BOARD OF FINANCE
JUNE 7, 2001
SPECIAL MEETING
1. CALL TO ORDER
Paul Henault, Chairman, called the Special Meeting of the Board of Finance to order at 8:30 p.m. in the Henry James Memorial Middle School Cafeteria, 155 Firetown Road, Simsbury, Connecticut. The following members were present: James Belfiore, Candace Fitzpatrick, Peter Askham, Michael Wade and Mary Glassman. Also present were Kevin Kane, Finance Director, Gerard Toner, Director of Culture, Parks and Recreation, Anita Mielert, First Selectman, Mary Margaret Girgenti, Board of Education Chairman, and other interested parties.
2. APPROVE MINUTES FROM THE MAY 15, 2001 REGULAR MEETING
Mr. Wade moved to approve the amended minutes of the May 15, 2001 Regular Meeting. The motion was seconded by Ms. Fitzpatrick and carried unanimously, with Ms. Glassman abstaining.
3. OPERATING BUDGET TRANSFERS
Chairman Henault noted receipt of Jim Clifton’s memo (Addendum 1) requesting an internal transfer within the WPCA budget.
Ms. Fitzpatrick moved to accept the internal transfers as presented in Jim Clifton’s May 23, 2001 memo. The motion was seconded by Mr. Belfiore and carried unanimously.
4. AMEND FISCAL YEAR 2000/01 SIMSBURY FARMS SPECIAL REVENUE FUND, REVENUE AND APPROPRIATION BUDGETS
Mr. Toner discussed his May 9, 2001 memo (Addendum 2). He stated that certain programs have exceed anticipated program revenues and the golf course has not had a good season to date. He noted that he is holding off on the purchase of materials and has reduced part-time costs.
Mr. Toner reviewed the revenue figures for the month of May. Mr. Belfiore pointed out that $1.2 million in revenues has been received, yet the projection is for $1.46 million in revenues. Mr. Toner stated that he hopes to be within $10,000-$20,000 of the $1.46 million figure. Mr. Askham questioned whether the $88,000 fund balance will be used. Mr. Toner stated that he does not expect to use any of the fund balance and he stated that the $47,000 Town subsidy should be adequate. Mr. Toner briefly discussed the disputed $7,000 ice rink item which needs to be paid, noting that there are no remaining construction funds. Mr. Kane suggested that the BOF make a decision before the fund is over-expended. He pointed out that if the amendments to the fund are not approved the facility will
have to be closed.
Mr. Askham moved to approve the amendments to the Simsbury Farms Special Revenue Fund, as presented. The motion was seconded by Mr. Belfiore and carried unanimously.
5. DISCUSS RESULTS OF REFERENDUM
Possible Action
Chairman Henault noted that the BOE budget passed by a substantial amount, which indicates that the proposed mill rate was acceptable to the voters.
6. MILL RATE CONSIDERATION
Mr. Kane reviewed the projected mill rate with various assumptions for the use of surplus. Chairman Henault stated that the approved budgets equal $60,137,706, there are no changes in the anticipated State revenues. and the collection rate used is 98%.
Ms. Fitzpatrick moved to adopt a mill rate of 36.3 which includes the use of $200,000 of Reserves to offset the tax increase. The motion was seconded by Mr. Belfiore and carried unanimously.
7. ADJOURNMENT
Mr. Wade moved to adjourn the meeting at 8:54 p.m. The motion was seconded by Mr. Belfiore and carried unanimously.
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Paul W. Henault, Chairman Kathryn D. Wilde, Clerk
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