These minutes are for informational purposes only. For official minutes please contact the Town Clerk's Office.

APRIL 12, 2000

SPECIAL MEETING

1. CALL TO ORDER

Paul Henault, Chairman, called the Special Meeting of the Board of Finance to order at 7:07 a.m. in the Main Meeting Room of the Simsbury Town Offices. The following members were present: James Belfiore, Peter Askham, Candace Fitzpatrick, Michael Wade and Mary Glassman. Also present were Kevin Kane, Finance Director, Joseph Townsley, Superintendent of Schools, Mary Margaret Girgenti, BOE Chairman, and other interested parties.

2. APPROVE MINUTES

03/02/00 Regular Meeting

Ms. Fitzpatrick moved to approve the minutes of the March 2, 2000 Regular Meeting. The motion was seconded by Mr. Belfiore and carried unanimously.

03/15/00 Special Meeting

Ms. Fitzpatrick moved to approve the minutes of the March 15, 2000 Special Meeting. The motion was seconded by Mr. Askham and carried unanimously, with Ms. Glassman abstaining.

03/15/00 Public Hearing

Ms. Fitzpatrick moved to approve the minutes of the March 15, 2000 Public Hearing. The motion was seconded by Mr. Askham and carried unanimously, with Ms. Fitzpatrick and Ms. Glassman abstaining.

03/21/00 Regular Meeting

Ms. Fitzpatrick moved to approve the minutes of the March 21, 2000 Regular Meeting. The motion was seconded by Mr. Belfiore and carried unanimously.

04/05/00 Public Hearing

Ms. Fitzpatrick moved to approve the minutes of the April 5, 2000 Public Hearing. The motion was seconded by Mr. Belfiore and carried unanimously, with Ms. Glassman abstaining.

04/05/00 Special Meeting

Ms. Fitzpatrick moved to approve the minutes of the April 5, 2000 Special Meeting. The motion was seconded by Mr. Belfiore and carried unanimously, with Ms. Glassman abstaining.

3. ACTION ON PROPOSED 2000/02 OPERATING BUDGETS

Debt Retirement
Board of Education
Non-Public Schools
Capital & Nonrecurring

Ms. Girgenti stated that the BOE has reduced their budget by $421,645 to an amount of $39,715,711. She noted that this is a 9.5% budget increase instead of 10.68%. Chairman Henault questioned what items were eliminated from the budget. Ms. Girgenti stated that no programs were eliminated and cuts were made across the board. Dr. Townsley noted that $160,00 was moved into CNR for instruction equipment for classrooms. He pointed out that this budget is making up for the unanticipated 120 additional students this year.

Chairman Henault stated that with a $400,000 decrease in the budget, the use of $400,000 of surplus, a 98% collection rate, and a Grand List growth of 2.5% the increase in taxes would be 6.17%. Ms. Fitzpatrick questioned the tax increase with the use of $200,000 of surplus. Chairman Henault stated that the increase would be 6.71 %. Ms. Fitzpatrick stated that she would consider using $200,000 of surplus if the difference in the tax increase is only .6%.

In response to Chairman Henault, Mr. Kane stated that last year revenues increased $1.2 million and this year he anticipates $1 million in revenues. He stated that 8% of reserves is desireable. Mr. Kane explained that 8% of a $56 million budget is $4.5 million. He noted that currently they have $4.1 million in the undesignated fund balance and with the addition of revenues they will have $5.1 million. He stated that if they utilize 1% that is $500,000 and an additional $400,000 of surplus will bring them to $4.2 million in reserves.

Ms. Glassman moved to approve the Debt Retirement Budget, in the amount of $3,890,940. The motion was seconded by Ms. Fitzpatrick and carried unanimously.

Mr. Askham moved to approve the Board of Education Budget, in the amount of $39,715,71 1. The motion was seconded by Ms. Fitzpatrick and carried unanimously.

Ms. Glassman moved to approve the Non-Public Schools Budget, in the amount of $284,945. The motion was seconded by Mr. Wade and carried unanimously.

Ms. Fitzpatrick moved to approve the Capital and Nonrecurring Budget, in the amount of $955,618. The motion was seconded by Ms. Glassman and carried unanimously.

4. BUDGET TRANSFER REQUEST FROM RESERVES

Meadowood Legal Counsel

Mr. Wade recused himself from voting on this matter.

Ms. Fitzpatrick questioned whether the Town has funding available in their legal account. Mr. Kane stated that the Town budget for legal expenses will be over-expended this year. Mr. Askham questioned the amount of the application fees for Meadowood. Mr. Kane stated that he would have to check, but revenues for land use have increased. Ms. Glassman requested information from the Planning Department on the projected expenditure for the rest of this project. Mr. Askham questioned how this project is being managed and whether the Town went out to bid to choose legal counsel. Ms. Glassman requested that the Planning Department add the request for a Fiscal Impact Study to the projected expenditures for unbudgeted items.

Ms. Fitzpatrick moved to transfer $200,000 from Reserves for Meadowood legal counsel, as requested by the Board of Selectmen. The motion was seconded by Ms. Glassman.

Mr. Askham stated that he assumes the Town has received an accounting of the legal fees. Mr. Kane confirmed that the Town has received detailed bills. Ms. Fitzpatrick suggested that the BOF only approve what has been billed thus far. Ms. Glassman noted that this would give the BOF an opportunity to receive the requested information. Mr. Belfiore questioned who is monitoring the legal expenses. Mr. Kane stated that it is being handled through the First Selectman.

Ms. Fitzpatrick withdrew her motion. Ms. Glassman withdrew her second.

Ms. Glassman moved to approve the transfer of $139,000 from Reserves for the Meadowood project. The motion was seconded by Ms. Fitzpatrick and carried unanimously, with Mr. Wade abstaining.

5. ADJOURNMENT

Mr. Wade moved to adjourn the meeting at 7:38 a.m. The motion was seconded by Ms. Glassman and carried unanimously.