Board of Finance minutes from 08-31-09
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August 31, 2009

The meeting was called to order by Chairman Joseph Mooney at 7:34 p.m.  Also present were Victor Cassella, Jeffrey Vailette, Charles Shelton, Lorraine Young and Kenneth Kaminsky.

Also present were First Selectman Anthony ‘Unk’ DaRos, Finance Director Jim Finch and Town Clerk Marianne Kelly.

1.    Approval of the minutes of the Board of Finance meeting from June 29, 2009.
Mr. Vailette made the motion, seconded by Mr. Kaminsky.  The vote was unanimous.

2.      The Board of Finance heard a presentation from Robert DeLucca of Merrill Lynch and Michael LePore of Wells Fargo (formerly Wachovia Securities) with regard to the performance of the town’s pension fund and, if necessary, to rebalance the pension portfolio for the quarter ending June 30, 2009.

Discussion followed.  The Board elected not to rebalance the portfolio at this time.

3.      The Board of Finance heard a transfer request from the Director of the East Shore Region Adult & Continuing Education program for the following transfer (FY09):

From:   207-4810-481.10-79              Salaried Non-Certified-A.E.     (    7,600)

To:       207-4810-481.33-27              Purch Svc Prof Tech-A.E.              2,300
             207-4810-481.34.00              Bank Service-A.E.                           3,800
             207-4810-481.61-01              Instructional Supplies-A.E.           1,500
                                                                                              TOTAL         7,600

Mr. Cassella made the motion, seconded by Ms. Young.

RESOLVED:  That the Board of Finance recommends to the RTM a transfer of $7,600 as requested by the Director of the East Shore Region Adult & Continuing Education program

The vote was unanimous.

4.  The Board of Finance heard a transfer request from the Board of Fire Commissioners for the following transfer (FY09):

From:   101-4204-424.10-00              Salaries & Wages                   (  78,637)
101-4204-424.10-38              Special Detail                            (    1,000)
101-4204-424.10-47              Utility                                         (       863)
101-4204-424.10-50              Deputy Fire Marshal                (       180)
101-4204-424.10-92              Holiday                                       (    7,696)
101-4204-424.10-95              Stipends                                     (  12,066)
101-4204-424.13-00              Longevity                                   (    1,830)
101-4204-424.32-01              Physicals & Innoculations      (    5,191)
101-4204-424.30-00              Administrative Expense           (       675)
101-4204-424.15-00              Accrued Payroll                        (    2,032)
101-4204-424.41-01              Service Contracts                     (    5,543)
101-4204-424.41-03              Equipment R & M                     (    7,254)
101-4204-424.41-05              Replacement Equipment          (    9,328)
101-4204-424.41-09              Hose Replacement                    (       309)
101-4204-424.41-13              CMED                                         (    9,249)
101-4204-424.42-02              Electricity                                    (    1,164)
101-4204-424.54-01              Membership                               (         55)
101-4204-424.58-01              Training & Education               (    6,765)
101-4204-424.58-04              Fire Prev. / Investigat.              (       763)
101-4204-424.58-06              Stewards                                     (     3555)
101-4204-424.61-01              Misc. Operating Supplies        (     3778)
101-4204-424.61-15              Medical Supplies                      (     2638)
101-4204-424.62-01              Postage Expense                       (       521)
101-4204-424.70-07              Portable Radios & Pagers        (     3083)
101-4204-424.70-10              Breathing Apparatus                (         29)
101-4204-424.70-16              Fire Police                                   (     1151)
101-4204-424.70-93              Medical Equipment                   (       927)
                                                                                             TOTAL   (166,282)


To:     101-4204-424.10-90               Overtime                                       108,831
           101-4204-424.10-93               Sick                                                  39,741
101-4204-424.58-02              Uniform & cloth allow                       548
101-4204-424.42-01              Telephone                                        3,053
101-4204-424.42-06              Marine Fuel                                        202
101-4204-424.10-91              Vacation                                           5,513
101-4204-424.42-09              Hydrants                                          8,364
101-4204-424.10-94              Education                                              30
                                                                                TOTAL     166,282

Mr. Cassella made the motion, seconded by Mr. Vailette.

RESOLVED:  That the Board of Finance recommends to the RTM a transfer of $166,282 as requested by the Board of Fire Commissioners.

The vote was unanimous.

5.   The Board of Finance heard a request from the Board of Fire Commissioners for the following transfer (FY09):

From:  101-4904-494.59-13             Contingency                            (  55,872)

To:      101-4244-424.10-44             Medic Part Time                         11,257
           101-4204-424.33-03             Ambulance Billing                     10,972
           101-4204-424.10-94             Education                                    33,643
                                                                                        TOTAL       55,872

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

RESOLVED:  That the Board of Finance recommends to the RTM a transfer of $55,872 as requested by the Board of Fire Commissioners.

The vote was unanimous.

