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Minutes of Board of Finance, 05/22/2017

AGENDA: Board of Finance

RECEIVED 05/25/2017 9:20am

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Board of Finance
Monday, May 22, 2017
7:30 p.m., Town Hall Hearing Room
MINUTES

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

Also present: Julia Pemberton, First Selectman; P. O’Donnell, Members of the Board of Education; members of the public; videographers.

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

1.     To approve Minutes of Meetings held on May 2, 2017 and April 24, 2017.
On the motion of  K. Yonkers and the second of  W. Mazzucco, the Board voted unanimously to approve the April 24, 2017 and May 2, 2017 Meeting Minutes.

2.     Tax Collector’s Report
Chairman Alvarez reviewed the Tax Collector Report submitted by P. Moisio.  $45,962,000 has been collected. The 2016 Grand List is ready to print and the bills are anticipated to go out the last day of May.

3.     Finance Director’s Report
Chairman Alvarez reviewed the report submitted by S. Gniadek. Per the latest information from the Governor, Redding may see a decrease in State aid to the Town of $821,000.  The revised Fiscal Year forecast will be adjusted to a shortfall of $95,000 instead of $36,000.  The revised Expense forecast is favorable by $194,000.

Mr. Mazzucco suggested that the Board of Education be requested to return a potential surplus to the Town instead of adding to the health reserves.  Chairman Alvarez will discuss this with the BOE Chairman.

4.     Treasurer’s Report
Deputy Treasurer Wes Higgins reported balances as noted the in Treasurer’s Report.

5.     Reports from Individual Board members as assigned
No items.

6.     Correspondence and Administrative matters
No items.

Chris Parkin, Indian Hill Road questioned who the members of the BOF Subcommittee are.  Chairman Alvarez confirmed the members as himself, W. Mazzucco and S. Gniadek.

On the motion of M. Lewis and the second of W. Mazzucco, the Board voted unanimously to adjourn the meeting at 7:45 p.m.

Submitted by:
Kristi C. Reilly