Town of Redding
Board of Finance Minutes
Regular Meeting
Monday, 11/22/2021
7:30PM via Zoom
Filed subject to approval.
Present:
Dr. Kimberly Yonkers, Chair
Ward Mazzucco, Vice Chair
Jamie Barickman
Rob Dean
Jenifer Wyss
Karen Gifford
Also Present:
Steve Gniadek, Finance Director
Wes Higgins, Treasurer
Members of the Public
Chair Yonkers called the meeting to order at 7:31PM.
1. Elect Chairperson and Vice Chairperson
MOTION:
Vice Chair Mazzucco made a motion to nominate Dr. Kimberly Yonkers as the chair of the BOF. Ms. Wyss seconded the motion. Discussion followed. There were five yes votes (Mazzucco, Wyss, Dean, Gifford, and Yonkers) and one abstention (Barickman). The motion carried.
MOTION:
Ms. Gifford made a motion to nominate Ward Mazzucco as the Vice Chair of the BOF. Ms. Wyss seconded the motion. There were 5 yes votes (Mazzucco, Wyss, Yonkers, Dean, and Gifford) and one abstention (Barickman). The motion carried.
2. To approve the minutes of BOF Meeting held on October 25, 2021
MOTION:
Vice Chair Mazzucco made a motion to approve the minutes of the BOF Meeting held on Monday, 10/25/2021. Ms. Wyss seconded the motion. There were five yes votes (Yonkers, Mazzucco, Wyss, Dean, and Barickman) and one abstention (Gifford).
3. Public Comment
Chair Yonkers opened the floor to Public Comment.
There was no Public Comment.
4. 2022 BOF Meeting Calendar
The BOF discussed changing the joint meeting with the BOE and BOS concerning budget drivers to a different date.
MOTION:
Vice Chair Mazzucco made a motion to adopt the 2022 BOF Meeting Calendar as is. Mr. Barickman seconded the motion. The vote was unanimous, and the motion carried.
The 2022 Meeting Calendar is as follows:
Monday, January 24
Monday, February 28
Tuesday, March 22 (Budget – Community Center)
Monday, March 28
Monday, April 4 (Budget – if needed)
Monday, April 11 (Budget – If needed)
Monday, April 25
Tuesday, May 3 (to set Tax Rate – Community Center)
Monday, May 23
Monday, June 27
Monday, July 25
Monday, August 22
Monday, September 19
Monday, October 24
Monday, November 28
Tuesday, December 20 (with BOE and BOS – Community Center)
Note: All meetings at 7:30PM at Town Hall Hearing Room unless otherwise noted above
5. Finance Director’s Report
Steve Gniadek addressed the BOF.
There was a cybersecurity workshop on Tuesday, 11/2/2021. 14 people attended this workshop. The recording of this session is now available to view.
The Council of Small Towns (COST) hosted a separate cybersecurity workshop. This focused more on the services available to address various cybersecurity issues.
A meeting was scheduled with the new Region 9 Superintendent, Finance Director for Region 9, and Wes Higgins. This meeting was cancelled and will be rescheduled.
The Tropical Storm Isaias FEMA submission has been completed. The Town is waiting on review of the submission. The net reimbursement will be approximately $170k.
Covid-19 reimbursement is still ongoing.
The FY 2020-2021 audit is still ongoing. There are several information requests that have not been completed yet. The Town of Redding has applied for a 30-day audit extension so that the Audit can be completed. The deadline is now 12/31/2021.
6. Treasurer’s Report
Wes Higgins addressed the BOF.
The Town of Redding has operating funds of $25,786,232. This is just under $3 million ahead of October 2020.
Interest income remains meager. Some money has been shifted to the longer-term treasury portfolio because their interest rates are higher than other options.
Mr. Higgins suggested the long-range planning committee should have a meeting.
7. Budget Transfers – line item
Vice Chair Mazzucco asked the BOF for permission to develop a solution for this topic with Rob Dean. He stated that at the next BOF meeting, this work will prove helpful.
8. American Rescue Plan (ARP) Task Force
First Selectwoman Julia Pemberton addressed the BOF.
First Selectwoman Pemberton suggested the creation of an ad hoc committee to discuss uses for the ARP money. Discussion followed concerning the details of this committee and possible uses for the money.
Vice Chair Mazzucco and Ms. Gifford volunteered to be part of the ARP Task Force.
9. Other business
There was no other business to address.
10. Public Comment
Chair Yonkers opened the floor to Public Comment.
Michael Thompson, Selectman, suggested that a member of the Mark Twain Library could sit on the ARP Task force.
MOTION:
Vice Chair Mazzucco made a motion to adjourn the meeting. Ms. Gifford seconded the motion. The vote was unanimous, and the motion carried.
The meeting was adjourned at 8:24PM.
Submitted by,
Zachary Smith