BOARD OF FINANCE
JUNE 8, 2010
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Attendance: Chairman Janet Brunwin, Stephen Squinto, Chip Spear, Robert Brinton Jr., Sally Huyser joined the meeting at 7:20 p.m., John Grabowski joined the meeting at 7:25 p.m., First Selectwoman Derrylyn Gorski
Chairman Brunwin called the meeting of the Board of Finance to order at 7:00 p.m. The meeting was held in the Conference Room of the Bethany Town Hall.
ADDITION TO AGENDA
Chairman Brunwin called for a motion to add approval of the minutes of April 20, 2010 to the agenda of this meeting. The motion was moved by Stephen Squinto and seconded by Chip Spear. The motion received a unanimous vote of approval.
APPROVAL OF MINUTES
Chairman Brunwin called for a motion to approve the minutes of the meeting of April 20, 2010. The motion was moved by Robert Brinton Jr. and seconded the Chip Spear. The vote was called. There were three votes of approval and one abstention that of Stephen Squinto, as he was absent from that meeting.
Chairman Brunwin called for a motion to approve the minutes of the meeting of May 18, 2010. The motion of approval was moved by Stephen Squinto and seconded by Chip Spear. There were not changes to the minutes. The minutes were then accepted on a unanimous vote.
Chairman Brunwin relayed the information she had received from Moody’s, where a re-calculation of the bond rating for Bethany has been done. The rating has now been raised to a double A2 rating from a double A rating.
In the absence of John Grabowski, Chairman Brunwin reported that Head Master Mary Frederico has resigned, to take a principal position in North Haven. Discussion was opened regarding not filling this position. All Board of Finance members present agreed they would communicate with Board of Education members, encouraging them not to fill this position until a real need has been established.
REPORT OF FIRST SELECTWOMAN GORSKI
First Selectwoman Gorski reported that the Town employee medical plan change is moving ahead with the HSA and HRA employee sign ups.
First Selectwoman Gorski reported that a $400 assessment for the MERS retirement plan for the Highway Department Union employees was requested from the Town in a letter dated June 1, 2010 from the State of Connecticut . This letter also indicated that the Town’s contribution will be increased from 7.5% of gross salary to 9.5% of gross salary. The percentage of 2.25% that the employee pays has not been increased.
Chip Spear has been formulating into a spread sheet, the information gathered from the trip taken by Board of Finance and Board of Selectmen members for road inspection. From this spread sheet a calculation will be done to determine total cost of repair. The Town will then consider bonding for the total cost of road repair, with pay back to be spread out over either a seven or ten year period. A Public Hearing will be held to discuss feasibility and length of bonding.
BUDGET REPORT 2009-10
The Board reviewed the financial report for the 2009-10 fiscal year. No trouble areas were noted at this time.
SUMMER MEETING SCHEDULE
Board members determined that a July meeting of the Board of Finance will be held, however unless there is something of importance to discuss the August meeting will be canceled as several of the members will be away.
Adjournment was called at 7:45 p.m. after a motion was moved by Robert Brinton Jr. and seconded by Chip Spear.
June G. Riley
Clerk, Board of Finance