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North Stonington Board of Finance
Approved Meeting Minutes
Wednesday, January 20, 2010
NEW TOWN HALL
40 Main Street, North Stonington, CT
7:30 PM
- Call to Order Chairman M. Donahue called the meeting to order at 7:39 PM. Chairman M. Donahue, Vice Chair G. Herbert, Secretary T. Oswald, E. Pavlovics, and P. Nimirowski were present. E. Bresette was absent.
- Public Comments and Questions None
- Tax Collector Report We seem to be ahead of last year at this point by about $350K in tax collections which is fortunate because State of CT remittances have been slow up to now.
- Board of Selectmen Discussion, no action.
- Financial Report
- Budget Meeting Schedule
- Board of Education – Financial Report Mr. Herbert spoke about his communication with the BoE in regard to their finances. He will send BoF members a list of the topics he is following for our information.
- Management Reports/Board of Finance as Audit Committee/GASB 45 OPEB. Discussion, no action.
- Review of Management Discussion and Analysis/Audit Status
- 2009/10 Budget/Budget Spreadsheet Discussion, no action.
- Board of Finance Strategy
- Policy on Unreserved General Fund Balance Discussion, no action.
- 2010/11 Budget Guidelines for BOS/BOE
- Assume overall revenue streams will be down, widely, across the board, in accordance with current and anticipated indicators.
- Consequently, zero increase is expected in both BoS (Capital and Operating Budgets) and BoE budgets: i.e. use last year's numbers.
- The BoF guidance to the Bos and BoE will be for zero increase budgets, or face substantial 'push-back' from the BoF.
- It is also possible that there could be a mill rate increase even if budgets were to remain flat dollar-wise.
- Town Report for June 30, 2009 Discussion, no action.
- Previous Minutes G. Herbert moved to approve the 6 January 2010 BoF Regular Meeting minutes as amended. P. Nimirowski seconded and the motion carried 5-0-0.
- Correspondence
- Letter from the State advising of a $2935.05 rebate for trooper services.
- Fraud Risk Questionnaire to Auditor Marcia Marien.
- Copy of CT Resources Recovery report for FY ended 6-30-09.
- Future Agenda Items Identification None.
- Adjournment G. Herbert motioned to adjourn and P. Nimerowski seconded. The motion carried 5-0-0, and the meeting adjourned at 10:31 PM. The next BOF meeting will be a meeting with the BoE and the Selectmen held at 6:00 PM Wednesday 27 January 2010 in the Elementary School. The next BoF regular meeting will be 3 February 2010 in the New Town Hall.
Respectfully Submitted,
Thomas J. Oswald
Secretary, Board of Finance
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