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Board of Finance Regular Meeting Minutes - 5/5/15

Meeting date: 
Wednesday, May 6, 2015

 

 

Board of Finance

Regular Meeting

May 5, 2015

 

---------- SUBJECT TO APPROVAL ----------

 

  1. CALL TO ORDER: Chairman Askham called the Regular Meeting of the Board of Finance to order at 8:30 p.m. on Tuesday, May 5, 2015 in the Henry James Junior High School cafeteria, 155 Firetown Road, Simsbury, Connecticut. 
     

PRESENT: Peter Askham, Nicholas Mason, Barbara Petitjean, Linda Schofield and Jeff Blumenthal
ALSO PRESENT: First Selectman Lisa Heavner, Michael Paine, Joseph Mancini and Burke LaClair

2.    PLEDGE OF ALLEGIANCE: The Pledge of Allegiance was recited.

3.    DISCUSS RESULTS OF REFERENDUM

Possible Action

Question #1 Board of Selectmen Budget:  82%-808/Yes; 18%-176/No

Question #2 Board of Education Budget:  79%-775/Yes; 21%-211/No

Question #3 All Other Budgets – Miscellaneous:  81%-794/Yes; 19%-187/No

Question #4 Simsbury Farms:  74%-728/Yes; 26%-256/No

Question #5 BOE Climate Control:  75%-742/Yes; 25%-242/No

Mr. Askham reviewed the results of the referendum with the board, which were provided by Mr. Mancini at the start of the meeting. Voter turnout was determined to be around 6.26%, in which 988 individuals attended the referendum. Mr. Askham thanked everyone for their efforts and hard work during the budget process. Mr. Mancini stated that the mil rate worksheet had not been updated to reflect any changes going on with the state; however, he is confident in the numbers and feels there is nothing that would cause a significant change. It was noted that roughly eight million dollars was layered into three-, four- and five-year CDs, earning an averaging 1.4%, in which $150,000 was budgeted in interest. Mr. Askham thanked Joe for his hard work and stated that he is happy with the budget. In terms of the Self Insurance Fund, everything is on track and the numbers received from the Actuaries are correct.

4.       MILL RATE CONSIDERATION

MOTION: Jeff Blumenthal made a motion to set the Mill Rate for the 2016 Fiscal Year of 37.12 mills. Barbara Pettijean seconded the motion, which passed unanimously 5-0-0.

The action above was taken with the expectation that the Fire District rate will probably be 1.19. The total mill rate will then be set at 38.31. There was a general discussion regarding how the town compares with neighboring municipalities and Joe will research other towns in the area in order to show benchmarking data. Ms. Schofield reflected on how important it was that newspapers have reported a zero tax increase for the past two years in town.

5.       ADJOURN

MOTION: Barbara Petitjean moved to adjourn the regular meeting of the Board of Finance at 8:40 p.m. Nicholas Mason seconded the motion, which passed unanimously 5-0-0.

Respectfully submitted,

 

Renee Narducci, Commission Clerk