Board of Finance Minutes 11/14/05
TOWN OF GRANBY
BOARD OF FINANCE
REGULAR MEETING
NOVEMBER 14, 2005
PRESENT: Michael Guarco, Chairman; Gordon Bischoff, Francis Brady, Frederick Moffa, OD, and Al Wilke
OTHER ATTENDEES: William F. Smith, Jr., Town Manager; Barbarajean C. Scibelli, Administration Finance Officer; and Mark Neumann, Board of Selectmen
Michael Guarco, Chairman, called the meeting to order at 7:30 p.m.
MINUTES
The Board reviewed the minutes of October 17, 2005. ON A MOTION by Gordon Bischoff, seconded by Al Wilke, the Board voted unanimously (5-0-0) to approve the minutes as presented.
STATEMENT OF ACCOUNTS
Barbarajean Scibelli provided highlights of the Budget Operations report for October 2005. She indicated the tax collections are on target; approximately 55% of taxes have been collected. Other revenues and expenditures are on track. Mrs. Scibelli commented that fuel oil, gas, and electricity accounts are being watched because fuel prices are up and the winter storm season is approaching.
Chairman Guarco indicated that Town Clerk fees are still coming in at a good rate. Mrs. Scibelli reported that the office is still steady and the additional conveyance tax helps. In response to a question from Chairman Guarco, Mrs. Scibelli indicated the short-term investment interest rate was averaging 3%.
A discussed was held regarding the fundamentals and mechanisms set up for the Board of Education Wage Settlement/Severance Fund. The Board of Finance desires to see that an appropriation process be put in place involving the Board of Finance. Town Manager Smith will review the resolution concerning this fund and will follow up with Chairman Guarco with his findings.
CONSIDERATION OF PLUS-ONE BUDGET AND DISCUSSION ON FISCAL 2007
Town Manager Smith reviewed the Plus-One Budget for 2006-07. Outlined in the memo, the Plus-One budget does not represent all final needs of the town that may be incorporated into the 2006-07 Budget, salaries and contract adjustments are only estimates, and adjustments of less than $5,000 are optional. Some of the items were wages and salaries, fringe benefits, staffing, property assessment, fire department, school resource officer, snow removal, solid waste & recycling, gasoline, diesel, parts, and heating oil.
The information was reviewed and clarifications were made due to the complexity of the document. In response to a question, Mr. Smith indicated that the Board of Selectmen endorse the Plus 1 budget but realize that priorities have to be set and not all items will be funded.
OTHER
Chairman Guarco reported that a letter was sent out to our state senator and representatives from Board of Education Chairman Heminway inviting them to their December 14th meeting.
CONFIRM DATE OF NEXT MEETING
The next regular meeting will be on December 12, 2005 at 7:30 p.m., at the Police Department Community Room. The tentative agenda for this meeting is the auditor's report, Plus-One Budget for the school, and bridgework update.
ADJOURNEMENT
ON A MOTION by Francis Brady, seconded by Al Wilke, the Board voted unanimously (5-0-0) to adjourn the meeting at 8:30 p.m.
Respectfully submitted,
Patricia I. Chieski
Recording Secretary
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