302 Main Street Old Saybrook, Connecticut 06475-1741 BOARD OF FINANCE MINUTES REGULAR MEETING MARCH 3, 2015 7:00 P.M. First Floor Conference Room Town Hall |
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BOF Attendant Members Absent Members
David LaMay, Chairman Greg Gernhardt
Brad Thorpe, V. Chairman
Tom Stevenson
Breck Lindley
John O’Brien
Barry O’Nell
In Attendance
Carl Fortuna, Selectman
Bob Fish, Treasurer
Lisa Carver, Finance Director
Mr. LaMay called the meeting to order at 7:00 p.m.
Mr. LaMay led in the pledge.
III. MINUTES 01/20/2015;
A motion by Ms. Lindley to approve the minutes of 1/20/2015 was seconded by Mr. LaMay.
Motion approved with Mr. O’Brien abstaining.
IV. MINUTES 02/17/2015;
A motion by Mr. Thorpe to approve the minutes of 02/17/2015 was seconded by Mr. O’Brien.
Motion approved with Mr. O’Nell abstaining.
V. PUBLIC COMMENT; NONE
VI. FINANCE DIRECTOR REPORT
Ms. Carver handed out the proposal to provide financial software system consulting services from BlumShapiro. Ms. Carver asked the board to read through this proposal and noted that she would like to see the board recommend an appropriation from the undesignated fund balance. Mr. Thorpe inquired if there were other firms that do this. Ms. Carver noted that she had done business with this firm before. She is hoping that there will be a grant to cover this. Mr. Stevenson inquired if this software would have payroll capabilities to which Ms. Carver replied yes. He also inquired about bi-weekly payroll. It was noted that the unions would have to agree.
Ms. Carver reported that the RFP went out for auditor services to 14 firms in the state. She noted that there is already interest. The bids will be opened on Monday, March 30th at 2:00 p.m.
VII. TREASURER REPORT
Mr. Fish noted that the general government expenditures are normal in total. There are a few line items that are running high, but nothing we haven’t talked about before.
Bonded Indebtedness payments are on budget. There is a remaining bond payment due on May 1 from last year’s refunding.
Carryover expenses for roads and sidewalks are completed.
Mr. Fish commented that taxes continue to come in well. Total taxes received at year end will probably be above budget.
State of CT payment to Old Saybrook are as expected. Local revenues are normal, continuing to run higher than last year. Mr. Fish noted that there is nothing in the data that indicates a problem.
Ms. Lindley asked about the Tree Warden budget. It was noted that $5K was added to Tree Warden budget from Public Works tree cutting budget. Mr. Thorpe had several questions about the “off-budget” accounts. Mr. Stevenson asked about mooring fees. It was noted that these fees were the income source for Harbor Management.
Mr. Fish handed out Projected General Fund Revenues for the Year Ending June 30, 2016. This print out includes Property Taxes; Intergovernmental; and Local Income. The years covered were: 2012/2013 Actual; 2013/2014 Actual; 2014/2015 Budgeted; 2014/2015 Projected Actual; 2015/2016 Budget Recommendation. A copy of this can be obtained from the Treasurer’s Office.
IX. SELECTMAN REPORT
Mr. Fortuna discussed the following:
- Business activity is up;
- 3rd lowest projected mill rate in years;
- Capital Non-recurring has approximately $488K;
- Setting aside $50K for next reval;
- Heart & Hypertension now at $70K;
- Pension Board – biggest percentage increase due to federal guidelines;
- GASBY has changed; more actuarial time;
- Increase IT employee from 25 to 30 hrs/wk.;
- Police Budget up 4.9%; full time assistant;
- Sgt. Gardner – IT consultant at $45/yr.; if removed from PD budget it would be 3.4%;
- Total IT budget for town is $90K;
- Town Hall budget: CL&P 10% increase; bid auction for energy w/ Lyme/Old Lyme;
- Hiring Facilities Manager part time;
- Town budget: 1.3 mills increase; debt is The Preserve;
- Political Subdivision piece of budget: gave $3K to Boy Scouts;
- Spoke with town engineer about the Transfer Station;
- Will be going to Zoning about the pavilion at the town beach;
Mr. O’Nell asked the Finance Director for the list of assets/inventory as discussed previously.
Mr. Stevenson asked if there were any renderings for the Transfer Station to which Mr. Fortuna replied no.
X. CHAIRMAN’S COMMENTS: Mr. LaMay noted that they will be having special meetings for budget discussions.
At this time, Mr. Stevenson gave Mr. Fortuna a memo to the “Board of Selectmen” from the Board of Finance The memo is dated March 3, 2015 and reads as follows:
Members of the Board of Finance recommend to the Board of Selectmen that they enact a policy concerning all past and future grants and applications for grants. We recommend that copies of all past grants, within the last three years, be on file with the Selectman’s Office and reviewed for any obligations that encumber this town. We further recommend that all future grants be reviewed by the Selectman’s Office and that at least two of the three selectmen must sign for the grant and all its responsibilities and obligations, as the highest elected officials. This recommendation for the Board of Selectmen to enact this policy will prevent any future shortsightedness by Commissions, Boards and special interest groups from obligating this town without full transparency to the public
and their support!
Respectfully, David LaMay, Chairman, Brad Thorpe, Vice-Chairman, Thomas Stevenson, Barry O’Nell, John O’Brien, Breck Lindley, Greg Gernhardt.
X. PUBLIC COMMENT: None
These minutes are recorded in their entirety on CD in the Town Clerk’s Office.
XI. ADJOURNMENT
Motion to adjourn was made by Mr. Thorpe and seconded by Ms. Lindley at 8:47 p.m.
Submitted:
Gerri Lewis, Clerk
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