302 Main Street Old Saybrook, Connecticut 06475-1741
BOARD OF FINANCE MINUTES SPECIAL MEETING JANUARY 17, 2016 at 6:00 P.M. FIRST FLOOR CONFERENCE ROOM TOWN HALL |
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BOF Attendant Members Absent Members
David LaMay, Chairman Brad Thorpe, Vice Chairman
Tom Stevenson
Breck Lindley
Barry O’Nell
John O’Brien
Carol Rzasa
In Attendance
Carl Fortuna, First Selectman
Bob Fish, Treasurer
Carol Conklin, Selectwoman
Lee Ann Palladino, Finance Director
Michael Spera, Chief of Police
Jan Perruccio, Superintendent of Schools
Julie Pendleton, Director of Finance and Operations
Gerri Lewis, Clerk
Call to order
Mr. LaMay called the special meeting to order at 6:00 PM
Pledge of Allegiance
Mr. LaMay led the Pledge of Allegiance.
Minutes:
A motion to approve the minutes of January 3, 2017 was made by Mr. O’Nell seconded by Mr. O’Brien and was so VOTED unanimously.
Board of Education Report:
Ms. Perruccio noted the current year information as follows: The State reduced educational cost sharing grant dollars in December for the current fiscal year by $103,000. At this time the district has a surplus due to salary and benefit savings.
Ms. Perruccio went on to report on the Budget and Fiscal Planning Committee and BOE member regarding the 2017-2018 Budget Proposal. She noted that the proposed budget includes the necessary funds to promote and support the work defined by the District’s 2016-2021 Mission and Strategic Plan. Ms. Perruccio noted that the budget that they will present will be responsible and forward thinking.
Mr. O’Brien inquired about Special Ed. Costs. Ms. Pendleton indicated that everything is on track to what they had anticipated. She noted that they expect to receive all of the funds that they’ve expended, back from the state. Ms. Pendleton also noted that transportation is running flat at the present time. Ms. Lindley inquired regarding legal situations. Ms. Perruccio noted that it was not anticipated that anything will be carried into the next fiscal year. Arbitration is scheduled for March on the Turf Field.
Mr. LaMay thanked Ms. Perruccio and Ms. Pendleton.
Mahoney Sabol Audit Report:
Ms. Jennifer Hawkins and Ms. Samantha Thomas were present to go over the presentation of the audit report. A copy of this report can be seen in the Finance Director’s Office or the Office of the Treasurer. The Town of Old Saybrook is in good standing.
Mr. LaMay thanked Ms. Hawkins and Ms. Thomas.
Finance Director Report
Ms. Palladino will report at the joint meeting segment.
Selectman’s Report:
Selectman Fortuna reiterated what he has been talking about with regard to the street light project. He noted that he will be asking the Board of Finance for money and approval of the project.
He went through the financial details once again. He noted that to purchase lights would be $200,000. Our yearly invoice would decline by about 50% from $150,000 to about $75,000. We would still need a maintenance contract for approximately $25,000 so savings of about $50,000 per year minimum. This would allow us to do a separate RFP strictly for re-lamping to LED. This likely would save at least another $25,000. Total project cost would likely be (purchase plus re-lamping) $450,000, so payback of 6 years or so.
He noted that he would use Key Bank for financing. He asked the Board of Finance to strongly consider moving on this project.
Selectman Fortuna noted that the time frame from town approval to implementation would be approximately 6 months.
Mr. LaMay thanked Selectman Fortuna.
Public Comment:
None
Comments From The Chair:
Chairman LaMay noted that there will be a Joint Meeting with the Board of Education on Tuesday, February 7th, 6:00 P.M. at the Middle School Library, prior to the BOF regular meeting at 7:00 P.M. at the town hall.
Mr. LaMay thanked everyone and adjourned for the joint meeting with Board of Selectmen.
A motion to adjourn was made by Mr. O’Nell, seconded by Mr. O’Brien at 7:27 p.m. and so VOTED unanimously.
This meeting in its entirety was video taped and can be viewed on Town Website YouTube.
Submitted,
Gerri Lewis, Clerk
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