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BOARD OF FINANCE MEETINGS:  CLOSELY WATCHING WHAT TRANSPIRES...LIKE A CT SHELL GAME?

       

 
        
W E S T O N   B O A R D   O F   F I N A N C E
MEMBERS: 
Rone Baldwin, Vice-Chair., Jeff Farr. Vacancy (R), Jamie Zeppernick (R);
Majority Democrats:  Steve Ezzes, Chair., Amy Gare, Mike Imber, Richard Bochinski.
                          Weston Finance Board meeting reports, reverse chronological order; we try to attend every Board of Finance meeting. 
Here is the most recent audit as posted on the Town of Weston website:  http://www.westonct.gov/media/file/Audit2017.pdf

CT TAX PANEL:  Appointed 2014, reported 2016;  mission, membership, reports on meetings.  Definitely for the public administration junkies among us...no
one asked me, but VAT doesn't work IMHO at anything smaller than country-wide (not the real estate scandal) scope.  But what do I know nowadays?


Looking outward, since Weston does not exist in a vacuum...and the subject expands, 2012

As discussed at Board of Finance meetings in the  Fall and Winter of 2008...as relates to foreclosure
question; insurance costs to the community,  and perhaps now, impact of the Tax Panel...

HOW DO WE RELATED TO ECONOMIC CONDITIONS ELSEWHERE?  Background:  Including limits on bonding (what are they)?

INSURANCE ADVISORY COMMITTEE
MUNICIPAL OBLIGATIONS - O.P.E.B.
MORTGAGE BACKED SECURITIES report 2010
ECONOMICS (the dismal science)
and the immediate issue;. 
GLOBAL BUSINESS AND

NYTIMES LINK;
CT Municipal Fiscal Indicators 2004-2008
CT Municipal Fiscal Indicators 2006-2010
CT Municipal Fiscal Indicators 2008-2012 (no longer in print format - we suspect this and most recent version a major source of town data for CT Tax Panel);




FY23 Budget Process page here

Meeting reports will appear by host agency page (first Board of Selectmen, then Finance Board [Education])


Pre-pandemic process...remember this?

FISCAL YEAR 21 BUDGET PROCESS DATES - START YOUR ENGINES...HERE
FY'19 budget process...FY'20...no quorum for either.  (104 and 101 - quorum is 130).


NEXT TAX SALE REPORT AT JULY 8, 2021 meeting for 2021-22...we believe the Dec. 17, 2021 Selectmen's meeting
put the next tax sale in motion...
WHAT IS A TAX SALE?  Last year pic above.  How many paid taxes due before the sale? (Four [4] were paid.)

TAX SALE RESULT.previously...how it worked in the past example...
  • Town Hall Meeting Room then at 10am was the place.  What is this all about and how does it work, you might ask...
  • As far as we have been following it, there were 13 properties selected by the tax collector some time ago who were in arrears
  •  on property taxes several years in a row.
  • Three paid up so far...make that four (4)  see above;
  • So 9 properties remain to be auctioned off to the highest bidder. 
  • Of these, three (3) were sold at auction Wednesday morning - in excess of taxes owed, we think.

This has been a subject for discussion at the Board of Finance as well as its originator, the Selectmen.  And we are sure more will
 be coming as six (6) properties are held still for future action by the Town..


"Does Greenwich do this?" is always a question we ask... .


The picture that explains many things.
If the voters approved $79 million in 2001 what is their limit now?

WAITING FOR NEW BUDGET SCHEDULE FY'23...approved January 13, 2022 - to be uploaded as soon as we can get it.

https://ctmirror.org/2021/04/21/democrats-want-the-state-to-spend-180-million-more-on-municipal-aid-what-does-that-mean-for-your-town/



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ON TO REFERENDUM MAY FIRST 12 noon to 8pm


It should not have been a surprise that the ATBM drew only 44 residents and no quorum of 130 qualified voters showed up
on Saturday April 24th - however, the same decision to add a quorum the ATBM also demanded a Referendum be held
- this by a Charter Revision Commission some time ago.


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DELIBERATION April 6th at 6pm.- went on for 3 hours (we watched the last part online); (in blue) a 1.7% increase!!!.

Jeff points out that "future increases" of 3.4% increases (l)...below where FY22 proposal ended up...

We had enough at 8:34pm...watched end later when it was posted.  So will there be an ATBM quorum this year?
Mill Rate to be set after Referendum, whenever that will be...perhaps May 6 or 13 at 7:30pm (after Referendum, whenever).

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BOARD OF FINANCE PH - March 30, 2021 QUESTIONS BELOW
  1. Rehr - pro
  2. Support all budgets, sidewalks - how much?  Jonathan answered
  3. Kristana - loop, Onion Barn funding,'big nugget" insurance budget - move away from the State Plan
  4. WWHD -  If Easton joins what will our dues be?
  5. Amy S. - Thank you to everyone
  6. Debby - WWHD - permits take too long
  7. Sarah D. - Thanks.  Bond for MS now while $$ is cheap (that is called arbitrage)
  8. Caroline - in awe of Finance Board - roads
  9. Road funding
  10. What was the impact of zero last year?
  11. What would be on the chopping block?
  12. Mill rate?  Mill rate 1% means your taxes go up
OVER BY 8:36pm adjourned - but they didn't close that public hear, we think.
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Board of Finance Review FY22 Budget on Zoom. 
Summary of high points by msw


Board of Finance Monday March 8, 2021 at 6pm (Education Budget).
  Questions, wringing of hands...2.68% increase proposed.
31 people on Zoom including Boards and staff.  Transportation and Spec Ed focus merge @7:30pm...8:52pm and we are done for the night.
Board of Finance at 6pm Tuesday March 9, 2021, 2nd night of  BOE budget review - CANCELED

Board of Finance at 6pm Wednesday March 10, 2021 - Selectmen's Budget review
It began at 6pm and we watched until 9:16pm (as Capital Budget was being reviewed).  2.68% increase.  Those present at
BOF 45 on call at 6pm, by 8:30pm 35 (Tree Warden budget).  Capital Budget next - didn't take long it was reported.
Board of Finance at 6pm Thursday March 11, 2021 - 2nd night of Selectmen - CANCELED. 
Next stop:  BOF PUBLIC HEARING MARCH 30 and 31 at 8pm on Zoom.
BIG NEWS:  The will be an outdoor ATBM Saturday April 24 at 2pm on School Road where high school graduations take place
(2 rain dates on the calendar).








Board of Finance Special (at 6pm) Thursday Feb. 10, 2022 on Zoom

Full attendance - finished in under 2 hrs.  What did they do?  L-R... 
  • Part 1 of discussion of OPEB portfolio
  • How our OPEB funds did in 2021
  • ARPA funding process...
UPCOMING IN 2022:  A short and long-range plan.
  • Tecton to have capital project upgrade proposals for Town & Schools for bond issue eventually
  • Selectmen and Finance Board decide by 2026 on ARPA use of funds (second 50% of total $







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January 13, 2022 Board of Finance Special Meeting - efficient meeting lots accomplished.
  • Election of Officers - Chair. Rone Baldwin, Vice-Chair Steve Ezzes (bottom left)
  • 2022 meeting calendar and budget process calendar approved - 6pm regular meetings on second Thursday
  • "No problema" audit review (top)
  • $283,015 approved after Town DPW Director.  Same as Selectmen OK'd (Valley Forge, Newtown Tpke. (bottom right)
  • ARPA report final to come.
  • Dec. 9 minutes approved;  adjourned 7:22pm



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Dec. 9 Board of Finance APPROVED "needs assessment" in 2 pieces - $19,500 for one consultant (unanimous) and $58,800 for another (5-2).
It took 90 minutes to get to a vote and argument that prevailed was that this was a real opportunity to try to save money in the long run..




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Second on the card Thursday November 18, 2021 was Finance...
Special Board of Finance meeting whips through their agenda covering first quarter and overall fiscal picture in 40 minutes.


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SPECIAL JOINT MEETING OF SELECTMEN & FINANCE BOARD - not quite as long as "Gone With the Wind" but close.

  • Thursday beginning at 6pm -
  • First 3 items Joint followed by Executive Session...and then one more, with #5 deferred to special meeting next week
  • sometime
  • Item #4 was the water system at both Ravenwood and the Town-School wells.
  • New consultant had been selected.  Short term and long term repair-replacement recommended by Building Committee
  • Then Selectmen announced Lachat agreement with neighbors ...61 people on the call - October 27 special meeting.
  • Interviews (DEI, Sustainability);  appointments.
  • Special Town Meeting approved 3-0 to be scheduled for Saturday November 6 at WHS Stadium 1pm-3pm - LIVE.
  • Ordinance renewal:  We were the only member of the public left - testified in favor.
  • Minutes approved.
  •  Meeting ended @9:35pm.

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BOARD OF FINANCE OCT. 14m 2021 SPECIAL 6PM THURSDAY ON ZOOM  - LWV Debate replay available here:  https://lwvwestonct.org/

Board of Education items only plus commercial for Saturday Board of Ed & Finance Board LWV Zoom debate beginning at 10am!!!



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SPECIAL BOARD OF FINANCE (6PM) MONDAY SEPTEMBER 13, 2021
 

Tower Fund comes to the rescue again!!! 
Left:  Approval given for $38k study prior to $2million plus communications upgrade for Public Safety (Special Town Meeting).  Right -   What to
do if September 18 Machine vote approves the sale of Fromson Strassler to ALT - what can sale $$ be used for?

"American Rescue Plan" $3 million over two years, as we heard it, can be spent on just about whatever we want.  We will review video when
it is uploaded to confirm what happened in  the sections that we missed (time of P&Z meeting 7:15pm - 8:38pm - Finance 6pm and still
going strong at 7:15pm).



