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 TOWN OF OLD SAYBROOK
Board of Finance |
302 Main Street Old Saybrook, Connecticut 06475-1741 |
MINUTES JANUARY 3, 2012 7:00 P.M. First Floor Conference Room Old Saybrook Town Hall |
CALL TO ORDER Chairman David LaMay called the meeting to order at 6:58 p.m.
Attendant Members Absent Members
David LaMay Barry O’Nell
Grant Westerson
John O’Brien
Tom Stevenson
Brad Thorpe
Derrik Kennedy
In Attendance
Carl Fortuna, First Selectman
Steven Gernhardt, Selectman
Bob Fish, Treasurer
Barry Maynard, Tax Collector
Michael Spera, Chief of Police
Larry Bonin, Director Public Works
Julie Pendleton, Director of Finance & Operations, BOE
Joanne Sullivan, Budget & Fiscal Committee BOE
Gerri Lewis, Clerk
PUBLIC COMMENT: None
MINUTES DECEMBER 20, 2011:
Chairman LaMay asked for a motion on the minutes.
Motion: To approve the minutes of December 20, 2011 as presented.
Moved: G. Westerson Second: B. Thorpe
Discussion: Mr. Kennedy asked that his request to have any reports to the Board of Finance be given to them ahead of time be noted. Ms. Lewis noted that she omitted Mr. Maynard’s name from the attendance of December 20th.
Motion: To approve the minutes as amended.
Moved: G. Westerson Second: B. Thorpe
Approved: D. LaMay; G. Westerson; J. O’Brien; T. Stevenson; D. Kennedy; B. Thorpe 6-0-0
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PUBLIC WORKS UPDATE: Mr. Bonin reported on the following:
- Secretary in Selectman’s Office is tracking jobs on spreadsheet;
- Truck will have sign, “OS Public Works”;
- Mr. Bonin will email Selectman at end of everyday;
- 78 miles of road need attention;
- Public Works responsible for roads; sidewalks; maintenance of buildings;
- Mr. Bonin noted that the Transfer Station and Public Works are on an Aquifer; he noted that there are Aquifer Laws; Aquifer Protection Agency is overseen by Inland-Wetlands Commission;
- Last year Public Works carried over $100K; this was approved at town meeting; money has to be used by 6/30/12;
left;">Boilers are original at Goodwin School; windows a big issue;
HVAC units at schools are big ticket items;
A long discussion with regard to the windows at the Goodwin School ensued. Mr. LaMay noted the “wall of windows” and the unit ventilators. It was noted by Ms. Pendleton that they will have to be replaced with the same type of window with unit ventilators. Windows are $60K for each replacement.
Mr. Thorpe noted that we should be proud of the condition of the schools. Mr. Stevenson took photographs and was very impressed. Mr. Gernhardt noted that Ms. Pendleton has creative ideas for the boilers and he also commented on the great work that Public Works did on the Library.
Mr. LaMay thanked Ms. Pendleton and welcomed Ms. Sullivan to the meeting.
Selectman Report:
Selectman Fortuna touched upon the following:
- Mr. Fortuna will be coming to the Board with a Capital Improvement Plan;
- Will discuss funding the Municipal Reserve Account;
- Will discuss the Police Department; noted that there is 1 ½ years left of $36K/yr on lease;
- Looking ahead 5 – 10 years of bonding;
oke with Mark Chapman re Financial Planning for Town;
Municipal Reserve Fund will count toward cash balance;
night shift’s responsibility of the Police Department.
- Mr. Fortuna continued and noted that he attended the Police Commission meeting; he noted the promotions and steps;
ns were made in order to change this fund over to the Municipal Reserve Fund. A short discussion followed.
Mr. Fish handed out the Annual Financial Report for the year ended June 30, 2011 to the Board. He noted that Mr. Nossek of Kostin Rufkess would be able to come to a future meeting for questions.
He called the Board’s attention to the Management’s Discussion and Analysis for the Year Ended June 30, 2011. He went over the “Financial Highlights” and overview of the basic financial statements. Mr. Fish briefly went over the “Conditions” and noted that we’ve done significantly well. He noted that our total capital assets totaled $77,800,000.
Mr. Fortuna noted that the Municipal Reserve Fund will help our rating.
The subject of the “resolution” with regard to “encumbrances and carryovers” was a concern by Mr. O’Brien and he noted that it should be maintained. A long discussion ensued. Mr. Fortuna noted that the resolution should be reviewed.
Mr. Kennedy inquired of Mr. Fortuna re Policies and Procedures. Mr. Fish noted that an investment policy was needed as well.
Chairman LaMay noted that he would like to have the department heads at a Board of Finance meeting.
It was noted that a few of the Board members would attend a budget workshop by CCM on the coming Saturday in Southington.
Mr. LaMay thanked Mr. Fish and at this time, asked for a motion to adjourn.
Motion: To adjourn at 9:02 p.m.
Moved: B. Thorpe Second: G. Westerson
Discussion: None
Approved: D. LaMay; G. Westerson; J. O’Brien; T. Stevenson; D. Kennedy; B. Thorpe 6-0-0
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Respectfully Submitted,
Gerri Lewis, Clerk
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