SPECIAL TOWN COUNCIL
MEETING MINUTES
APRIL 7, 2010
A joint meeting of the Board of Finance, Town Council and the Board of Education was held on April 7, 2010 in the Community Room at the Avon Senior Center.
I. CALL TO ORDER
Finance Board Chairman Harrison called the meeting to order at 7:00 p.m. There were approximately 100 people in the audience. Chairman Harrison reported there would not be any audience participation, because this is a Board of Finance workshop.
II. OLD BUSINESS
a. Board of Finance Workshop: Set Budget Goals and Objectives.
The Board of Finance conducted this portion of the meeting.
The Town Manager reported the revenue figures that the Finance Board have before them this evening were estimates made in January 2010. He advised the Board since that time we feel we can increase revenues by $160,000. He further advised the Finance Board that they may wish to consider the use of $100,000. from the Undesignated Fund Balance, however, it is not prudent to use a greater amount, because of the concerns of the bond rating agencies. The Finance Director reported that our Financial Advisor has cautioned us that the rating agencies would like to see at least a 10% reserve. Our reserve presently is approximately 7%.
After much deliberation among the members of the Board of Finance they voted to recommend a 4.4% mill increase which necessitates a reduction of the total budgets, as presented, in the amount of $1,323,823 for a mill rate of 24.44. The breakdown will be a 80/20 split – 80% Board of Education of the $1,323,823 and 20% Town. The Board of Finance advised the Town Council that they are permitted to take reductions in the Operating Budget and Capital Budget.
b. Adopt the final Town Budget
The Town Council Chairman called the Town Council to order at 8:45 P.M. Members present: Mrs. Samul, Messrs: Evans, Pena and Shea.
On a motion made by Mr. Shea, seconded by Mr. Zacchio, it was voted:
RESOLVED: That the Town Council approve the following reductions to the
Town’s FY2010/2011 budget as follows:
Operating Budget - F/T Maint. for B&G Foreman $ 32,800.
Hospitalization 20,000.
Retiree Health 15,000.
C.I.P. BUDGET - Fire Engine #9 Replacement 160,000.
Pine Grove School Playscape Upgrade 37,200.
TOTAL REDUCTIONS $ 265,000.
Mrs. Samul and Messrs: Evans, Pena, Shea and Zacchio voted in favor.
The Town Manager was authorized to do any rounding off of figures to arrive at a 24.44 mill rate.
III. NEW BUSINESS - None
IV. OTHER BUSINESS – None
V. ADJOURN
The meeting adjourned at 9:45 p.m.
Attest:
Caroline B. LaMonica, Clerk
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