The meeting was called to order by Chairman Joseph Mooney at 7:32 p.m. Also present were Lorraine Young, Kenneth Kaminsky, Victor Cassella, Charles Shelton, Jr. and Jeffrey Vailette.
Also present were First Selectwoman Cheryl Morris, Selectman Richard Sullivan, Selectman John Opie, James Finch, Finance Director and Marianne Kelly, Town Clerk.
1. Ms. Young made the motion, seconded by Mr. Kaminsky, [Marker]to approve the minutes of the June 25, 2007 meeting. The vote was unanimous.
2. The Board of Finance heard a presentation from Wachovia Securities Merrill Lynch with regard to the performance of the town’s pension fund for the quarter ending June 30, 2007.
3. To consider and, if appropriate, rebalance the pension fund to adhere to the investment policy implemented by the Board of Finance. The investment advisors underscored that the current asset allocation was in compliance with the investment policy guidelines and as a result, they recommended no changes.
4. The Board of Finance heard a request from the Board of Police Commissioners for the following transfer (FY 2006-07):
From: 101-4201-421-10-00 Salary & Wages $( 16,000)
101-4201-421.10-92 Holiday $( 4,000)
101-4201-421-10-93 Sick $( 15,000)
101-4201-421.11-04 Winter Boat $( 6,200)
101-4201-421.32-01 Phys. & Innoc. $( 5,000)
101-4201-421.41-01 Service Contracts $( 10,000)
101-4201-421.42-01 Telephone $( 31,717)
101-4201-421.60-01 Office Supplies $( 3,000)
TOTAL $( 90,917)
To: 101-4201-421-10-05 Clerical $ 1,352
101-4201-421-10-36 School Guards $ 5,180
101-4201-421.10-85 Retro. Wages $ 40,643
101-4201-421-10-90 Overtime $ 21,721
101-4201-421-10-91 Vacation $ 8,298
101-4201-421-41-06 Comm. Expenses $ 1,326
101-4201-421.41-07 Parts $ 322
101-4201-421-42-02 Electricity $ 11,508
101-4201-421-42-04 Water $ 567
TOTAL $ 90,917
Mr. Cassella made the motion, seconded by Mr. Vailette.
RESOLVED: That the Board of Finance recommends to the RTM a transfer of $90,917 as requested by the Board of Police Commissioners. The vote was unanimous.
5. The Board of Finance heard a request from the Water Pollution Control Authority Superintendent for the following transfer (FY 2006-07):
From: 101-4303-433.33-33 Sludge Disposal $(56,204)
To: 101-4303-433.42-02 Electricity $ 49,800
101-4303-433.42-02 Pump Out Services $ 5,540
101-4303-433.58-02 Uniforms & Clothing $ 864
TOTAL $ 56,204
Mr. Vailette made the motion, seconded by Mr. Kaminsky.
RESOLVED: That the Board of Finance recommends to the RTM a transfer of $56,204 as requested by the Water Pollution Control Authority Superintendent. The vote was unanimous.
6. The Board of Finance heard a request from the Director of the Department of Public Works for the following transfer (FY 2006-07):
From: 101-4301-431.42-08 Street Lights $(14,670)
To: 101-4301-431.13-00 Longevity $ 100
101-4301-431.33-31 Evictions $ 372
101-4301-431.42-05 Gasoline $ 6,657
101-4301-431.42-10 Utilities $ 6,887
101-4301-431.58-02 Uniforms $ 654
TOTAL $ 14,670
Mr. Cassella made the motion, seconded by Mr. Vailette.
RESOLVED: That the Board of Finance recommends to the RTM a transfer of $14,607 as requested by the Director of the Department of Public Works. The vote was unanimous.
7. The Board of Finance heard a request from the General Government Buildings Manager for the following transfer (FY 2006-07):
From: 101-4904-494.59-13 Contingency $( 7,500)
To: 101-5000-500.95-10 Capital $ 7,500
Mr. Cassella made the motion, seconded by Ms. Young.
