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Minutes of Board of Finance, 01/22/2018

AGENDA: Board of Finance

RECEIVED 01/25/2018 9:15am
Kathleen R. Miserendino - Redding Deputy Town Clerk

Board of Finance
Monday, January 22, 2018
7:30 p.m., Town Hall Hearing Room

Present: Dr. Kimberley Yonkers, Chair; Ward Mazzucco; Susan Clark; Robert Dean; James Barickman; Edward Miller, seated at 7:33 p.m.

Also present: Steve Gniadek, Finance Director at 8:26 p.m.; Pat Moisio, Tax Collector; Janice Meehan, Treasurer; Wes Higgins, Deputy Treasurer; Katherine Stauffer, Assistant Tax Clerk; members of the public; videographers.

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

1.      To approve Minutes of Regular Meeting held on December 12, 2017 and Special Meetings held on December 12, 2017 and December 18, 2017.
On the motion of Mr. Mazzucco and the second of Mr. Barickman, the Board voted unanimously to approve the 12/18/17 Regular Meeting Minutes as corrected:  Minutes of 12/12/17, seventh paragraph under “2. CAFR Audit Draft”, third line, change “auestions” to “questions”.
On the motion of Mr. Dean and the second of Mr. Mazzucco, the Board voted to approve the 12/12/17 and 12/18/17 Special Meeting Minutes.  Mr. Barickman abstained as to the approval of the 12/12/17 Minutes.

2.      Public Comment
No items.

3.      Tax Collector’s Report
Pat Moisio reported on the collection of $8.5 million representing 72.7% of budget.  She noted the influx of payments as a result of recent tax changes and the probable overpayments which will necessitate refunds.  A more accurate number will be calculated at the end of the month.
The addition of 1516 supplemental motor vehicles has added tax revenue of $415,000. GLDC has a balance of $4 million, half of which is tax and the other half interest. K. Stauffer reported on payments owed to WPCC by GLDC.
Possible methods of tax refunds were discussed.  Mr. Barickman questioned if the Town can benefit from the increase in tax flow.  P. Moisio reviewed when a 1099 form is utilized, when making a refund, but stated that refunds will be determined after the State Statute outlines how overpayments should be processed.

4.      Finance Director’s Report
Steve Gniadek reported that CAFR was filed prior to the statutory deadline and submitted to GFOA for consideration of attaining a certificate of excellence.|
The Selectmen’s Budget Workshop was held on 1/5/18.  Mr. Gniadek suggested that the Board consider a transfer from the Debt Service Fund to cover the year-to-year increase in Bond Premium.
A motion to approve the transfer was made but then tabled pending final review of the Selectmen’s budget and further review of the debt service schedule.
Mr. Gniadek discussed healthcare costs and the impact on the Town as well as potential options.  Negotiations re: different plans and deductibles will continue.
A bid for engineering services related to design of the Station Road Bridge was posted.
A list of contractors used for maintenance at Town facilities is being compiled. The BOE will put together a similar list with the goal of cost savings.
The May 1, 2018 Budget Referendum has been changed to May 8, 2018.

5.      Treasurer’s Report
Deputy Treasurer Wes Higgins reviewed the Treasurer’s Report as submitted. The Chair complimented him on the clarify of his reports.

6.      Schools Budget Update
Susan Clark stated that the additional financial information from the Board of Education has provided more clarity.  Dr. Yonkers stated that the reports on finances for the Board of Education had been created all along but had not been disseminated to the Board of Finance. Dr. McMorran has agreed to resume the distribution to Board of Finance members the information that goes to Board of Education members right before their meetings.
After a brief interruption to change meeting rooms at 7:47, the Board reconvened at 7:50 p.m.
Mr. Mazzucco reported on the 1/18/18 BOF Subcommittee meeting with Scott Reiss and the auditor, Joe Centofanti, to discuss the timetable for finalizing the report on Board of Education financial procedures. Mr. Reiss has delivered some items but requested additional time to collect requested information  Meanwhile, Mr. Centofanti has not been able to obtain certain work papers from the town’s auditor, Scott Bassett. The Chair offered to follow up with Mr. Bassett. She also pointed out that Mr. Reiss did not consider Mr. Centofanti’s request burdensome. Rather, Mr. Reiss said that, in the months since the request has been pending, his staff has been busy with higher priorities. Mr. Centofanti will analyze the needed information and submit his report form to the Board of Finance for review.
Mr. Mazzucco noted receipt of a Prowda report re: enrollment.  The report will be forwarded to Mr. Gniadek who will forward to Board members.

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

8.      Correspondence and Administrative matters
Mr. Dean asked where to access the meeting schedule.  Dr. Yonkers stated that the Town Website has the up to date schedule.

9.      Public Comment
No items.

On the motion of Ms. Clark and the second of Mr. Mazzucco, the Board voted unanimously to adjourn the meeting at 8:26 p.m.

Submitted by:
Kristi C. Reilly