BOARD OF FINANCE

Minutes of the

April 14, 2015 Special Meeting

Public Hearing

Chairman Douglas Glazier called the Public Hearing special meeting of April 14, 2015, to order at 7:00 P.M.

Board Members Present: Douglas Glazier, Chairman

Cornelius O’Leary

Sandra Ferrari

Michael Ciarcia

Paul Harrington

Norman Boucher

Board Members Absent: Stephan Brown, Jr.

Nicholas Sheppard

Also in Attendance: Dr. Susan Bell, WL Public School

Catherine Cabral, Finance Director

Steven Wawruck, First Selectman

PUBLIC HEARING ON THE PROPOSED 2015-2016 TOWN BUDGET:

Chairman Glazier began the budget presentation by welcoming and thanking all for attending this evening. Chairman Glazier then turned the meeting over to Superintendent Dr. Susan Bell for her presentation regarding the Windsor Locks Public Schools.

Dr. Bell began by thanking all for attending this evening. Dr. Bell stated this is the second year the Board of Education has presented a zero increase budget. She then stated Windsor Locks, once an underachieving district, has journeyed to a transitioning district, and we are still making progress. She stated we believe all students can achieve at rates never before imagined.

Dr. Bell stated we are working to keep students at home instead of outplacing. She stated there are three new programs, ABA, RISE Academy and Pine Meadow Academy. She stated we are also proud of our many partnerships.

Dr. Bell stated the 2014 graduation rate is 97.7%, which is a significant increase from 2013, however we will not be satisfied until it is at 100%. She stated that 88% have

Board of Finance

Minutes of April 14, 2015 Public Hearing

Page 2

moved on to either a two or four year college, 4% entered the military, and 6% have become employed.

Dr. Bell then reviewed the current scores.

Dr. Bell then stated our goals are to improve Student Centered Learning so our students achieve at the highest level. She stated next is to leverage all grants awarded to Windsor Locks Public Schools and to maintain and expand the extended day-extended year program, the Saturday Academy, support new programs, and to maintain and grow secondary initiatives. We also will continue to be fiscally responsible to the taxpayers of Windsor Locks.

Dr. Bell then reviewed a summary of their budget. Dr. Bell then welcomed any questions. Cornelius O’Leary questioned if the grants would continue. Dr. Bell stated the Alliance funding in 2016/2017 will go to the Town and not the schools, so they plan to work with the Board of Finance to keep the funding.

Chairman Glazier thanked Dr. Bell for her presentation.

Chairman Glazier introduced all the Board of Finance Members present. He also introduced the Finance Director, Catherine Cabral.

Chairman Glazier explained the budget process begins in early February. He then stated our town had a revaluation in 2013.

He then stated The Board of Finance has worked diligently with all the various Boards and Commissions to develop a budget to increase services while trying to keep the mil rate as low as possible. The Board of Finance would like to thank the cooperative effort put forth by all the Boards and Commissions.

Chairman Glazier also would like to thank the Board of Education, and the Administrative Staff for doing a great job in securing all of the grants.

Chairman Glazier explained the major expenditures of the Town budget. He stated the subtotal of expenditures for the 2015-2016 budget is $15,848,152.00. He then stated adding in the Board of Education and Capital Improvement the total is $45,779,624.00. He stated the total budget is $46,434,677, which has decreased 1.4% from the current year budget.

Chairman Glazier reviewed seven years of CIP funding.

Board of Finance

Minutes of April 14, 2015 Public Hearing

Page 3

Chairman Glazier reviewed the CIP and Debt Combined Seven-Year Budget History. He stated the Board tries to keep the debt as level as possible. He stated we are paying down the debt by $2.8 million this current year, and by $2.3 million next fiscal year.

Chairman Glazier stated the various departments receiving funds for Capital Improvements are $76,450 for the Fire Commission, $218,700 for Park and Recreation, $34,500 for the Police Department, $50,000 for Public Works, and $215,000 for General Government. The total of the capital improvement plan is $594,650. He stated that also $591,620 will be taken from the fund balance for additional Capital projects, which brings the total of Capital Improvements to $1,186,270.

Chairman Glazier reviewed the Unassigned Fund Balance Plan. He stated a year ago the Board of Finance set a policy to keep the fund balance in the range of 18 to 20 per cent. He stated the Board has been drawing down the fund to keep it at that level. He stated a total of $1,059,620 will be taken from the fund balance, $468,000 to reduce debt and $591,620 will be used for Capital projects.

Chairman Glazier reviewed the revenues.

Chairman Glazier reviewed the Grand List comparison from the previous year. He stated the 2014 Grand List is $1,208,430,952, which decreased from 2013.

Chairman Glazier then reviewed the Budget Summary. He stated the approved budget is $45,779,624. He stated the calculated mil rate is 26.56. He stated the current mil rate is 26.23. He stated for a home valued at $143,000, the homeowner would be paying $2.74 per month more, a home valued at $178,000, $3.42 more per month, a home valued at $214,000, $4.11 more per month, a home valued at $250,000, $4.75 more per month, and a home valued at $285,000, $5.48 more per month.

Chairman Glazier asked for any questions.

Fire Chief Gary Ruggiero stated in the Fire Commission budget they had a Capital request for $80,000 to replace radios. He stated it was his understanding that the Board was going to discuss taking the funds from the Unassigned Fund Balance. Chairman Glazier stated the Board will be meeting in two weeks and will discuss at that time.

The meeting adjourned at 7:50 PM.

Respectfully Submitted,

Linda A. Kuchta

Recording Secretary