BOARD OF FINANCE MINUTES
February 27, 2006
APPROVED MINUTES
The meeting was called to order by Chairman Joseph Mooney at 7:30 p.m. Also present were Lorraine Young, Victor Cassella, and Jeffrey Vailette. Charles Shelton, Jr. and Kenneth Kaminsky were not present.
Also present were Selectmen Morris and Sullivan, Marianne Kelly, Town Clerk, Jim Finch, Finance Director and Peter Hugret, IT Director.
1. Ms Young made a motion, seconded by Mr. Vailette, to approve the minutes of the January 30, 2006 Board of Finance meeting. The motion was passed by unanimous vote.
2. Presentation from Wachovia Securities and Merrill Lynch with regard to the performance of the Police and Volunteer Fire Pension Fund and to review the current asset allocation and continue the discussion as it relates to changes in asset liability assumptions and projected investment returns. The Finance Director reported on the Board of Trustees recommendation. Chairman Mooney said that a special meeting will be called on Saturday, March 18, 2006 to discuss this matter further.
3. The Board of Finance considered a request from the Registrar of Voters Office for the following transfer to cover the costs associated with the Tuesday, March 7, 2006 Town Committee Primary.
From: 4904-494.59-13 Contingency $(1,966)
From: 4112-412.11-01 Election Workers $(3,234)
To: 4112-412.11-02 Primary & Special Elections $ 4,700
To: 4112-412.11-03 Voting Machine R&M $ 500
From: 4904-494.59-13 Contingency $( 340)
To: 4112-412.33-24 Moving & Storage $ 340
Mr. Cassella made the motion, seconded by Ms. Young. The motion was passed by unanimous vote.
4. The Board of Finance considered a request from the Registrar of Voters Office for the following transfer to cover the purchase of one AccuVote Optical Scan voting machine.
From: 4904-494.59-13 Contingency $(6,995)
To: 4112-412.33-24 Filing Cabinet/ $ 6,995
Voting Machine
Mr. Cassella made the motion, seconded by Mr. Vaillette. The motion was passed by unanimous vote.
5. The Board of Finance considered a request from the Superintendent of Schools and the Finance Director for an appropriation of $400,000 for the replacement of the Branford High School athletic field and to establish a separate fund for this purpose. This request anticipates contributions from the Board of Education totaling $250,000 coupled with an appropriation of $150,000 from fund balance.
Resolved: That the Board of Finance recommends to the RTM an appropriation of $400,000 to establish a fund for financing improvements to the Branford High School track and athletic field and for future use as a sinking fund. In addition, the Board of Finance recommends funding this item by increasing the General Fund Budget from $79,591,241 to $79,741,124. The increase of $150,000 is funded from undesignated fund balance.
Mr. Vaillette made the motion, seconded by Mr. Cassella. The motion was passed by unanimous vote.
6. The Board of Finance considered a request from the Finance Director to establish a medical self-insurance fund for dental and prescription costs funded on a pay as you go basis.
Resolved: That the Board of Finance established a fund for financing medical, dental and prescription drug costs funded with contributions from general fund appropriations for medical benefits.
Mr. Cassella made the motion, seconded by Mr. Vaillette. The motion was passed by unanimous vote.
7. The Board of Finance considered a request from the James Blackstone Library Board of Trustees to reprogram the 2005-06 capital allocation in the amount of $10,847 to use funds previously allocated for window replacement for repairs the boiler.
Mr. Vaillette made the motion, seconded by Mr. Cassella. The motion was passed by unanimous vote.
8. The Board of Finance considered a request from the Information Technology Director for a transfer to cover the cost of a public use copier in the Town Clerk’s Office.
From: 4904-494.59-13 Contingency $( 1,995)
To: 4119-419-63.01 Hardware $ 1,995
Mr. Cassella made the motion, seconded by Mr. Vaillette. The motion was passed by unanimous vote.
9. The Board of Finance considered a request from the Information Technology Director for a transfer to cover shortfalls related to communications billings.
