Board Members Present:  Messrs. Muller, Atkinson, Nichols, O’Brien, Chairman Gerald Sargent, and Ms. Kopas.

 

 Also present were Town Administrator Tom Landry, Superintendent of Schools Dr. Lynne B. Pierson, Finance Director Rick Darling, Director of Finance & Operations (Schools) Dr. Joanne Keating, Building and School Building Committee Chairman Richard B. Wolf, Board of Education Chairman Ellen H. Uzenoff, Board of Education Member Les Wolf, Brian Gioiele from the Weston Forum and Secretary Donna M. Anastasia.

  

 

Dr. Joanne Keating presented a proposal on the creation of an Internal Services Fund for Health Insurance. This fund would provide full disclosure of revenue and expenditures, and  retain fund balances specifically for health benefits to help establish long-term stability. It would provide full disclosure of revenues including fund appropriations, employee cost sharing, state teacher’s retirement reimbursements, retiree co-payments and Cobra contributions. Expenditures against the fund would include paid and accrued claims, stop-loss insurance, administrative fees and Medicare supplement payments.  The Town of Weston would maintain the bank account and the Board of Education would record all transactions and report quarterly to the Town.  Currently the Town of Westport and Wilton maintain this type of fund. Dr. Keating noted that this type of reporting will quantify expenditures, show aggregate stop-loss information, allow for claims history and give an overall better picture of the numbers. Mr. O’Brien noted that the Insurance Advisory Committee is in favor of such a plan. Mr. Atkinson concluded stating a Resolution is needed create the fund. Dr. Keating will draft a resolution for the Board to act on.

 

 

 

Dr. Keating reviewed the current school accounts and the three accounts each school maintains will be reduced to one account per school. Once Dr. Keating has met with the auditors guidelines and account policy will be developed (with the exception of one High School account used for scholarships). Mr. Sargent would like Dr. Keating to follow-up and submit the progress being made regarding these accounts. All imprest accounts have been closed.

 

 

 

 

 

Mr. Sargent stated the purpose of the Gift Policy is not to limit gifts but rather to address the possible ramifications upon acceptance of gifts. Mr. Darling stated that this issue has not yet been presented to the Board of Selectmen. Dr. Pierson noted that gifts are always reviewed in the context of the Ethics Policy, and relevance to education

 

 

Ms. Nichols discussed the uncollectible tax list which has been with a collection agency over one year. Most of the entries belong to former Weston residents who have moved away and their whereabouts are unknown. The list represents automobile taxes, not real estate taxes.  Discussion regarding the publication of the list after a grace period of one year. 

 

 

Motion:  David Muller made a motion to transfer $60,130.79 to Suspense list.  Ms. Kopas seconded.  Motion passed unanimously.     

 

 

Chairman Richard Wolf, Building Committee discussed the status of the High School roof. Currently there are no leaks in the roof; and temporary repairs have been made periodically to correct leaks. Dr. Pierson noted that the roof is checked regularly and concurred that the roof is currently sound. Relative to a permanent fix, Mr. Wolf explained that the State requirements have changed in the past twenty years and it may cost more to “correct” the existing roof areas and drains than to replace the roof. A cost analysis will be performed to determine if bringing the roof to the State recommended pitch, and the partial reimbursement that would come with it, is superior to replacing the roof and forfeiting state funds. A structural analysis is underway too guide the decision.  H.B. Fishman has been hired as a consultant.

 

 

 

 

Finance Director Rick Darling gave an overview of several revenue items; the fund balance which is currently un-audited to be just over $8.4 million. There were several areas that exceeded the budgeted amounts causing an excess;

                                                           

 

 

 

 

 

 

Revenue Summary

                        1)    Tax Collection which typically came in over due to the fact that the              

                               December

                                supplemental automobile tax levy is not budgeted for.

                        2)     An increase in interest rates for investments as well as the balance of

                                available proceeds for investing.

                        3)     The Building department had a solid year.

4)     The additional increment in the Conveyance Tax was not included in the        budget (0.11%  budgeted and 0.25% collected) which is due to sunset June 2007.

 

Of the 182K surplus for Health Insurance 75% of this revenue is being proposed to go into the Insurance Stabilization Fund and the remaining balance to transfer into the General Fund.

 

There is a large unexpended balance under Youth Services since a vacancy still exists for a Director.

 

 

Expenditure Summary

On the Expenditure side snow removal costs were up due to heavy storms and many storms occurring on week-ends. The snow removal number is a gross expense until the Town receives the grant from FEMA. The grant is expected to be approximately $45,000.00. 

 

Mr. Sargent noted that through the efforts of many and a healthy economic climate a strong 8.4M fund balance has resulted.  Mr. Landry mentioned the designated 325,000 School Health Insurance line item (Discussed on page 1,item 1) would result in 8.7M net this item. Our actual cash would be 1.5M and not 1.2M.

 

Mr. Darling discussed the Commission for the Elderly and Dial A Ride accounts.     

There were additional scheduled hours for the Dial A Ride service this year.  It has been a difficult account to budget for but adjustments have been made to more accurately target expenses next year.