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Special Board of Finance Wednesday 7-28-21 at 6pm until 7:17pm
What might have been a quick meeting was not to be as Finance members expressed insecurity with the process of doing another
what I call Streetcar Named Desire Financial model.  Depending on the kindness of strangers.  To wit - should the Finance Board cross
their fingers and wish for good luck when:  Applying for grants, counting their chickens before they hatch on land purchases coming thru,
always being lucky with estimated you name it - bid numbers, tax collection, all around conservative cost guesses.  And more...
including taking Special Town Meetings & results of machine votes for granted.

Approved $240k for road repairs 4-1.  Guess who voted "no" - somehow we missed it (in process of doing snap).  There was a significant
discussion about the low, medium and high projections of fund balance in a few years.  Unknowns:  Reval, closing on purchase, higher than
normal overtime by police, as-yet tested word on further need for $$ set-asides for Education Board.  And bonding some of the capital
expenses of significant size.




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(Photo of last tax sale event in Weston)
"Tax sale 2021" began May 2021 - Town Administrator  (c) indicates  report coming at a Finance Board meeting...see below.

Board of Finance Special Meeting 6pm-8:15pm July 8, 2021 on Zoom. 
And at the end of the meeting discussion of continuing Zoom thru April 2022
Suspense list OK, money rolling in, low interest on investments, TAX SALE nets $1,609, 583

L-R - Finance Board member thanked for service; Ed Bd bi-monthly report;  Facilities Optimization Committee $95k;  Body Cam $259,702 OK.

This was a long meeting and the last for excellent member.  Annotated agenda link here tells the full story of each item: 
https://www.westonct.gov/Home/Components/Calendar/Event/1179/78


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SPECIAL BOARD OF FINANCE December 10, 2020 at 6pm
The fight for bonding room begins

SPECIAL BOARD OF FINANCE July 9, 2020 at 6pm via ZOOM:  http://www.westonct.gov/media/file/BOFagenda7-9-20Rev.pdf
Report from various sources including tax collector and Director of Finance (at the end of long attachment) online now.

Present:  Amy, Jonathan, Rick, Dick, Rone Greg, Allan, Jeff, Steve, Tony, Sen.Haskell (who still works with Congressman Himes).

Cost of reopening.  Drop in income from taxes.
Steve and others ask Sen. Haskell (who's "day job" is working for Congressman Himes he says)
  • Where are we legislatively and fiscally in CT?
  • Re-amortizing teacher pension?  Nope. 
  • More affordable housing. 
  • The federal aid COVID-19 for Weston?
  • Shared thought by both Parties on more education $$.
  • "Doomsday" if no DC funding passes. $51k of funding CARES - $842 million new funding should be better.

REOPEN SCHOOLS PLAN:  THREE CHOICES OFFERED ON FALL TERM
a)All students in school, not same rule for teachers, we think.
b)Mixed or as they say in NYC, "blended" in and out, students & teachers
c)Remote learning only an option for both students and teachers. 


WEBINAR FROM SDE & DPH
State guidance is not specific.  Stay-tuned - June 24 final $$ cost news to SDE:  Preliminary costs/health guidelines soon for
Town review. 

QUESTIONS:  Full opening - or like NYC?  Is there a metric?  Masks to be worn?  Yes. 
  • "Cohorts" together.  Defined as a group who will stay together - teachers move?
  • Bus cohort too.  Transportation number enormous.  No flexibility on personnel.
  • East Hampton CT Plan a good place to start and a good example. 
  • Windows open on buses? 
  • A lot of families don't use the bus.  50-60% ride the bus. 
    • "Cohort" bus ride. 
    • Monitors on each bus.
    • Help in drop off. 
  • High School and WMS to mix distance and onsite.  FWIW - Distance learning capability mandated.


WHAT WE KNOW
  • Pool of teachers who can't come in may handle distance learning. 
  • Family perspective est. 20% stay home? 
  • No answer - Special ed? 
  • Enrollment?  Kindergarten numbers up. 
  • Sense of distance learning?  25% distance preference maybe. 
  • $123,000 for technology, $100k ppe. 
  • $1.7 million transportation.
  • Cleaning of facilities. 
Questions - where are you going to find this money?  Ans.  Look aggressively - no sports (as Ivy League has decided)? .     .

7:02pm - still on education.  Good idea (to 2 members of Finance) - why not start off with distance only option?

TOWN COSTS?  NO NUMBERS YET.  MUST INCLUDE COSTS OF ADDED TRAFFIC CONTROL FOR SCHOOL BUS "DELIVERY"
 


OPEB - report every other year.  Volunteers no longer in.  Good news - 98.5% funded.  Assumptions...p.26. 
New "Mortality Table" shows people living longer. 
What we're seeing of liability is in present members.  461 liability - when they retire new hires by town don't get medical benefits. 
ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ

7:50pm

COLLECTING TAXES 2020.
Tax Collector - describes how taxes are on "suspense."  Liens.  DMV cracks down.

JULY 1st due - escrow- 50%?  And January 1st.  Escrow paid on time.   
Exec. Order 90 day deferral applications.
51 accounts will defer including cars.  $318k total. 
How much do we need to bring in?  $72 million - $36 million twice. 

8:06pm
Scenarios???  Where to find cash quick?  Any money can be tapped - cash flow - i.e. Tower Fund.   

8:18pm we left the meeting - to be continued.  Any meeting that takes longer than 2 hours is a...shell game.  If something is decided after
2 hours it is usually regretted by the Board or Commission that let it happen!  JMO.

One real estate comment (we add this accurate data - 2 acre zoning since 1953 - first Town Plan 1969):  NOTE education levels.




















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Board of Finance June 11, 2020 at 6pm via ZOOM - http://www.westonct.gov/media/file/BOFAgenda061120.pdf



Present:  Amy, Rone, Jeff, Dick, Steve. Rick, Jonathan, Cathleen on Tax Relief... and maybe Chena 'phoning in? 

Suspense list: 
Accounting adjustment.  Tutorial. 

Set Discount rate for OPEB:
5.5%

Expenditure freeze on FY21 capital items:
Slow down?  Capital and paving.  We don't know what school re-opening will cost, etc.  Letter to Selectmen but not to Board of Ed.  Be prudent
and wait.  Conserve cash.  "Defer significant paving and cash capital & COVID"  4-1.  (Amy)

Discussion regarding Town's 10 yr budget & mill rate forecast:
Grand List non-growth.    Reasonable assumptions; '24-'25 next reval.  5 yr forecasts with scenarios.  Legislative unknown.  Guidelines? 


Report tax collection progress, cash flow projections by month and subsequent reporting of actual results.
July meeting begin to track.


Investment portfolio:
$442,000.  Positive gains.

Minutes: May 2, May 7, May 21 approved


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SPECIAL BOARD OF FINANCE "virtual meeting"
Thursday June 4, 2020 at 7:30pm via ZOOM

Having taken time to discuss matters, the Finance Board is scheduled to finalize the FY21 budget.


And they did, in a 2 hr. meeting.

Play-by-play here.

Bottom line:  They wanted to be able to say they had a "zero increase" this year.  But how to get there?

There was a philosophical debate.  Is it better to do real zero or fake zero?  The vote was 4-3 for fake zero.  A middle ground
proposal failed 3-4.  These were not Party Line votes.

Arguments ranged from "mob rule" tactics against cuts to "the sky is falling in" as real estate still tanking and competitiveness dimming.


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Special Board of Finance "virtual meeting"
Thursday May 21, 2020 at 6pm on Zoom

AGENDA:  http://www.westonct.gov/media/file/BOFAgenda052120rev.pdf

We note that there is not yet any clear message from CT regarding school re-opening standards for the Fall.  At least that we've heard!

DISCUSSION/DECISION 2020-2021 FY BUDGET WAS THE THRUST - NO DECISION
We followed up Friday to watch the remainder

Present:  Dick, Greg, Rone, Steve, Amy, Allan and Jeff.  Also Ed Board - Dr. McCercie, Tony, Phil, Mike Rizzo;  Town side -  Chris, Jonathan
and Rick. 

Statement by Chair. (above, center on second row):  June 1, 2020 to approve budget and set mill rate.
NOTE:  Boldface seems to be a point of agreement.

1.  TOWN OPERATING BUDGET - we note these matters always move around (numbers) - free form discussion.
  • Any outstanding questions?  Has money been set aside for raises for non-union employees.  $35k.  Chris responds re top level staff. 
  • Other areas?  1.39 increase pretty much the bottom line. 
  • Tax relief program could save $100- 200,000.  Not to be done now.  How to get to zero ain't easy. 
  • $35,000 saving for health district not going to happen 'til COVID gone. 
  • $9k from Commission of the Arts, 
  • $10k more, I think from Rick who renegotiated fuel cost.
  • Looking for STEEP grant but not in budget.  Even million plus 25k to zero.  Can we look at this to to Dispatchwith Redding? 
  • Tower T-Mobil.  Rents - leases. $176,000 owed $200,000 in fund.  We should be getting back rent from Sprint. 
  • Do a one-time draw. 
  • Take $25,000 from Tower Fund
  • Savings this year?  Light winter - $199,000;  and more number fly around...
  • $68,000 savings, $600,000 Board of Ed.  $15.2 million to $3.8. 
  • $10,000 CUT seemed to be agreed.

2.  BOARD OF ED OPERATING BUDGET (We are watching this on Friday.)
  • Non-union employees question from Jeff.  Reduced support positions.  Early retirement incentive? Done this way to avoid lump sums.
  • What savings are we seeing?  More clarification?  More savings?  Contractual.  Rone - isn't this really a one-time thing?
  • Why shouldn't we"tighten our belt?"
  • Security system monitoring.  Why the jump?  Technology.  Parkland response.  EXECUTIVE SESSION needed to discuss this.
  • SPED transportation?  Outsourcing?  Non-Certifieds?  Cover out of district only?  NO.  How many in-district?
  • Mike Rizzo answers(he's on the way to Westport).  More discussion...some of it not related to matters at hand.
Special Ed costs (remember it was costs out of control that made the Board of Finance agree to Board of Ed move to in-house model)
  • "Unanticipated"  Major challenge for every district.  In 2 years...
  • $800k this year different from 2 years ago version of $800k.  Model more economic.
  • More students being transported now.  Finance director responds. 
  • $50k per student.  How far out of district do they go?  35-40 minutes average.  2 buses for in-district
SPED students.  $200k in-district.  LIABILITIES.  I.E.P. costly transportation.
Savings found?  FT $250k savings.  $131k back in for IT coordinator.  $120,000 CUT (IT). 
NEWS: 
Enrollment creeping up (3rd grade).  June 22nd Board of Ed meeting - multiple meetings with public comment.


