RECEIVED FEBRUARY 25, 2010 @ 1:00 P.M.
Michele R. Grande, Redding Town Clerk
3 pages
REDDING BOARD OF FINANCE
REGULAR MEETING
February 22, 2010
Minutes
Filed subject to approval
Present: Alvarez (Chairman), DeSalvo, Dolan (7:35 pm), Guffey, Mazzucco
Also present: First Selectman Ketcham, Selectman Takacs, Selectman Pemberton, Controller Gniadek, Treasurer O’Donnell, Tax Collector Moisio, Assessor Ford, a representative of the Redding Pilot and 13 members of the public.
The meeting was called to order by Chairman Alvarez at 7:30 pm in the Hearing Room of the Town Office Building.
APPROVAL OF MINUTES
Motion: move that the Board of Finance accepts the minutes of January 25, 2010 as submitted. Mazzucco, Guffey. Approved. 3-0-1. Mr. DeSalvo abstained.
TAX COLLECTOR’S REPORT
Tax Collector Moisio reported 98.9% of the budgeted tax revenue has been collected, and she anticipates the number will rise to 100% very shortly. Collection of Prior Year Tax is only at 33%, but the total collectible is small.
CONTROLLER’S REPORT
1. Revenue change: revenue, excluding taxes, is projected to be approximately $86,000 below budget, primarily due to interest income.
2. Expense change: in addition to identified savings of approximately $162,000, the Town Department heads estimate an additional savings of about $150,000. Mr. Gniadek anticipates an estimated expenditure savings of $300,000 at the end of the fiscal year.
Mr. Dolan arrives (7:35 pm)
3. Grants: the Federal Energy Grant (ARRA) totaling $50,597 has been approved.
4. CL&P: Mr. Gniadek reported there are incentives (up to 40%) available for HVAC replacements for municipalities.
5. Comparative Statistics: Mr. Gniadek will complete and circulate a five-year comparison of nine neighboring towns for Unrestricted Fund, Debt and Expenditure balances. The report will be discussed at the next meeting.
6. Municipal shared services: Mr. Gniadek, the Highway Superintendent and Park & Recreation Director met with their counterparts in Newtown to discuss the potential of sharing equipment/services to generate savings for both towns. The meeting was productive and the towns will move forward on the issue. There was also interest in expanding the pool to include Wilton & Ridgefield. Mr. Gniadek will meet with the Director of Finance, Peggy Sullivan, for the schools to discuss potential sharing of services.
7. Audit Report: the final copy of the Audit Report, along with the Management Letter, was provided. Mr. Gniadek will prepare a response and action plan to address items noted in the Management Letter.
8. Budget: a shortened version of the budget (a cost-savings measure) will be printed in this week’s Redding Pilot. The complete budget will be posted on the web site and copies will be available in the Town Clerk’s office. The Public Hearing on the budget is scheduled for March 4, 2010 at 7:30 pm in the Community Room of the John Read Middle School.
REGION #9 DEBT RATING: Director of Finance, Peggy Sullivan, reported the District recently refinanced some of the debt. As part of the process, Standard & Poor issued a AAA rating for the District. The debt was refinanced at a savings of $350,000 over 12 years.
REDDING BOARD OF EDUCATION LONG RANGE CAPITAL NEEDS
Mr. Barickman reported the Board of Education’s Facilities Management Committee assessed the needs of the schools and submitted a plan for a total of about $4,100,000 over the next two years for six projects. The Board of Education approved the plan as submitted. The Committee is working on firmer estimates for the work and will present the plan to the Board of Finance at the next meeting. The presentation will include a detailed presentation of the projects with estimates. The presentation will include a priority recommendation of the issues and will address the risks of not moving forward with the projects.
Mr. DeSalvo raised an issue concerning the approval of stipends for the Director of Finance and Asst. Superintendent for additional work in conjunction with the change in superintendents. He was not opposed to the stipends, but to the fact that the Region #9 Board of Education and Redding Board of Education agreed to pay the stipend, but the Easton Board of Education did not approve the payment. Chairman of the Redding Board of Education reported that each board acted independently on the issue, it was not handled at a meeting of the three boards. Mr. DeSalvo also noted that the salary increases for the Director of Finance and Asst. Superintendent will include the prior increases not taken.
2009 GRAND LIST REVIEW
Assessor, John Ford, presented his report of the finalized Grand List. The total Grand List increase, $12,149,233, represents an increase of 0.61% over the previous year. The Total Net Taxable is $1,993,334,753.
BOARD MEMBER REPORTS
Mr. DeSalvo noted that the Region #9 Board of Education will begin their budget deliberations at their meeting tomorrow evening. Redding’s share of expenses will decline this year, as Redding’s enrollment declines.
PUBLIC COMMENT
Pam Suhr: commented on her concern for the number of Redding residents not receiving pay increases or being out of work, and asked that this be considered in the budget discussions.
ADJOURNMENT: Motion: move to adjourn. Mazzucco, Dolan. Approved. Unanimous.
The meeting was adjourned at 8:15 pm
Respectfully submitted,
Mary Maday, Recording Secretary
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