maday, Recording Secretary
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