MINUTES
BOARD OF FINANCE
FEBRUARY 21, 2012
A REGULAR MEETING of the Board of Finance was held in the City Hall Auditorium on Tuesday,
February 21, 2012.
Present were Mayor Ryan Bingham, Corporation Counsel Ernestine Weaver, Board of Finance members Bill Lamoin, Laurene Pesce, Mark Bushka, Brian Paganini, Thomas Scoville and Wendy Traub, City Clerk Joseph Quartiero and Comptroller Alice Proulx.
Mayor Bingham called the meeting to order at 5:00 p.m.
MINUTES
On a motion by Mrs. Traub, seconded by Mr. Scoville, the Board voted unanimously to accept the minutes of the Regular Meeting held on November 15, 2011. Mr. Lamoin abstained.
On a motion by Mr. Bushka, seconded by Mr. Traub the Board voted unanimously to accept the minutes of the Special Meeting held on November 28, 2011. Mr. Lamoin abstained.
OPEN TO THE PUBLIC
On a motion by Mr. Paganini, seconded by Mrs. Traub, the Board voted unanimously to open the meeting to the public. There was no one present who wished to speak.
BUSINESS BY MAYOR AND MEMBERS OF BOARD OF FINANCE
On a motion by Mrs. Traub, seconded by Mrs. Pesce, the Board voted unanimously to consider business by the Mayor and members of the Board of Finance.
Mayor Bingham informed the Board that he will be doing his best to work with Department Heads to pare down their budgets. He said negotiations will be starting with the Police and Firemen, and he will be working with the consultant on the annual review of the health insurance carrier. He thanked Ms. Proulx for her leadership and planning in rolling out the new financial system upgrade which has a lot of wonderful features and will help the Board in the decisions they make.
Mrs. Pesce asked if we are cleaned up from the storm. Mayor Bingham said a lot of paperwork still has to be completed and some broken limbs need to be cleaned up. He said people need to be careful around large trees. He added that everyone seems pleased with the local response and it was definitely a learning experience.
Mr. Scoville asked if we have heard from FEMA. Mayor Bingham said we are eligible for reimbursement, and the President has declared both Irene and the October snowstorms as emergencies. Ms. Proulx explained that the funds came out of the Contingency line item. She plans on either replenishing Contingency with the reimbursed revenues or amending the budget for an additional revenue and increasing the Contingency line so we're not netting out the expenses. Mayor Bingham said an Emergency line item might be added to the budget to allow for items that are reimbursed.
Mr. Scoville asked about the audit report and where the undesignated fund balance is at. Ms. Proulx said last year's expenses exceeded revenues by about $400,000. She estimated the fund balance is at 3.5. She said she will have Blum Shapiro give an audit presentation to the Board.
Mrs. Traub questioned the potential increase of around 9% in health insurance. Mayor Bingham said a placeholder number of 11 was used but it's a broad number and he is confident it will go down.
ADJOURNMENT
On a motion by Mrs. Traub, seconded by Mr. Paganini, the Board voted unanimously to adjourn at 5:23 p.m.
ATTEST: JOSEPH L. QUARTIERO, CMC
CITY CLERK
Respectfully Submitted,
Carol L. Anderson, CCTC
Asst. City Clerk
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