The Town of Washington, Connecticut
Minutes: Board of Finance
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www.WashingtonCT.org The Town of Washington, Connecticut Minutes: Board of Finance |
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Disclaimer: While we have attempted to reproduce them accurately, the electronic documents you see here are not the official public documents. Official copies may be obtained on paper from theTown Clerk . Also note that minutes of recent meetings are often not yet approved by the Board, and are subject to correction.
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March 1 •January 25 •Previous years: 2009 • 2008 • 2007 • 2006 • 2005 • 2004 • 2003 • 2002
Posted: March 9, 2010 March 1, 2010
The following minutes of the Board of Finance hearing are submitted subject to approval at the next meeting.
Michael Jackson, Chairman called the meeting to order at 5:00pm.
Present:
Members: Michael Jackson, John Boyer
Alternates: Reginald Templeton, Arthur DuBois, Lisabeth Adams
Selectmen: Mark Lyon, Nick Solley
Treasurer: Linda McGarr
Guests: Tony BediniMichael Jackson seated alternates Templeton, DuBois and Adams.
Minutes:
Changes to the minutes should reflect the following:
Selectmen Nick Solley was present;
page 1, under Education, Valerie Friedman replaced with Valerie Anderson.
Minutes accepted with these changes.Treasurer’s Report:
Report accepted as submitted.Education Report:
Tony Bedini reports that work continues on the plan/estimates/bonding for the improvements to the three elementary schools, estimates are around 1.9 million in improvements. This repair project will go to referendum in May at the same time as the school budget. Michael Jackson commented that the three Towns are working well together.Tax Collector’s Report:
Mark Lyon reports that collections are down less than 1% from last year at this time. Report accepted as submitted.Selectman’s Report:
Mark Lyon reports that current income and expenses are on track. Looking ahead to 2010/2011 and speaking with the health insurance representative realistic budget figures should include a 15% increase, they will be looking into added ways to save, Mark will invite the health insurance representative to the next Finance Board meeting. Work will begin this week on the Capital budget.The Meeting was adjourned at 5:35pm.
Submitted subject to approval,
Pamela L. Osborne,
Acting Secretary
Posted: February 25, 2010 January 25, 2010
The following minutes of the Board of Finance hearing are submitted subject to approval at the next meeting.
Chairman, Michael Jackson called the meeting to order at 5:00 p.m.
Present:
Members: Jack Boyer, Barbara Brown, Gary Fitzherbert, Michael Jackson, Craig Schoon, Rex Swain
Alternates: Liddy Adams, Keith Templeton, A. J. Dubois
Selectmen: Mark Lyon
Treasurer: Linda McGarr
Guests: Tony Bedini, Jack FieldTreasurer’s Report:
Report accepted as submitted.The Board discussed the continued importance of safety in investing funds. Michael reported he had read the member documents for the merger of FNBL and Union Savings Bank and felt FNBL has made sensible decisions. He suggested funds remain with FNBL until the merger is complete.
Michael also reported an anticipated decrease of approximately $4,500,000 in the Grand List of a total of approximately $1,250,000,000. The bulk of the change is due to a significant decline in motor vehicles, as well as several large parcels of land being converted into 490 status. He advised the Board to be attentive to this.
Tax Collector’s Report:
Report accepted as submitted.
Financials:
Mark Lyon reported most expenses seem to be on track. The various departments are aware of their budgeted expenses.
Education:
Jack Field reported they continue to work with the Board of Education Facilities and Finance Committees on estimating costs and a funding plan to improve the three elementary school buildings. Current estimates are $2.23 million (+/-). The best estimate of the total eligible for bonding is $1,000,000. Much of the work cannot be bonded because it is work that has been deferred. The question remains if there is any other avenue for the Region to fund this work other than bonding. Valerie Friedman will seek an answer to this question and will work with the Boards of Finance of the three towns.Work on the schools is intended to begin when school is out in June and completed before school resumes. Jack Boyer questioned if federal funding might be available as renovations are being done for the health of the children. Jack Field will pursue this. The first of three meetings on this matter will be held on February 1. Michael had requested the Business Manager and Board of Ed Chair confer with bond counsel and the bank before this meeting. The Region may retain up to 1% of their budget annually toward capital costs. Currently there is approximately $400,000-500,000 in this capital fund.
The Board agreed on the importance of the public being educated on this matter. It was felt a referendum should describe the borrowing plan as proposed, should be specific to each building, and all should be in order as to what will be done and what it will mean to future financing. All are in agreement that the Region should handle this project. The towns should have a joint understanding of the process, as well as how it will affect the Region’s budget and how they may want to exercise their authority as a unit.
Tony Bedini reported things are going well in the maintenance area. He is working on a plan of implementation. A consensus of the three towns and the Region on the proposed repairs is extremely important.
Rex noted his understanding is that we will be making repairs that will be paid for over the next five years; however, the problem of what will be done in the long run still exists. Jack Field noted they are trying to include long-range planning into the lease structure. Work had been deferred because there was still the question of consolidation. Discussion on this will continue..
Mark Lyon updated the Board on consideration being given to establishing a regional committee of representatives from the Boards of Selectmen and Finance to discuss the pooling of resources in an attempt to save money and work in cooperation with the Region. It would require group meetings with the Board of Ed, the Finance Committee and the School Business Manager. He reminded the Board to keep in mind that the towns do not have authority over the Region’s budget, but this committee would be formed to better understand the Region’s budget process, to endorse it or not, and why. Michael has drafted a memo to the Selectman with the hopes of maintaining the Town’s expenditures flat from year to year, which may depend on reserves. He would hope that the Region would do the same and investigate ways of doing so. Hopefully, through working with each other and understanding each other’s budget responsibilities, we will learn a lot and be able to present the fact to the voters.
Pension Committee:
Rex requested the Board’s approval of the Certification of the Retirement Committee Appointment, which would be forwarded to the First National Bank of Litchfield. Approval by a majority of the three Pension Committee members will be required for all instructions to and requests of the Bank. The investment philosophy will require approval of the Retirement Committee and the Board of Finance. The current philosophy is to invest Plan assets in as conservative a manner as possible that will meet Plan goals. The trust agreement requires rebalancing decisions to be made between the Bank and the Committee on a quarterly basis. It was unanimously agreed that the Certification and Investment Policy Statements be adopted by the Pension Committee, with exceptions permitted by the Pension Committee and the Board.
Selectman’s Report:
108 New Milford Turnpike:
Mark reported the Town will close on this property in the next few weeks. LFR Environmental anticipates that he will be giving approval by the end of the week.State Bonds:
Mark urged the Board members to contact members of the CT Bond Commission to approve bonding for State funds.Town Budget:
Mark reported the Selectmen have been working on the budget and will attempt to come in with a flat budget. He is unsure if another 0% in payroll will occur. He has suggested beginning with 0-based numbers and what will be needed to get the job done.Cell Tower:
Mark reported Verizon has contacted the Town regarding a possible cell tower at the new town garage site. Discussion will continue as more information is received.
Vice-Chair:
Michael Jackson made a motion that Liddy Adams be appointed to serve as vice chair of the Board in his absence. The motion was seconded by Jack Boyer and passed unanimously by the Board.
Audit:
The summary of audit results was reviewed and approved. Policies and procedures will be reviewed further. We are in the process of updating job descriptions and it has been recommended that a more integrated accounting system might be considered. The Board is weighing the cross benefits of this suggestion.The meeting was adjourned at 6:47 p.m.
Respectfully submitted,
Kathy Gollow, Finance Secretary**Note: The next Board of Finance meeting has been rescheduled for March 1, 2010.
Meetings in 2009