3.  CAPITAL BUDGET (TOWN & ED) $160k, $49k for a later budget.

  • Capital projects Michael's Way; fire respirators $$ should not be reduced.  Total $250,000.  STEEP Grant applications in future.
  • Ramp at Senior center?  We have to do it.
  • Mason truck?
  • Budget repair has to stay & Onion Barn eliminate water project.  Emergency issue
  • Safety component.  (During construction for Library)
  • Sound proofing this year?  OSHA.  At H.S. and M.S.  Risk to those in the room.

4.  DEBT SERVICE - not discussed - to be done at June 1, 2020 Finance Board meeting.
.

5.  MILL RATE
Discussion did take place at the end, before public comment in this more than 3 and 1/2 hour meeting:  Random thoughts...
 
More COVID?  If we use General Fund, will save tax payers.  Next year no General fund input,  2% increase - BUT
the apparent 3.39% is...COVID expenses out of  General Fund.  Rick confirms Allan's math. Savings $330k...$682k savings.
Public Hearing: We obviously don't know this since we left at 7:30pm.  $3.65 million to spend.  Steve - NO WAY - no  how - CDC guidelines
on schools.

Dick why no decision tonight???  Too many unknowns.  Coalition of compromise.  MAKE A DECISION.  for comment?
Allan:  Bring road spending up by $100k. 
How to get there (Dick)?  COMPROMISE.
Greg - don't tap Surplus. 

Open to public comment only on specifics brought up during this meeting:

David Felton - IT - isn't there $70k savings?  Some.  And for Rizzo's replacements.  Federal Govt $$ for education?  Means based - then
we won't get any.  Below 500,000 pop cities don't get anything

Sarah G.  I.E.P.?

Kristana Esslenger - increased expenses.  Why are we not talking about using savings into a fund.  Buses, cleaning.  Why not an option?

Gavin Guerra - why we can't we have a referendum?


Approval of Minutes of May 2, 2020 Public Hearing - Allan moved, Rone seconded, 5-2.  (Amy, Greg no.)  There was a need to
consider that this was Public Hearing where you have to give your name and address.

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BOARD OF FINANCE SPECIAL MEETING (VIRTUAL) THURSDAY MAY 7, 2020 at 6pm.  We had to cut out at 7:30pm



THIS IS "DELIBERATION?"  Nope.  That will come at the end of May...
A frustrating experience to watch - no one's fault, just the unknowns out of our control made it painful to watch...we note that we are
in step, we think, with other communities in assessing - or more accurately, prognosticating what the State of CT will mandate.



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CLICK ABOVE TO PLAY-BY-PLAY OF BOARD OF FINANCE PUBLIC HEARING 5-2-20

Special Board of Finance Meeting
Tuesday April 7, 2020 at 7:30pm
Agenda and backup



Present:  Allen, Jeff, Greg, Steve, Dick, Amy, Rone;  Chris, Jonathan, members of the Board of Education.

Saturday April 25 Public Hearing, April 30th approve the budget.  Set the mil rate.

Jeff:  Maybe we should not vote tonight.  Allen agrees.  Rone - don't hold back.  Be open.  The people have to know where the Finance
Board.  Dick - in an unusual state.  We have to make it clear.  Steve:  How it relates to town.  Amy:  Be open. 

POST CARD.  With the disclaimer that it can change after public hearing.

Steve:  Meeting for public via conference call.  9am to noon; Thursday April 30th vote and set mill rate.  Environment to come:

Potential to find ourselves with lower tax collection;  social services - increased number of basic needs for citizens (track unemployment);
Emergency Services - we should create stock pile of PPE

Rone:  Assumptions about revenue from CT.  SOCIAL SERVICE & EMERGENCY SERVICE:  Address it in the current budget?  Is it better
to do a special appropriation? 

Chris:  No one could model this.  Build in more resiliency.

BOARD OF SELECTMEN'S BUDGET:  Jonathan describes it.  $550k road construction to capital plus $350k.  Rone questions
all the $$ for roads.  Dick - leave the $550k as it was and delay.  Allen - is there a consensus?  Steve doesn't think so.  Allen thinks we
should stick with the plan of making the Town better.  Amy agrees with Allen - take the long view.  Rone and Greg and Jeff agrees.

TOWN SIDE:  Rone, Amy, Allen, Dick, Jeff, Greg, Steve.  Investment income down.  Nothing more. 

BOARD OF EDUCATION:  A person could get a headache listening to this.  Schools are closed but we are not saving any money.  How
much are we saving?  Can't save money.  How is distance learning going?  Are we saving anything?  Dick:  Congratulates for how it
has cut.  Steve:  Will school be closed for the rest of the semester?  The colleges are being asked about pass-fail.  Graduation
requirements.  SUV's? 

CAPITAL BUDGET:  Road grader? (Jeff).  Not in anymore.  Police vehicle - Chief Henion explained and so it will not be postponed.

DEBT & INTEREST?  Nada.

1.99% increase, Selectmen;  Capital?  Same.  Ed 2.28 increase%.  Mill rate increase - 1.39%

How much is the dollar amount to go to 0% mil rate? (Jeff).  One-million dollars to cut to get to 0%.  We should figure out how to get
to zero.  How much to cut to get to 1% (Allen)?  $250k.  Rone - take $200k from Town, $800k from Education budget to cut a million$$.

Minutes:   Dick, Greg, both meetings.

ADJOURNED:  9:18pm.

 

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SPECIAL BOARD OF FINANCE MEETING Thursday, March 26, 2020 at 3pm...



Rescheduled from the 24th...we "virtually" attended this meeting.  Previous discussion here.

PRESENT: Rick Darling, Rone Baldwin, Greg Murphy, Dick Bochinski, Steve Ezzes, Allan Graubert, Jeff Farr, Amy Gare.  Plus
Karen Paulson (Wells Fargo).  We were also on the line - as were some others, we think (not identified - we heard "pings").

Began 3:01pm

Steve:  Portfolio allocation?  What are you telling your clients long and short

Karen:  Hard to know.  Steepest plunge.  Recession right now.  3.2 jobless claims.  Question - how sharp how deep and turnaround? 
No one knows.  Views  - potentially back half of the recovery in a U-shape.  Or a V-shape.  Plan for volatility.  As of yesterday down 23%.
Market shrugged off jobless claims.  Equities routed.  Fixed income - liquidity - nowhere to hide.  Good news Fed throwing the kitchen
sink - having some positive effect.  DON'T TIME MARKET.  Staying the course.  Things can turn around.  Run for the hills not a good
idea.  BEAR MARKET.  Be strategic.  Stick to policy.  35% down in equities.

Rone:  How frequently to re-balance?  At 5%?  Weight more to equities - holdings OPEB  $10 mil to $8 - 12% decline (year end). 

Dick:  Where was our peak Feb. 20 - really 16-17%.  Should we keep the target?

Greg:  Bottom?  "Black Swan?"  What about assets - such a large amount International and Real Estate?

Karen:  You already have US and non-US balance.  Don't abandon foreign or real estate.  Yield opportunity.

Allan:  Magnitude of stimulus...inflation might pick up?  Karen:  Not worried about inflation.

Jeff:  What is Weston's liability?  Rick - retirement costs - at 5 3/4%,  $9.3 million.

Rone:  When do we have to lock down rates?  Are we underfunded?  Rick - yes BUT - we are one of top funded OPEB.  Capital appreciation
needed.

Rick:  Actuary will show it - are we using it (OPEB contributions) for something else (Rone)?  Yes.

Greg:  Are we not accruing?  Rick - we are actually doing it by paying medical bills.

Steve:  We should leave asset allocation - grow into equity?  Re-balance gradually.  Karen - good or bad day...take half of overweight in fixed
income back to market.  Steve:  Does anyone want to do what Greg suggested?  Get out of real estate plus closer to U.S. - not international.
Favor China.  S&P 500 instead of real estate (R.E.E.T.)?  Large caps better.  Rone:  Get out of real estate.  And stick with it.

Dick:  11 yrs ago portfolio decisions made.  International and R.E.E.T.  Shouldn't be done unless you are going to stay with it.  Re-balance

Amy: Agrees with Jeff (below) 

Jeff:  Let it be.  Allen agrees.

Karen:  Do the half now. Fixed 48.5

Motion:  Re-balance OPEB to 48.5 fixed, transfer to Vanguard Fund.  Motion, second, then approved unanimously.

Steve:  Governor has allowed Finance Board to set budget.
 
Instead of public hearing as usual, it will be "PHONE IN -WITH  MODERATOR" details to be finalized. 

An example we noticed on CT-N is here:  http://www.ctn.state.ct.us/ctnplayer.asp?odID=17278

NEW BUDGET PROCESS DATES:
April 9th???  Have call in public hearing Saturday April 25th 9am to 12 noon.  April 30th "deliberation."
May 7th set budget.  Then there was a discussion about progress in reducing voluntarily the numbers presented both Town and School..

ADJOURNED at 4:10pm

Note:  We corrected typos, added BOLDFACE for those we thought we heard were emphasized - 10am Friday 3-27-20.
NOTE #2 - Perhaps this is how it might work - 1pm Friday 3-27-20...nope!  At Board of Selectmen April 2, 2020...
NOTE #3 - Board of Selectmen April 2nd approves new schedule


__________________________________________________________________________________________________________________________





We will be listening to this meeting using links above to this "conference call."  Since we watch the Legislature and take notes, we
are very used to "remote participation."

