 |
North Stonington Board of Finance
Approved Meeting Minutes
of
Wednesday, January 21, 2015
New Town Hall
North Stonington, CT
- Call to Order Vice Chairman Tim Main called the meeting to order at 7:40 PM. Brent Woodward, Charlie Steinhart and Emile Pavlovics were present. Dan Spring and Mustapha Ratib were absent.
- Public Comments and Questions: Joe Gross requested that henceforth he be provided a copy of all BOF meeting material unless marked “draft.” He also reminded the BOF of the benefits of using a standardized format for additional appropriations he had previously provided.
- BOS: Project Updates, Monthly Report Review:
Hewitt property dam repair has been basically suspended due to the cold weather and excavation at the EMS/Firehouse complex site has started.
Selectman Mark Donahue provided the BOF with FY 2014/15 operating cash flow performance curves that demonstrated revenues are greater than expenditures through December 2015. It was suggested that BOE projected expenditures be added for clarity.
- BOE: Monthly Report: The draft BOE monthly report for December 2014 was forwarded to the BOF via e-mail. No comments were generated.
- BOF Fiscal Polices, Discussion: Capital Projects Plan: In preparing the next fiscal policy, which is capital projects, Mark Donahue suggested that the BOF consider budgeting money in advance of the expenditure as a means of reducing the cost of borrowing money. The technique is currently used for revaluation expenses (line item C 4.00).
6. Previous Minutes: Tim Main moved to approve the minutes of January 7, 2015, as amended. The motion was seconded by Charlie Steinhart and carried 4-0-0.
7. Future Strategies: Budget Prep (2015-2016) February Grand List Review, BOE Facilities Review January 29, 2015 at 7 PM Wheeler Media Center (Tri Board), Town Meeting January 26, 2015: A tri-board (BOF, BOS and BOE) meeting is scheduled on January 29, 2015 to discuss modernization and future of the school facilities. Mark Donahue encouraged all BOF members to attend in the hopes of establishing a unified position of the three boards.
A Town meeting is scheduled for January 26, 2015.
8. Adjournment: A motion to adjourn was made by Charlie Steinhart. The motion was seconded by Brent Woodward and carried 4-0-0. The meeting was adjourned at 9:10 PM.
Respectfully Submitted,
\ BBW \
Brent B. Woodward
Secretary, Board of Finance
| |
