These minutes are for informational purposes only. For official minutes please contact the Town Clerk's Office.

REGULAR MEETING

JULY 18, 2000

1. CALL TO ORDER

Paul Henault, Chairman, called the Regular Meeting of the Board of Finance to order at 6:02 p.m. in the Main Meeting Room of the Simsbury Town Offices. The following members were present: James Belfiore, Peter Askham, Michael Wade and Candace Fitzpatrick. Mary Glassman arrived at 6:08 p.m. Also present were Kevin Kane, Finance Director, Anita Mielert, First Selectman, David Holden, Business Manager, Mike Wrabel, Director of Public Works, and other interested parties.

2. APPROVE MINUTES FROM THE JUNE 20, 2000 REGULAR MEETING

Mr. Askham moved to approve the minutes of the June 20, 2000 Regular Meeting. The motion was seconded by Ms. Fitzpatrick and carried unanimously, with Mr. Wade abstaining.

3. OPERATING BUDGET TRANSFERS

Chairman Henault noted receipt of two July 7, 2000 memos from Mr. Kane regarding General Fund (Addendum 1) and Special Revenue Fund (Addendum 2) budget transfers. Mr. Askham questioned why the Police Department full-time budget was under-funded. Mr. Kane stated that this was due to the training of new officers prior to the retirement of existing officers. Chairman Henault questioned whether the EDC has budgeted the same amount for consulting services this year. Mr. Kane stated that the EDC reduced their budget by $10,000. He confirmed that the recreation transfers are separate from the Simsbury Farms Special Revenue Fund.

Chairman Henault questioned whether the overall General Fund transfer amount of $131,000 is comparable to last year. Mr. Kane stated that it is comparable if you exclude the large items. In response to Mr. Askham, Mr. Kane stated that the Simsbury Farms Special Revenue Fund revenues exceeded expenditures by $24,000 and no additional subsidy went into this fund.

Mr. Askham moved to accept the General Fund and Special Revenue Fund 1999/2000 budget transfers. The motion was seconded by Mr. Belfiore and carried unanimously.

4. ENO MEMORIAL HALL

· Status of 5-Year Capital Plan

· Recap of Expenditure Paid From Eno Memorial Hall Capital Fund

Mr. Wrabel distributed an update on the improvements and enhancements to Eno Memorial Hall (Addendum 3). He reviewed the completed, in process, and future items. He stated that an additional $452,000 would be needed to complete all of the items listed on Page 1. Ms. Mielert pointed out that the Gifford Pinchot celebration will be occurring on August 11th and will include events at Eno Memorial Hall.

5. BOARD OF EDUCATION CAPITAL PROJECT STATUS REPORT ON THE FOLLOWING CAPITAL PROJECTS

· Henry James Expansion Project Phase I - detailed accounting of cost over-runs (est. $300,000)

· Henry James Expansion Project Phase II - projected dollar deficit or surplus

· Tootin' Hills Expansion Project - projected dollar surplus

Mr. Holden reviewed his July 12, 2000 memo (Addendum 4). Mr. Askham questioned whether the change orders for these projects are extras or necessities. Mr. Holden stated that these are field changes which are surprise items or items that were unanticipated but need to be included. He stated that the Public Building Committee has a subcommittee for each project and they make a recommendation to the full Public Building Committee who approves the change orders.

In response to Chairman Henault, Mr. Kane reviewed the bonding situation for these projects. Mr. Askham expressed his concern that funds are being spent on these projects which were not authorized by the voters. Mr. Kane stated that the BOF has authorized the transfers from RESERVES so there should not be an issue with the auditors.

6. OTHER BUSINESS

Mr. Askham questioned whether the BOE was within their budget last fiscal year. Mr. Holden responded that, prior to audit, the Public School budget had a $3,500 surplus and the Non-Public School budget had a $1,300 surplus. Chairman Henault questioned the status of the fuel budget. Mr. Holden responded that the BOE was approximately $20,000 over their budget. He stated that they are going out for a second bid for the coming year which will allow them to lock in a price between now and the end of August. He stated that they hope to lock in a price of less than $.80 per gallon.

Chairman Henault noted receipt of Mr. Kane's July 18th memo regarding the Projected Undesignated Fund Balance. He pointed out that the $4.3 million projected amount is more favorable than had been anticipated. Mr. Kane stated that he is still reviewing revenues and he pointed out the footnote included in his memo.

7. ADJOURNMENT

Mr. Belfiore moved to adjourn the meeting at 6:45 p.m. The motion was seconded by Ms. Glassman and carried unanimously.