BOARD OF FINANCE
MINUTES
MARCH 22, 2004
I. CALL TO ORDER – The Regular Meeting of the Board of Finance was called to order at 7:30 p,m, by Chairman Tom Harrison. Members Tom Gugliotti, Steve McGuff, Michael Monts, Jim Speich and Mark Zacchio attended. Bill Hooper was absent.
II. PLEDGE OF ALLEGIANCE – Led by Tom Gugliotti.
III. COMMUNICATION FROM AUDIENCE – Ted Glanzer, Farmington Valley News was introduced by the Chairman, as was an Avon High School student participating in her Civics Class.
IV. MINUTES OF PRECEDING MEETING: 2/23/04 – On a motion made by Mr. Zacchio, seconded by Mr. Gugliotti, it was voted:
RESOLVED: That the Board of Finance accept the minutes of the February 23rd
Meeting, as amended to show that Mr. Harrison made the motion to
Nominate Mr. Gugliotti as Secretary/Treasurer.
Messrs. Harrison, Gugliotti, McGuff, Speich and Zacchio voted in favor, Mr. Monts abstained, absent from the meeting.
V. OLD BUSINESS – The Chairman called for Item VI New Business to be discussed at this time, with this item being considered thereafter.
VI. NEW BUSINESS
03-04-13 – Supplemental Appropriation $291,000, 10 Sunnybrook
Drive (Adjacent to Avon Free Public Library).
Virginia Vocelli, Library Director attended the meeting to answer any questions from the Board. Jim Speich asked the Town Manager how this will affect the General Fund Balance, and was advised that currently we are anticipating $3,845,784 or 6.7% anticipated Fund Balance. We have already approved $28,000 for the Volunteer Fire department Kitchen renovations, $81,000 for the new sprinkler system at the Senior Center and $41,000 for a new Police Officer. If this appropriation of $291,000 is approved, it will leave $3,424,678, or 6.65%. However, we do not have the audit completed, but we’re pretty sure the Auditors will concur with our estimated figure.
Mr. Gugliotti asked if any consideration has been given to selling the building or renting it out until such time as it is necessary to make use of it. The Town Manager reported if this appropriation is approved, the building will be put up for sale; however, as the building will have to be moved at the new owner’s expense, he is not optimistic that this will happen.
Alicia and Christopher Rendell, current owners of the property advised that since the property was advertised, there have been several people who have actually stopped to tour the property.
The Town Manager reported there are sufficient Undesignated Fund Balance resources to finance the sum of $291,000 from the Town’s Undesignated General Fund Balance.
On a motion made by Mr. Monts, seconded by Mr. Speich, it was voted:
RESOLVED: That the Board of Finance hereby amend the FY 03-04 Budget to approve transfer of an appropriation in the amount of $291,000 from Account #01-0390-43913 General Fund, Other Financing Sources, Undesignated Fund Balance and Account #01-8700-48000, General Fund, Other Financing Uses, Interfund Transfer-out to Account #02-0390-43918, Capital Projects Fund (Facility & Equipment), other Financing Sources, Interfund Operating Transfers In and:
Account #02-4849-2183 – Capital Projects Fund (Facil & Equip), Purchase &
Library Expan, Legal Fees: $500;
Account #02-4849-52219 – Capital Projects Fund (Facil & Equip), Purchase & Library Expan. Other 55,000;
Account #02-4849-52239 – Capital Projects Fund (Facil & Equip), Purchase & Library Expan. Materials Other 5,500;
Account #02-4849-53344 – Capital Projects Fund (Facil & Equip), Purchase &
Library Expan. Land & Buildings: 230,000.
$ 291,000.
For the purpose of funding the purchase of land and building at 10 Sunnybrook Drive and estimated associated environmental, demolition and site costs.
Messrs. Harrison, Gugliotti, McGuff, Monts, Speich and Zacchio voted in favor.
03-04-14 – Supplemental Appropriation: $9,000 Replace Pool Pump and Muriatic Acid System (PH Balancing) – Sycamore Hills
The Town Manager certified that there are sufficient Unreserved Designated Fund Balance resources to finance the sum of $6,710 from Account #09-0360-43922.
On a motion made by Mr. McGuff, seconded by Mr. Gugliotti, it was voted:
RESOLVED: That the Board of Finance hereby appropriates a sum not to exceed $9,000
From Account #09-5107-53319, Recreation Activities Fund, Recreation Activities, Other Equipment for the purpose of purchase and installation of a CO2 system to replace the muriatic acid system and to replace the main pool circulating pump for Sycamore.
Messrs. Harrison, Gugliotti, McGuff, Monts, Speich and Zacchio voted in favor.
03-04-15 - Supplemental Appropriation $1,100 – Police Equipment
On a motion made by Mr. Zacchio, seconded by Mr. Speich, it was voted:
RESOLVED: That the Board of Finance hereby amends the FY 03-04 Budget by increasing REVENUES General Fund, Other Local Revenues, Donations from Private Sources, Account #01-0360-43651 in the amount of $1,100 and increasing APPROPRIATIONS General Fund, Patrol Services, Other Equipment, Account #01-2107-53319 in the amount of $1,100 for the purpose of purchasing miscellaneous Police equipment.
Messrs. Harrison, Gugliotti, McGuff, Monts, Speich and Zacchio voted in favor:
V. OLD BUSINESS – FY 03-04 Budget – Budget Presentation
Chairman Harrison introduced discussion by referring to the schedule for consideration of the proposed budget; Public Hearing on April 1st at the Senior Center subsequent work sessions for April 7, 13 and 15 to be presented to the Town Meeting on May 3rd and the Referendum on May 12. Each Board will make a presentation of their requests for the year after which this Board will give a power-point presentation covering some items the people at the hearing will need to consider; so that’s what we will be discussing tonight. At the last meeting we decided to start the Public Hearing at 7:00 p.m. to allow more time for the presentations by the three Boards. Steve McGuff has indicated he will make the presentation for this Board and tonight we will be discussing
what we will put into that presentation. Mr. McGuff led a discussion on updating power point slides from last year, considering the results of revaluation on property values in Town and how best to illustrate the consequences to the citizens. Each slide was either rejected or approved to be included in the presentation. The Board members will work with the Director of Finance and Town staff to refine the presentation, and will schedule a “dry run” for 3:00 p.m. on the afternoon of April 1st.
VII. MISCELLANEOUS – None.
VIII. OTHER BUSINESS – None.
IX. ADJOURN
On a motion made by Mr. Gugliotti, seconded by Mr. Zacchio, it was voted:
RESOLVED: That the Board of Finance adjourn at 8:25 p.m.
Messrs. Harrison, Gugliotti, McGuff, Monts, Speich and Zacchio voted in favor.
Respectfully submitted,
Thomas A. Gugliotti, Secretary
Attest: Elinor Burns, Clerk
03-22-04 Minutes
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