6.    The Board of Finance heard a request from the Board of Police Commissioners for the following transfer (FY09):

From:   101-4201-421.10-00              Salary                                      (   34,398)
             101-4201-421.41-01              Service Contracts                 (     9,800)
             101-4201-421.10-95              Supernumerary Training     (     6,957)
             101-4201-421.11-04              Winter Boat                           (     5,238)
             101-4201-421.58-01              Education Expense               (     5,001)
             101-4201-421.10-93              Sick                                         (     4,808)
             101-4201-421.56-00              Training                                 (     3,429)
             101-4201-421.15-00              Accrued Payroll                    (     3,097)
             101-4201-421.61-01              Operating Expenses             (        684)
                                                                                  TOTAL          (   73,412)

To:     101-4201-421.10-90              Overtime                                      62,464
          101-4201-421.10-91              Vacation                                        1,679
           101-4201-421.10-92              Holiday                                          3,905
           101-4201-421.10-94              Education Incentive                       750
           101-4201-421.42-02              Electricity                                      4,614
                                                                                        TOTAL        73,412

Mr. Cassella made the motion, seconded by Ms. Young.

RESOLVED:  That the Board of Finance recommends to the RTM a transfer of $73,412 as requested by the Board of Police Commissioners.

The vote was unanimous.

7.    The Board of Finance heard a request from the Human Resources Director for the following transfer (FY10):

From:   101-49040-588802                Contingency                         ( 226,020)             

To:     101-42040-51700                  Salaries                                        164,721
           101-42040-51800                  Overtime                                         6,870
           101-42040-518200                Replace Sick                                   5,342
           101-42040-518050                Replace Vacation                         14,694
           101-42040-518150                Replace Holiday                           11,068
           101-42040-519020                Longevity                                        1,125
          101-42040-519050                Stipends                                         19,000
          101-42040-526100                Boot Allowance                              3,200
                                                                                          TOTAL     226,020

Mr. Cassella made the motion, seconded by Ms. Young.

RESOLVED:  That the Board of Finance recommends to the RTM a transfer of $226,020 as requested by the Human Resources Director.

The vote was unanimous.

8.       The Board of Finance heard a request from the Human Resources Director for the following transfer (FY09):

From:   101-4902-492.20-09              Health Insurance Premiums   (    6,549)
To:       101-4901-491.20-17              Unemployment  Comp.                6,549

Mr. Cassella made the motion, seconded by Mr. Vailette.

RESOLVED:  That the Board of Finance recommends to the RTM a transfer of $6,549 as requested by the Human Resources Director.

The vote was unanimous.

9.       The Board of Finance heard a request from the Finance Director for the following transfer (FY09):

From:   101-4104-404.62-01              Postage                                    (    1,906)

To:     101-4104-404.53-02                Legal Notices                               1,718
           101-4104-404.15-00                Accrued Payroll                                14
          101-4104-404.12-05                Treasurer                                          174
                                                                                           TOTAL        1,906

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

RESOLVED:  That the Board of Finance recommends to the RTM a transfer of $1,906 as requested by the Finance Director.

The vote was unanimous.

10.     To hear a request from the Finance Director for the following transfer (FY09):

From:   101-4117-417.10-00              Salaries & Wages                 (    7,870)

To:     101-4117-417.10-09                Overtime                                       7,600
          101-4117-417.58-02                 lothing                                           270
                                                                                           TOTAL        7,870

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

RESOLVED:  That the Board of Finance recommends to the RTM a transfer of $7,870 as requested by the Finance Director.

The vote was unanimous.

11.     The Board of Finance heard a request from the Finance Director for the following transfer (FY09):

From:    101-4702-472.91-12              Bonding Costs                      (  15,810)
To:        101-4901-491.20-19              Vol. Fire Stipend                       15,810

Mr. Kaminsky made the motion, seconded by Ms. Young.

RESOLVED:  That the Board of Finance recommends to the RTM a transfer of $15,810 as requested by the Finance Director.

The vote was unanimous.

12.     The Board of Finance heard a request from the Finance Director for the following transfer (FY09):

From:   101-4903-493.51-01              Property & General Liability  (    6,686)
To:       101-4903-493.51-10              Insurance Damage                        6,686

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

RESOLVED:  That the Board of Finance recommends to the RTM a transfer of $6,686 as requested by the Finance Director.

The vote was unanimous.

13.     The Board of Finance heard a request from the Finance Director for the following transfer (FY09):

From:   101-4904-494.59-13              Contingency                          (   35,000)
To:       101-4903-493.35-05              Hypertension Disability           35,000

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

RESOLVED:  That the Board of Finance recommends to the RTM a transfer of $35,000 as requested by the Finance Director.

The vote was unanimous.

14.     The Board of Finance heard a request from the Finance Director for the following transfer (FY09):

From:   101-4904-494.59-13              Contingency                           ( 321,432)
            101-4901-491.20-14              Retirement Municipal            (   18,677)
                                                                       Employees
            101-4901-491.20-16              Social Security                        (   16,766)
                                                                                           TOTAL   ( 356,875)

To:     101-4201-421.95-01              Operating-Transfer Out/           122,219
                                                                                          Police
          101-4204-424.95-01              Operating-Transfer Out/Fire    234,656
                                                                              TOTAL     356,875

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

RESOLVED:  That the Board of Finance recommends to the RTM a transfer of $356,875 as requested by the Finance Director.

The vote was unanimous.

Mr. Cassella made a motion to adjourn, seconded by Mr. Kaminsky.  The vote was unanimous.

The meeting adjourned at 9:26 p.m.

Dated this 3rd day of September, 2009

Respectfully submitted,

Marianne Kelly, Clerk

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