Board of Finance minutes from 05/11/2006

BOARD OF FINANCE MINUTES

The meeting was called to order by Chairman Joseph Mooney at 7:30 p.m. Also present were Jeffrey Vailette, Charles Shelton, Jr. and Kenneth Kaminsky. Lorraine Young and Victor Cassella were not present.

Also present were Selectwoman Cheryl Morris, Selectman Richard Sullivan, Marianne Kelly, Town Clerk, and James Finch, Finance Director.

1. Mr. Vaillette made the motion, seconded by Mr. Kaminsky, to approve the minutes of the March 13, 14, 16, 18 and Special Meetings on March 16 and 16 Board of Finance meetings. The motion was passed by unanimous vote.

Also, Mr. Vaillette made the motion, seconded by Mr. Kaminsky approve the April 10 minutes with recommended changes and to approve the April 24 corrected minutes. The motion was passed by unanimous vote.

2. The Board discussed the mill rate for fiscal year 2006-2007.

Mr. Kaminsky made the motion, seconded by Mr. Vaillette

RESOLVED: That the Board of Finance does hereby establish the mill rate for the Town of Branford for fiscal year July 1, 2006-June 30, 2007 at 21.76. The vote was unanimous.

First Selectwoman thanked Board of Finance members and all those involved in passing a fair and equitable budget.

3. The Board heard a presentation from Wachovia Securities and Merrill Lynch with regard to the performance of the town’s pension fund for the quarter ending March 31, 2006.

4. The Board considered a request from the Branford School Age Child Care Program for the following transfer for new air conditioners at Branford Hills School and a donation to the Tisko playground:

From: 208-4800-480.61-01 Instructional Supplies $( 3,000)

To: 208-4800-480.70-47 Equipment $ 3,000

Chairman Mooney requested the exact breakdown of the monies requested. Ms. Vickstrom reported that $2500 would be donated for playground equipment at Tisko School and $500 would go towards air conditioners at Branford Hills School. Chairman Mooney requested that BOE Business Manager, Tashie Rosen be informed of the donation to Tisko School.

Mr. Vaillette made the motion, seconded by Mr. Kaminsky.

RESOLVED: That the Board of Finance recommends to the RTM a transfer of $3,000 as requested by the Branford School Age Child Care Program. The vote was unanimous.

5. The Board considered a request from the Board of Fire Commissioners for the following transfer:

From: 4204-424.10-00 Salary $( 20,000)

4204-424.10-47 Utility Shifts $( 3,000)

4204-424.41-01 Service Contract $( 3,000)

4204-424.41-03 Equipment R&M $( 5,000)

4204-424.41-09 Hose $( 8,500)

4204-424.41-13 C-Med $( 8,000)

4204-424.58-02 Clothing $( 1,000)

4204-424.58-06 Stewards $( 3,000)

4204-424.70-07 Portables $( 8,000)

4204-424.70-11 Vol. Equipment $( 20,000)

4204-424.70-13 GX-7 $( 8,000)

4204-424.70-16 Fire Police $( 1,500)

To: 4204-424.10-93 Sick $ 89,000

A discussion of the Workman’s Compensation light duty policy followed.

Mr. Vaillette made the motion, seconded by Mr. Shelton.

RESOLVED: That the Board of Finance recommends to the RTM a transfer of $89,000 as requested by the Board of Fire Commissioners. The vote was unanimous.

