North Stonington Board of Finance
DRAFT Meeting Minutes
Wednesday, April 29, 2009
NEW TOWN HALL
40 Main Street, North Stonington, CT
7:30 PM
1. Call to Order Chairman M. Donahue called the meeting to order
at 7:46 PM., Vice Chair L. Southwick, Secretary T. Oswald, G. Herbert,
E. Bresette and E. Pavlovics were present.
2. Public Comments and Questions Pete Fribance brought up a number
of questions and the BoF .
3. BOE: Financial Statements A financial statement dated 3/31/09
was received from the BoE and discussed by the BoF.
4. BOS: Budget Proposal Follow-up N. Mullane indicates the Town
will be benefiting from some number of dollars of Federal Stimulus
program spending.
a. PSB&PC Project List Discussion, no action.
5. Management Reports/Board of Finance as Audit Committee/GASB 45
OPEB.
a. Moody's Report Update No further information yet received from
Moody's.
b. Status of Cash Register Integration Memo received from Marc
Tate indicating the status of this Auditor mandated improvement is about
the same as has been for a period of time.
6. 2009/10 Budget Preparation Schedule
a. Citizen Robert Minor contributed constructive input for the BoF
in this period about several issues.
i. Out-year costs for major capital items (trucks, schools, etc)
ii. Perceptions of the Town in regard to the discrepancy between the
initial guidance the BoF provided for no-increase budgets and the
resulting proposed increase in taxes.
iii. How the BoF might seek to present information to the Townspeople
in a more effective manner.
b. The BoF drafted the Advisory Questions to be included on the
budget referendum which is anticipated.
7. 2009/10 Budget/Budget Spreadsheet
a. Budget Surplus M. Donahue reviewed the FY08-09 Estimated
Budget Surplus worksheet he has prepared reflecting an estimated
>PROJECTED< surplus, subject to many variables which will only be known
in time to come, of about $119,446 as of 6-30-09.
b. Revision B
c. Webpage/Survey T. Oswald will circulate a draft version of the
possible survey to the BoF.
8. Town Report (June 30, 2008) M. Donahue discussed the draft
Report he prepared and shared with the BoF electronically.
9. Previous Minutes L. Southwick moved to approve the 22 April
2009 BoF Regular Meeting minutes as amended. E. Bresette seconded. The
motion carried 6-0-0.
10. Correspondence
a. Memo from Marc Tate re Status of Cash Register Integration
b. Regional Revaluation Proposal received from NECCOG (N. E. CT
Council of Governments)
c. Memo from CCM (CT Conference of Municipalities) re Federal ARRA
Funding for Education.
11. Future Agenda Items Identification
a.
12. Adjournment L. Southwick moved to adjourn and E. Bresette
seconded. The motion carried 6-0-0, and the meeting adjourned at 11:05
PM. The next BOF meeting will be held at 7:00PM Monday 4 May, 2009 in
the Elementary School.
Respectfully Submitted,
Thomas J. Oswald
Secretary, Board of Finance
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