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BOARD
OF FINANCE Present: James Francis, Keith Crehan, Campbell Hudson, Joel Marzi, Fred Vollono. James Francis called the meeting to order at 7:28 pm. Others present: Treasurer Robert Dixon, Selectman Norman Needleman Approval of Agenda Motion was made by Keith Crehan to approve the agenda. Joel Marzi seconded the motion and it was unanimously approved. Motion carried. Approval of Minutes Motion was made by Campbell Hudson to approve the February 15, 2007 minutes with two corrections, page one under Treasurer's Report, second line should read "side" not "sign" and page two under Bio-Diesel Fuel Highway Department Vehicles, third sentence should read "The State has a contract with East River Energy for B-20 for which we are eligible". Joel Marzi seconded the motion and it was unanimously approved. Motion carried. Treasurer's Report: A.
February Year-to-Date Update and Robert Dixon reported that he had received a call from Mary Louise Polo indicating that the Essex Elementary School Board of Education would be able to absorb the $32,725 in retroactive wage payment for the recently negotiated contract inasmuch as they had an offset of $34,000 in a wage account. Mr. Dixon reported that for revenue forecasting he has lowered his initial projection of Conveyance Tax and Town Clerk Fees based upon current "run rates". Interest revenue is now forecast at $300,000 for the year. Property tax collection is at approximately 98% this year so far. On the expense side we are over approximately $8,000 for insurance as a result of a workers' compensation audit; electricity is over by approximately $6,300. Mr. Dixon reported that the Zoning Commission is over budget on their Legal Expenses and that they estimate an overage of $8,500 for the year; he is hopeful that the Zoning Commission overages can be offset by other budgets in Legal Expenses that have not been utilized. Mr. Dixon reported that he is forecasting that we will be approximately $236,000 ahead of budget taking into account revenue offset by expense overages. There are no school reports yet. Motion was made by Keith Crehan to accept the Treasurer's Report. Joel Marzi seconded the motion and it was unanimously approved. Motion carried. James Francis distributed the memo from the Zoning Commission with regard to their overages. There was discussion as to whether or not it is necessary for the Zoning Commission attorney to be present at every meeting. Selectmen's Topics: A. Board of Selectmen Budget Proposal: Treasurer Robert Dixon stated that the budget has been reviewed in great detail and that through the efforts of the Selectmen and Treasurer the initial proposals have been cut by over $250,000. Mr. Dixon indicated that this year's budget provides for a 4% general wage increase to non-union Town employees over the standard 3% in prior years. The net cost impact for the additional one percent is approximately $10,000. Mr. Dixon stated that we now have the proposed school budgets. The Region 4 budget is an increase of 7.3% and the Elementary School is 4.46% with a total education increase of 5.9%. Mr. Dixon indicated that based on that information it appears that we would have an approximate half of a mill increase or 3%. There was discussion that the Essex Elementary School budget proposal also contains items for the renovations project- may not be able to be part of the bond. The overall budget impact is approximately $50,000. There was discussion regarding the undesignated fund balance and what percentage of the total budget is recommended for an increase. Norman Needleman presented the budget to the Board of Finance. The Board of Selectmen's Proposed Budget for 2007-2008 for General Government is $6,044,368, an increase of $370,186 or 6.5% over the 2006-2007 approved budget. It should be noted that the total Proposed Budget for 2007-2008 is $6,162,070 which includes $117,702 of revenue offsets to expenses. Excluding the interest expense associated with the Essex Elementary School Renovation, the increase is 3.1%. At the outset of the budget process this year, Departments, Boards and Commissions were requested to submit "as close to a zero increase" as possible. The initial budget requests for town government have been carefully reviewed by the Board of Selectmen and Town Treasurer Robert Dixon and have been reduced by over $250,000. The significant budget increases are as follows:
It should be noted that the 2007-2008 Expenditures Summary (pages A3 and A4) reflect revenue offsets for various departments, such as:
It should also be noted that we do not have the Essex Elementary School and Region 4 proposed budgets at this time. I am hopeful that we will receive their budgets shortly to fully consider in our budget review process. Revenue Summary: The Grand List has risen by .85% and the estimated revenues for budgetary purposes reflect this increase. There are many revenue items which are not available at this time, such as the Governor's proposed elimination of the car tax. The revenues at this time are estimated and subject to change and review. Mr. Needleman stated that we have a budget amendment from the Planning Commission for $35,000 for a part time planner, there is ongoing discussion regarding the roll of the Zoning Enforcement Agent and Planning responsibilities Mr. Needleman also reported that the Board of Selectmen approved the recommendation to the Board of Finance of a funding request from the Town Clerk in an amount not to exceed $3,500 to provide for construction of the necessary storage for the new voting equipment. The recommended area for the equipment is the kitchen. Mr. Needleman also reported that the Board of Selectmen's budget request provides for $7,100 in capital for repair of the backstop at Comstock Field. Mr. Needleman indicated that the backstop was initially installed to be temporary and now represents a safety issue that probably should be addressed sooner rather than later. There was discussion regarding removing it from the budget and paying for the backstop this year. Joel Marzi had to leave the meeting and reported before he left that that the Essex Elementary School Renovation Committee is waiting for bids to return on the project. The bid opening date is March 28 with a possible extension to April 5. Mr. Marzi reported that the Renovation Commission will be looking to hold a public hearing to provide an opportunity to do a presentation to the Town. Mr. Needleman and the Board of Finance reviewed the budget. The following items were addressed/requested:
Motion was made by Keith Crehan to appropriate an amount not to exceed $3,500 from the Contingency Fund (10409-508400) for the necessary construction of storage for the new voting equipment in the Town Hall Kitchen. Fred Vollono seconded the motion and it was unanimously approved. Motion carried. OLD BUSINESS: A. Elementary School Project Update: Addressed above. New Business: None Communications and Correspondence: None Motion was made by Keith Crehan to adjourn at 8:54 pm. Campbell Hudson seconded the motion and it was unanimously approved. Motion carried. Respectfully submitted,
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