Board of Finance Regular Meeting Minutes-6/16/15

Board of Finance

Regular Meeting

June 16, 2015

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

1. CALL TO ORDER: Chairman Askham called the Regular Meeting of the Board of Finance to order at 5:48 p.m. on Tuesday, June 16, 2015 in the Main Meeting room of the Simsbury Town Offices located at 933 Hopmeadow Street, Simsbury, CT. 

PRESENT: Peter Askham, Nicholas Mason, Barbara Petitjean, Linda Schofield and Jeff Blumenthal

ABSENT: Moira Wertheimer

ALSO PRESENT: First Selectman Lisa Heavner and Joseph Mancini
 

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

1. APPROVAL OF MINUTES
    

March 17, 2015 – MOTION: Mr. Askham moved to approve the Regular Meeting minutes of March 17, 2015 as amended. Ms. Petitjean seconded the motion, which passed unanimously 5-0-0.

Amended Changes: Under Item #8, Other Items – change the last sentence in the first paragraph to read “Mr. Askham noted that they have to start putting money away for revaluation now. Change middle paragraph to read “Mr. Askham stated that they will discuss the non-educational services that Mr. LaClair discussed at their next meeting.”

March 31, 2015 – MOTION: Mr. Askham moved to approve the Regular Meeting minutes of March 31, 2015 as amended. Ms. Petitjean seconded the motion, which passed 4-0-1. Mr. Blumenthal abstained.

Amended Change: Under Item #3, Approval of Minutes for February 24, 2015 – in the second sentence, change “Ms. Petitjean” to “Ms. Schofield.” Under Item #7, Discussion about budget and possible action – change the first motion to read as follows:

“Ms. Petitjean made a motion to move the following budgets as presented to the Board of Finance to the Public Hearing in order to get input on what the public thinks about these proposals, for the Board of Selectmen 2015-2016 Operating Budget, the Simsbury Board of Finance Education Budget, as modified and presented tonight, Capital and Non-Recurring Fund Budget, Water Pollution Control Operating Budget, Residential Rental Properties Operating Budget, Simsbury Farms Special Revenue Fund Operating Budget, Capital Improvement Plan (in accordance with Charter Section 803(b)), Non-Public Schools and Highway-Paving Management for the LOCIP reimbursement grant. Ms. Schofield seconded the motion and it was passed unanimously.”

April 8, 2015 – MOTION: Mr. Blumenthal moved to approve the Budget and Capital Project Hearing minutes of April 8, 2014 as amended. Ms. Petitjean seconded the motion, which passed unanimously 5-0-0.

Amended Change: Under Item #4, Opening Remarks – in the first sentence, change “Superintended” to “Superintendent”. Under Item #5, Public Audience on Operating and Capital Budgets – in the second sentence, change “police” to “policies”.

April 8, 2015 – MOTION: Ms. Petitjean moved to approve the Regular Meeting minutes of April 8, 2015 as amended. Mr. Blumenthal seconded the motion, which passed unanimously 5-0-0.

Amended Change:  Amend the minutes to show the proper number of motions that were vote upon, two rather than twelve. Additionally, amend the minutes to properly detail the reasoning behind the dissenting vote for each motion.  Ms. Petitjean requested that the discussion surrounding the motion, the allocation of funds to a capital rather than operating budget, be explained more thoroughly in the minutes. 

May 5, 2015 – MOTION: Mr. Blumenthal moved to approve the Regular Minutes for May 5, 2015 as amended. Ms. Schofield seconded the motion, which passed unanimously 5-0-0.

Amended Change: Under Item #3, Discuss Results of Referendum – in the second sentence, change “, in which 988 individuals attended the referendum” to “, in which 988 voted in the referendum.”

1. Finance Director Report – Mr. Mancini provided the Board with an update on the bonding process and discussed the ratings call that occurred last week. The town has maintained an AAA rating and final pricing on the bonds will be set on Thursday; averaging around 1.8%. Mr. Mancini provided an update on the financial status of Simsbury Farms, which could end up being flat or negative $70,000 and the subcommittee recommended subsidizing $90,000.Health Insurance is currently $716,783, which is favorable compared to last year and the Tax Collection rate is around 98.3%, with last year’s being 99.4%. The town is trying to recover as much as possible in the Operating Budget for plowing and sand, and Investments are at $11,000 a month versus $2,000 from a year ago. There is $3.5 million in Treasuries and $321,000 extra in the form of ECS payments for FY16.
    
2. Communication from the Tax Collector Regarding Action on Suspense – Mr. Mancini and the Board briefly discussed the Suspense List prior to action. MOTION: Ms. Petitjean moved to approve the Suspense List in the amount of $66,378.79. Mr. Blumenthal seconded the motion, which passed unanimously 5-0-0.
    
3. Communication and action from Director of Public Works on Light Replacement – Mr. Mancini summarized the memo that was provided to the Board at the beginning of the meeting. Overall, by purchasing the light poles and maintaining them in-house, the town will save over $96,000 a year. Once bought, the lights will be replaced with LED bulbs. Ms. Heavner stated that a final evaluation needs to occur and once conducted, the final appropriation amount will be brought before the Board. Mr. Askham noted that the Board is okay with the project and informed Mr. Mancini to move forward with the project.
    
4. Approval of Heart and Hypertension Settlement – Mr. Mancini informed the Board that the $210,000 settlement would be paid over a three-year period from the General Fund, and will be included as part of next year’s budget. MOTION: Mr. Blumenthal moved to approve the settlement with Town of Simsbury Police Office John Mimnaugh in the amount of $210,000, of which $70,000 is to be authorized in the current fiscal year budget. Ms. Schofield seconded the motion, which passed unanimously, 5-0-0.
    
5. Appointment of Auditor – Blum Shapiro – Mr. Mancini informed the Board that the overall cost for the year is $50,000 and the previous year was $49,900. This will be the last year and next year the town will go out to bid. MOTION: Mr. Blumenthal moved to retain Blum Shapiro for auditing services for the Town of Simsbury for the next Fiscal year. Mr. Mason seconded the motion, which passed unanimously 5-0-0.
    
6. Comparative Analysis of Competing Municipalities on Mill Rate/Budget Changes – Mr. Mancini provided a summary of how the town compares to other municipalities in terms of the mil rate. Mr. Askham stated that Mr. Mancini has done a very good job throughout the budget process and this information provides a good base for moving forward. Ms. Heavner stated that Main Street is working on advertising the competitive mil rates with local real estate companies come September.
    
7. Discussion on Availability of Capital – Mr. Mancini informed the Board that debt service is currently $5.5 million and there is $600,000 available in capital. Mr. Askham briefly discussed the need to narrow down which projects should be considered and that the Treasurer and Finance Director have the discretion.
    
8. Other Business – Mr. Askham discussed the Resident Opinion Survey that was provided to Board at the beginning of the meeting. It was suggested that the Board meet with the individuals who did the survey in order to ask some questions; Ms. Heavner stated that she will schedule a meeting. Mr. Askham mentioned that a workshop between the Board of Finance and Board of Education should occur in order to discuss areas of possible savings and prioritization. Everyone was asked to spend time thinking of ideas that they can discuss at the next meeting, and Ms. Schofield noted that a date must be set for the long-rang planning committee.

1. ADJOURN

MOTION: Mr. Blumenthal moved to adjourn the regular meeting of the Board of Finance at 7:22 p.m. Ms. Petitjean seconded the motion, which passed unanimously 5-0-0.

Respectfully submitted,

Renee Narducci, Commission Clerk