From: 4401-441.42-01 Human Resources/Telephone $( 9,780)
To: 4119-419-41.06 Data Processing Equipment/ $ 9,780
Communication Expense
Mr. Vaillette made the motion, seconded by Mr. Cassella. The motion was passed by unanimous vote.
10. The Board of Finance considered a request from the Board of Police Commissioners for the following transfer to equip the new cars with emergency lights, sirens, cages, etc.
From: 4201-421.10-00 Salaries/Wages $(12,000.)
To: 4201-421.70-79 Equipment $ 12,000.
Mr. Cassella made the motion, seconded by Mr. Vaillette. The motion was passed by unanimous vote.
11. The Board of Finance considered the following transfer request from the Finance Director and Tax Collector:
From: 4904-494.59-13 Contingency $(235,000)
To: 4107-407.59-01 Tax Appeals $ 235,000
Mr. Cassella made the motion, seconded by Ms. Young. The motion was passed by unanimous vote.
In addition, Chairman Mooney requested that the Finance Director, Tax Collector and Assessor come before the Board of Finance with a follow-up report at the April meeting concerning tax appeals for the 2002 and 2004 revaluations.
12. The Board of Finance considered the following transfer request from the Finance Director:
From: 4904-494.59-13 Contingency $(25,000)
To: 4903-493.51-10 Insurance Damage $ 25,000
Mr. Cassella made the motion, seconded by Ms. Young. The motion was passed by unanimous vote.
13. The Board of Finance was asked to hear a request from the Finance Department adopting a resolution to allow the Town to obtain credit cards through Wachovia Bank to be used by the Finance Department and the Commission for the Elderly.
Resolved: That the Board of Finance permit the Finance department to apply for credit cards issued through Wachovia Bank with a maximum limit of $5,000 per card for the following individuals: Matthew Brady, Senior Center Director; Dagmar Ridgway, Senior Center Assistant Director; Kathryn LaBanca, Assistant Finance Director; Anne (Nancy) Porto, Purchasing Agent.
Chairman Mooney also noted that there should be no personal use of these municipal credit cards.
Mr. Cassella made the motion, seconded by Mr. Vaillette. The motion was passed by unanimous vote.
14. The Board of Finance was asked to review the fiscal impact of the recently approved changes to the Veteran’s exemption program.
First Selectwoman Cheryl Morris explained the approval action of the RTM, expressed regret regarding the lack of opportunity for the Board of Finance to review the item and that she would work to re-establish past protocol of Board of Finance review and input on these and related matters. No action was taken on the item and Chairman Mooney requested more information for clarification from the Assessor in response to Dominic Buonocore’s questions pertaining to local options.
15. The Board of Finance was asked to discuss a current RTM proposal to provide tax abatements for elderly taxpayers.
The First Selectwoman presented her proposal that will provide an additional credit of $200 for those seniors qualified under the State of Connecticut Circuit Breaker program. Discussion followed including the possible formation of a committee-under CGS 12-129n (b), to undertake a study of municipal tax relief for seniors.
Resolved: That the Board of Finance recommends that a committee shall be established pursuant to CGS 12-129n (b), to undertake a study of municipal tax relief for seniors.
Mr. Cassella made the motion, seconded by Ms. Young. The motion was passed by unanimous vote.
This item was also referred by Chairman Mooney to the agenda of the Special Meeting on March 18, 2006.
16. A request to the Board of Finance to reappoint the accounting firm of Scully & Wolf to perform the annual audit for the fiscal year ending 6/30/2006.
Resolved: That the Board of Finance appoints Scully &Wolf, LLP to perform the annual audit for the fiscal year ending 6/30/06.
Mr. Vaillette made the motion, seconded by Ms. Young. The motion was passed by unanimous vote.
Mr. Cassella made a motion, seconded by Ms. Young to adjourn the meeting at 9:52 p.m. The vote was unanimous.
Respectfully submitted,
Marianne Kelly, Clerk
Board of Finance
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