Board of Finance Special Meeting Minutes-5/6/14
BOARD OF FINANCE
SPECIAL MEETING - 8:30 PM
MINUTES
MAY 6, 2014
CALL TO ORDER
Mr. Askham, Chairman, called the Special Meeting of the Board of Finance to order at 8:30 P.M. on Tuesday, May 6, 2014 in the Henry James Junior High School cafeteria, located at 155 Firetown Road, Simsbury, CT. The following members were also present: Nicholas Mason, Barbara Petitjean, Jeff Blumenthal, Linda Schofield and Moira Wertheimer. Also present were Mary Glassman, First Selectman, Joseph Mancini, Director of Finance/Treasurer, Burke LeClair, Board of Education Business Manager, Lydia Tedone, Board of Education Chairman, Colleen O’Connor, Tax Collector, Lisa Heavner, Board of Selectmen Liaison, Leslie Brigham, Commissions Clerk and other interested parties.
Pledge of Allegiance
Approve Minutes
April 10, 2014 – Public Hearing
Ms. Petitjean made a motion to approve the minutes as amended from the April 10, 2014 Public Hearing. The motion was seconded by Mr. Blumenthal and was passed unanimously.
April 10, 2014 – Special Meeting
Mr. Mason made a motion to approve the minutes as amended from the April 10, 2014 Board of Finance Special Meeting. The motion was seconded by Ms. Petitjean and was passed unanimously.
April 15, 2014 – Special Meeting
Mr. Blumenthal made a motion to approve the minutes from the April 15, 2014 Board of Finance Special Meeting. The motion was seconded by Ms. Wertheimer and was passed 5-0. Ms. Petitjean abstained.
Finance Director’s Report
Mr. Mancini provided a handout and discussed the Finance Director’s Report with Board members. Topics discussed were: Update on Tax Collections and Grand List, Investment Policy for the OPEB Trust, Simsbury Farms Subcommittee, Auditor Update, Estimated Reserves, Pressure on Expenses, Capital Projects, Reserve Policy and Anticipated Tax Rates. Mr. Mancini noted that the tax collection percentage is currently around 99.3% and expects it to be at 99.5% with an additional $220,000 to be collected.
Discuss Results of Referendum
Possible Action
Question #1 Board of Selectmen Budget: 971/Yes; 218/No
Question #2 Board of Education Budget: 903/Yes; 291/No
Question #3 All other Budgets– Miscellaneous: 972/Yes; 212/No
Question #4 Ethel Walker Land: 842/Yes; 351/No
Question #5 Highway: 1,056/Yes; 137/No
Question #6 Squadron Line School Renovation: 772/Yes; 413/No
Mr. Askham noted that all questions passed.
Mill Rate Consideration
Mr. Mancini reviewed some changes to the budget, which included additional revenue from the State of Connecticut. He noted that the Mill Rate for the Town of Simsbury will be 37.14 compared to the prior year at 37.29 with a collection rate of 98.5%.
Mr. Blumenthal made a motion to set the Mill Rate for the 2015 Fiscal Year of 37.14 mills. The motion was seconded by Ms. Petitjean and it was unanimously approved.
The action above was taken with the expectation that the Fire District rate will probably be reduced from 1.22 down to 1.19. The total mill rate will then be set at 38.33. This will be at a reduction of 0.47%.
It was noted that the records, going back to 1973, do not show the mill rate has ever decreased for the Town of Simsbury except for revaluation.
Henry James Renovation
Mr. LeClair noted that the Board of Education and Superintendent are engaged with Henry James Junior High School’s Principal and students regarding the renovation of the lockers in the school. The Principal will be reporting to the Superintendent of Schools and the Board of Education at the meeting on May 27, 2014. The Board of Education will bring the results of this meeting to the Board of Finance meeting in June.
Rules for the Board – Committee
Mr. Askham noted that the Board of Finance does not have a set of rules. He requested two members volunteer to set up a group of rules for the Board to review. Mr. Blumenthal and Ms. Wertheimer volunteered to work together on this for the next meeting.
Discuss the next meeting agenda
Mr. Askham discussed items for the next meeting. Some of the topics discussed for the next meeting include:
long range planning
comparison metrics
reserve policies
Simsbury Farms update
Self-insurance fund update
Adjournment
Mr. Askham adjourned the Board of Finance Special Meeting at 9:22p.m.
Respectfully submitted,
___________________ _________________
Peter Askham, Chairman Leslie Brigham,
Commissions Clerk