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Minutes of Board of Finance Special Meeting, 10/02/2017

AGENDA: Board of Finance Special Meeting

RECEIVED 10/05/2017 10:50am

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Board of Finance Special Meeting
Monday, October 2, 2017
7:30 p.m., Town Hall Hearing Room
MINUTES

Present: William Alvarez, Chairman; S. Clark; W. Mazzucco; M. Lewis.

Also present: Julia Pemberton, First Selectman; P. O’Donnell; M. Thompson; S. Gniadek; J. Meehan; W. Higgins; P. Moisio; members of WPCC; members of the public; videographers.

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

1.      To approve Minutes of Meeting held on August 28, 2017

On the motion of W. Mazzucco and the second of S. Clark, the Board voted unanimously to approve the August 28, 2017 Meeting Minutes.

J. Dolan and K. Yonkers were seated.

2.      Tax Collector’s Report

Tax Collector Pat Moisio introduced the Assistant Tax Clerk, Katherine Stauffer. Tax collection as of the end of August was at 53.3% of budget, up from 52.5% at the same time last year.

Use of the new ATM has been low.  Marketing efforts and informing residents of the ATM were suggested.

3.      Finance Director’s Report

Steve Gniadek reported that the Town Audit is scheduled to be presented to the BOF at the 11/27/17 meeting.  A data request list has been sent to the Central Office re: schools audit.  The auditor for the Board of Finance is also coordinating, so as to minimize any disruption to the administration.

On the motion of K. Yonkers and the second of W. Mazzucco, the Board voted unanimously to move $50,000 from the Contingency Account to the Audit Account.

Mr. Gniadek will confirm whether any further additions or overage will necessitate coming back to BOF for approval.

Wes Higgins and Scott Reiss have joined the Long Range Financial Planning Committee.  The first meeting is 10/5/17. An updated report will be discussed at the 10/23/17 BOF meeting.

Re: State budget, S. Gniadek stated the main concern with respect to school funding is the money that goes directly to the schools.

4.      Treasurer’s Report

Janice Meehan reviewed the Treasurer’s Report. She noted that she and W. Higgins are developing a ladder strategy for maturing CDs.
Steve Gniadek suggested adding an investment income budget line from special accounts to the General Fund. This will be done quarterly.

5.      Review October 1, 2017 Enrollment Report
Ward Mazzucco reported that predicted vs. actual enrollment figures were received, but the BOF needs additional context to analyze them.

6.      WPCC Plant Update

Rich Regan and Jim Miller were present for the WPCC.  Mr. Miller reviewed the scope of the proposed project of replacing the analog PLC membranes with digital membranes, updating and replacing computers and software as outlined, a one-month third-party evaluation of power, and a pumping contingency should another failure occur.  Discussions re: Layne Christensen liability will be discussed with the Board of Selectmen.

Julia Pemberton confirmed that once BOF approves the amount, it is referred to BOS who reviews it at a Town Meeting at which time a referendum is scheduled. M. Lewis questioned whether the BOF should utilize the normal practice of competitive bidding.

The Town bidding process will be reviewed with Town Counsel.

7.      Reports from Individual Board members as assigned

Chairman Alvarez noted that a report from the Mark Twain Library Association is forthcoming.

8.      Correspondence and Administrative matters
Colleen Pilato noted her appreciation for the Board and would like to be included early in upcoming budget discussions. She wants the Board to listen to her opinions.
On the motion of W. Mazzucco and the second of J. Dolan, the Board voted unanimously to adjourn the meeting at 9:00 p.m.

Submitted by:
Kristi C. Reilly