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Minutes of Board of Finance, 12/12/2016

AGENDA: Board of Finance

RECEIVED 12/14/2016 9:36am
Michele R. Grande – Redding Town Clerk

MINUTES OF BOARD OF FINANCE
Monday, December 12, 2016
Redding Community Center, 7:30 p.m.

Present: W. Alvarez, Chairman; S. Clark; W. Mazzucco; J. Dolan; K. Yonkers; Mark Lewis.

Also present: J. Pemberton, First Selectman; M. Thompson, Selectman; P. O’Donnell, Selectman; Finance Director Gniadek; School Superintendent Dr. McMorran; Board of Education Chairman S. Sobel; Board of Education members Gwen Denny, Mike Hoffman, Ed Miller; Town Clerk Michele Grande; members of the public; Redding Pilot reporter; videographers.

Chairman Alvarez called the meeting to order at 7:30 p.m.

1. Discussion and possible action to fill potential BOF vacancy
On the motion of W. Mazzucco and the second of K. Yonkers, the Board voted unanimously to appoint Mark Lewis as a member of the Board of Finance in order to fill the vacancy left by Peg O’Donnell.

Town Clerk Michele Grande swore in Mr. Lewis.

2. To approve Minutes of meeting held November 28, 2016
On the motion of K. Yonkers and the second of W. Mazzucco, the Board voted to approve the Minutes of the November 28, 2016 meeting. M. Lewis abstained.

3. Bond Sale Update
Steve Gniadek reported that if the bond sale is more than 30 days before the pay-down date, estimated escrow charges of $5-10,000 will be incurred. The sale date with no charges is 2/15/17.

On the motion of W. Mazzucco and the second of K. Yonkers, the Board voted unanimously to authorize Steve Gniadek to use 2/15/17 as the auction date with the flexibility to adjust the date after consultation with financial advisors and Chairman W. Alvarez.

4. Joint meeting with Board of Selectmen and Board of Education to discuss 2017-18 budget.
Julia Pemberton reviewed her initial meetings with department heads in addition to variances and possible state cuts.

Dr. McMorran reviewed the regrouped proposed budget with an increase of more than 1% and less than 2%. A PowerPoint presentation detailed the cost centers.

Chairman Alvarez reiterated the goal of working collaboratively and requested submission of a budget that details the cost centers with a reduction of $500,000. W. Mazzucco noted that based on the surplus and discussions held in prior meetings, the expectations were that the proposed budget would reflect the requested reduction.

Special Education staffing was discussed. Dr. McMorran stated that out of 103 teachers, 15-20 are involved in the special education program. He also noted that 13% of incoming kindergarten students have been identified has having special needs. Dr. McMorran will forward the exact number of students to Mr. Mazzucco.

A day-long education budget workshop is being held by J. Pemberton on 1/6/17. The BOE budget workshops are scheduled for 1/10/17 and 1/12/17.

On the motion of W. Mazzucco and the second of J. Dolan, the Board voted unanimously to adjourn the meeting at 8:40 p.m.

Submitted by:
Kristi C. Reilly