BOARD OF FINANCE
NOVEMBER 9, 2010
Page 1 of 2

Attendance: Chairman Janet Brunwin, Sally Huyser, Chip Spear, Stephen Squinto, Robert Brinton Jr., John Grabowski, First Selectwoman Derrylyn Gorski, Tim Connellan

Chairman Brunwin called the meeting of the Board of Finance to order at 7:06 p.m. The meeting was held in the Conference Room of the Bethany Town Hall.

APPROVAL OF MINUTES
Chairman Brunwin called for a motion to approve the minutes of the special meeting of October 5, 2010. The motion was moved by Stephen Squinto and seconded by Chip Spear. The vote taken was unanimous.

Chairman Brunwin moved to approve the minutes of the special meeting of October 22, 2010. Robert Brinton seconded the motion and then moved to amend the minutes by adding the following:

(October 11, 2010)
RESOLVED, that the Board of Finance recommends that the Town of Bethany appropriate $2,085,000 for costs in connection with various road improvement work including milling and paving, catch basin replacement and drainage improvements and curbing, and for costs in connection with the financing of the project. The project is contemplated to include work on all or portions of the following roads, and such other roads as may be determined from time-to-time by the Board of Selectmen: Wooding Hill Road, Perkins Road, Hunters Trail, Crestwood Road, Falcon Lane, Miller Road, Schaffer Road, Clay Road, Knollwood Road, Bethmour Road #1, Bethmour Road #2, Valley Road, Tawney Road, Collins Road and Russell Road. The Board of Selectmen shall determine the scope and particulars of the project and may reduce or modify the scope of the project, and the entire appropriation may be expended on the project as so modified or reduced. The appropriation may be spent for design, construction, materials, equipment, engineering, clerk of the works and other consultant fees, legal fees, net interest on borrowings and other financing costs, and other expenses related to the project or its financing.
FURTHER RESOLVED, that the Board of Finance recommends that the Town of Bethany authorize the issue of $2,085,000 bonds or notes and temporary notes to finance said appropriation.
The vote was called. There were five yes votes. Stephen Squinto abstained as he was absent from that meeting.
The Chairman called for a motion to approve the minutes of the meeting of November 3, 2010. The motion was moved by Robert Brinton Jr. and seconded by Sally Huyser. The vote was called. There were five yes votes and one abstention that of Stephen Squinto as he was absent from that meeting.

ELEMENTARY SCHOOL REPORT – TIM CONNELLAN
Tim Connellan was present to give a financial report to the Board regarding the closing balance for fiscal year 2009-10 for the Elementary School. He also discussed the budget for 2010-11 and the manner in which special education was affecting it. Tim reported that a number of staff members are taking the medical insurance buy out of $2,000 as they have medical insurance coverage through a spouse. There should be a savings in the medical insurance account because of these buy outs. This could perhaps offset some of the excess cost of special education. Sally Huyser suggested that the Board of Education should look the cost of special education to see if there were other programs that could help reduce the cost.

CHAIRMAN’S REPORT
Chairman Brunwin reported on a meeting that she and First Selectwoman Gorski had attended at the office of Marian Company LLC our auditors. They addressed budgeting and the impact that reduced State Aid could have on the budgets of towns and cities in the State of Connecticut.

Chairman Brunwin attended the Amity Financial meeting. At this meeting they had indicated the enrollment figures as of October 1, 2010 show the number of Bethany students attending Amity has decreased again for the second year. This will again lower the percentage that Bethany will pay to the Regional system. They also reported that there will be a surplus for this fiscal year.

FIRST SELECTWOMAN GORSKI’S REPORT
First Selectwoman Gorski reported that there was only one bid from a fund raising company for the Airport Hanger. When First Selectwoman Gorski did a reference check the company had only written grants but never did fund raising. The bid was tabled at this time. The Committee is looking at the possibility of a local person with experience in this type of fund raising to guide the committee.

The Highway Department has started the road repair as approved at the recent Town Meeting. Falcon and Crestwood Roads are the first on the list for repair.

BUDGET REPORTS FISCAL YEAR 2010-11
The Board reviewed the financial reports for fiscal year 2010-11. No problem areas were noted at this time.

ADJOURNMENT
Adjournment was called at 8:15 p.m. after a motion was moved by Chip Spear and seconded by Stephen Squinto. The vote taken was unanimous.


Respectfully submitted,


June G. Riley
Clerk, Board of Finance