Discussion followed. Committee members Mark Winik and Barbara DiMauro joined GGB Manager, John Smith in explaining the success of the Short Beach Dog Park and the need for a permanent fence to be erected for the safety of the pets. First Selectwoman Morris urged the Board of Finance to support this project, as the pilot phase proved to be very successful and beneficial for pets and their owners.
RESOLVED: That the Board of Finance recommends to the RTM a transfer of $7,500 as requested by the General Government Buildings Manager. The vote was unanimous.
Mr. Vailette made the motion, seconded by Mr. Cassella, to add the following item to the agenda. The vote was unanimous.
8. The Board of Finance heard a request from the Director of the East Shore Region Adult & Continuing Education for the following transfer:
From: 207-4810-481.10-78 Certified Staff $( 2,971)
To: 207-4810-481.10-79 Non-certified Staff $ 2,971
Mr. Cassella made the motion, seconded by Mr. Kaminsky.
RESOLVED: That the Board of Finance recommends to the RTM a transfer of $2,971 as requested by the Director of the East Shore Region Adult & Continuing Education. The vote was unanimous.
Mr. Cassella made the motion, seconded by Mr. Kaminsky, to add the following item to the agenda. The vote was unanimous.
9. The Board of Finance heard a request from the Finance Director for the following transfers (FY 2006-07):
Volunteer Pension Fund:
From: 4904-494.59-13 Contingency $( 5,000)
To: 4901-491.20-19 Volunteer Fire Stipend ( 5,000)
Mr. Cassella made the motion, seconded by Ms. Young.
RESOLVED: That the Board of Finance recommends to the RTM a transfer of $5,000 as requested by the Finance Director for the Volunteer Fire Pension. The vote was unanimous.
Building Department:
From: 4205-425.33-07 Consulting $( 1,400)
To: 4205-425.10-90 Overtime $ 1,400
Mr. Cassella made the motion, seconded by Ms. Young.
RESOLVED: That the Board of Finance recommends to the RTM a transfer of $1,400 as requested by the Finance Director to cover overtime costs in the Building Department.
10. Mr. Cassella made the motion, seconded by Ms. Young, to go into executive session to discuss the pending litigation and need for additional funding for the Tabor Drive Eminent Domain case. The vote was unanimous.
Chairman Mooney called the executive session to order at 8:36 p.m.
The Board of Finance, First Selectwoman Cheryl Morris, Selectman Richard Sullivan, Selectman John Opie, Finance Director James Finch, Board of Finance Clerk Marianne Kelly, and Attorneys David Doyle, David Reif and David Mons were in attendance.
Mr. Cassella made the motion, seconded by Mr. Kaminsky, to adjourn the executive session at 9:18 p.m. The vote was unanimous.
11. The Board of Finance heard a request to approve a resolution authorizing additional funds for the Tabor Drive appropriation. Mr. Mooney read the following the resolution as prepared by the Town’s bond counsel.
RESOLVED: That the resolution entitled: “A RESOLUTION AMENDING A RESOLUTION APPROPRIATING $2,500,000 FOR THE COSTS RELATED TO THE ACQUISITION
THROUGH NEGOTIATED PURCHASE, OR THROUGH THE EXERCISE OF EMINENT DOMAIN, OF THE 48-86 TABOR DRIVE PROPERTY AND AUTHORIZING THE ISSUE OF BONDS AND NOTES TO FINANCE SAID APPROPRIATION BY INCREASING THE APPROPRIATION AND FINANCING AUTHORIZATION TO $3,000,000” be adopted and recommended for adoption by the Representative Town Meeting.
Pursuant to a motion from Mr. Cassella and seconded by Ms. Young, the resolution passed unanimously.
Mr. Cassella made the motion, seconded by Mr. Kaminsky to adjourn the meeting at 9:23 p.m. The vote was unanimous.
Dated this 28th day of August, 2007
Respectfully submitted,
Marianne Kelly, Clerk
| 
