The Board of Finance held a regular meeting on Monday, January 9, 2006 in the meeting room at Town Hall South, Three Main Street, Newtown, CT. Chairman John Kortze called the meeting to order at 7:30 pm.
PRESENT: John Kortze, Harrison Waterbury, Michael Portnoy, Joseph Kearney, John Torok
ABSENT: James Gaston
ALSO PRESENT: First Selectman Herbert Rosenthal, Board of Education member David Nanavaty, Economic Development Commission Chairman Chet Hopper
VOTER PARTICIPATION: Chairman Kortze distributed information that was dropped off at the beginning of the meeting by Ms. Ruby Johnson, 16 Chestnut Hill Road, Sandy Hook.
COMMUNICATIONS: All members received a copy of the annual audit and a letter from Dr. Pitkoff with an update on school enrollment projections. All members also received a copy of the 12/22/05 financial report from the Board of Education.
Chairman Kortze advised that the Legislative Council has received the Capital Improvement Plan and he gave an update of the discussion at the Council meeting.
Mr. Waterbury advised that he has spoken with someone from the Board of Finance in Southbury. They negotiated having the town pay the first $500 of any hospital stay which saved them money because it reduced insurance premiums. Mr. Waterbury advised that this gentleman, who is an insurance agent, would be happy to come to talk to this board at some time in the future.
ACCEPTANCE OF MINUTES: Mr. Portnoy moved to accept the minutes of the 12/11/05 meeting with a correction to the names of those present. Motion seconded and unanimously carried.
FINANCE DIRECTOR REPORT: Mr. Spragg was not present.
FIRST SELECTMAN REPORT: No report
UNFINISHED BUSINESS – None
NEW BUSINESS
Tax Incentive Application – SMT Corporation
Chet Hopper, Chairman of the Economic Development Commission, stated that this is the first application since the Plan was adopted. SMT built a $5 million project on High Bridge Road. Before they started, they talked to the First Selectman. They had looked at other towns but decided to build in Newtown and hoped to receive a tax incentive. The EDC and the Board of Selectmen have approved this application. We want to send the message out that Newtown is friendly to businesses. First Selectman Rosenthal advised that both owners of this business also live in Newtown. When they first came to the First Selectman, he told them that we were working on a plan and nothing could be promised but that they would be considered.
Mr. Kearney moved to recommend to the Legislative Council that the application by SMT Corp. for tax incentives be approved. Motion seconded and unanimously carried.
Transfer
Mr. Portnoy moved to transfer FROM Account 01570-2000 Contingency $11,336.00 TO Account 01550-1004 Maintainers $11,336. Motion seconded.
First Selectman Rosenthal advised that this transfer will cover the recently negotiated contract between the Town and the Parks & Recreation Maintainers. He gave a brief overview of the contract, which includes a 3.5% salary increase for the first two years and 3.75% the third year. It also includes increases in the cost-sharing and co-pay for health insurance.
MOTION UNANIMOUSLY CARRIED.
Upcoming Year
Mr. Portnoy would like to learn more about the town’s retirement plan. Mr. Rosenthal will have information for a future meeting. Mr. Kearney wants to push for a Charter revision to correct the lack of a provision for surplus, which has been stated as a reason why our bond rating was not raised.
Having no further business, the meeting was adjourned at 8:45 p.m.
Jan Andras, Clerk
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