BOARD OF FINANCE
TOWN OFFICE BUILDING
40 OLD FARMS ROAD
WILLINGTON, CT 06279
REGULAR MEETING MINUTES
Thursday, January 15, 2015
Members Present: Members Absent:
Alan Ference, Chairman
John Patton, Vice Chair
Jim Bulick
Peter Latincsics
Robert Wiecenski
Elizabeth Treiber
Annemarie Poole, Alternate
Geoff Prusak – Alternate
Also Present: Christina Mailhos, 1st Selectman; John Blessington, Selectman; Donna Latincsics, Business Mgr; Tish Ignatowicz, Treasurer
Chairman Ference called the meeting to order at 7:05 P.M.
SEATING OF ALTERNATES - none needed
PRESENT TO SPEAK – no one
APPROVAL OF MINUTES
Motion to approve the Regular Meeting Minutes of December 18, 2014 was made by Jim Bulick, John Patton seconded. All were in favor, motion carried.
NEW BUSINESS
Vibrant Communities Initiative Grant
1st Selectman Mailhos informed the Board of the grant that was awarded to the Town for $50,000. It's not a Steap Grant or a matching grant that funds have to be put up by the Town first. A Town meeting has been called to accept the grant. Not sure if a motion is needed by the Board of Finance because none of our funds will be needed. Discussion followed. Because the funds do not go thru the Town a motion is not needed.
Board of Finance -2- January 15, 2015
OLD BUSINESS
Fund Balance Policy
Donna Latincsics presented the Board with the revised Fund Balance Policy with the changes that were asked for at our last meeting. The unassigned fund balance was changed to a range of 8 - 12% and what the plan would be if it falls outside the stated range.
John Patton motioned to approve the Fund Balance Policy, Jim Bulick seconded. All were in favor, motion carried.
Student Enrollment
Chairman Ference said that he spoke with Superintendant Harding and he has received an email with the information. He will forward this to the Board.
DEEP
Selectman Mailhos updated the Board. There is a meeting of all the stakeholders next week with a update on the changes to be released in February. Discussion followed. Selectman Mailhos has sent a letter stating that there is no way to report that we should be exempt.
CORRESPONDENCE
Annemarie Poole shared with the Board a list of what the other local school districts are doing for their OPEB (Other Post Employment Benefits).
GOOD & WELFARE
The Board's condolences go out to the family of Joe Voboril, who passed away earlier today. He will be missed.
Our next meeting, which begins the budget process will be held February 5, 2015 with the Board of Education presenting their budget.
ADJOURMENT
The meeting was adjourned at 7:55 p.m.
Respectfully submitted,
Debra L. Lewis
Debra L. Lewis
BOF Recording Secretary
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