TOWN OF GRANBY
BOARD OF FINANCE MEETING
MINUTES OF MAY 14, 2007
PRESENT: Michael Guarco, Chairman; Gordon Bischoff, B. Scott Kuhnly, Frederick Moffa, OD, and Al Wilke.
OTHER ATTENDEES: William F. Smith, Jr., Town Manager; Gwen Van Dorp, Superintendent of Schools; and Harry Traver, BOE Business Manager
Board of Finance Chairman Guarco called the meeting to order at 7:30 p.m.
MINUTES
The Board reviewed several sets of minutes.
ON A MOTION by Gordon Bischoff, seconded by B. Scott Kuhnly, the Board voted unanimously (5-0-0) to approve the special meeting minutes of March 26, 2007 as presented.
ON A MOTION by Gordon Bischoff, seconded by Frederick Moffa, OD, the Board voted unanimously (5-0-0) to approve the public hearing minutes of April 9, 2007 as presented.
ON A MOTION by Gordon Bischoff, seconded by B. Scott Kuhnly, the Board voted unanimously (5-0-0) to approve the special meeting minutes of April 9, 2007 as presented.
ON A MOTION by Gordon Bischoff, seconded by Al Wilke, the Board voted unanimously (5-0-0) to approve the special meeting minutes of April 23, 2007 amending the MOTION starting with the words BE IT FURTHER RESOLVED with the substituted language regarding the mill rate for fiscal year 2007-08 as stated in William F. Smith, Jr., Town Manager, memo dated May 14, 2007 and as follows:
BE IT FURTHER RESOLVED: That the foregoing mill rate having been fixed on the expectation of there being not less than $5,601,849 in Intergovernmental Revenues for the forthcoming Fiscal Year and there being some possibility that Intergovernmental Revenues may be substantially higher than the foregoing expected amount, provided any such additional Intergovernmental Revenues are known by not later than June 6, 2007, and provided further that any such additional Intergovernmental Revenues are not less than $400,000 above the expected amount, then the amount to be raised by property taxes shall be reduced by such additional Intergovernmental Revenues and a new mill rate shall be set by dividing such reduced amount to be raised by property taxes by an assumed Grand List of $809,506,796 rounded to the
nearest hundredth of a mill.
A discussion was held about the money coming from the Town Aid Road (TAR) account and how it would be handled based on the motion made on April 23, 2007. It was determined that the TAR account would not be effected by this amended change in the motion stated above.
STATEMENTS OF ACCOUNTS
Mr. Traver reported on the March Board of Education Statement of Accounts. The budget shows a favorable amount of approximately $250,00o as surplus. He indicated the April Statement of Accounts appears to show a slight increase in the surplus amount, however, a couple of civil rights compliance issues have been identified and will have to be addressed using some of the surplus money. Mr. Traver will look into the Pay for Participation account as a question was asked about the amount received. He noted that the fuel consumption was less than anticipated for this winter, showing a favorable forecast. However, this past winter season was considered a mild one which might be one of the considerations why there is a surplus of money in this account.
A discussion ensued concerning ways of conserving electricity and what programs are being offered to towns and schools. It was noted that the bus contract, after a bid opening, was signed with the bus company, M&J.
The accreditation visit for the schools was discussed in length and a report will be distributed once available. Superintendent Gwen Van Dorp indicated the report will make recommendations for needed storage and athletic fields for the schools.
Town Manager Smith reported on Budget Operations for April 2007. He indicated that tax collection is consistent as history shows from the chart. Revenue for the ECS account is short by approximately $27,000, no money has not been received for School Transportation account, but it is expected to be received sometime in May. Town Manager Smith indicated everything was pretty much as expected with local revenues, except that building permit fees are down and he doubts they will reach their projected goal. Town Clerk fees have exceeded their projected goal and short-term investments are doing very well. These two accounts will make up for the shortfall indicated. On the expenditure side there is no concern except for the request of transfer of accounts which will be dealt with later.
Town Manager Smith also reported on the April flood impact on the town. He indicated that approximately $20,000 in damage has occurred around town roads and at Salmon Brook Park.
He also provided a Surplus and Fund Balance Analysis Preliminary Estimate for 6/30/07 showing a fund balance of $2,474,518 or 6.48% as of May 3, 2007.
CONSIDERATION OF FY 2007 TRANSFER OF ACCOUNTS
For the past several months Town Manager Smith had indicated it was likely a transfer would be needed to cover the rising price of gasoline, heating fuel, and electricity. A total transfer of $55,000 will be taken from the General Maintenance account and transferred to Equipment Maintenance ($10,000) and Building Maintenance and Town Grounds ($45,000).
On a MOTION by B. Scott Kunhly, seconded by Frederick Moffa, OD, the Board voted unanimously (5-0-0) to approve the transfers as presented in a memo dated 5/14/07 from Town Manager Smith and as follows:
Transfer From |
Amount |
Transfer To |
Amount |
Comment |
General Maintenance |
$10,000 |
Equipment Maintenance |
$10,000 |
Gasoline, diesel, and equipment parts |
General Maintenance |
$45,000 |
Building Maintenance and Town Grounds |
$45,000 |
Heating fuel and electricity |
CONFIRM DATE OF NEXT MEETING
Chairman Guarco indicated the next regular meeting date is June 11, 2007. The time and location of the meeting was changed to 7:00 p.m. at Holcomb Farm Learning Centers, Inc. There was some discussion to cancel the regular meetings in July and August.
Town Manager Smith will inform the Board of the Governor’s Budget once it has been finalized.
ADJOURNMENT
ON A MOTION by Al Wilke, seconded by Gordon Bischoff, the Board voted unanimously (5-0-0) to adjourn the meeting at 8:27 p.m.
Respectfully submitted,
Patricia I. Chieski
Recording Secretary
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