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Board of Finance Regular Meeting Minutes-3/11/15

Meeting date: 
Wednesday, March 11, 2015

 

1.  Call to Order

Mr. Askham, Chairman, called the Regular Meeting of the Board of Finance to order at 6:02 P.M. on Wednesday, March 11, 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 and Linda Schofield.  Also present were Joseph Mancini, Director of Finance/Treasurer, Matthew Curtis, Superintendent, Burke LaClair, Board of Education Business Manager and Michael Goman, Secretary, Board of Education and other interested parties.

2.  Pledge of Allegiance

Everyone stood for the Pledge of Allegiance

3.  Board of Education 2015/2016 Budget Presentation (pursuant to Section 806 of the Town
     Charter)

  • Discussion and possible action
    Mr. Curtis discussed the framework for the Board of Education budget:
    • $67,221,317
    • Increase of $1,618,500
    • 2.47% increase

Mr. Curtis noted that the Board of Education is currently 43 out of 55 districts for approved budget increases in Connecticut.  Mr. Curtis and Mr. LaClair discussed the following slides with the Board of Finance:

  • Approved Budget Increase
  • Budget Context
  • BOE Budget Development and Review Process
  • Downward/Upward Pressures
  • Compare Enrollment to Budget Increase – 1983-1984 to 2015-2016 (proposed)
  • Student Enrollment and staff FTE Comparison
  • Enrollment Information
  • Historical Special Education Population compared to Overall Enrollment
  • Program Improvement Cost Drivers
  • Staffing Proposal
  • Financial Knowns
  • New Financial Information/Considerations
    • Potential Impact on Operating Increase
      • Final OPEB Actuarial obligation:- 0.16%
      • Proposed energy efficiency agreements:-0.12%
      • Anticipated use of proposed non-lapsing account (unexpended education funds):- 0.38%

Board of Finance and Board of Education members discussed the FY 2015/2016 Board of Education budget.  Some items included:

  • Decrease in fuel costs for transportation and buildings
  • Special Education Transportation costs
  • Last Transportation RFP
  • Comparison of expenditures to similar Towns
  • Proposed non-lapsing account
  • Any additional changes in the Health Insurance cost
  • True up budget numbers
  • Athletic fees for students
  • Open Choice Students added to per pupil cost
  • Sustaining per pupil cost vs increasing every year
  • Closing down a school

 

Mr. LaClair noted the handout on the Capital Non-recurring which included the following:

  • Ceiling and Flooring
  • Plumbing/Electrical Improvements
  • Interior Improvements
  • Exterior improvements
  • Equipment

Mr. Askham noted items that the Board of Finance need to discuss at their next meeting:

  • Authorization of a 7.5% investment policy for OPEB and need to ratify
  • Excess money in the Self Insurance Fund.
  • Debt Service

Ms. Schofield asked Mr. LaClair to discuss some of items the Board of Education is looking at for savings going forward.

Mr. LaClair noted the following items in response to Ms. Schofield’s question:

  • Energy management data and phone audit
  • Affordable Care Act and Wellness with Cigna
  • IT infrastructure

Mr. Blumenthal and Mr. Mason questioned some of the numbers in the Board of Education 2015/2016 budget that do not have a clear explanation.

Mr. Askham noted three factors:    

  • Energy
  • OPEB
  • Use of money out of reserves

4.      FY14-15 Budget Update

Nothing discussed at this meeting.

5.      Other Items

Mr. Mancini and Board members discussed the handout on the Non-Lapsing account for the BOE pursuant to Connecticut General Statutes 10-248A.  Mr. Askham asked Board members to get their ideas to Mr. Mancini before the next meeting so they can sign off on it.

The CNR savings were discussed by Board members and Mr. Mancini and how to fund it.  They also discussed the excess reserves on the Self Insurance Fund.

Mr. Mason would like to have a conversation with WPCF and take a look at this fund after the referendum in May. 

ADJOURN

Ms. Petitjean made a motion to adjourn the meeting.  Mr. Blumenthal seconded the motion and the motion passed.  The meeting was adjourned at 8:45p.m.

Respectfully submitted,

 

Leslie Brigham