Board of Finance Regular Meeting Minutes-11/18/14

Meeting date: 
Tuesday, November 18, 2014

BOARD OF FINANCE

REGULAR MEETING – 6:00 PM

MINUTES

NOVEMBER 18, 2014

(to be approved at December 16, 2014 Regular Meeting)

 

 

CALL TO ORDER

 

Mr. Askham, Chairman, called the Regular Meeting of the Board of Finance to order at 6:05 P.M. on Tuesday, November 18, 2014 in the Main Meeting Room of the Simsbury Town Offices located at 933 Hopmeadow Street, Simsbury, CT.  The following members were also present:  Barbara Petitjean, Jeff Blumenthal, Nicholas Mason and Linda Schofield.  Also present were Joseph Mancini, Director of Finance/Treasurer, Burke LaClair, Board of Education Business Manager and other interested parties.

 

 

Pledge of Allegiance

 

Everyone stood for the Pledge of Allegiance

 

 

Public Audience

 

Ms. Joan Coe, 26 Whitcomb Drive announced that she is considering running for First Selectman in 2015 on a platform of Town Manager.  Ms. Coe listed several items that she believes the town of Simsbury should do for the future.

 

Ms. Coe asked what will the Board of Finance recommend for budget increases or decreases for fiscal year 2015.   Ms. Coe asked what the plan is for the reduction of schools, since there are fewer students enrolled. 

 

Ms. Coe noted that, from 2011 to November 13, 2014, there are 198 foreclosure actions registered in Town and asked if there is a policy for distribution of food and services for the needy.  Ms. Coe asked if there was a comprehensive plan for protected Town revenues and expenditures in future years and what is the Board of Education’s plan if revenue is reduced from the State.

 

Mr. Robert Kalechman, 971 Hopmeadow Street voiced his displeasure on the recent State elections.  Mr. Kalechman stated that the administration indicated that the State was financially sound, however, after the election they showed an $87 million deficit.

 

Mr. Kalechman noted his displeasure that, after the Board of Finance put together the 2014 budget, they are now going into reserves to pay off various projects.  Mr. Kalechman stated that if the Town has

money to put into a Reserve Fund, then the residents are being overtaxed.  Mr. Kalechman discussed other money spent in Town at the expense of taxpayers. 

 

 

Approve Minutes

 

         October 21, 2014 - Regular Meeting

 

Ms. Petitjean made a motion to approve the minutes as amended from the October 21, 2014 Regular Meeting.  The motion was seconded by Mr. Mason and it was passed unanimously.

 

Amended changes are:

 

Pledge of Allegiance:  Remove the motion “Ms. Petitjean made a motion to move the approval of the September 16, 2014 minutes after the Presentation from Health Care Representative.  The motion was seconded by Mr. Mason and was passed unanimously”

 

Presentation from Health Care Representative:   #5 Discussion/Questions move “Mr. Mason recused himself from this discussion as a Director at Simsbury Bank” and place under #4 Presentation from Simsbury Bank.

 

# 7 Appropriation for Land Purchase sentence should read:  Board members voiced their concerns on this project and would like to get more information before any decisions are made.

 

Motion under # 7 should read:  Mr. Mason made a motion to table the Appropriation for Land Purchase.  Ms. Petitjean seconded the motion.  It was passed unanimously.

 

Motion under # 8 should read:  Mr. Mason made a motion to approve the Waste Water Treatment Budget Cleanup.  Ms. Petitjean seconded the motion.  It was passed unanimously.

 

Motion under #10 should read: Ms. Petitjean made a motion to approve the Investment Policy and the Reserve Policy as amended.  Mr. Blumenthal seconded the motion.  It was passed unanimously.

 

 

         November 5, 2014 - Special Meeting

 

Ms. Petitjean made a motion to approve the minutes as amended from the November 5, 2014 Special Meeting.  Motion has been tabled to the next meeting.

 

         Amended changes (not yet approved) are:

 

Public Audience

For Ms. Joan Coe, the second paragraph, second sentence should read:  An example of managers that have failed to provide responsible budgeting is the Simsbury Special Revenue Fund with promises that they would close the shortfall.

