TOWN OF GRANBY
BOARD OF FINANCE
SPECIAL MEETING
APRIL 23, 2007
PRESENT: Michael Guarco, Chairman; Gordon Bischoff, Francis Brady, Frederick Moffa, OD; and Al Wilke
Chairman Guarco confirming a quorum called the special meeting to order at 9:49 p.m.
ESTABLISH MILL RATE FOR FISCAL YEAR 2007-08
Michael Guarco made a MOTION as follows:
2007-08 RESOLUTION FOR MILL RATE
WHEREAS The Town Meeting has adopted an Annual Budget for the 2007-08 Fiscal Year on April 23, 2007, as proposed by the Board of Finance; and
WHEREAS This Budget includes appropriations from the General Fund, Dog Fund, Cossitt Library Fund, Local Capital Improvement Program Fund, Capital Equipment/Improvement Fund, Town Aid Road Fund, Sewer Fund, Education Quality & Diversity Fund, Recreation Events Fund, and Other Funds; and
WHEREAS This Budget includes an expenditure amount for the Board of Selectmen of $13,071,127 and an expenditure amount for the Board of Education of $25,125,524 for a total Town Budget of $38,196,651; and
WHEREAS Anticipated revenues excluding taxes levied for the 2007-08 Fiscal Year amount to $9,078,852,
NOW THEREFORE BE IT RESOLVED, That the Board of Finance set a mill rate of 35.97 to raise an estimated $29,117,799 in property taxes for the 2007-08 Fiscal Year; and
BE IT FURTHER RESOLVED, That conditional upon the Intergovernmental Revenues assumption of $5,601,849, and provided that the actual net increase from the State of Connecticut is approved by the legislature by June 6, 2007 and is $400,000 or greater, the Board of Finance adjusts the 2007-08 mill rate down by the total increase. (For example, an increase of $810,000 would adjust the mill rate of 35.97 down by 2.8% to a .95% increase or a 35.00 mill rate.)
Francis Brady seconded the motion, the Board voted unanimously to approve (5-0-0).
The resolution was approved with the understanding that the resolution language will be reviewed by the Town Attorney and members of the Board, noting that the intent of the Board will be retained if stylistic, legal changes are made.
ADJOURNMENT
ON A MOTION by Gordon Bischoff, seconded by Frederick Moffa, the Board voted unanimously (5-0-0) to adjourn the meeting at 10:05 p.m.
Respectfully submitted,
Susan Christian
Acting Recording Secretary
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