 

 

Mr. Darling presented his proposal for a Cash Management Policy. Mr. Sargent would like to see stronger controls regarding the ability of individuals (employees) to open and maintain accounts. Mr. Sargent suggested a statement regarding this issue be included.  

 Rick Darling will add a statement on restrictions on opening accounts and bring the policy back for approval at the next meeting. 

 

 

 

 

 

Mr. Landry requested the full transfer amount which has been done for the past two years. Initially this procedure was established because timing of the budget process is not aligned with the receipt of our health insurance rates.  This year there was a 2.5% increase, the budgeted increase was 7%. Next year it is projected to show a surplus. The purpose of the reserve is to ensure available funds in the event additional funds were needed after the Town Budget meeting. Mr. O’Brien who is also Chairman of the Insurance Advisory Committee commented on the continued reasonable contributions amounts for employees.

 

Motion: Mr. Sargent made a motion to transfer Insurance Stabilization funds, Mr. Muller seconded. Motion passes unanimously.    

 

 

 

Mr. Landry outlined the status of each Special Revenue Fund account. Briefly the four items to be addressed are 1) what is the fund used for  2) how does money get into the account  3) how the money is used in the account  4) who controls the account.

 

Meals On Wheels: Mr. Landry and Mr. Darling are recommending closing this account.

 

Dog Registration: By state statute there must be a separate account for this fund.

 

Dial A Ride:  Mr. Landry and Mr. Darling recommend closing this out. This account has a $10,000.00 balance which will go to the General fund.

 

Youth Services:  This account must remain in place. Mr. Landry and Mr. Darling are recommending 50% of the year- end revenue in this account be moved to the General fund. The hiring of the Director is currently a Union issue.

 

Library Board:  There are about eight different funds held with the library.  Mr. Landry explained that donations are oftentimes held and need to be kept in separate accounts. The Library Board will vote on an expenditure and two signatures are required.  There is one account that Jane Atkinson, Director has sole authority over. This account started as “Friends of the Library” many years ago and should be left in place.  

 

Senior Citizens Center:  Mr. Landry would like this special fund to remain for “pay” programs as is done at Parks & Recreation and Youth Services. Historically this account was used to pay for office supplies and staff development but this practice will discontinue.

 

Ivy Moore Cottage:  This house was left to the Town of Weston with the caveat that it be used for senior housing. We currently have a tenant who moved in September.  The town has spent some money on the cottage this past year, partial new roof, new refrigerator, new ceiling, a new floor and the porch painted which was charged to Town repairs. The rent is based on income, currently around $600.00.  Mr. Landry feels because the rent is the only money coming in that this account is not needed. 

 

Tower fund:  The Town received about 50% in revenue for rental on the tower currently behind Town Hall, approximately 50,000.00 per year. The money is spent on communication equipment and money will be spent on the new tower at the transfer station. The funds were treated as designated funds. There is about $200,000.00 in the account now, however once the tower is underway at the transfer station funds will be used. Mr. Landry suggested that once the transfer station is complete this account can be discussed again. He also noted that this account served the town well when a lightening strike hit the Communications Center and there was $30,000.00-$35,000.00 in damages, the first $25,000.00 is not insured and we were able to go to this account. This account is part of the General Fund but segregated. 

 

Morehouse Elderly Assistance:  Upon Ms. Minerva’s demise approximately $100,000.00 was left to the Town of Weston in accordance with her will. (Currently there is $90,000.00 approx. with only one or two expenditures used)

Mr. Landry explained the terms of Heady Minerva’s will which states that the funds can only be removed by the Commission for the Elderly with Selectmen approval. Mr. Darling verified that this account is in a separate account. This account will have to remain in place.

 

Social Services Fund:  Mr. Landry stated that this account is a separate account and the department head Charlene Hillman is the sole signatory.  Donations are made to this account; amounts over $500.00 must go through Mr. Landry. This account serves the community for immediate needs. Mr. Landry and Mr. Darling would like this account to remain open. 

 

Three accounts will be dissolved. Mr. Darling will also work on the remaining accounts for possible closure/consolidation.   

 

Discussion regarding the Cemetery account. Mr. Landry said there are no funds coming in on this account and a small amount used for mowing and the account can eventually be phased out. The maintenance portion can be moved to the Highway Department. (Account holds about $50,000.00)

 

Mr. Landry stated that in November there will be account transfers and adjustments to bring several accounts to zero.

 

 

Members reviewed the upcoming Budget calendar. The calendar has been seen by the Board of Selectmen and the Board of Education.

 

 

Motion:  Chairman Sargent made a motion to approve the minutes of June 13^th, 2006, Mr. O’Brien seconded, and Mr. Muller abstained.  Motion passes unanimously. 

 

Chairman Sargent made a motion to approve the minutes of July 13^th, 2006, Mr. Nichols seconded, and motion carries unanimously.

 

Mr. Atkinson made a motion to approve the minutes of September 14^th, 2006, Mr. Nichols seconded, and motion passes unanimously. 

 

 

No further business.

 

 

Mr. Atkinson made a motion to adjourn the meeting, Mr. Nichols seconded.