6. The Board considered a request for $207,532 from the Board of Police Commissioners for the following transfer:

From: 101-4201-421.10-00 Salary & Wages $(175,000)

To: 101-4201-421.10-90 Overtime $ 175,000

From: 101-4201-421.56-00 Training $( 5,500)

101-4201-421.10-95 Supernumerary Training $( 2,032)

To: 101-4201-421.10-94 Education Incentive $ 575

101-4201-421.54-01 Membership & Meetings $ 405

101-4201-421.61-01 Misc. Operating Supplies $ 314

101-4201-421.58-02 Uniform & Clothing Allow. $ 2,994

101-4201-421.42-04 Water $ 3,244

From: 101-4201-421.13-00 Longevity $( 1,200)

101-4201-421.32-01 Physicals & Innoculations $( 1,600)

101-4201-421.41-04 Photo Lab $( 3,000)

To: 101-4201-421.10-36 School Crossing Guards $ 5,800

From: 101-4201-421.42-01 Telephone $( 9,200)

To: 101-4201-421-42-02 Electric $ 9,200

From: 101-4201-421.10-00 Salary & Wages $( 10,000)

To: 101-4201-421.41-07 Parts $ 10,000

Discussion on Workers’ Compensation and the modified duty program followed. Specific questions were asked related to bargaining unit agreements. Pursuant to the questions regarding Workers’ Compensation, Jim Finch suggested that we invite Robert Moore and Berkley Risk Services to provide the Board of Finance with an overview of the Workers’ Compensation program from injury reporting, to case management and modified duty requirements. Chairman Mooney agreed and requested that Human Resources Director Robert Moore give a presentation with Berkley Risk Services at the June Board of Finance meeting.

Mr. Kaminsky made the motion, seconded by Mr. Vaillette.

RESOLVED: That the Board of Finance recommends to the RTM a transfer of $207,532 as requested by the Board of Police Commissioners. The vote was unanimous.

7. The Board considered a request from the Building Official for the following transfers to cover accrued expenses:

From: 4205-425.10-00 Salaries $( 26,077)

To: 4205-425.33-07 Consulting Services $ 26,077

From: 4205-425.54-01 Membership & Meetings $( 500)

To: 4205-425.33-07 Consulting Services $ 500

From: 4205-425.42-01 Telephone $( 525)

To: 4205-425.61-01 Operating Supplies $ 525

From: 4205-425.41-01 Service Contracts $( 300)

To: 4205-425.60-01 Office Supplies $ 300

Mr. Kaminsky made the motion, seconded by Mr. Vaillette.

RESOLVED: That the Board of Finance recommends to the RTM a transfer of $27,402 as requested by the Building Official. The vote was unanimous.

8. The Board considered a request from the Information Technology Director for the following transfer:

From: 101-4119-419.63-02 Data Processing Software $( 55)

To: 101-4119-419.54-01 Membership & Meetings $ 55

From: 101-4119-419.63-02 Data Processing Software $( 435)

To: 101-4119-419.61-01 Operating Supplies $ 435

From: 101-4119-419.63-01 Data Processing Hardware $( 2,000)

To: 101-4119-419.41-06 Communications $ 2,000

Mr. Vaillette made the motion, seconded by Mr. Kaminsky.

RESOLVED: That the Board of Finance recommends to the RTM a transfer of $2,490 as requested by the Information Technology Director. The vote was unanimous.

Finance Director James Finch noted that during the next few meetings, the Board of Finance should review those projects for which bonding is anticipated. It was suggested that prior to voting on school roofs and the renovations to the Fire/DPW headquarters that a detailed analysis of the costs and plans for these projects be made available to Board of Finance members in advance and open for discussion. Chairman Mooney requested a presentation on those projects requiring bond authorizations prior to voting.

Finch also stated that the issue of funding other post-employment benefits (OPEB) should be revisited as the balance in the retiree benefits fund approaches $2 million. He indicated that legislation is awaiting the governor’s signature to enable the establishment OPEB trusts. If a trust is established the town is afforded greater flexibility in investing the assets which will produce higher returns over time. The ability to achieve a higher return will serve the town well since the rate of return is used to discount the liabilities. Therefore, the town should work toward establishing an OPEB trust during the next fiscal year. The trust fund would be overseen by the Board of Finance. An implementation plan for establishing the trust will be presented by the Finance Dept.

Mr. Kaminsky made the motion, seconded by Mr. Vaillette to adjourn the meeting at 8:58 p.m. The vote was unanimous.

Respectfully submitted,

Marianne Kelly, Clerk