BOARD OF FINANCE
REGULAR MEETING
MONDAY, FEBRUARY 25, 2019
7:30PM
TOWN HALL MEETING ROOM
Filed Subject to Approval
PRESENT:
Dr. Kim Yonkers, Chair; Rob Dean; Susan Clark; Jamie Barickman; Ed Miller; Ward Mazzucco (arrived at 7:35PM)
ALSO PRESENT:
Katherine Stauffer, Tax Collector’s Office; Steve Gniadek, Finance Director; Wes Higgins, Treasurer; First Selectwoman Pemberton; Members of the public
Chair Yonkers called the meeting to order at 7:30PM
1. TO APPROVE THE MINUTES OF THE REGULAR MEETING HELD ON JANUARY 28, 2019.
Chair Yonkers made a clarification that the minutes that are submitted are provisional until approved at a BOF meeting.
MOTION:
Mr. Miller made a motion to approve the minutes of the regular meeting on Monday, January 28, 2019. Ms. Clark seconded the motion. There were five yes votes (Yonkers, Dean, Clark, Barickman, and Miller). Mr. Mazzucco was absent at the time of this vote. The motion carried.
2. PUBLIC COMMENT
Chair Yonkers opened up the floor for public comment. There was no public comment.
3. GRAND LIST OCT 1, 2018
John Ford, Assessor for the Town of Redding, addressed the BOF about the Grand List.
Mr. Ford stated that year to year there has been a 0.029% increase in the total value of the grand list.
Ms. Clark asked Mr. Ford about the elderly benefit Grand List. She stated that the change to it is significant. Mr. Ford stated that the value of the homes of residents who are eligible for the benefit have gone down reducing the benefit going to those homes.
Mr. Dean asked Mr. Ford why the overall Grand List for elderly benefits decreased by 5% and the percentage of exemptions has dropped by 46%. Mr. Ford said that many things (eg. VA Benefits) have changed, affecting the overall percentage of exemptions, but primarily due to the Veterans Exemption.
4. TAX COLLECTOR’S REPORT
Ms. Stauffer addressed the BOF in place of Pat Moisio.
Ms. Stauffer said that as of Monday, February 25, 2019, 99.1% of taxes for FY 2019 have been collected. This amounts to $46,612,048. She said that with interest and fees, $46,665,868 have been collected
Ms. Stauffer said that for prior year taxes, $478,000 have been collected.
Ms. Stauffer said that delinquent statements and demand notices for liens that will be applied on April 1st have been sent out. She said that the tax sale will begin on May 1st for six properties.
Ms. Stauffer said all the accounts have been recovered from the American Recovery Group. She said that by July 1st, the Tax Collector’s office hopes to have a new collection agency.
5. FINANCE DIRECTOR’S REPORT
Mr. Gniadek asked RSM to extend the current contract for the FY 2019 audit. He said that RSM agreed to extend their contract without any increase in the audit fee.
Mr. Gniadek said the BOS will address the telecommunications upgrade for Fire Districts at their next meeting. First Selectwoman Pemberton said that this will be addressed as a public hearing when the Selectmen’s budget is presented to the BOF.
Mr. Gniadek said the Selectmen’s budget will be discussed and approved this week.
Mr. Gniadek said that legal notices can now be published in the Ridgefield Press. He said their rate for legal notices is closer to what the Redding Pilot charged. The Danbury News Times rate was far more expensive.
Ms. Clark asked about the readership of the Ridgefield Press. First Selectwoman Pemberton said that getting readership statistics is difficult. Ms. Clark said that it is important that legal notices are published in outlets that Redding Residents are looking at.
Mr. Mazzucco stated that it is important for the town to be transparent and to publish legal notices in the best manner possible.
Chair Yonkers asked about publishing legal notices at the Mark Twain Library and other public areas (eg. Recreation center, schools) which would reach many who read neither the Danbury News Times nor the Ridgefield Press. First Selectwoman Pemberton said this could be a possibility.
Mr. Dean asked why the Pennysaver is not being used. First Selectwoman Pemberton said that the Pennysaver has gone out of business.
Mr. Barickman asked First Selectwoman Pemberton and Mr. Gniadek if there are legal statutes concerning legal notices. First Selectwoman Pemberton said that there are specific statutes addressing various legal notices.
First Selectwoman Pemberton stated that there are bills in the state legislature to allow for digital legal notices, like posting legal notices on the Town website.
Mr. Dean said that most people who look at legal notices generally look online, but a physical publication is a statute that must be met. Mr. Mazzucco said that there is legal precedent in taking towns to court over legal notices and failing to publish them. Mr. Dean said that the Town should be conscious of process and the legal ramifications of not following it.
Mr. Gniadek said he spoke to Mr. Centofanti about the BOE audit. He said that Tuesday, 3/5/2019 will be the last formal visit of Mr. Centofanti with the BOE before the official publishing of the audit. He said the report will be available before the next BOF meeting.
Mr. Gniadek said he went to the CCM presentation at the most recent GFOA meeting. He said the presentation discussed the Governor’s budget and its implications to municipalities.
Mr. Gniadek said the first item of interest is the CMERS policy change, which will result in an increase of $118,000. He said that there are recommendations to set up an additional tier in the pension for new employees. He also said that there is a recommendation to increase employee contributions to lighten the burden on municipalities.
Mr. Gniadek said the State wants towns to make the annual contribution to the Teacher’s pension. This amounts to $186,463 for Redding.
Mr. Gniadek distributed a report concerning possible upcoming legislation. Mr. Gniadek discussed regionalization of assessors and tax collectors as well as repatriation of sales tax revenue to towns that are contiguous to retail centers.
Mr. Miller asked how the Teacher’s Pension was funded prior to this change. Mr. Gniadek said the state funded this 100%.
Mr. Gniadek provide a Region 9 budget summary page. He said there is a $35,000 reduction in total. The Redding portion will increase by $547,000 due to the increased share of total student population.
Mr. Gniadek shared a document called the Municipal Financial Indicators report from the Governor. He said that it has some useful information for the BOF.
Mr. Barickman stated that the BOE should be made aware of the change to the Teacher’s Pension. Mr. Gniadek said he will communicate this.
6. TREASURER’S REPORT
Mr. Higgins addressed the BOF.
Mr. Higgins said that the January 31, 2019 cash balances are demonstrated in the report.
Mr. Higgins said the cash balance is $1,000,000 below last fiscal year. Ms. Stauffer responded by saying that the Town is up to date with tax collections now.
Mr. Higgins said that Treasury bills matured in January. He said that four new positions have been invested in for March, April, May, and June.
Mr. Higgins said that interest Income YTD is $214,000.
Mr. Higgins said the current interest rate outlook is stable.
7. REPORTS FROM INDIVIDUAL BOARD MEMBERS AS ASSIGNED
There were no reports from individual board members.
8. CORRESPONDENCE AND ADMINISTRATIVE MATTERS
There were no correspondence and administrative matters to discuss.
9. PUBLIC COMMENT
Chair Yonkers opened the floor to public comment. There was no public comment.
10. EXECUTIVE SESSION TO UPDATE STATUS OF LEGAL PROCEEDINGS ON ASSESSMENT APPEALS, AND PENDING LITIGATION WITH GLDC
Chair Yonkers adjourned for executive session at 8:12PM.
Chair Yonkers adjourned executive session and ended the meeting at 9:21PM.
Submitted by,
Zachary Smith