|
 TOWN OF OLD SAYBROOK Board of Finance |
302 Main Street Old Saybrook, Connecticut 06475-1741
MINUTES REGULAR MEETING July 15, 2008 at 7:30 P.M. Pashbeshauke Pavilion |
|
|
I. CALL TO ORDER Chairman, Carl Fortuna, called the regular meeting of the Board of Finance to order at 7:30 p.m.
Attendant Members Absent Members
Carl Fortuna, Chairman George Whelen, V. Chairman
Lee Sparaco
David LaMay
Robert Finch
John O’Brien
ATTENDANT STAFF:
Michael Pace, First Selectman
William Peace, Selectman
Bob Fish, Treasurer
Gerri Lewis, Clerk
Chairman Fortuna asked for a moment of silence in view of Mr. Sugland’s passing. Mr. Fortuna noted that Mr. Sugland was a long time member of the Board of Finance and well respected.
Mr. Fortuna directed the Board to the minutes of May 22, 2008, and asked for a motion on these minutes.
Motion: To accept the minutes of May 22, 2008 as presented.
Moved: R. Finch Second: Lee Sparaco
Discussion: None
Approved: C. Fortuna; L. Sparaco; D. LaMay; J. O’Brien; R. Finch 5-0-0
|
Selectman’s Report: At this time, Mr. Fortuna asked Selectman Pace for his report. Topics were as follows:
· Board of Selectmen’s Finance Model of the Town still unfolding and Mr. Pace noted that the Town is in good shape;
· Mr. Pace looking at next year’s budget already and currently settling the final contract with Supervisors; The BOS will vote to ratify the new contract at their next meeting;
· Re: WPCA’s plan and waste water solutions; the plan includes site by site improvements needed for properties; WPCA will hold a public information and education session to unveil the facilities plan to residents at a public meeting planned for week of August 18th. The plan must meet DEP and Dept. of Public Health code standards. Selectman Peace noted new technology called the “green system;”
· Founders Park: road is in and plants are in; open during daylight hours; no lighting;
Mr. Sparaco asked re security; Mr. Peace noted that Founders Park is gated and will close at sunset and it will require minimal maintenance;
· Chip sealing on new roads; started on Old Post Road; new aesthetic look; less expensive than asphalt; don’t have to re-set catch basins;
· Maintaining infrastructure in Town; sidewalk plans; enhance bike travel; safe neighborhoods;
· Town has locked in Fuel: Diesel $4.40/gal; Gas $3.91gal; Heating Oil $4.30 gal;
· Steel came in for KHCAC building; working on a lighting and sound package; Trustees still raising money for KHCAC;
Chairman Fortuna, at this time, read an article on police and firefighter workers compensation benefits from CCM.
Treasurer’s Report: Mr. Fish passed out 2 reports to the commission. The General Fund Operating Budget for the fiscal year 2007/2008 ending June 30, 2008 included the new Board of Ed appropriation. Mr. Fish discussed the expenditures and revenues. He noted that the revenues were under by approximately $50,000 due to the shortfalls by the State of Connecticut. Overall there was a surplus of $279,268.00 in the 07/08 budget.
Mr. Fish applauded the Board of Finance for scheduling the referendum early, so that the tax bills got out mid June and to date 6 million dollars have been collected for 2008 taxes.
Selectman Pace noted the effort of Department Heads to conserve on their budgets.
A discussion followed with regard to the Capital Outlay Sinking Fund Budget Allocations. The Board of Selectmen would like to reestablish the Municipal Building fund and allocate $150K to said fund. Historically, this fund has existed but has not existed in the last 3 or 4 budget cycles. Mr. Fortuna asked if, once this fund was established BOF approval would be needed for expenditures over $25K. Mr. Sparaco commented that he felt that if any money is to be expended over $25K, for example for KHCAC, it should go to a town vote.
Mr. Finch had questions about Moody ratings and whether Moody was pleased with our current undesignated fund balance. Mr. Fish replied that Moody is pleased that we are committed to rebuilding our fund balance.
Under “Uncommitted Funds,” Mr. Fish explained that there was interest from uncommitted funds in the amount of $48K from the 07/08 budget. The Board of Finance was asked to approve the appropriation of this amount divided as follows: $20K to the Fishway; and $28K to Founder’s Park.
Motion: To add agenda item regarding uncommitted funds and action to be taken. Moved: C. Fortuna Second: D. LaMay
Discussion: None
Approved: C. Fortuna; L. Sparaco; D. LaMay; J. O’Brien; R. Finch 5-0-0
|
Motion: To approve the appropriation of $48K to be split as to the following: $20K to the Fishway; and $28K for Founder’s Park.
Moved: C. Fortuna Second: R. Finch
Discussion: Mr. Finch noted that the Board of Finance wasn’t informed of this ahead of time. Mr. Finch wanted to go on record that he will never “vote” this way again. Mr. Sparaco commented that the board would only be able to move amounts under $25K according town charter.
Motion not approved.
|
Motion: To withdraw the motion to approve the appropriation of $48K to be split as to the following: $20K to the Fishway; and $28K to Founder’s Park.
Moved: C. Fortuna Second: R. Finch
Discussion: None
Approved: C. Fortuna; L. Sparaco; D. LaMay; J. O’Brien; R. Finch 5-0-0
|
Motion: To approve the appropriation of $20K of the uncommitted funds to the Fishway.
Moved: C. Fortuna Second: R. Finch
Discussion: None
Approved: C. Fortuna; D. LaMay; J. O’Brien; R. Finch 4-1-0
Opposed: L. Sparaco |
Selectman Peace noted that he remembered that an appropriation was already made at a Town Meeting for Founder’s Park, but didn’t know for sure. He commented that he would check with the Town Clerk to see if this was so.
Chairman Fortuna noted an article in the Wall Street Journal re yellow buses and diesel fuel costs.
The BOS noted that they were interviewing for the vacant position on the Board of Finance.
Chairman Fortuna inquired as to the irrigation at the school fields and if it was in place. Mr. Sparaco commented that it was moving forward.
Mr. Fortuna also noted that a wrestling program was added to the curriculum at the High School with an approximate cost of $10K.
Mr. Finch inquired re the Police Commission. Ms. Lewis noted that Chairman Fortuna had invited the Chief and the Chairman of the Police Commission to come before the Board of Finance previously. Chairman Fortuna noted that he will have them at a future meeting.
Public Comment: Ms. Castagno inquired as to when BOF’s web page would be up and running. Ms. Lewis replied that it could possibly be completed by the next meeting.
At this time, Mr. Fortuna asked for a motion to adjourn.
Motion: To adjourn at 8:57 p.m.
Moved: R. Finch Second: C. Fortuna
Discussion: None
Approved: C. Fortuna; L. Sparaco; D. LaMay; J. O’Brien; R. Finch 5-0-0
|
Respectfully submitted:
Gerri Lewis, Clerk
| 