RECEIVED MAY 13, 2010 @ 9:02 A.M.
Michele R. Grande, Redding Town Clerk
REDDING BOARD OF FINANCE
SPECIAL MEETING MINUTES
May 4, 2010
Minutes
Filed subject to approval
Present: Alvarez (Chairman), DeSalvo, Mazzucco, Simeonidis
Also present: First Selectman Ketcham, Selectman Pemberton, Controller Gniadek, Treasurer O’Donnell, and a representative of the Redding Pilot
The meeting was called to order by Chairman Alvarez at 8:10 pm in the Redding Community Center immediately following the results of the budget referendum. Mr. Alvarez announced that the Town budget was approved with a vote of 961 yes and 541 no. Redding also approved the Region 9 budget, 937-563. The Town of Easton also approved both their town budget and the Region 9 budget.
SET THE MIL RATE FOR FISCAL YEAR 2010-2011
Mr. Gniadek circulated an updated worksheet of revenue and expenses. The revenue side was revisited by the staff and some adjustments were made. The revised increase in mil rate was 1.97%, with a Mil rate of 22.22.
Motion: move that the Redding Board of Finance set a Mil Rate of 22.22 for fiscal year 2010-2011. Mazzucco, Simeonidis. Approved. Unanimous.
PUBLIC COMMENT
Treasurer O’Donnell announced that bond-rating company, Moody’s, has completed a recalculation of municipal governments and Redding’s rating is moved back up to Aa1 from previously Aa2.~ Mr. Alvarez commented that this higher rating will most likely result in a lower annual interest rate when the Town goes out for bonding.
Mr. Simeonidis commented that this is the second year in a row that we have had tough economic times and that the public strongly supports good Town and school services by overwhelmingly supporting the budgets. He added that he feels that all of the boards have given too much weight to a small minority of people who are very loud and that we’ve cut our services to both the Town and schools too much. He will remember that next year during budget season.
ADJOURNMENT: Motion: move to adjourn. Mazzucco, DeSalvo. Approved. Unanimous.
The meeting was adjourned at 8:15 pm
Respectfully submitted,
Mary Maday, Recording Secretary
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