 

 

Ms. Barbara O’Connor’s first paragraph should read:  is representing the Simsbury Tourism Committee and stated that she would like to present the following resolution approved by them on September 15, 2014: 

The Tourism committee supports the town of Simsbury determining a way to acquire the Betty Hudson property at 1 Old Bridge Road for the purpose of creating a serene and natural park next to the river as a compliment to the Flower Bridge and attracting visitors to enjoy the river views.

 

Correct the spelling of Ms. Deege Macade to Ms. Deeg Mackay.

 

Ms. Deeg Mackay’s first paragraph should read:  who is co-chair of the Drake Hill Flower Bridge, noted that they fully support the acquisition of Betty Hudson’s home.  She believes that it also goes along with the 2007 plan for conservation and development, which is to purchase property along the Farmington River for active and passive recreation.  She noted several groups who make a daily use of the Flower Bridge and the surrounding area.

 

#3 Purchase of Property at 1 Old Bridge Road second paragraph should read:  Mr. Cooke stated that the Town has looked at the house and plans to secure it safely if and when the town purchases it.  He noted that this will allow the Town to review the options available for use of the property.

 

         Long Term Plan fourth bullet:  Remove “Obtain bid for”

 

Add the sentence under Long Term Plan:  Ms. Schofield also noted that the Town improvements must be capped at $75,000 or 50% of the value of the property. 

 

Paragraph starting with Ms. Petitjean:   Add to the end of the paragraph – A recommendation will be forthcoming within a year.

 

 

Finance Director’s Report

 

Mr. Mancini reviewed his report with Board members which included the following:

 

Fiscal Year 2014

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Operations Summary

 

Projects Approved during the budgeting process

Projects Approved After the budgeting process

 

Fiscal Year 2015

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State Aid

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Investment Policy

Plans for the year

 

Mr. Mancini noted that all three transfers were passed by the Board of Selectmen.   He stated that they are broken up into three separate transfers and discussed the memo of November 12, 2014 from Thomas Cooke, Director of Administrative Services with Board members:

 

         Year-end closing entries 6/30/2014

 

Ms. Schofield made a motion to approve the Capital Non-Recurring Budget Transfers and the General Fund Account Transfers.  Mr. Mason seconded the motion.  It was passed unanimously.

        

         Simsbury Farms 6/30/2014

 

Mr. Blumenthal made a motion to approve the Simsbury Farms FY14 Deficit Transfer.  Ms. Petitjean seconded the motion.  It was passed unanimously.

 

 

 

Mr. Askham noted that the exact rules have not yet been set up for this and will be discussed at the next meeting.

 

 

Mr. Askham discussed the letter announcing the meetings for 2015 and noted that the meetings will start at 5:30 p.m.   Board members discussed the start time as well as the dates of the meetings. 

Mr. Askham noted that there will be a public hearing on April 9, 2014 as well as one at the Regular Meeting on April 16, 2014.   He stated that if something controversial comes up, they can add another public hearing meeting. 

 

Mr. Askham discussed with Board members their opinions on adding more public audience meetings. 

 

 

Mr. Mancini discussed the presentation on the 2015 – 2016 Budget with Board members. 

 

Items discussed were:

 

Mr. Askham noted that they are planning on a three Board meeting with the Board of Selectmen and Board of Education within the first two weeks of December and asked members to provide dates they are available.

 

 

To be discussed at the next meeting.

 

 

Nothing discussed at this meeting.

 

Adjournment

 

Ms. Petitjean made a motion to adjourn the meeting at 7:35 p.m.  The motion was seconded by Mr. Blumenthal.  It was unanimously approved.

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Approval of Transfers

Establish the Capital and Non-Recurring Budge Savings Fund

2015 Calendar ofMeeting Dates

2015 – 2016 Budget Planning - Presentation

Budget goals

Financial indicators

What impacts the budget

Collection rate assumptions

Debt service levels and rates

Pension and OPEB rate of returns

Overhead allocations

Use of internal service funds favorability

How does Simsbury compare with other towns

Mill rate work sheet

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Capital Non-Recurring

Simsbury Farms Special Fund

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Budget items to consider

Board of Finance Rules discussed and approved

Other Business

Nothing discussed at this meeting.

 

Adjournment

 

Ms. Petitjean made a motion to adjourn the meeting at 7:35 p.m.  The motion was seconded by Mr. Blumenthal.  It was unanimously approved.