MINUTES
January 5, 2010 at 7:30 P.M.
Old Saybrook Town Hall
305 Main Street
I. CALL TO ORDER Chairman, Carl Fortuna, called the meeting of the Board of Finance to order at 7:31 p.m.
Attendant Members Absent Members
Carl Fortuna, Chairman George Whelen, Vice Chairman
David LaMay
John O’Brien
Lee Sparaco
Grant Westerson
Barry O’Nell
IN ATTENDANCE:
Michael Pace, First Selectman
Bill Peace, Selectman
Robert Fish, Treasurer
Christina Burnham, Chairman, Police Commission
Gerri Lewis, Clerk
COMMENTS FROM THE PUBLIC: None
MINUTES: Mr. Fortuna asked for a motion on the minutes of December 1, 2009.
Motion: To approve the minutes of December 1, 2009 as presented.
Moved: C. Fortuna Second: L. Sparaco
Discussion: There were corrections as follows: Location is Town Hall not Pavilion; Date in motion for minutes is November, not February.
Motion: To approve the minutes of December 1, 2009 as amended.
Moved: B. O’Nell Second: C. Fortuna
Approved: C. Fortuna; D. LaMay; J. O’Brien; G. Westerson; L. Sparaco; 6-0-0 |
Board of Finance
January 5, 2010
BOARD OF ED REPORT: None
SELECTMAN’S REPORT:
Mr. Pace and Mr. Sparaco noted that they met with regard to the Capital Outlay Sinking Fund (COSF).
Mr. Pace reported on the reval court cases, specifically the OS Shopping Center, which there is an agreement that the judge mediated. Four other residential properties were settled. Due to the reval, the $30K that was budgeted for legal will be a few thousand over when all is said and done.
Mr. Pace reported that he has appointed a facilities research committee for the Police Department building. There is about 9 people on the committee. On the committee is Dan Moran, Tim Conklin, Charlie Robertson, to name a few. This research will take about a year.
There is approximately $43K in the COSF for this effort. Mr. Pace noted that money will be needed for architectural and engineering plans. The money was already designated for this purpose in the COSF. Mr. O’Brien inquired as to when the BOS will take a vote on these funds to be used for the Police Department facility and present it to the BOF. Mr. Sparaco said he didn’t see a problem with the designation of funds as they were already in the COSF for this purpose.
Mr. O’Brien noted that the school roofs would need attention as well. Mr. Pace said he would rather do short term borrowing than use the bond money. Mr. Pace noted that our bond rating and reserve of dollars will show well in the market place 12 to 13 months from now. This is when the Goodwin windows could be budgeted. The Library comes off the debt service model in 2013. Mr. Fortuna inquired as to the total bonding for the Library. Mr. Pace replied 2.4 million.
Mr. Pace told the Board that he is looking to bring in the next budget as close to “0” as possible. He noted that there would possibly be 1 police car; may have 2 retirements, no increase in property liability insurance; workers comp is down and 4 people are taking early retirement. CL&P possible increase of 5.18%.
The Social Services Director will be hired at 35 hr. per week. The Social Services coordinator will be hired at 25 hr. per week.
TREASURER’S REPORT:
Board of Finance
January 5, 2010
Mr. Fish handed out the General Fund Operating Budgets and Capital Outlay Sinking Fund Budget Allocations. Mr. Fish reported on the expenditures, revenues and fund expenditures. Mr. Fish noted that taxes are coming in well. We’ve already taken in 64%
in taxes. Mr. Fish suggested setting up Q&A meetings between himself, Mr. Pace, and the BOF liaisons.
A further discussion with regard to the skill level in the accounting office ensued. Mr. Fish noted that for future purposes, the skill level of at least an accountant was needed in the office. Mr. Fish discussed that institutional knowledge needs to be known by another. It was agreed that a job description for an accountant would be worked on.
Mr. Pace reported to the Board that he was looking to form a Charter Commission.
Mr. Sparaco noted that the next reval was 5 years away but there was a concern that we be prepared.
Mr. Pace brought up the concern of an unforeseen natural disaster and noted to the Board that he has a model for this and the cost for build back is staggering. He noted that there is no more money from the federal government for disaster mitigation.
There are 2 land acquisitions in progress. First one is Sherman Street; 2 acres. Second one is Bokum Road near to Essex; over 2 acres connected with open space from a development. Owner will sell for assessment of $15,000. There is a line item of “open space acquisition” which can be used to buy this land. There was a question as to whether or not this would have to go to a town meeting.
Mr. LaMay inquired re Economic Development activities. There is nothing happening at the moment. Mr. Peace reported on the Shoreline Rail Corridor and the need for more parking spaces.
There being no other business, Mr. Fortuna asked for a motion to adjourn.
Motion: To adjourn at 8:58 p.m.
Moved: G. Westerson Second: D. LaMay
Discussion: None
Approved: C. Fortuna; B. O’Nell; D. LaMay; J. O’Brien; G. Westerson; L. Sparaco 6-0-0 |
Respectfully Submitted,
Gerri Lewis, Clerk
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