Things to watch for tonight:  "Decision" on road paving, "decision" that lets us know how the present market turmoil affects OPEB.  Minutes OK.

Present (not participating and/or not listening [muted] to Executive Session):  Allen Swerdlowe, Ted Craft, Margaret Wirtenberg.  Executive
Session over @6:45p.m.;

Present at meeting:  Amy Gare, Steve Ezzes, Jeff Farr, Greg Murphy, Rone Baldwin, Allen Graubert,  Dick Bochinski - all seven members of
the Board of Finance;  Tony Pesco and another from Ed Board, Superintendent of Schools Mckersie,  Mike DelMastro, Phil Cross; 
Town of Weston - Chris Spaulding, Jonathan Luiz, Rick Darling;  Allen Swerdlowe, Building Committee.

DISCUSSION:  Town participation in Board of Finance Public Hearing vital.  It will be rescheduled (missed required timing);
PH conference call method.  E-mail in to town hall questions, phone line opens 30 minutes prior to meeting.

PROTOCOL:  Say your name first;  as this is being recorded. Material online and post-meeting recording available. 
ATBM can't be held.  Referendum, yes.  COST says since Board of Finance sets mil rate - referendum settles it.  Assume this COVID-19 will
go on for a while.  102 cases in Fairfield County. 

Dick:  PH - people like to make comments - e-mail comments. 

POST CARD MAILER announcing procedure to be sent out.  CODE RED can be used to tell people where to get info.  Non-essential staff
not showing up to Town Hall.  Drop boxes used to transmit information.

BOARD OF EDUCATION BUDGET:  Impact - no increase?   Tony - Bill - not interested in reducing it any further.  "Lean" now.  Amy:  Any
cost savings - epidemic?  Ancillary services yes.  Jeff:  1)Transportation?  Phil:  Contract guaranteed.  Bill - getting a legal read by days.
2)Mr Bray left - was his $$ in it?  Balance not? 

  
Chena barks, sent to Principal's office.

Allen:  1)How many library specialists?  Ken: 4.  How about 3?  No - Tony.  Ken  - all are essential.  Dick:  1)Things have changed so
far so fast with 401k down.  Budget flattened.  No capital budget.  Budget so low for the next few years.  We're back to a tough time.
Tony, Bill - DISTANCE LEARNING:  How will it affect things next year.  Dick:  2)Somehow we did it 10 years ago.  Greg:  Echo Dick.  A
different world.  Get closer to zero.  Dick:  One difference - special ed budget.  Steve - transportation is too big - must be a better way.
Tony recognizes this.  Jeff:  1)Assumptions in school budget...non-union increases?  Jeff:  2)Sales across town  Continuing deterioration
in grand list - agrees with Greg.  Amy:  Don't be penny wise and pound foolish.  Allen:  So do nothing to lower it?

CAPITAL BUDGET PENCIL SHARPENING TIME
             
HIGH SCHOOL ROOF REPAIR, Hurlbutt:  Allen Swerdlowe:  Update.  Bad news & good news. 

$115k water heaters done by Mike Delmastro (r) - chiller Hurlbutt.  $180k drive-by budget.  $250k not to exceed. 

H.S. Roof - leaks, mold, interior damage.  Warranties ?  YES.  Concrete deterioration:  Rebar exposed; rust - creates failures.  Design - $8500.  

1st too high;  2nd consultant on facade repairs - $475k. 

3rd - Howard Zimmermann Co. suggested Master Plan, cut cost again.  Expect couple/few thousand less (@$300k).  $5500 for estimate.
Maintenance in-house if possible going forward is the plan. 

Greg:  Sounds good.  Rone:  Downing the costs on so many projects!!! 

TOWN/SCHOOL IDEAS FOR CAPITAL BUDGET REDUCTIONS:
Jeff:  Anything capital that can be delayed?  Allen:  Do we have a better number capital savings from last year?  Phil, no.  Jeff:  South House
Asbestos, a wash. 

Jonathan:  Tractor mower item under previous draft - $70k - now $37k by present staff.  New staff - replace dump body only, no new dump truck. 
$27.5k savings. 

Steve:  Can they cut Police vehicles?  No.  New Chief does more patrolling.  Onion Barn puddle?  And trees, plantings galleys, emergency
exit for firetruck, police and EMS. 

Allen:  Savings from rollovers total $182k savings.  H.S. Roof under $350k from higher number.  $365k credit. $439k?
Rick will run the numbers.  Now Town side 1.67% (minus more - we didn't catch this).

Jonathan:  More reductions:  $10k cut general admin.  WWHD - Easton will join - our budget $35k less.  $10k general budget for OPEB item
$329k transfer to smooth health insurance to OPEB.  $20k close the pond at Bisceglie.because of COVID-19    $75k total reductions.
Health Insurance down.

ROAD PAVING:  Steve sets the table...$350k for 3 years and then a big number.  Allen - bonding, general fund???  Municipal Bond
market - Dick:  The idea of bonding not appealing any more.  Not this year.  Financial stress.  Rone:  If we are concerned about
Town financial system...  Allen:  The world is not going to end.

ASSET ALLOCATIONS:  Investment 5 3/4%, asset allocation should stay put.  Equity markets recovery conversation.  When the
reverse will come.

Minutes Feb. 13 - Rone, sec, approved after condirming that the minutes show that decision had been made on asset allocation.

Adjourned, 9:05pm. 


__________________________________________________________________________________________________________________________________



BOARD OF FINANCE REVIEW OF EDUCATION BUDGET
We note that every member of Finance Board took part.  Chair. encouraged his members to speak up.  And reminded Board of Education
that they were there to answer questions and not "sell" their budget.  We note new cooperation with Building Committee.



We found out later that we had missed the speakerphone contribution from construction specialist on W.H.S. old roof (after we left).

____________________________________________________________________________________________________


BOARD OF FINANCE REVIEW OF SELECTMEN'S BUDGET



________________________________________________________________________________________________________________

BOARD OF FINANCE
Thursday Feb. 13, 2020 at 7:30pm
Town Hall Meeting Room

AGENDA:  http://www.westonct.gov/media/file/BOFAgenda021320.pdf


Regular report
Board of Education financial reporting discussion with B.O.E. was done first.


WHY WE NEED THIS
Road standards ratings report - BETA group presented  tutorial to Finance 2-13-20.


WHAT CAN WE AFFORD - BRING ROADS UP TO 70% RATING
Because there are several ways to do this with financial implications. 
  • Immediate bond then lesser amounts for multiple years;
  • Steady amount for 10 year;
  • Somewhat larger amount until existing bonds go away, then a couple-few million to finish bringing roads up to 70%..

2 new dump trucks that are "sustainabitity friendly" - a "yes" vote.
Use spare parts - all Weston DPW trucks the same brand - interchangeable parts.

OPEB report - discussion of portfolio balancing and approval of minutes done.

Adjourned 9pm.
 
_______________________________________________________________________________________________________________________________________


Special Board of Finance
Thursday Jan. 23, 2020 - 7:30pm
Town Hall Meeting Room

AGENDA:  http://www.westonct.gov/media/file/BOFSpecialAgenda012320.pdf


ELECTION OF OFFICERS 2020 - Re-affirmed. 

ELECTION OF OFFICERS
     
Investment portfolio manager discussion.  At right, Fire Chief, members of the department listen...
Reports 20% increase in bull market, recommends "re-balancing portfolio" to hedge against end of bull market.



THE BIG ITEM:  PUBLIC SAFETY FACILITY - EMS HEADQUARTERS.  History of what happened when to come...
I finally understood: 
  • Since the Selectmen were asking to spend more than 2% of FY'20 budget,
  • Even though in time it may not be that expensive with gifts to be finalized at the end of the project,
  • Not to mention other $$ flowing back to the Town (see next item), the Town Charter says...
  • Special Town Meeting needed.  Finance Board sets $$ amount and votes unanimously to approve call "("item #1").
 
THE EXPLANATION
So where will we getting money to make sure we retain AAA rating?  Does "wealth" of taxpayers, not Grand List, matter more?
  • Finance Board explains it isn't as simple as the bare number/% of surplus as it relates to last year's budget.
  • With the full cost of the facilities just approved, conservative calculation leaves us at the mid-point of standards in the industry. 
  • Totally open and frank discussion.  TAX SALE coming again, eventually ALT to return price of Fromson-Strassler;
  • And possible other grants in the works...
  • PLUS the Special Committee on DPW has a report for Finance Board soon...

Adjourned 9PM.

______________________________________________________________________________________________________________________



Special Board of Finance
Thursday Dec. 19, 2019 at 7:30pm
Town Hall Commission Room
 

  



The schedule for FY21 Budget Season is set. 

There are 3 parts to Weston budget-making process:


Agenda order changed.  Why?  Because Board of Selectmen underway at the exact same time.  Town Administrator and Town
Director of Finance present throughout.


Board of Education item went first.  New Director of Finance reported $500,000 of red ink at this point.


Next was auditor's report for last fiscal year for Town of Weston.

Discussion of how to go about paying for and managing Public Safety Facility-EMS
  • Bids good for 60 days from Dec. 12, 2019.  Some questioned if it could not be extended.
  • Building Committee to manage for the Town - that's what I picked up.  Project Manager experienced guy from RLF (Tomlinson)
What else is on the horizon?  When will the Town know about this?
  • NOT PART OF BIG PROJECT:  Scaled back dispatch center $75k Special Town Meeting once communications piece decided. 
  • NOT PART OF BIG PROJECT:  And another for records storage @$75k.
  • Decision to be announced - Radio – Telecommunications:  January 2, 2020 Selectmen vote;
  • THEN...2 or 3 weeks later, Special Town Meeting on Public Safety-EMS – figure January 20, 2020.
Got that?


