BOARD OF FINANCE
Motions made Tuesday, February 5, 2008 at 7:00 PM
Christ the King Parish Center, 1 McCurdy Road, Old Lyme, CT 06371
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Present: Regular Members:~ Andrew Russell, Wayne Devoe,
H. P. Garvin, III, Christopher Kerr, David Woolley
(Mark Diebolt arrived after the meeting had begun)
Alternate Members:~ Judy Read, Ruth Roach, Janet Sturges
Timothy C. Griswold, Ex-officio
Guest: Skip Sibley, Selectman~~~
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~Mr. Russell called the meeting to order at 7:00~p.m.~~
Mr. Diebolt had not yet arrived. Motion made by Mr. Devoe; seconded by Mr. Garvin for alternate Judy Read to vote in place of Mr. Diebolt. Motion carried unanimously. Mr. Diebolt subsequently arrived at meeting.
Minutes of January 15, 2008
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The minutes of January 15 were reviewed.~ Mr. Woolley made a motion, seconded by Mr. Devoe to approve the minutes, with a spelling correction on page 2 (Debt instead of Debit).~Motion carried unanimously.
Budget Review
Chartered Beach Associations: Mrs. Roach presented chartered beach association requests. After lengthy discussion, members agreed to defer further discussion & decision to a later meeting (not set)
LYSB: Mrs. Roach and Mr. Woolley presented LYSB budget projection and funding request. Mr. Kerr made a motion, seconded by Mr. Devoe, to approve the request of $66,000 for LYSB. Motion carried unanimously.
Parks and Recreation: Mr. Kerr and Mr. Devoe presented budget requests for Parks & Recreation, Town Woods Park, Little League, and Fireworks/Memorial Day.
Mr. Diebolt made a motion, seconded by Mr. Woolley, to approve the request of $84,170 for Parks & Recreation (excluding salaries). Motion carried unanimously.
Mr. Diebolt made a motion, seconded by Mr. Garvin, to approve the request of $102,650 for Town Woods Park. Motion carried unanimously.
Mr. Kerr made a motion, seconded by Mr. Diebolt, to approve the request of $3,500 for Little League. Motion carried unanimously.
Mr. Kerr made a motion, seconded by Mr. Woolley, to approve the request of $20,500 for Fireworks/Memorial Day. Mr. Devoe opposed the motion, which was passed.
Mr. Devoe made a motion, seconded by Mr. Garvin, to fund Fireworks with $18,000 from the Soundview Parking Lot account. Motion carried unanimously.
Capital Project Funds: Mr. Diebolt presented the budget requests for Revaluation, Landfill Closure, Open Space/Land Acquisition, and Fire Equipment. After discussion, members agreed to reduce the amount requested ($75,000) for Open Space. Mr. Kerr made a motion, seconded by Mr. Diebolt, to approve $30,000 for Revaluation, $200,000 for Landfill Closure, $350,000 for Fire Equipment, and $25,000 for Open Space, for a Capital Project Funds total of $605,000. Motion carried unanimously.
Debt Principal and Interest: Mr. Diebolt presented the budget requests. Mr. Diebolt made a motion, seconded by Mr. Devoe to approve $100,000 for Debt Principal on Library, $5,700 for Debt Interest on Library, and $175,600 for Debt Interest on Town Hall Renovation, for a total of $284,300. Motion carried unanimously.
The next Board of Finance Budget Review meeting is scheduled for Tuesday, February 12, 7pm at Christ the King Parish Center. Budgets to be discussed are Police Services (Resident State Trooper, Municipal Police, and Rogers Lake Authority) and Other Associations (OLPGN Library, Florence Griswold Museum, Lyme Academy College of Fine Arts, Lyme Art Association, Old Lyme Historical Society, and Ole Lyme Affordable Housing). Salaries, originally scheduled for Feb. 12, will be deferred to a later meeting.
Mr. Kerr made a motion, seconded by Mr. Diebolt to adjourn the meeting. Meeting adjourned at 8:54pm
Catherine Frank (for Michele Hayes-Finn)
2/6/08
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