Board of Finance Meeting Minutes-9/17/13

BOARD OF FINANCE
REGULAR MEETING - 6:00 PM
SEPTEMBER 17, 2013

CALL TO ORDER

Mr. Henault called the Regular Meeting of the Board of Finance to order at 6:02 P.M. on Tuesday, September 17, 2013 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, Peter Askham, and Nicholas Mason.  Also present were Mary Glassman, First Selectman; Mary Ann Harris, Finance Director; Burke LaClair, Board of Education Business Manager; and other interested parties.
 

1. Approve Minutes – August 20, 2013

Ms. Petitjean requested that the following statement is added to the minutes from August 20, 2013 in paragraph four of the Public Works statement:   “Mr. Roy stated that the annual cost to maintain the roads on an ongoing basis is $1.2 million per year.”

Mr. Mason made a motion to approve the minutes from August 20, 2013 with the additional statement.  The motion was seconded by Ms. Petitjean and was unanimously approved.

2. Proposed Additional Services – Town Auditor

The Board requested input from Board of Selectmen and Board of Education regarding a letter from Blum Shapiro dated July 15, 2013 titled Agreed Upon Services.  The contents of the letter describe the scope of services and authorize funds required for Blum Shapiro to review cash receipts for Student Activities, Simsbury Farms, the Performing Arts Center and disbursement processes for Building Permits. The cost of the additional work is $14,900 for one year.  The Board of Selectmen and the Board of Education support this contract.

Mr. Askham made a motion to approve the agreed upon services from Blum Shapiro as stated in a letter dated July 15, 2013 including all attachments. The cost of the additional work is $14,900 for one year, which will be funded from the General Reserve Fund. The motion was seconded by Ms. Petitjean and unanimously approved.

3. Request to Establish a Special Revenue Fund – Receipt of Funds from The Hartford Charrette

Mr. Henault referred to a memorandum dated September 11, 2013 from Tom Cook, Director of Administrative Services, regarding the approval by the Board of Selectman for the creation of a Special Revenue Fund for the sole purpose of receiving funds in the amount of $145,000 from The Hartford to fund a land use study with respect to their property at 200 Hopmeadow Street.   The funds will be used to pay Gateway Planning, the contractor selected for the study.  Any excess funds will be returned to The Hartford.  Fees charged by Gateway Planning will not exceed a total of $175,000.

Mr. Mason made a motion to approve the creation of a Special Revenue Fund for $175,000 which includes $145,000 from The Hartford and $30,000 from the town. Mr. Askham seconded the motion and it was approved 3-0.   (Ms. Petitjean recused herself.)

4. Update on School Safety Measures

Mr. LaClair stated that he plans to discuss the status and recommendations list during the next Board of Education meeting.  The purpose is to review the to-be-determined capital funding in order to complete the recommended items. The school office locations and security for Henry James and Squadron Line have been in their capital plan. Mr. LaClair intends to have a conversation with Security to include the larger items on the list. 
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Mr. Askham asked if the town will receive any reimbursement from the State.   Mr. LaClair hopes to have an answer in the next couple of weeks. The town would be eligible for 45% reimbursement of the “lock project”.

5. Correspondence

Ms. Harris commented on GASB Statement 67 and 68. There is no implementation guide at this point for Statement 68.  She discussed the changes associated with Statement 67, which are effective for fiscal years beginning after June 15, 2013. 

Ms. Harris also discussed changes associated with Statement 68, which will be effective for fiscal years beginning after June 15, 2014.  She indicated that towns will need to review current funding policies in order to be compliant with the new statements issues.

Ms.  Petitjean made a motion to adjourn the meeting at 6:27 PM.  The motion was seconded by Mr.  Mason and was unanimously approved. 

Respectfully submitted,

____________________________________  ______________________________

Paul Henault, Chairman                                    Irene Muench, Commissions Clerk