____________________________________________________________________________________________________________________________________

BID OPENING 2pm for Public Service Facility
REGULAR BOARD OF FINANCE MEETING DEC. 12, 2019 CANCELLED


______________________________________________________________________________________________________________________________________


BOARD OF FINANCE
November 14, 2019 at 7:30pm,
Town Hall Meeting Room

   

Something for everyone in this 2 hour meeting:  http://www.westonct.gov/media/file/BOF111419.pdf

1.  Report on bond refunding - all bonds for school construction etc. should be finished in 1.67 (average) years - refinancing brought in
about the same amount of money that #3 cost;  close up.

2.  Schools financial report:  Superintendent (l) reported his new hires working out well (Directors of Operations and now Finance), plus
Special Ed holding steady.


Participants on Finance Board (left and center) test Mr. Conte, who passed ("we'd close Valley Forge")!  Shock & awe (r).
3.  Special Appropriation for repair to Valley Forge Road - the long part of the agenda - unanimous "yes" but not after putting Town
Engineer/DPW Director Conte thru his paces - check pix above and here;  presentation earlier at the  Police Commission & Selectmen.

4.  EMS/Fire/Police project - bids to come in Dec. 12, communications work separate - seeking to get best price and service package
for our needs - separate from the larger project.

5.  General reporting on Town finances:  Director of Finance for Town gives conservative projections;

6.  Approval of minutes September and October - done.

_____________________________________________________________________________________________________________________________________________



BOARDS OF FINANCE/SELECTMEN OCT. 3, 2019:  http://www.westonct.gov/media/file/10-3-19BOFSpecialMeetingAgenda.pdf

 
Only one member (Murphy) present in the flesh - we heard on speakerphone - Commissioners Ezzes, Bochinski, Grauberd and Farr.

Road repair cost required special meeting for Finance to approve, which both boards did separately.

After the Selectmen approved the bonding proposal for ultimate issuance in June 2020 if they chose to do so at rate commitment now,
Board of Finance voted separately.




__________________________________________________________________________________________________________________________________



BOARDS OF FINANCE/SELECTMEN SEPT. 12, 2019

We were at the "ballot lottery" when this got posted!

JOINT MEETING: Board of Finance/Board of Selectmen
Town Hall Meeting Room, September 12, 2019, 7:30pm


SHOULD THERE BE A BOND ISSUE INSTEAD?
With reassurances that this was a good thing - and a terrific investment for the town - Finance Board had approved effectively doubling the road
paving and milling program (from last year's $$).  But...

 
ROADS SHOULD BE TOWN PRIORITY AGAIN. 
  • Finance Board takes a dim view of spending any money that can't be fully justified.
  • They want to be sure they know all there is to know about every penny of the investment, and they are adamant...
  • 3-2 NOT TO DO ALL OF STEEP HILL (although we didn't hear it or see hands raised, Weston Today reported this vote)..
  • Steep Hill Road "on the cusp" - and one of a few crosstown roads - but the Finance Board is really tough on Special Appropriations.

 
DEBATE ABOUT DIESEL ENGINES IN TOWN TRUCKS/GRANT APPLICATION FOR VOLKSWAGEN $$
Competitive grant which we may not get, but if we are fortunate enough to get high rating on application this could
definitively brand Weston as a "sustainable community ."  Lots of new language on this subject in 2019 Implementer Bill.

Cybersecurity for Town side and Education side of government to be studied by Town Administrator - to seek consultant for assessment.

Report from Director of Finance (in top photo at right) on end of year "closing the books" - to be finalized next month - looking positive.



_______________________________________________________________________________________________________________________________________


Board of Finance Special Meeting (this is neither the 2nd nor the 4th Thursday)
Thursday June 20, 2019 at 7:30pm in the Town Hall Meeting Room - Selectmen posted it in part, as well.


Special Board of Finance met w/without Selectmen.  Agenda (l), River Road work (r).

This meeting covered many topics.  First was an explanation of why Town Engineer was proposing this at this time...

THANK YOU C.G.A.
Two items were Special Appropriations from the Selectmen - item #1 for roads and #2 for explaining a previously behind closed doors matter.
A Special Selectmen Meeting was posted as well.  For the first 2 listed items.  A quorum of Selectmen included 2 members on speakerphone.



C.G.A. continued - highways in town and their condition explained by new Director of Public Works, and a plan.
Sequenced votes (first by Selectmen, 2nd Finance) were taken for #1, additional road paving - to be paid for because Connecticut's budget
included some ECS funds, and two other $$ sources not expected, and thus paid for this work.

RIVER ROAD REPAIR
Full explanation of why how and how much by Town Engineer.  Suggestion that intensity a storms plus CTDOT not increasing
detention capacity of culverts after Eversource work contributing to the problem?  As we have thought, the 25 yr storm capacity of the
existing drainage (confirmed above) in Route 57 likely contributed.


"LONGSHORE LITE?"

#2 was not take in order but near the end and concerned a public explanation of the process investigating real estate purchase, which is
apparently dead for now.  No vote to do an "environmental review" for $75k.  Analysis of feasibility of how to go about running this facility if
acquired - underway, in-house.

   
Other business: 
Board of Education report on their budget "actuals." Tax Collector "suspense list."  Resignation (r.).

Minutes of previous meeting approved.  Adjourned @9:15pm.


______________________________________________________________________________________________________________


MAY 9, 2019 at 7:30 in the Commission Room - Selectmen meeting in the Meeting Room on Town TV.
AGENDA matters of interest to About Town:
  • First item setting the mil rate.  Although we were not in the room, we were informed that the mil rate for FY'20 is 32.37 (98% collections).
  • Then a series of items that would make your head spin, no doubt.  Including funding for driveway at Lachat.
  • Also reimbursement request by Board of Education for emergency repairs to Zenon Plant and other parts of the School Road infrastructure.
  • Joint Executive Session on "real estate."


_______________________________________________________________________________________________________________

Executive Session at 7pm...

DELIBERATION MEETING AGENDA:  http://www.westonct.gov/media/file/BoardofFinanceagenda4-2-19.pdf
Please note that this meeting is posted as a "special" Board of Finance meeting and begins at 7pm with an executive session on school security.
As good as their word, Finance Board finished closed-door pow-wow with schools, police on School Security ("mum's the word").

Not all votes were unanimous on the section of the budget (Town, School and Capital).  Chair. said they would only consider the Weston budget
and not get into wondering what may happen in Hartford...

The bottom line numbers:

3.1% increase over last year.

BUT...really 10.14% increase when reval numbers (7% drop in total property value) included (fuzzy math?). 

2.48% if no reval had taken place, we think we heard that right..

__________________________________________________________________________________________________________________

PUBLIC HEARING

Board of Finance Public Hearing March 26, 2019 over after 80 minutes, 9 questions/statements.
Superintendent let the Board know that the septic emergency at one of the buildings has been resolved almost.  Bill coming within 30 days.



WHAT DID THEY HEAR?  WHAT DO THEY PLAN TO DO?
"Deliberation" meeting coming April 2, 2019 at 7:30pm, Town Hall Meeting Room Anticipated NEXT bond issue (in 3 years) should take
up roads, roofs and other nagging Town side matters as well as rethinking School Road complex building usage.

We note that the Chair. of the Finance Board opined that perhaps our legislators have not gotten the message yet that they, our words here,
are representing Weston first as well as the other Towns in their districts.

    

Click below for contact information.



___________________________________________________________________________________________________________________



LINK TO VIDEO OF 3-12-19 TRI-BOARD MEETING:  https://vimeo.com/323465873
________________________________________________________________________________________________________________

MARCH 6, 2019 first item.

Prior to considering the Education Budget...
Approval given for new item in budget for Selectmen regarding architectural services for FD/EMS/Police addition.



______________________________________________________________________________________________________________


JOINT MEETING WITH SELECTMEN, 1-28-19, 7:30pm:  http://www.westonct.gov/media/file/1-28-19BOSBOFJointMeetingAgenda.pdf


Tax Assessor at the table with reval company guy in front row.
Finance Board members try to get a handle on what the shrinking of the Grand List means in relation to (my guess) what
they should do with the school budgetSuperintendent of Schools and Chair. of Ed Board as well as chief financial
officer for the school system present in the audience.


CAN TOWN DO IT?  YES.
Finance Director for the Town reports that any benefit from sale of land to A.L.T. (Town Attorney opinion) would happen in the future if and when
a grant is received.  Funds may only be "spent" to defray Capital items or to reduce property taxes (and one more which we didn't catch). 
Very sharp new member of Board of Finance asks terrific questions.
_________________________________________________________________________________________________________________

BOARD OF FINANCE
January 10, 2019, 7:30pm
Town Hall Meeting Room

AGENDA:    http://www.westonct.gov/media/file/BOFagenda011019.pdf

Two hours.  Very varied and interesting meeting.

Starting at the top, item added on election of officers - Steve Ezzes re-elected Chair., and Rone Baldwin voted new Vice-Chair.

  
OPEB Trust and Town Audit next. 
Q&A:  A bad year for OPEB fund.  We didn't catch how much money is in the OPEB Trust.  Audit only samples departments (not shown).

    
Board of Finance January 10, 2019 - Elections added to agenda - Steve Ezzes, Chair., Rone Baldwin, Vice-Chair.  
Audit very educational!  New member (r) ask "why?"

Not in order:

  • Board of Finance approves motion regarding match to grant for Library interna/ external improvements pending decision by Library Board.
  • OPEB fund/portfolio discussion with investment specialist, (not shown) and audit discussion with a second firm.
  • Note that Finance asked for review of financial/legal papers to come in advance of Selectmen's action on Fromson-Strassler.


BOARD OF EDUCATION REPORTS QUARTERLY
You could feel the tension in the room as Superintendent states that the full budget is online for all to see NOW.  New member asks how
he can get to the minutes of the Board of Ed - good question!  I can get to the agenda...since the Finance Board bailed out the Ed Board
last year with a two-million dollar special appropriation related to Special Education services, perhaps relating to a lawsuit settlement or not,
as far as I can tell, things haven't changed.  Answering the question about percentage of Special Ed kids, new Director says 10% (14% CT).
Out-placements up or down?  Better communication early?

