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BOARD OF FINANCE
MARCH 18, 2003
REGULAR MEETING
CALL TO ORDER
The Regular Meeting of the Board of Finance was called to order at 6:00 P.M. in the Main Meeting Room at the Simsbury Town Hall. The following members were present: Chairman Paul Henault, Peter Askham, Candace Fitzpatrick, Nicholas Mason and Michael Wade. Board member Kevin North was absent. Also present were Director of Finance Kevin Kane, First Selectman Thomas Vincent and other interested parties.
EXECUTIVE SESSION
Ms. Fitzpatrick moved to amend the agenda to move the approval of the minutes to the end of the meeting and to adjourn into Executive Session at 6:01 P.M. to discuss the following:
Status of Meadowood Litigation
Notice of Intention to Sue filed on behalf of members of the Simsbury Police Department naming various elected and appointed officials of the Town of Simsbury
The motion was seconded by Mr. Mason and carried unanimously.
The members of the Board of Finance, as noted above, were present at the Executive Session. Thomas E. Vincent, First Selectman, was also present.
Ms. Fitzpatrick moved to reconvene at 6:27 P.M. The motion was seconded by Mr. Mason and carried unanimously.
Ms. Fitzpatrick moved to amend the agenda to address Item #4 next followed by Item #5. The motion was seconded by Mr. Askham and carried unanimously.
BOARD OF SELECTMEN 2003/04 BUDGET PRESENTATION (PURSUANT TO SECTION 906 OF THE TOWN CHARTER)
Mr. Henault turned the meeting over to Mr. Vincent, and, after thanking the members of the BOS for their hard work during the budget process, the First Selectman presented his "Fiscal Year 2003-2004 Budget Message" (Addendum I). He concluded by stating that the FY 03-04 operating budget reflects a total spending plan in the amount of $14,302,408, or 3.99% over the FY 02-03 operating budget. The proposed operating budget is approximately .26% below the cap established by the BOF.
A question and answer session followed with the Board members directing their questions to Mr. Kane.
Mr. Askham asked if there were going to be a subsidy for the recreation fund. Mr. Kane said that there would not be.
In response to Mr. Askham's query, Mr. Kane stated that if they do the $30,000,000 bond issue for the high school project, that could conservatively generate $200,000 in investment income. Mr. Kane handed out his Cash Flow Projection for the Board members to follow.
Mr. Henault asked if the BOE and the Public Building Committee are confident that they'll be putting the high school project out to bid roughly on schedule. Mr. Kane stated that PFM and Ted See from Day, Berry & Howard requested a timeline along with a cash flow. Mr. Kane thought the timeline had a bid date of April 1st and an award of contract date of May 19th. He offered to get a copy of the timeline for Mr. Henault.
Mr. Mason revisited an issue he has brought up to the BOF before. He stated that he has a problem with budgeting next year's budget based on last year's budget rather than basing it on what you actually ended up with.
Mr. Mason questioned the increase in overtime. Mr. Kane explained that snow storms created a lot of overtime and that some hasn't even hit the books yet.
Ms. Fitzpatrick stated that she appreciated that the BOS budget came in at 3.99%.
Mr. Wade asked about the street sign program. Mr. Vincent stated that the signs will be wider and bigger and therefore easier to read.
Mr. Mason asked about the consulting budget. Mr. Kane explained that it is there to be used if needed, but nothing specific is scheduled.
Mr. Mason questioned the Public Agency Support budget amount of $78,399. Mr. Kane gave a breakdown: $13,671 - CCM, $1,627 - Greater Hartford Transit, $13,474 - CROG, $1,627 - NCRMHBI, $5,000 - SCTV, $8,000 - Farmington Valley Teen Center, $10,000 - Simsbury Volunteer Ambulance, $25,000 - special initiative to give to Simsbury organizations (a matching type of grant situation).
Mr. Henault stressed, as he had in the previous meeting, that just because a project appears on the Six-Year Capital Plan, it does not imply pre-approval by the BOF.
Mr. Askham moved to accept the Board of Selectmen's Operating Budget for 2003-04 and move it on to the April 1, 2003, Public Hearing. The motion was seconded by Ms. Fitzpatrick and carried unanimously.
ACTION ON CAPITAL PROJECTS
Mr. Henault stated that the only capital project before the Board was for the Improvements to Police Headquarters and Town Offices for $2.3 million.
Ms. Fitzpatrick asked about the impact the project would have on capital. Mr. Kane handed out his worksheet, "Projected Debt Service on Six Year CIP". He stated that there would not be a problem keeping non high school projects at a level lower than 5%. Ms. Fitzpatrick gave several reasons for her supporting the project and sending it to a Special Town Meeting and then on to referendum.
