North Stonington Board of Finance
DRAFT Meeting Minutes
Wednesday, 5 May, 2010
New Town Hall
40 Main St, North Stonington, Ct
1. Call to Order: Chairman M. Donahue called the meeting to order at 7:38 PM. Chairman M. Donahue, Vice Chair G. Herbert, Secretary T. Oswald, P Nimirowski, E. Pavlovics and E. Bresette were present.
2. Public Comments and Questions: There were no public comments or questions.
3. Tax Collector’s Report: The Tax Collector’s Report dated 30 April, 2010 was reviewed. The Report shows $12,423,303.26 taxes paid and $629,027.25 taxes uncollected.
4. Board of Selectmen:
a. Monthly Financial Report: N. Mullane briefed the BOF that he would be meeting with FEMA representative later this week or early in the week of 9 May, 2010. The purpose of the meeting is to work with FEMA on a more detailed storm damage assessment and to refine the claim assessments. Mr. Mullane will report the details to the BOF in the future. In addition, Mr. Mullane reported the BOS has expenditures over budget this year due to storm damage and the Kingswood/Meadowwood drainage project. Mr. Mullane indicated that
the BOS would complete a current year budget assessment and report back to the BOF at a future meeting.
b. 2010/2011 Budget Input: N. Mullane reported that the BOS voted to increase the North Stonington Ambulance Association’s 2010/2011 budget by $12,000. This is to compensate for a decline in revenues generated from service calls. Mr. Mullane also briefed the BOF that after a review of the 2010/2011 Budget the BOS submitted new Operating Budget figures that showed a savings of $41,624.00.
5. 2010/2011 Budget/Budget Spreadsheet:
a. Revision A review: The BOF discussed raising the anticipated tax collection rate from 97% to some higher rate. This is based on data from the last three years which showed a tax collection rate higher than 97%. However, looking at tax collection rates over a longer period showed that a 97% tax collection rate was more realistic and the consensus of the BOF was to leave the tax collection rate at 97% for the 2010/2011 budget.
The BOF next discussed a final Revision A of the 2010/2011 Budget to present to the Town at the Budget Hearing scheduled for 10 May, 2010. Topics that were discussed included raising taxes, using undesignated funds in Capital Non-Recurring (CNR), directing the BOS to reduce their budget, and finalizing a Revision A that reflects a 0 mil rate increase. P Nimirowski motioned that the BOF direct the BOS to cut $51,106.00 from their Budget to achieve a 0 mil rate increase. E. Pavlovics seconded the motion and the motion failed on a vote of 2-3-0. M. Donahue motioned that the BOS Capital Budget be reduced by $45,000.00 by eliminating the one ton utility truck in line item CC106. G.Herbert seconded the motion and the motion passed on a vote of 5-0-0.
M. Donahue motioned that the BOF release Revision A of the 2010/2011 budget dated 5 May, 2010 to the Budget Hearing. E. Bresette seconded the motion. Revision A will reflect a budget totaling $17,458,399. To achieve a 0 mil rate increase $6,106.00 from General Reserves will be entered as revenue. The motion passed 4-1-0.
b. BOE Request for Line Item in Capital Non-Recurring Account : No action.
6. Board of Finance Strategy: The BOS and the BOE will work on a mutually acceptable date for the Ad Hoc School Building Committee to present their findings and recommendation to the BOS, BOE, and BOF.
7. Management Reports/Board of Finance as Audit Committee/GASB 45 OPEB: No action.
8. Town Report for June 30, 2009: No action.
9. Previous Minutes: No action.
10. Correspondence: No action.
11. Future Agenda Items Identification: No action.
12. Adjournment: E. Bresette motioned to adjourn at 11:12 PM. P Nimirowski seconded the motion which passed on a 5-0-0 vote.
Respectfully Submitted
Gary Herbert
Vice Chairman
| 