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North Stonington Board of Finance
DRAFT Meeting Minutes
Wednesday, January 5, 2011
NEW TOWN HALL
40 Main Street, North Stonington, CT
- Call to Order: Chairman M. Donahue called the meeting to order at 7:36 P.M. Chairman M. Donahue, P. Nimirowski, D. Spring and E. Bresette were present. E. Pavlovics and M. Ratib were absent.
- Public Comments and Questions: None.
- Tax Collector’s Report: The Overpaid Account is trending downward.
- Board of Selectmen Financial Report: First Selectman N. Mullane reported that the appeal for FEMA reimbursement should be resolved by the end of January. Additional hydrostatic testing to support repair of the Main Street bridge will be conducted this month. A Request for Proposal for architectural services for the Ad Hoc School Building Committee recommendation will be available soon. The Management letter for the annual audit report is expected to be complete this week. A Tri-Partite board meeting to discuss the annual budget and financial conditions is planned for January 26 – State Senator Maynard and State Representative Urban will be invited to attend and participate.
- ZBA Additional Appropriation Request: D. Spring moved to approve the request for an Additional Appropriation of $1200.00 to Line Item BB13 for Zoning Board of Appeals expenditures. E. Bresette seconded and the motion carried 4-0-0.
- Town Attorney Additional Appropriation: M. Donahue moved to approve the request for an Additional Appropriation of $20,000.00 to Line Item B8.00 for Town Attorney expenditures. P. Nimirowski seconded and the motion carried 4-0-0.
- Previous Minutes: E. Bresette moved to approve the BoF Regular Meeting minutes of December 1st as written. P. Nimrowski seconded and the motion carried 4-0-0.
- Board of Finance Strategy: The Board reviewed financial data and reports in preparation for the annual budget process. Topics included:
- Selection of Vice Chair – deferred until all Board members can attend.
- Ten Year Forecast – the 2009-10 forecast will be updated and shortened to cover five years.
- Economic Development – the Board reviewed the status of the Grand List and the prospective impact of commercial development on property tax forecasts.
- Policy on Unreserved General Fund Balance – a draft policy was distributed for future consideration.
- 2011/12 Budget Guidelines for BOS/BOE – last year’s guidelines were reviewed.
- GASB 45 OPEB Liability Funding – additional professional input will be sought to develop guidance for addressing OPEB liability.
- Board of Finance Alternates – options available under Connecticut Statutes were reviewed.
- Correspondence: None
- Future Agenda Items Identification: Maintain BOF Strategy item.
- Adjournment: E. Bresette moved to adjourn. D. Spring seconded and the motion carried 4-0-0. The meeting adjourned at 10:16 PM.
Respectfully Submitted,
Mark S. Donahue
Chairman, Board of Finance
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