TOWN OF BRANFORD
BOARD OF FINANCE MINUTES
August 28, 2006
Jeffrey Vailette and Lorraine Young were sworn in by Marianne Kelly, Town Clerk, before the meeting. They were reappointed to a three year term by the Board of Selectman.
The meeting was called to order by Chairman Joseph Mooney at 7:30 p.m. Also present were Charles Shelton, Jr., Kenneth Kaminsky, Lorraine Young and Victor Cassella and Jeffrey Vailette.
Also present were Selectwoman Cheryl Morris, Selectman Richard Sullivan, Marianne Kelly, Town Clerk and Kathryn LaBanca, Assistant Finance Director.
1. Mr. Kaminsky made the motion, seconded by Mr. Cassella, to approve the amended minutes of the July 31, 2006 meeting and the minutes of the August 10, 2006 Special Meeting. The motion was passed by unanimous vote.
2. The Board of Finance heard a presentation from Merrill Lynch and Wachovia Securities with regard to the performance of the town’s police and fire pension fund for the quarter ending June 30, 2006.
3. The Board of Finance considered a request from the Assessor’s Office for the following transfer from fiscal year 2005-06:
From: 4105-405.10-90 Extra Help $( 6,995)
To: 4105-405.33-05 Appraisal Services $ 6,995
Mr. Cassella made the motion, seconded by Ms. Young.
RESOLVED: That the Board of Finance recommends to the RTM a transfer of $6,995 from fiscal year 2005-06 as requested by the Assessor’s Office. The vote was unanimous.
4. The Board of Finance considered a request from the Town Clerk for the following transfer from fiscal year 2005-06:
From: 4904-494.59-13 Contingency $( 1,597)
To: 4101-401.53-02 Legal Notices $ 1,597
Mr. Cassella made the motion, seconded by Mr. Kaminsky.
RESOLVED: That the Board of Finance recommends to the RTM a transfer of $1,597 from fiscal year 2005-06 as requested by the Town Clerk. The vote was unanimous.
5. The Board of Finance heard a request from the Assistant Finance Director to approve a bond authorization in the amount of $2,100,000 for the Walsh Intermediate School Roof, Window and Door Replacement Project. Discussion followed.
Ms. Young made the motion, seconded by Mr. Cassella.
RESOLVED, that the Board of Finance recommends that the Town of Branford appropriate $2,100,000 for costs related to roof and window replacement, and to the extent of available funds replacement of all or a portion of the entry doors, at Walsh Intermediate School, and related work and improvements, and provide that the appropriation may be spent for design and construction costs, equipment, materials, architects’ fees, engineering fees, testing costs, legal fees, net interest on borrowings and other financing costs, and other expenses related to the project or its financing, including, without limitation, gutter and roof-top equipment replacement and improvements; and that the Town issue bonds or notes and temporary notes in an amount not to exceed $2,100,000 to finance the appropriation, the amount of bond or notes authorized to be
reduced by the amount of grants received by the Town for the project. The vote was unanimous.
Ms. Young made the motion, seconded by Mr. Vailette to adjourn the meeting at 8:15 p.m. The vote was unanimous.
Dated this 29th day of August, 2006
Respectfully submitted,
Marianne Kelly, Clerk
Board of Finance
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