The Board of Finance held a regular meeting on Thursday, January 22, 2009 in the Conference Room of Town Hall South, 3 Main Street, Newtown, CT. Chairman John Kortze called the meeting to order at 7:30 p.m.
PRESENT: John Kortze, James Gaston, Martin Gersten, Joseph Kearney, Michael Portnoy, Harrison Waterbury
ALSO PRESENT – Parks & Recreation Director Amy Mangold, Parks & Recreation, Chairman of the Parks & Recreation Commission Ed Marks, Parks & Recreation Commission member Patrick Barczak, Kathy Fetchick from the Board of Education, one member o the public.
VOTER COMMENTS – None
COMMUNICATIONS – The report is back from Moody’s and an upgrade in bond rating was not granted. Mr. Kortze received a letter from Mr. Rodgers, chairman of the Legislative Council stating changes that were made to the CIP that require the Board of Finance to adopt. Mr. Kortze was present at the meeting that the Board of Selectman called to review the re-bid of the High School addition. The general understand is that the bidders will try as hard as they can to come in at 38.8 million. There is a significant effort not to come back to the public for more money. They do not expect any sizable relief in bidding. Short of the education specs of the project, it is out of the Board of Educations hands. The selectman control the re-bid, they control the building. Ms. Fetchick informed that the documents to re-bid have gone up to the state today to verify that it meets building codes.
MINUTES – Upon motion of Mr. Gersten and seconded by Mr. Portnoy, the minutes of the regular meeting of January 12, 2009 were unanimously accepted as presented.
FIRST SELECTMAN REPORT – None
FINANCE DIRECTOR REPORT - None
UNFINISHED BUISNESS - None
NEW BUISNESS
Mr. Gersten moved to transfer from Account 01570-2001 Contingency $190,000 to Account 01510 1003 Winter Overtime $35,000, Account 01510 2032 Winter Salt $125,000 and Account 01510 2031 Winter Sand $30,000. Mr. Waterbury seconded. Motion accepted 5 to 1. Mr. Portnoy opposed.
Mr. Gaston moved to add to the agenda the CIP plan. Mr. Waterbury seconded. Mr. Kortze read a letter from Mr. Rodgers, Chairman of the Legislative Council stating the actions taken at the Legislative Councils last meeting pertaining to changes that were made to the CIP. Changes are as follows:
Add/restore renovation of the Park and Recreation Maintenance facility of $350,000.
Decrease and reprioritize $620,000 - $300,000 will stay in the 2009-2010 CIP for the Tennis Courts at Dickenson Park and $320,000 moves to 2010-2011 for the balance of the Dickenson Park renovations.
Mr. Gaston moved for the Board of Finance to conform its recommended CIP to the last revised and enacted CIP by the Legislative Council. Add/restore $350,000 for the Park and Recreation Maintenance Facility to the year 2009-2010, keep $300,000 of $620,000 for the Dickenson infrastructure in 2009-2010 and shifting the priority of the balance of $320,000 for the Dickenson infrastructure to 2010-2011. Reduce the Recreation Center in 2010-2011 from $4,000,000 to $3,680,000. Mr. Gersten seconded. Motion unanimously accepted. Letter from the Legislative Council attached.
Debt Management Policy – Mr. Gersten moved to accept the Town of Newtown Debt Management Policy as amended. Mr. Gersten Seconded. Page 2 V.B. – the last sentence is to read “In the event debt obligations are being issued to refinance outstanding debt obligations the final maturity of the debt obligations being refinanced shall remain the same maturity”. Mr. Portnoy motion to accept the Debt Management Policy with change. Mr. Gersten seconded, motion unanimously seconded.
Having no further business, meeting was adjourned at 8:11 PM
Clerk, Arlene Miles
| 
