Board of Finance Minutes 09/13/04
TOWN OF GRANBY
BOARD OF FINANCE MEETING
MINUTES OF SEPTEMBER 13, 2004
PRESENT: Michael Guarco, Chairman; Francis Brady, and Al Wilke
OTHER ATTENDEES: Barbarjean Scibelli, Administration Finance Officer; and Cal Heminway, BOE Chairman
Board of Finance Chairman Guarco called the meeting to order at 7:30 p.m. There was no quorum present; therefore these minutes represent discussions that took place.
MINUTES
No action could be taken on the minutes from previous meetings due to the lack of a quorum. The minutes will be taken up at the next meeting where there is a quorum.
STATEMENTS OF ACCOUNTS
Barbarajean Scibelli, Administration Finance Officer, reviewed the August Budget Operations Report and responded to questions raised by the Board regarding auto supplement and Cops Fast Grant. The tax collections are on target. Local revenues and expenditures are doing well for the beginning of the fiscal year.
Ms. Scibelli indicated the audit is progressing for 2004 and the fund balance is expected to be around 5%. This is the second year for implementing the GASB 34 format.
BOE Chairman Heminway indicated the Board of Education Financial Statement for August has no real surprises, although no report was available to be distributed. He also reported the long term rental with a local church is in negotiations for a 2-year agreement.
REVENUE PROJECTIONS FOR FISCAL YEAR 2004-2005
It appears we may receive additional money from the state, more than was budgeted for 2005 according to the final budget from the state. The Town Aid Road (TAR) fund dollar amounts are reported as gross numbers. The fund balance is about $21,000 less because there was a deficit at the end of 2003.
DISCUSSION OF ADDITIONAL FUNDING FOR SILVER STREET BRIDGE REPAIRS
Ms. Scibelli indicated the Board of Selectmen did not take action on this matter at their last meeting. It will be brought up again for consideration once proposals have been received. Ms. Scibelli commented the bridge was safe to use but it was determined that a much more serious condition existed.
VARIOUS COMMITTEE UPDATES FROM BOARDMEMBERS
Chairman Guarco reported on several committees. These were:
· Teachers’ contract is in negotiations;
· Lindberg & Ripple, Insurance Consultants, are looking at alternatives regarding health benefits for the teachers;
· Capital Program Priority Advisory Committee updated the financial model showing anticipated numbers and new information will be requested from the boards; and
· The Chairs for BOE, BOS and BOF have been meeting with other representatives from COST, CCM, CABE, CREC, and CRCOG regarding excess special education costs, binding arbitration, and prevailing wage.
Al Wilke reported on the Intratown Cooperative Advisory Committee. On July 15, 2004 Town Manager Smith arranged for a field trip to see others towns (Plainville and East Hampton) operated town and school grounds maintenance and finance. Town Manager Smith is working on a proposal agreement between town and school for grounds maintenance. Superintendent Gwen Van Dorp is heading up a task force for developing a technology study including the town and schools.
CONFIRM DATE OF NEXT MEETING
The next regular Board of Finance meeting on October 12, 2004 will be rescheduled to Monday, October 18, 2004 because of the holiday.
ADJOURNMENT
The meeting was adjourned at 8:20 p.m.
Respectfully submitted,
Patricia I. Chieski
Recording Secretary
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