BOARD OF FINANCE MINUTES
FEBRUARY 23, 2004
The meeting was called to order by Chairman Joseph Mooney at 7:30 p.m.
Also present were Lorraine Young, Charles Shelton Jr., Victor Cassella and Jeffrey Vailette. Not present was Kenneth Kaminsky.
Also present were Selectmen Opie, Myjak and Kinney, Finance Director Jim Finch, Assistant Finance Director, Kathryn LaBanca, Human Resources Director Bob Moore and Town Engineer Steve Dudley.
1. Mr Shelton made the motion, seconded by Mr. Vailette to approve the minutes of the January 26, 2004 Board of Finance meeting. The vote was unanimous.
2. Gerry Paradise of Scully & Wolf LLP presented the auditor’s report for fiscal year 2002-2003. Discussion followed. Chairman Mooney thanked Mr. Paradise for his presentation and also thanked the Finance Department and the Board of Education for their help. Chairman Mooney informed the Board that the town has hired Branford’s first Information Technology Director.
Chairman Mooney made a request to add an item from the Selectman’s Office, to the agenda.
Ms. Young made the motion, seconded by Mr. Cassella to add an item to the agenda. The vote was unanimous.
3. The Board considered the Registrar of Voters request for the following transfers which
were presented by Marion Burkard and Marianne Kelly, Registrars.
From: 4904-494.59-13 Contingency ($13,881)
To: 4112-412.11-01 Primary & Special Elections 7,350
4112-412.11-02 Election Workers 1,424
4112-412.33-24 Moving & Storage 3,250
4112-412.41-03 Repair & Maintenance 7
4112-412.61-01 Operating Supplies 1,850
Mr. Cassella made the motion, seconded by Mr. Vailette.
RESOLVED: That the Board of Finance recommends to the R.T.M. a transfer of $13,881as requested by the Registrar of Voters. The vote was unanimous.
4. The Board considered the Solid Waste and Recycling request for the following transfers which were presented by Peg Hall, Manager.
From: 101-4304-434.10-64 Transfer Station Attndnt Team Leader ($3,885.00)
From: 101-4304-434.33-15 Refuse Recycling Collection ($5,760.00)
From: 101-4304-434.33-16 Condo Association Rebate ($1,970.00)
From: 101-4904-494.59-13 Contingency ($158,225.00)
To: 101-4304-434.33-19 Transportation & Tip Fees $169,840.00
Mr. Cassella made the motion, seconded by Ms. Young.
RESOLVED: That the Board of Finance recommends to the R.T.M. a transfer of $169,840 as requested by Solid Waste & Recycling. The vote was unanimous.
5. The Board reviewed the 2003 Actuarial Valuation for the Police Pension Plan as prepared by Hooker & Holcombe and presented by Mr. Holcombe. Discussion followed. Chairman Mooney thanked Mr. Holcombe for this presentation.
6. The Board reviewed the proposal for the 2004 General Fund Budget from $72,106,402 to $72,996,402 by appropriating $890,000 from fund balance to substantially reduce the Town’s Net Pension Obligation, which was presented by Jim Finch, Finance Director.
From: Account Amount
303-10-16 Fund Balance ($890,000)
4901-491-20-15 Retirement Police 890,000
Mr. Cassella made the motion, seconded by Ms. Young.
RESOLVED: That the Board of Finance recommends to the RTM an increase in the Fiscal Year 2004 General Fund Budget from $72,106,402 to $72,996,402. This increase will be funded through a transfer from unappropriate fund balance and will be used to increase contributions to the Police Retirement Fund. The vote was unanimous.
7. The Board discussed the firm of Scully & Wolf LLP to audit the fiscal records of the Town of Branford for the period July l, 2003 to June 30, 2004. Finance Director Jim Finch said the firm did a very good job and knows the town very well, Selectman Opie agreed with the Finance Director.
Mr. Cassella made the motion, seconded by Ms. Young.
RESOLVED: That the Board of Finance hereby approve the firm of
Scully & Wolf LLP to audit fiscal records from July l, 2003 to June 30, 2004.
The vote was unanimous.
8. The Board discussed the pending EPA/DEP consent decree which was presented by Attorney Bellamy and Selectman Opie. Discussion followed. Two handouts attached.
Mr. Cassella made a motion, seconded by Ms. Young to adjourn the meeting at 9:21 p.m. The vote was unanimous.
February 26, 2004
Respectfully submitted,
Georgette A. Laske, Clerk
Board of Finance
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