February 27, 2018

BOARD OF FINANCE MEETING – February 27, 2018
 
The meeting was called to order by Board of Finance Chair Christopher Santucci at 7:03 pm. Members present: Dennis Sienna, Christopher Santucci, Tim Vennart. 
 
Also present were First Selectman Dave Eaton.
 
The minutes from the January 16, 2018 meeting were reviewed. A motion was made by Dennis Sienna to approve the minutes as read. Tim Vennart seconded the motion. The motion was carried with Dennis Sienna and Tim Vennart abstaining. The minutes from the February 6, 2018 meeting were reviewed. A motion was made by Dennis Sienna to approve the minutes as read. Tim Vennart seconded the motion. The motion was carried.
 
The members discussed the January 2018 Revenue, Expenditure and Vendor History Report; Fraud, Risk Management, Internal Controls and Town Policies; 5 Year Planning; the February 6, 2018 Tax Collector Report; the February 8, 2018 EASTCON Year to Date School Expense Report; and the Annual Town Report. 
 
New business included a notice from the Tax Collector that expense item Refund Expense 1131-200 will have an overage of $3033.06 due to overpayment of several tax bills. A motion was made by Dennis Sienna to allow the overage with adjustment to be done at end of year. Tim Vennart seconded the motion. The motion was carried. 
 
The members discussed the proposed budgets for fiscal year 2018-19. A report from the State Department of Education on the calculation of the MBR, and the state spending cap of 2.5 percent may impact the budgets.   A motion was made by Dennis Sienna to adjourn at 8:11 pm. Tim Vennart seconded the motion. The motion was carried.
 
Respectfully,       Bonnie Dabrowski, Recording Secretary