Simsbury, CT - Board of Finance

The Regular Meeting of the Board of Finance was called to order at 6:06 P.M. in the Main Meeting Room of the Simsbury Town Offices. The following members were present: Acting Chairman Peter Askham, Candace Fitzpatrick, Nicholas Mason and Michael Wade. Also present were First Selectman Thomas Vincent, Finance Director Kevin Kane, Superintendent of Schools Joseph Townsley, Board of Education Business Manager David Holden, Board of Education Chairman Mary Margaret Girgenti, Town Engineer Richard Sawitzke and other interested parties.

Mr. Askham noted that the “Due Date” in the “Open Action Items” section for the item “Follow up on pension footnote in Audit Report” should appear as “Next Meeting”.

It was noted that there was not a quorum of members at the current meeting who were present at the February 12, 2002, meeting and that the minutes could not be approved.

Ms. Fitzpatrick moved to table the approval of the February 12, 2002, Regular Meeting Minutes until the next Board of Finance Meeting. The motion was seconded by Mr. Wade and carried unanimously.

Dr. Townsley reviewed the Board of Education Projects as outlined in Mr. Kane’s worksheet “Proposed – Six Year Capital Improvement Plan” (Addendum I) for fiscal year 2002/03.

He noted that the Simsbury High School Addition and Alteration project has been reduced dramatically over the last ten months. Mr. Holden added that the total cost estimate for the project and the Town cost will be presented to the Public Building Committee at 7:00 P.M., Monday, March 4, 2002.

In response to Mr. Mason’s question, Mr. Kane explained that there would have to be at least three bond issues associated with the high school. He further explained the length of the bonding would be determined by the life of the asset, so that the bond issue would include different pieces, each with a separate length.

Mr. Askham suggested setting up a workshop to ask questions and to prepare for the Public Hearing on March 12th. He also recommended having an impact study on any major project, to include the capital impact and the operating impact, to go forward to the public with. For the high school project, building impact and enrollment impact should be available.

Mr. Askham expressed concern about having a 20-year bond verses a shorter term bond. He wondered if we might be burdening a future generation with a problem from the past. Mr. Holden replied that historically, on major building projects there have been 20-year bonds. Mr. Askham noted that those were new buildings, not renovations. He also noted that projections had been done assuming a 20-year bond, but he felt that it would be wise to look at it again closely to be sure that it is indeed a responsible term.

A decision was made to hold a workshop on Monday, March 11, 2002, at 6:00 P.M. Mr. Mason stated that he would not be available on the 11th. Mr. Askham suggested that Mr. Mason give him a list of any questions he may have, and Mr. Askham would present them at the workshop.

Mr. Mason questioned the fact that Computer Technology is a Capital Project rather than in the Operating Budget. Mr. Askham noted that there are written guidelines for set Capital, Capital Non-Recurring and Operating and offered to supply Mr. Mason with a copy.

Mr. Vincent reviewed the “Town Projects” as listed on Mr. Kane’s worksheet “Proposed – Six Year Capital Improvement Plan” (Addendum I). He stated that the Economic Development Fund would allow the Town to be proactive rather than reactive to economic development. Mr. Vincent touched on the Sewer Treatment Plant Renovation & Expansion noting that within a year after completion, the State Loan would start to be paid back from the users’ fees.

Ms. Fitzpatrick questioned the $500,000 coming out of the General Fund for the Economic Development Fund. Discussion continued, and it was decided this would be discussed at the March 11th workshop, along with a more firm plan for the $500,000 and an approval process for spending it.

Mr. Vincent stated that Avon and Granby will officially sign off on a contract for the Sewer Renovation and Expansion project in time for the Public Hearing. Mr. Askham pointed out that, for Economic Development purposes, the Town is at capacity. And if we don’t do the sewer project, we would jeopardize any future development. Mr. Kane concurred.

Mr. Sawitzke distributed his report “Simsbury Waste Water Treatment Plant Expansion and Regulatory Project” (Addendum II) and reviewed it briefly.

Mr. Sawitzke reviewed the three memos requesting a transfer of funds to “fine tune” the library’s HVAC controls (Addendum III). Mr. Askham confirmed that the reimbursement from CL&P on this project will go into surplus.

Mr. Wade moved to transfer $8,050.00 from the Library’s 2001/02 operating budget to Building Improvements to implement the next phase of HVAC controls. The motion was seconded by Ms. Fitzpatrick and carried unanimously.

Ms. Fitzpatrick informed the Board that Mr. Henault had asked if she would be able to go to the State Capital tomorrow to plead to the Education Committee for increased reimbursement money for school building projects. She will be going.