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Minutes of Board of Finance, 05/08/2018

AGENDA: Board of Finance

RECEIVED 05/15/2018 4:13pm
Michele R. Grande – Redding Town Clerk

Board of Finance
Tuesday, May 8, 2018
7:30 p.m., Town Hall Hearing Room

Present: Dr. Kim Yonkers, Chair; Ward Mazzucco; Susan Clark; Robert Dean; Jamie Barickman; Edward Miller.

Also present: Steve Gniadek, Finance Director; Pat Moisio, Tax Collector; Margaret O’Donnell, Selectwoman; Colleen Pilato, member Board of Education; Julia Pemberton, First Selectwoman, at approximately 7:50 p.m; members of the public.

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

1. To consider the Mil Rate for the ensuing fiscal year.

Since the votes on the Redding and Region 9 budgets have not yet been tallied, the Board considered setting a mil rate, contingent upon an approval of both budgets.

While the Board was discussing the issue, the voting results became available, so the Board recessed briefly to observe the results.

The voters rejected the Redding budget 1330 to 808 and the Region 9 budget 1276 to 854. Some members considered the vote a decisive rejection of additional spending. Other members considered the vote the result of misinformation.

2. Fund Balance/Debt Service Account

The Board voted unanimously not to apply any of the fund balance to reduce the eventual mil rate for the upcoming fiscal year. Board members also recognized that such a decision could be reconsidered later.

The Board also considered whether to use any of the debt service account to reduce the eventual mil rate. Board members felt it was not necessary to reach a conclusion at this time.

3. Advice to Boards

Board members felt that the Board of Selectman budget was already lean, so they did not anticipate much of a reduction, although Ms. Pemberton vowed to consider reductions.

Ms. Clark suggested that the two boards of education consider at least a one percentage point reduction in each of their budgets.

On the motion of Ms. Clark and the second of Mr. Mazzucco, the Board voted unanimously to adjourn the meeting at 9:55 p.m.

Submitted by,

Ward J. Mazzucco,
Acting Secretary