North Stonington Board of Finance
Meeting Minutes
Wednesday, December 3, 2008, 8:00 PM
NEW TOWN HALL
40 Main Street, North Stonington, CT
1. Call to Order Chairman M. Donahue called the meeting to order at
8:09 PM. Vice Chair L. Southwick, Secretary T. Oswald, E. Bresette, G.
Herbert, and E. Pavlovics were present.
2. Public Comments and Questions None.
3. Tax Collector Reports Town Tax Collector Sandra Steinhart spoke
with the BOF and fielded questions. Larry Southwick motioned the BOF
approve the 2002/2003 suspense book as presented by the Collector. E.
Bresette seconded. Discussion followed. The motion passed 5-0-1 with E.
Pavlovics abstaining.
4. BOS: Financial Reports First Selectman Mullane spoke with the BOF
about Town finances. Mullane agreed to report back to the BOF at our next
meeting about the following 4 items of information from the General Fund P &
L report he presented.
4.1 Line item CC3.000: Ambulance Equipment
4.2 Line item CC1.10: Equipment Lease Buy Dump Truck
4.3 Produce a report about the Town savings in fuel costs due to reduced
market prices as opposed to what the BOS expected to pay.
4.4 Give some overview of what line items have gone above and below
spending expectations
5. Auditor Presentation of Draft Audit Marcia Marien, CPA, of Marien
and Company, Auditor of the town finances, reviewed with the BOF her
firm's "Review of the Financial Statements" report. She stated that it does
not appear that North Stonington is "...out of line anyplace" financially
speaking.
E. Pavlovics motioned the BOF direct the Auditor to close the TAR
fund (Town Aid Road Fund) and transfer it to the General Fund. G. Herbert
seconded. The motion passed 6-0-0.
Ms. Marien also discussed with the BOF her opinion that the BOF is
responsible for the auditing of BOE school activity funds. She also
expressed how the Town Attorney should be the proper adjudicator of this
question. G. Herbert reports the information he has gathered from several
sources consulted in his research indicates the BOF has no specific
responsibility for the auditing of the school activity funds. This is
confirmed by the Town Attorney's written legal opinion.
6. 2009 Meeting Schedule G. Herbert motions the BOF approve the dates
and times for next year's meeting schedule including a new meeting general
start time of 7:30 for the next year instead of the current 8 PM. L.
Southwick seconded and the motion carried 6-0-0.
At this point, after midnight, the meeting was adjourned due to the
late hour. See item #14 below for details.
7. Management Reports/Board of Finance as Audit Committee/GASB 45 OPEB.
Tabled until a later date.
8. Town Report (June 30, 2008) Tabled until a later date.
9. Budget/Budget Spreadsheet - 2008/9 Revision E Tabled until a
later date.
10. Board of Finance Goals/Long Range Plans/Resources Tabled until a
later date.
11. Previous Minutes Tabled until a later date.
12. Correspondence Tabled until a later date.
13. Future Agenda Items Identification Tabled until a later date.
Get Marcia Marien + Co to come deliver their Entity Wide Controls
presentation for the BOF. (Added prior to adjournment.)
14. Adjournment E. Bresette motioned for adjournment M. Donahue
seconded and the motion passed 6-0-0. The meeting was adjourned at 12:10 AM
on 12-04-08. The next BOF meeting will be held at 8 PM Wednesday 17
December in the New Town Hall Meeting Room.
Respectfully Submitted,
Mark S. Donahue
for
Tom Oswald
Secretary, Board of Finance
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