Finance Board approved the $26k amount of Town contribution to Library Grant match without having a decision from Library Board - wording
conditional.  Town presented case for selling town property - just a discussion.


__________________________________________________________________________________________________________________

SPECIAL BOARD OF FINANCE
December 6, 2018
Town Hall Meeting Room

AGENDA:  http://www.westonct.gov/media/file/BOFAgenda12-6-18.pdf


FOUR ITEMS OTHER THAN "OTHER" AND APPROVAL OF MINUTES ON AGENDA:
Board of Finance at full complement of members for this special meeting December 6, 2018 (one week earlier).

First remarks regarding Jerry Sargent resignation (he is retiring and moving out of town). Comment on Brian Gordon's intimely passing.
Then the fun began after... 


    
Welcome to new members Jeff Farr and Greg Murphy.



STILL A CROWD - BUT DIFFERENT FOLKS FROM THE AFTERNOON SELECTMEN'S MEETING...
We note that there was high attendance level from Boards and Commissions who were party to these grants.


Town Administrator pitches encumbering the "matching funds"
As forwhy to do this - it was suggested and from past experience he knows it is true, that funding sources like to see their grants
used and not just sit there waiting for the 10% town match.  Another thing no one wanted to mention is that if funds are so
encumbered, then if the Legislature "sweeps" funds next Session, perhaps they can't take those spoken for with "match" commitments???

 
LAST CAME THE TRAILS REDO GRANT
Someone in the audience asked if there was a plan for Bisceglie or was it just a "one-off" each time things were done there?  The answer
was provided by Parks & Rec Director, who I thought answered most diplomatically, speaking up nicely!

Of course, the alarm shown on the faces of Town Officials was because the Library grant had provoked the most uncivil attack we'd heard
in a long time.  No picture included because we're not trying to pour gasoline on the flames - any more than had already happened.  If
memory serves, something similar had occurred earlier in the year...to the Board of Education no less!  No one ever said the Board of
Finance lacked the spine or were not capable of saying "no" to anyone!

But usually some compromise comes out of their objections - because in Weston no one is looking to spend money on anything except
schools.  Especially the Board of Finance.

________________________________________________________________________________________________________________


BOARD OF FINANCE
November 8, 2018 at 7:30pm
Commission Room at Town Hall - WE UNDERSTAND THAT THIS WILL BE MOVED TO THE MEETING ROOM...AND IT WAS

AGENDA:  http://www.westonct.gov/media/file/BOFagenda110818.pdf
Interesting back and forth of how to pay for the project (surplus draw down) as well as time-line (4 months) until project goes
to Special Town Meeting - unless Town Attorney can figure out how to bypass the Charter.  Discussion of need for a Tri-Board
Meeting with Selectmen and Education to set goal for budget increase.  Fall out from new assessments?.


This was a very low key event but so important!  Hard working Town staff reviews where we stand with the bottom line of the budget year just
completed  re:  "Tax Sale" included in both the old and new fiscal years.



Board of Finance listens to Town Administrator and Finance Director regarding the wisdom of draw down proposal.for Public Service Complex.

    

Related to Historic District Number One issue?  

TOWN TV HERE
_________________________________________________________________________________________________________________



REGULAR MEETING/JOINT MEETING FOR INTRO OF F.D. E.M.S. PROPOSAL
October 18, 2018
Town Hall Meeting Room (5 members present, (one on speakerphone)

May 11, 2020 news:  Here today, gone tomorrow department.
  • Gone to Westport, Mike Rizzo now (having come there to begin with?) to join
  • New Westport Superintendent (former Assistant Super in Weston) who went on to lead Madison as its Superintendent...


SPECIAL EDUCATION PROTOCOL and eye opener for some in Finance.
(L) Special Education leader whose title and support staff costs big bucks; Superintendent gives bimonthly report on his budget status..



Just because the Building Committee thinks it is efficient use of $$...
Mixing regular business with "joint" matters, Finance dealt with regular report from Board of Education, who always say they have no
discretionary funds so they need more.  Which in the case of unspent funds from a Capital Project, desired to re-use these $$ for structural
repairs to W.I.S. and another building.  This will be the topic of a future Special Meeting.


IF AT FIRST THEY DON'T SUCCEED...AGAIN?
Doesn't all of this sort of remind you of the fairy tale of the  "Three Wishes?"  This is the third version of this concept...they went for a
walk of the project prior to resuming the Finance Board Meeting.

They could make this into a movie - "The Pitch?"                           

    
FIRE DEPARTMENT/EMS
That was a good try, but the Board of Finance takes its job seriously and is not about to "bless" anything with no back-up numbers.

Maybe 10pm or even a bit later?  So the Finance Board suggested a Special Meeting - or just reserving the Nov. 8th next meeting to
only this item.   And show them the money, as it were.


______________________________________________________________________________________________________________



Special Board of Finance
Tuesday Sept. 4, 2018 at 7:30pm
Town Hall Meeting Room

AGENDA


4-2 vote  approving $27k for supplemental for Town Plan update.  The "no" votes were from two members who find fault with the idea
to "plan" for a larger center.  One demanded a better understanding of fiscal health of the community, and the other objected to "planning"
for private commercial property with tax dollars.  Each member present spoke.

The agenda went out of order because the item on sidewalk grant related to Town Plan.  Finance members were wary that this could, if
not handled correctly, be a waste of money unless coordinated properly.

BRAVO!!!  CT finally came through with $$ - for sidewalks - or at lease planning for them.  Application made by new Town Administrator
during previous administration - that had required OK from Finance to proceed, if memory serves.

Then came the long discussion and decision (we left before the end of this item) re:  Refinancing debt.


A LONG DAY.
The First Selectman and Town Administrator had additional items to discuss.  Who knew we could snag this grant?


SIDEWALK GRANT INCLUDED IN CT BOND PACKAGE? 
Combine it with previous WestCOG (SWRPA) intersection studies for traffic light at School Road...

The agenda  included a number of other items and substitutes for their regular meeting next week.  To be reported upon soon:  Items after 9pm.


WGTV HELPED US OUT HERE!!!
The next day we watched the video.  The "tax sale" was discussed (above) as well as... report of the impending move out of town
by a member, who made his announcement at the very end.



_____________________________________________________________________________________________________________

Board of Finance
Thursday July 12, 2018
Town Hall Meeting Room

AGENDA:

A long meeting.  Ended at 9:43pm after commencing at 7:30pm.  On WGTV.

Although Exec. Session seemed like 90 minutes it was only an hour plus.  Discussion continued about it after Executive. Session,
with motion made and seconded.  Board of Education and the P.D. participated ("where is the other $35K?"). 

Considering that the answer to all questions about finding that amount in approved budgets came down to "the unionized workers have
legal agreements that can't be broached," it is no surprise that there was an agreement to disagree and a "yes" vote reluctantly.  If the
member who was most adamant regarding the "double payment" for I.T. services from the Town (Police) and the Board of Education be
expunged had not relented, it would have been a 3-3 tie, and thus the motion would have failed (items #3 and #4 on the agenda).

  

When is a property tax exempt?

So while we were outside for the hour plus, we had time to do a close up of each property...shown above right.  They will be auctioned
on September 12th, at 10am in Town Hall.  The range of amounts in tax arrears vary from @$63,000 to @$200,000 per property.  Our
questions:
  • Five (5) of the vacant properties appear to be in a group of lots on the same dead end street.  Are they in an approved subdivision? 
  • Plus one other property on the list appears related  to the above.
  • Does a 501 (c) (3) owning property have to pay property tax?  
 


The Executive Session that seemed as if it never ended did so. 
Muffled with the doors shut, it went on in open session, fueled by frustratration.  Silent coaching from
others who were not allowed to speak made a difference. A Board or Commission was present in numbers
equaling a quorum.  (Only 2 allowed to represent their case - this we suspect was advice received
from the Freedom of Information Commission staff...just guessing!) 

In any event, Police staff present did a fine job making the case - and won the day, IMHO.

A divided Finance Board split 4-2.  Boards of Education and Police got a "yes" on agenda as item #3 and #4



 
Analysis of what Short Session did to Weston - POSTPONED FROM LAST MEETING
After previous discussion above, Director of Finance reported a payment just in from the State of CT for $334,000 in education funding.

If I recall correctly, the Board of Education had zeroed out any State ECS funding - altho' the other shoe has not dropped regarding adjustment
to Special Ed.  Wait until after Election Day Nov. 6th for that.



_______________________________________________________________________________________________________________

Board of Finance
Thursday, June 14, 2018
Town Hall Meeting Room

AGENDA

PLEASE NOTE THAT ABOUT TOWN ALWAYS TAKES THE SIDE OF THE TOWN OF WESTON.

Full attendance by Board of Finance, who were uniformly not in a good mood.

A three hour meeting that covered some very important matters and ended up putting off a decision on Police-School proposal and postponing
other discussion until July meeting if not sooner.  Two items particularly took time.

One was the on again off again I.T. set up - currently the schools take care of both Town and School I.T. needs and are paid to do IT.
This began with the "divorce" report at a previous meeting - the Town set about finding another way to handle their internet business when they
were summarily informed that the Board of Education didn't have time for them anymore, understandably, with increased IT needs at schools.

And what was the school's plan to sever the relationship?  We don't know - but somehow demands were altered.  What changed? 
Perhaps it isn't so easy to snap your fingers, play with old communication plans and throw Town Government, as it appeared to me, under the
bus?


First up was discussion of the Suspense List.  We asked for and received a copy.
The Tax Collector reviewed this document with the Finance Board, bottom line, six pages of taxes due worth less than the cost of pursuing
payment? 


