DRAFT
North Stonington Board of Finance
Meeting Agenda Wednesday March 5, 2014
New Town Hall
North Stonington, CT
@ 7:30pm
- Call to Order: Chairman Dan Spring called the meeting to order @ 8:00pm. Members present were Peter Nimirowski, Charlie Steinhart, Tom Main (8:00pm) and Mustapha Ratib (8:09pm).
- Public Comments and Questions: None
- EMS/Fire Complex Update: Deferred. Mark Perkins was not present due to being called up for fire duty.
- BOS: First Selectman Nick Mullane reviewed the revenue estimates for budget preparation 2014-2015. Total revenue was forecasted to be lower due to loss of principle and interest reimbursement on the school bond (paid status) and less FEMA reimbursements.
Some discussion developed on loss revenue from recyclables at the transfer station that will be addressed by administration.
Capital project financing was discussed with the emphasis on the need to have projects completed and paid without placing undue drain on the General Fund. The letter from the BOS illustrating three year financing of capital projects dated February 8, 2014 was revisited.
A motion was made by Dan Spring and seconded by Charlie Steinhart to approve the capital projects, adopted in the 2013-2014 budget, to be financed over a three year period as proposed in the BOS letter dated February 8, 2014. It is noted this letter also outlined administrative costs for such financing. The motion carried 4-0-0. A skype meeting is being scheduled with Bond Counsel next week to develop the EMS/Fire Complex project financing.
The First Selectman presented the status of Indian Tribal Recognition as is relevant to the Town of North Stonington. Moreover, the defense of such issues suggests the potential overrun of budgeted attorney’s fees. The excess has not yet been determined.
- BOS monthly reports: The review and narrative proved by the First Selectman illustrates that execution of the budget is proceeding as planned. Other than attorney’s fees there were no material discrepancies. Inquires relative to the Highway Department and the consequence of consecutive winter storms were brought up. Particularly, overtime and sand/salt supplies. The First Selectman felt confident that the activities of the Highway Department would stay within budget.
- Tax Collectors Report: It was noted that the uncollected Tax level as of March 13, 2014 was at $609,698.91. It was emphasized that the uncollected taxes were necessarily needed by the Town of North Stonington situation is considered unacceptable. It is requested that the present administration file weekly updates. It was proposed that added attorney’s fees be budgeted to accommodate the resolution of past due taxes. Moreover, the status update is to include the top 15 delinquent accounts so that the BOF has a better perspective of this critical issue.
- Future Strategies: The BOE Budget 2014-2015 presentation will be scheduled for the next BOF meeting if it has been approved by BOE. A formal request of estimates at the close of the current fiscal year will be forwarded as of March 6, 2014.
The BOE will be begin union negotiations next month and requests a liaison from BOF.
- Previous Minutes: The minutes of the February 19th BOF meeting were reviewed. Dan Spring made a motion to approve the minutes as amended and was seconded by Mustapha Ratib. The minutes were approved 4-0-0.
It was noted that the minutes of the BOF meeting December 4, 2013 are still delinquent. Notes of this meeting are to be shared and compiled for submission no later than March 12, 2014.
- Adjournment: The Chair Dan Spring moved to adjourn the meeting at 10:30pm. It was seconded by Tim Main and carried 4-0-0.
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