Board of Finance

Minutes of the Meeting of April 21, 2005

Present: Ralph C. Gold, chairman, Sally Hart, Tom Bechtle, Earl Brecher, Roger Kane, members. Anne Kosciusko and David Grossman, alternates. Gordon M. Ridgway, first selectman and Barbara Gold, chairman of the Board of Education.

Chairman Ralph Gold asked David Grossman to sit for Celia Senzer who was absent.

The minutes of the March 17 meeting were approved as presented.

The FY 2006 budget was reviewed for last-minute changes. Barbara Gold reported that contrary to earlier expectations the Board of Education will not have leftover funds to pre-purchase supplies in the current year. Because of this about $6,000 had to be put back into the education budget which, with a few other changes, brings the total education budget to $3,409,289. The allocations planned for the $40,000 capital piece are:

Computers $10,000

Roofing 4,200

Windows (vinyl sash) 12,800

Windows (replacements) 5,000

Roof heat cables 3,000

Painting exterior 5,000

Total $40,000

The clerk reported that the balance in the Municipal Reserve is just over $400,000. Various projects under way in the town have drawn on the reserve and reimbursements from the state are slowly making their way back into the town’s coffers. The total outlay, not to be reimbursed, has been $30,000 paid to buy land at the Furnace Brook recreation area and $12,625 laid out for a generator at CCS.

Gordon Ridgway reported that a second Small Town Economic Assistance Program grant (hereinafter STEAP II) has been awarded to the Town to purchase land at the river’s edge in West Cornwall from CL&P and to assist the Hughes Library’s improvement projects. Leftover funds, with state approval, may be spent to improve the playing fields at CCS. The funds for these projects will be drawn from Municipal Reserves and reimbursed by the state.

Earl Brecher moved and Grossman seconded a motion:

To recommend to the Town Meeting that the Board of Selectmen be authorized to expend up to $200,000 from the Municipal Reserve to purchase property in West Cornwall and to pay for certain improvements in the Hughes Library, such expenditures to be reimbursed fully by a STEAP grant from the State of Connecticut.

The VOTE to approve was unanimous

Brecher moved and Tom Bechtle seconded a motion to make the following transfers in the FY 2005 General Fund Budget:

FROM: Contingency 01-466-100-00 $11,000

TO INCREASE: 01-425-620-12 Highway Fuel $8,000

01-425-620-18 Road Materials 2,000

01-465-705-85 Tax Refunds 1,000

FROM Visiting Nurse 01-450-677-00 $1,850

TO INCREASE: Park and Recreation After School

FROM General Fund Undesignated Fund Balance $11,000

TO INCREASE: Snow Removal 01-425-620-50

The meeting adjourned at 8:32 pm.

Lisa Lansing

Clerk