Mr. Askham stated that the $2.3 million should not be spent on anything outside of the original plan. Mr. Mason reminded the Board of Mr. North's suggestion that the project should go to the Public Building Committee. Mr. Askham agreed that it would be good to have the PBC involved. Mr. Henault expressed his agreement and introduced his addition to the legal language prepared by bond counsel concerning this issue.
Mr. Henault stated that it is up to the BOF to look at the project and determine whether the need actually exists. He then gave several reasons for his support of the project. Mr. Mason concurred.
Mr. Wade moved to adopt the legal language as set forth by bond counsel and as amended by Mr. Henault's addition for the improvements to the Police Department and Town Offices. The motion was seconded by Ms. Fitzpatrick and carried unanimously.
Ms. Fitzpatrick moved to waive the reading of the legal language into the record and to allow the clerk to transcribe it. The motion was seconded by Mr. Askham and carried unanimously.
Item 1:
Mr. Wade introduced the following resolution, which was seconded by Ms. Fitzpatrick:
RESOLVED, that the Board of Finance recommends that the Town of Simsbury appropriate $2,300,000 for design and construction of renovations to the Simsbury Police Department facilities located on the first level of the Town Hall on Hopmeadow Street. The project will be constructed in accordance with the Construction Outline and preliminary plan prepared by Jacunski Humes Architects, LLC with such changes and modifications as shall be determined by the Board of Selectmen; that the Town issue bonds or notes and temporary notes in an amount not to exceed $2,300,000 to finance the appropriation; and that the term of the bonds or notes not exceed ten years.
RESOLVED, that the proposed plans and construction contracts for the project be referred to the Public Building Committee for its recommendations before the Board of Selectmen acts to approve any such plans or contracts. Be it further resolved that upon the approval of the proposed plans and contracts by the Board of Selectmen, the Public Building Committee, by resolution of the Board of Selectmen, shall administer the project in a manner consistent with Section 713 of the Town Charter and applicable Connecticut General Statutes.
The resolution was approved by five (5) votes in favor and no (0) votes opposed.
Mr. Kane reviewed his March 13, 2003 memo, "Reauthorization of the Drake Hill / RTE 10 Capital Project" (Addendum II) in which he states, "Pursuant to the Town Charter this appropriation will lapse by the end of this fiscal year."
Ms. Fitzpatrick moved to reauthorize the Drake Hill / Route 10 project in the amount of $463,400. The motion was seconded by Mr. Mason.
Mr. Henault asked Mr. Kane how long this reauthorization would be good for. He answered that it would be good for three years.
A vote was taken, and the motion passed unanimously.
Item 2:
Ms. Fitzpatrick introduced the following resolution, which was seconded by Mr. Mason:
WHEREAS, the $463,400 appropriation and borrowing authorization for road improvements at the intersections of Routes 10 and 167 and Drake Hill Road, which was approved at Simsbury Town Meeting on May 2, 2000, may lapse at the end of this fiscal year, and there is still the need to undertake the project.
RESOLVED, that the Board of Finance recommends that the Town of Simsbury reaffirm the appropriation of $463,400 for the Town's share of costs for the implementation of design improvements for traffic flow and safety at the intersection of Routes 10 and 167 and Drake Hill Road as approved under the Federal Surface Transportation Program or other programs for highway improvements; that the Town issue bonds or notes and temporary notes in an amount not to exceed $463,400 to finance the appropriation; and that the term of the bonds or notes not exceed ten years.
The resolution was approved by five (5) votes in favor and no (0) votes opposed.
MONTHLY FINANCIAL REPORTS
Mr. Henault asked Mr. Kane if the Town is still intending to do the brush pick-up. Mr. Kane answered that he understands some has been done but added that he could not speak in Mr. Vincent's behalf on this matter.
Mr. Wade questioned whether Simsbury Farms is doing better since they're ahead of where they were last year. Mr. Kane stated that one of the reasons they are ahead of last year is that there is no debt service associated with them. Another reason is that they have implemented changes in fees. Mr. Kane noted that there is a timing difference, though, and that it would be better to wait for the month of March.
APPROVE MINUTES
February 26, 2003 Regular Meeting
Ms. Fitzpatrick moved to approve the minutes of the February 26, 2003 Regular Meeting as amended. The motion was seconded by Mr. Askham and carried unanimously.
March 11, 2003 Regular Meeting
Mr. Wade moved to approve the minutes of the March 11, 2003 Regular Meeting. The motion was seconded by Ms. Fitzpatrick and carried unanimously.
March 11, 2003 Public Hearing
Ms. Fitzpatrick moved to approve the minutes of the March 11, 2003 Public Hearing. The motion was seconded by Mr. Askham and carried unanimously.
OTHER BUSINESS
The Board members had no Other Business to discuss.
ADJOURNMENT
Mr. Mason moved to adjourn the meeting at 8:13 P.M. The motion was seconded by Mr. Wade and carried unanimously.
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Paul W. Henault, Chairman Roxanne Farrell, Clerk
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