I.T. plan redo 
Which is now back to a plan where Town and Schools will coordinate in the "cloud" and money will have to be reshuffledThe idea
that anyone might refer to this as "shuffling" is anathema to Finance Boards - and they rightly wanted to know where the $$
already approved was going to fit with other Town/Schools funds.





INCREASES FOR SAFETY PREVIOUSLY HAD BEEN IGNORED...AT FINANCE PUBLIC HEARING.
Then the entire audience almost came to the table including School Superintendent and Police Chief and Captain, Police Commission,
Board of Education Chair. participated from second row as did First Selectman in the 3rd row, Town Administrator 4th row.  It began with the
Chair. stating all the different reasons why this was a great idea...except for the optics.  Would this have meant having to cut something
else in the FY'19 budget after the public hearing?


POLICE/BOARD OF EDUCATION  PRIOR DISCUSSIONS
This item took more than an hour and was headed for a big "no way no how" so soon after FY'19 Budget approved for next year.  Those
who had served on the Board of Education and now represented the Finance Board plus those who usually agree to disagree were in accord.

The other items - round up of what happened in Hartford - put off (especially considering that there will be a VETO OVERRIDE SESSION
coming June 25).

Portfolio update and approval of the previous meeting minutes were added to the agenda for their first Regular Meeting in July - the second
Thursday of the month, we believe.

__________________________________________________________________________________________________________________


APRIL 12, 2018, 7:30pm.  Board of Finance meetng over an hour.  Got your Charter?  What if we need a bundle pre-FY'19?

     
With a couple of months left in FY'18,only $176,000 remains.  Need more $$?  Must have a Special Town Meeting to approve it., IIRC.

WOULD YOU BELIEVE WESTON HAS SPENT @90% OF ALLOWABLE SUPPLEMENTAL APPROPRIATIONS?  (2% of how much???)
  • Board of Finance grants supplemental appropriation of $1,100,000 to Board of Education (rev. from "1.7").  
  • Approved 2 new cars for the Police - who have developed a new way to calculate their use of Town cars for private work on roads, etc. 
  • Gets end of year estimates from Finance Director and discusses tax liens sales program.
As it happens, since the Board of Selectmen did not approve the second request for a supplemental appropriation from the Board of Education
at their meeting April 5th, it did not come up tonight at Finance.

___________________________________________________________________________________________________________________




THANK YOU TOWER COMMITTEE FOR PUTTING THE TOWER RIGHT WHERE WE NEED IT
Well now, we finally got to watch and listen to the more audible version of the Board of Finance meeting March 14, 2018!!!









Special Meeting of the Board of Finance
Town Hall Meeting Room
Wednesday, Jan. 24, 2018, 3:45pm (on Town TV, too)

Agenda above.  Quorum Present with Chair. on speakerphone.  First Selectman describes the situation.  Others on the line as well with
specialization in Virtual Net Metering and contracts. 

After an hour, the Finance Board felt comfortable in endorsing the venture (having up to 2 megawatts of solar energy credits from Windham
Solar LLC, solar farm about to open, we think.  Next stop is full approval from the Boards of Selectmen Jan. 25th at 5pm* and Education by
Monday. **

At least that's what we heard.

Make that 6pm - report here.
** 
Note that the date of the Special Board of Education meeting moved up to Friday (Monday might have been OK since it is usual practice
to move deadlines ahead if weekends interfere).  But I am more comfortable having this decision made within the framework of the original
timeline - it avoids any unnecessary complications (no bureaucratic trickery).

__________________________________________________________________________________________________________________


BOARD OF FINANCE
Town Hall Meeting Room
Thursday, January 11, 2018

AGENDA

What happened? 
Not on Town TV.  "About Town" was the only member of the public present who was not representing an item on the agenda.

Election of Officers

Steve Ezzes re-elected Chair. of Finance Board, Jerry Sargent re-elected Vice Chair.

A quorum was present by 7:38pm and was brought to order by Dick Bochinski in the absence of both Chair and Vice Chair.


Please check out our page on Town of Weston roofing projects
Discussion/decision ("yes") to hire roofing consultant for Fire Department and Dispatch to prepare for sending the work out to bid.


END OF YEAR BALANCE (2)
How we're doing with $$ invested as well as a report on any more news after Board of Education closed out final School Construction work.
We note that it would behoove the schools to hustle to retain any State of CT grants available because it is almost midnight, Cinderella...


Part of discussion below...
Asks for good explanation for changing long-time lax tax lapse policies.

Tightening up:  Possible tax liens sale...no action

Which exposed the fact that more than a dozen properties are in arrears.  Going back years in some cases.  Could this mean new foreclosures? 
Could it mean the banks paying taxes for already foreclosed properties?  It could mean evictions and sale at auction.  Town we assume would
split the recovery if individuals or banks do not act before auction?

WARNING: 
Board of Education deficit?  Really???
What?  How to deal with this is will be very very interesting.  Maybe we can combine more Town functions with this as an inspiration!

Bridge$ or will it lead to pulling up the "draw bridge" on regional cooperation?

Cavalry Road bridge ($2.6 million project) with Westport.  80% funded by CT, split with Westport 10-10?  Or use State Statute's definition and
apportion the 20% by population (Weston pays less than a third this way - @10.000 pop v. @28,000 pop).  What would Westport do?  Is it
worth the gamble?

"About Town" take on the meeting:
These are the highlights"About Town" notes that Finance Board was not happy that the meeting was not going to be broadcast.  We also
note that what will begin to happen as the Education budget is rolled out next week will have to be done like Kabuki theatre.  Since the reason
for the Superintendent's budget rumored cuts comes from the need to replenish their supportive fund for overages caused by legal matter (?).
We note as well that at a previous report to the Finance Board it was observed that Special Education costs are going to skyrocket.  Just at the
time excess funding from outside sources is, we think or guess, going to dry up for "wealthy" school districts.

Over @9pm.

_________________________________________________________________________________________________________________



Assuming the Selectmen favor it - and we suppose they do since the Town Administrator has been trying for Board of Education
approval (since they will be a big part of making this work), mentioned by Board of Ed tonight, January 16th.



We're interested in item #5 - but we aren't going to venture out...maybe it is on Town TV at 7:30pm?

________________________________________________________________________________________________________________






Thank you, Mr. First Selectman!  An excellent and open report at the Special Meeting of your Board, 12-4-17..

We weren't there because we had a conflict. 

I had assumed the new administration would have a grace period in the wake of a very partisan election.  We note that because the Board
of Education election showed that partisan, perhaps, rancor remained.  We assumed that that would be the case on the Finance Board as well.

But Finance and Education are not the same animal.  Perhaps the makeup of the Finance Board is truly non-Partisan right now?


______________________________________________________________________________________________________________





First meeting after local election...
Board of Finance returned to office intact.  Agenda Nov. 9:  http://www.westonct.gov/media/file/BOFAgenda.pdf

 
Always looking at the bottom line
Police Chief reports of new control measures on spending within the department. Wind storm did some good!  Chair. of Finance Board does math in his head.



 
FYI--things not being discussed out in the open that perhaps cannot be?
Board of Education reports of increase in special education students plus need for big special appropriation.  That's what I like about Finance - the raised eyrbrow.


  
WARNING:  Watch out Weston.
Superintendent answers question on possible special education center.  No one mentioned it, but the CT Supreme Court is about to drop the other shoe...

Reports from Town side and what to look for in the way of help from Hartford...minutes approved.

________________________________________________________________________________________________________________


Thursday, 12 PM, October 12, 2017.



Item one done - approximately $35,000 positive year end balance. 
Item two - agreement that decision did not look imminent for Hartford actors. 

Meeting taped by one member after asking permission.  The question:  Is the decision (if there was one) by the Board of Education and
the invited Board of Finance Chair. on labor negotiations a matter of public record...yet?  When will it be?





________________________________________________________________________________________________________








Board of Finance agenda for Thursday, August 10, 2017,  7:30-10pm not quite over when we left), Town Hall Meeting Room:

A very full agenda.  Top row - first  reports from Director of Finance on end of year, suspense list etc.  And virtual net metering at end.  Since the
July meeting fell during the micro burst power outage (50% out of power) rehash of virtual net metering (we left before they finished @10pm so
we do not know - but in any event, we think participation in the program is ensured for about 6 months for 1 MGW).

The board then scolded the Town Attorney and First Selectman and stated that they were not informed about Town Administrator's solution for
minimizing payment;  objections to not including Board of Finance in executive sessions on handling of increased payments for birds' rescue.
NOTE:  Once you discuss matters from Exec Session with those not present, we think this is technically a no-no on F.O.I. (Middle row.)
 
And then there was anger and ranting and squirming re:  Gov. Malloy (Sec'y Barners' letter) pick-pocket ideas. 

Bottom three photos show the 3 stages of municipal grief:  Anger and "go to hell" approach,  desire not to call attention to Weston perhaps,
and constructive suggestion (r).


____________________________________________________________________________________________________________________





___________________________________________________________________________________________________________________







________________________________________________________________________________________________________________________________________________




At the same time as the Selectmen were meeting in the Town Hall Meeting Room, the Finance Board set the mill rate in the Commission Room!

________________________________________________________________________________________________________________________________________________




S P E C I A L    M E E T I N G    B O A R D    O F    F I N A N C E   T U E S.   A P R I L    1 1 ,   2 0 1 7 ,   9 : 3 0  a . m .
Click on pictures for meeting notes.

________________________________________________________________________________________________________________________________________________





Special Board of Finance
Thursday March 16, 2017, 7:30pm,
Town Hall Meeting Room


Agenda:

1.  Discussions/decision regarding FY 17/18 Budget
2.  Executive Session:  (if necessary) Legal strategy concerning governor’s proposal to shift teacher pension contributions to town of Weston


________________________________________________________________________________________________________________________________________________




PLEASE NOTE THAT THE BOARD OF FINANCE, SOON TO BE A FOUR YEAR TERM OF OFFICE INSTEAD OF SIX YEARS MEETS WITHOUT THE
BENEFIT OF TOWN TV COVERAGE.  NOTE:  TOWN ADMINISTRATOR TAKING NOTES - ANY AUDIO RECORD OF MEETING???

