302 Main Street Old Saybrook, Connecticut 06475-1741
BOARD OF FINANCE MINUTES REGULAR MEETING JULY 19, 2016 at 7:00 P.M. FIRST FLOOR CONFERENCE ROOM TOWN HALL |
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BOF Attendant Members Absent Members
David LaMay, Chairman Breck Lindley
Brad Thorpe, Vice Chairman
Tom Stevenson
Barry O’Nell
John O’Brien
Carol Rzasa
In Attendance
Carl Fortuna, First Selectman
Bob Fish, Treasurer
Lee Ann Paladino, Finance Director
Barry Maynard, Tax Collector
Steve Mongillo, WPCA Director
Larry Hayden, Director of IT
Call to order
Mr. LaMay called the meeting to order at 7:00 PM
Pledge of Allegiance
Mr. LaMay led the Pledge of Allegiance.
Minutes:
A motion to approve the minutes of June 21, 2016 was made by Mr. Thorpe, seconded by Mr.
O’Nell and motion passed with one abstention.
WPCA Report
Mr. Mongillo reported for WPCA with a Power Point presentation which can be obtained from the WPCA office or the Board of Finance clerk.
The following is: Typical Focus Area Project Schedule After NOEL Issued
- Focus Area Neighborhood Meeting Start -1 Day
- Residents Return Notice of Entry Letter (NOEL) Application 30 Days
- Initial Site Investigation 60 Days
3a. Conduct Test Pit and Perc Test 20 Days
3b. Measure and Record Property Features 20 Days
4. CRAHD Determines Upgrade Designations 14 Days
5. WPCA & CRAHD Provide F&O: Field Data & Upgrade Designations 7 Days
6. F&O Creates Survey Drawings and Project Manual 30 Days
7. F&O Issues Draft Contract Documents for Agency Review 1Day
8 Agency Review 14 Days
9. Bidding Process including Pre-Bid Meeting 30 Days
10. F&O Evaluates Bid & Recommends Award to OSWPCA 14 Days
11. OSWPCA Vote to Recommend Award to DEEP 1 Day
12. Assemble DEEP Request for Award Package& Agency Review 2 Days
13. DEEP Reviews & Approves Request for Award Package 7 Days
14. Assemble Agreement Package 2 Days
15. WPCA and Contractor Meet & Execute Agreement 1 Day
16. Construction 100 Days Approximate Time From Public Info Meeting to Project Completion = 315 days or 10 – 11 months.
Project funded by DEEP Clean Water Fund
CWF Grant: 25%; Town of Old Saybrook: 25%; Owner Responsibility: 50%
The board had many queries and comments. Mr. LaMay thanked Mr. Mongillo and noted that he would like monthly updates from WPCA.
Treasurer Report
Mr. Fish passed out his report to the Board of Finance for June 30th, 2016, thru July 15, 2016, two weeks of payables and receivables. He went through the expenditures noting the carryover for North Cove Planting of $2,000; and John Deere Loader of $105,942.70. He also went over the revenues. Mr. Fish reported that we will have a $550K surplus on the revenue side.
Mr. Fortuna noted that the town received an equity check from CIRMA for $32K, which is prorated between Board of Education and the Town.
Mr. LaMay thanked Mr. Fish.
Finance Director
Ms. Palladino provided a preview of the anticipated final budget for FY16 and discussed the line items that were projected to be over budget, most of which had been discussed at prior Board of Finance meetings. She then gave an update on the annual audit reported that it was going well. Finally she followed up on the balancing of the 730 account and said that it had been successfully balanced with the major areas of reconcilement falling within the Youth and Family build out this past fiscal year, the asset associated with the fuel account and the insurance claim that dated back to 2012. Going forward new accounts will be set up and balanced monthly.
Mr. LaMay thanked Ms. Paladino.
Selectman Report
Mr. Fortuna reported on the following:
- Moody’s has rated us AA2
- Refunding of $10M worth of bonds
- Will bring chart of town’s bonded indebtedness to next meeting
- Looking to ask BOF to consider making a one time appropriation to pension funding; town has Defined Benefit Plan
- Finance Director and Selectmen could make recommendation for a one time deposit to Pension Plan
- Board of Education started contract negotiations. Mr. Fortuna will sit in.
Mr. LaMay thanked Mr. Fortuna.
Liaison Reports
Mr. Thorpe noted that the police vessel was launched July 1st.
Public Comment
Inquiries included the following:
- RFP for the P.D.;
- Sewers
- WPCA/Sea Level Rise
- Computer Security breach at PD; Mr. Fortuna noted that CIRMA has one million dollar coverage for each town;
- Police boat
Comments from the Chair
Mr. LaMay thanked everyone for attending and noted, again, that he would like to see a monthly report from WPCA.
This meeting in its entirety was recorded on CD in Town Clerk’s office. It is also video taped and on You Tube.
A motion to adjourn was made by Mr. O’Brien, seconded by Mr. Thorpe at 9:32 p.m. and so VOTED unanimously.
Submitted, Gerri Lewis
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