Board of Finance Regular Meeting Minutes-3/17/15

1.     Call to Order

Mr. Askham, Chairman, called the Regular Meeting of the Board of Finance to order at 5:47 P.M. on Tuesday, March 17, 2015 in the Main Meeting Room of the Simsbury Town Offices located at 933 Hopmeadow Street, Simsbury, CT.  The following members were also present:   Jeff Blumenthal, Nicholas Mason, Barbara Petitjean Linda Schofield and Moira Wertheimer.  Also present were Lisa Heavner, First Selectmen, Joseph Mancini, Director of Finance/Treasurer, Matthew Curtis, Superintendent, Burke LaClair, Board of Education Business Manager.

2.      Pledge of Allegiance

Everyone stood for the Pledge of Allegiance

3.     Approval of Non-Lapsing Account for the BOE

Board members and Mr. Mancini discussed the Non-Lapsing Account for the Board of Education pursuant to Connecticut General Statutes 10-248A handout. 

Mr. Mason made a motion to approve the Non-Lapsing account for the BOE pursuant to Connecticut General Statutes 10-248A.  Ms. Wertheimer seconded the motion.

Mr. Mason made a motion to amend his motion to approve the Non-Lapsing account for the BOE pursuant to Connecticut General Statutes 10-248A as amended.    Ms. Petitjean seconded the motion and it was passed unanimously.

Amended change to the Statutes 10-248A:  Remove the words “to the next year” from the last sentence that reads “Any amount deposited into such account must be expended within 1 year of deposit or else be returned to the Town’s general fund, unless a carryover “to the next year” is approved by the Board of Finance.

4.      Approval of General Fund appropriation from the FY15 Budget for Energy Savings

Mr. LaClair discussed the General Fund appropriation from the FY15 Budget for Energy Savings with Board members and Mr. Mancini.  He reviewed some additional changes, since his last discussion with the Board of Finance, which could give the Board of Education additional budget savings.

Ms. Schofield noted that prior language approval from Board members stated that “both the Board of Finance and Board of Education have to approve expenditures”  and this would constitute the Board of Finance approval for this General Fund appropriation.  All members were in agreement.

5.     Approve sending funds from the Internal Service Fund to the OPEB trust / use for 15-16
        Budget

Ms. Petitjean made a motion to approve sending funds from the Internal Service Fund to the OPEB trust / use for 15-16 Budget.  Mr. Blumenthal seconded the motion.

Mr. Askham explained what the Board of Finance is trying to do with this Fund using three different scenarios, which were illustrated on a handout to Board members. 

Mr. Mancini discussed what adequate reserves are for this Fund with Board members.    He also worked with the appropriations worksheet using different scenarios to show budget relief.

Board members voiced their opinions on amounts they felt comfortable transferring from the Internal Service Fund into the OPEB trust.

Ms. Petitjean withdrew her motion to approve sending funds from the Internal Service Fund to the OPEB trust / use for 15-16 Budget.  Mr. Blumenthal withdrew his seconded on the motion.

Mr. Blumenthal made a motion to transfer $3,000,000 from the Internal Service Fund to the OPEB trust / use for 15-16 Budget.  Ms. Schofield seconded the motion and it passed 5 to 1.

6.     Discuss/Approve general fund appropriation from the FY15 to the pension trusts, subject
        to  BOS approval.

Mr. Askham explained that the money will be taken out of the 14/15 budget for the pension and is recommending $400,000 to get immediate budget relief.

Mr. Blumenthal made a motion to transfer $400,000 from the general fund appropriation for the 2015 Fiscal Year budget to the pension trusts, subject to Board of Selectmen approval.  Mr. Mason seconded the motion and it was passed unanimously.

7.      Finance Director’s Report

Nothing additional was discussed at this meeting.

8.     Other Items

Ms. Heavner noted that they are currently in a $400,000 deficit on overtime for storms.  Mr. Askham noted that they have $800,000 to work with and have used $400,000 to date.   He noted that they have to rethink re-evaluation.

Mr. Askham stated that they will discuss the non-educational services the Mr. LaClair discussed at their next meeting.

Ms. Petitjean stated that she would like to see what the changes are for the Board of Selectmen budget in advance of the Board of Finance meeting.  Mr. Mancini noted that the Board of Finance members will have this information in a booklet on Monday.

Mr. Askham asked to show how the Capital fits in with their policy and would like to see a worksheet.

ADJOURN

Mr. Mason made a motion to adjourn the meeting.  Ms. Schofield seconded the motion and the motion passed.  The meeting was adjourned at 7:35p.m.

Respectfully submitted,

Leslie Brigham