    
Weston wants to bond small capital projects?  Interesting story about this:  https://ucoa.ct.gov/benchmarking/#/comparetowns/2014/2

Connecticut economic condition about to hit Weston head on asks our Board of Finance?


How to begin!  This was a very long meeting with lots said on many subjects.  The Weston FORUM attended, so perhaps there will be a story about what went down.

 

ANIMALS
First on the agenda was the Animal Control subject area.  This is of vital interest to the Board of Finance because the Town has now committed to pay for boarding of birds it
now owns - sent to Rhode Island ornithology expert - rescue organization.  Medical bills to local animal welfare entities paid - APPROVED.


   
ANIMAL CONTROL VAN

It was pointed out by Animal Control Officer that he was asking for a replacement for the main van that had many years and more mileage than was a good idea before the
Town would begin to "incur" (no pun intended) expensive parts replacement.  When grilled, re: maintenance records/bills, it was shown that the Town of Weston mechanic
at the Town garage did the work (time expenses recorded).  Never mind!  Then it was pointed out that the First Selectman a few years ago had cut the request for a new van.
Now, this particular special vehicle was no longer produced with a 4WD option (needed in the northern climate).  Special automobile repair to make it 4WD drove the cost up.
APPROVED.




CLICK ABOVE TO GO STRAIGHT TO THE STATUTES AND MORE BELOW
FINANCING METHODS

Should the Town of Weston bond for capital expenses usually put in the Capital Budget? 


This is what I would call an idea similar to the CT Spending Cap Commission
discussions.  VISIBILITY ISSUE.  In fact, I commend the Finance Board for bringing this up! 

An argument in favor of this idea is that we would pass off to future Westonites the costs of capital budget items ($10,000 or more) we assume, bundled as investment-worthy
bonds.  Of course, it was noted that "reval" next will probably lower property value and thus lower our Grand List, and in order to keep AAA rating we will have to show how little
debt we have.  Are they considering calling bonds, paying them off sooner than the maturation date?

AND ANOTHER SOURCE on the subject
What's up in policy?  Is this legal considering possible numbers for Weston in 2014?
Good thing Acting First Selectman was present to hear this second discussion (he had had a conflicting Special Board of Selectmen's meeting during the first Finance
Board discussion of this topic). 

WHICH BRINGS UP THE IMPORTANCE OF HAVING ALL BOARD OF FINANCE MEETINGS TELEVISED AND RECORDED - THEY ARE NOT NOW.

Which is why I try not to miss seeing them live! 

Finance Board members are very smart and nice Weston residents who are trying to do their job - even when they seem like the biggest bunch of grumpy naysayers in Town -
IMO it is a necessity, now that they are a four-year term board because of Charter Revision - same as Board of Education, THAT THEIR MEETINGS BE ON TOWN TV all year
and not just at BUDGET PROCESS time.


    

TRUMP CARD PLAYED BY BOARD OF FINANCE

For example, after grudgingly spending $21 thousand dollars on birds with more bills to come, and $45K on a truck, and discussing "high finance" new age ways to make
money in order to keep the ship of state afloat,  they kept the Library Building Committee members muzzled.

They beat up on the project to make our 1963 Joe Salerno, modernist library (1983 children's wing, 1994 Community Room) never renovated windows, infrastructure a captive
of a gift bestowed by a late Library lover.  There is a word for this - it is called biting the hand that feeds you. 

Who would ever give large amounts of money to any organization such as "Friends of" entities if they knew that their generosity caused the Weston Finance Board to de-fund
the very entity they support???

Maybe it is because the Board of Finance is supposed to "JUST SAY NO?"  Is this tenor of discussion the "new Weston?"

In any event, there will probably be some scrambling and compromise coming in order to open the 21st Century re-do of an award-winning library in Weston!

A very long, more than 2 hours, meeting.  By the way, it seems that there will have to be an early beginning to the FY2018 budget season...Capital Budget planning.

BELOW, NOT OFFICIAL NEWS YET AS OF FRIDAY MORNING...
It seems that the Board of Finance will schedule a special meeting after the Library Board entity in charge of their finances agrees (my guess on this)
to keep the Library project
on target to open December first! 



_______________________________________________________________________________________________________________________________________________




  
Board of Finance AGENDA
Town Hall
Thursday, Sept. 8, 2016


Held at the same times almost as the Special Board of Selectmen, we attended only the beginning - first item taken above, Police request to update
monitoring software for security systems by converting capital funds to operating funds...don't know how that worked out!

I had hoped to be able to hear the "welcome" to the new Superintendent, but he was delayed, as he had been previously, at the Police Commission - it
is "back to school  night week."

---------

NOTE:
We had hoped to hear about Item #3 - refinancing.  Instead asked the Board of Selectmen if there was any relationship between refinancing the debt and making
more funding available to cover costs of Town Hall/Police renovations.  The Selectmen said no, the money was there for the renovation and in fact a decision has been
found to accommodate dispatch regionally in the location (the under their item "First Selectmen Report").

_____________________________________________________________________________________________________________________________________________




Special Board of Finance Meeting
Town Hall Meeting Room
Monday, July 11, 2016 at 3PM

Present:  Chair. Steve Ezzes and Dick Bochinski and on the phone, Melissa Koller, Allen Graubert, Bob Fergusson, Jerry Sargent
Also in attendance First Selectman
Nina Daniel, Town Engineer John Conte and Joe Lametta, DPW;  Old Mill Road resident.


AGENDA

Both items approved after discussions and questions of Town Engineer and DPW chief, who noted there were 62 miles of Roads 30 years ago and 80 now - in response to
questions
.

Adjourned at 3:37pm.

__________________________________________________________________________________________________________________________________________________



Board of Finance
Town Hall Meeting Room

June 9, 2016

Agenda:  http://www.westonct.gov/media/file/BOFAgenda6-9-16.pdf



HO HO 
After approval of new S.R.O. vehicle, approval of new Dial-a-Ride van.  Next came the tough stuff.  Remember what was warned of at ATBM


ALL SEVEN MEMBERS OF THE BOARD OF ED PRESENT (one outside the picture to the left)
This was a discussion of places in the budget and capital budget where the town will have to renege on items.  The DRAFT numbers from Bd of Ed here



I HATE TO SAY IT BUT I WAS RIGHT AT ATBM
The Town, however, may be in a position to help out, have $$ returned unspent - a large sum.  Board of Finance members want to be helpful.

The discussion was far reaching and we left before any conclusions were made, however we did hear from the Director of Finance for the Town that the percentage of the
approved budget % or ratio of the fund balance is expected to be 17.1%

We left at 9pm.


_________________________________________________________________________________________



Board of Finance
Town Hall Meeting Room
Thursday, Feb. 11, 2016

Now here's a new twist...an interesting-sounding Board of Finance meeting this time of year NOT related to the budget process! Check it out!



Agenda:  http://www.westonct.gov/media/file/BOFAgenda2-11-16.pdf


Considering what is going on in Hartford, in retrospect, after our Budget Process was winding down, it will be a bumpy ride for a while!







   
         
Board of Finance
Town Hall Meeting Room
Jan, 14, 2016

Full agenda included:  http://www.westonct.gov/media/file/011416BOFAgenda.pdf

Audit AOK.  Schools under budget at this point.  Long discussion prior to approving $7000 to find out if Police Station and Communications center can be reconfigured and
upgraded to standard without increasing Weston's debt.

Chair. and co-Chair re-elected.









Board of Finance

Town Hall Meeting Room
Dec.10, 2015

Full agenda included:


FULL SPEED AHEAD!!!
Senior Center request to match funds for new excursion bus/done.  Congratulations to Friends of Senior Center's Alden Sherman Car Show.

End of year transfers/DONE.  Perhaps at this point or later in the meeting, it became clear (see photo of Town Administrator explaining strategies above) that the new
Administration would be accomplishing the goals set out by the previous Administration - only with the benefit of having watched projects falter around CT - and thus achieving
the Town's needs to a more tailored approach within the Historic District.

     
A report on Education budget progress to date (Internal Services Account higher than it has been); 
Middle School Pool - request for engineering study...how many have we done
over the years??? 
Outlook and approach and insight into future expense/done.  Plus minutes approval from October 8th meeting (see just below).   As we left the meeting, we
passed the locked door to the Commission Room and noticed the working document produced by the "Seniors" sub-committee of the Strategic Planning Committee (r) that fit in
with the discussions the Board of Finance had just been having, in part!


_________________________________________________________________________________________________________________________


Board of Finance
Town Hall Meeting Room
Thursday, October 8, 2015

AGENDA here:  http://www.westonct.gov/media/file/BOFAgenda100815.pdf

Please note that Finance Board members are hearing from Town Attorney on "General update" on Town legal matters...never recall this before and is "General Update" a reason
to have an executive session?
  About Weston will not be attending...however, the next day we inquired of the First Selectman as well as a member of the Board of Finance what
had "gone down."

Both were forthcoming, the Finance Board member noting that the meeting ran until 10:30pm (3 hrs).  Which leads me to believe that it was a lengthy Executive Session.  






Board of Finance
Town Hall Meeting Room
July 9, 2015 at 7:30pm

Agenda as posted:  http://www.westonct.gov/media/file/BOFagenda070915.pdf

_______________________________________________________________________


Board of Finance meeting Thursday, June 11, 2015 considers reports from First Selectman and
Superintendent of Schools and expresses its displeasure with the way the Democrats are handling
things. 

First Selectman reports having questioned M.O.R.E. Commission leadership and been told
(our words) to shut up or else.  CCM report for impact on Weston here

Oh, there were three Democrats present and it took the one Republican to point out that there
was probably a mandate coming on COG "tax-sharing."


REGIONAL ACTION?
Chairman to confer with other Finance Board Chairs. in the region re: whacks to the tax base
(read "GE") in CT and ask what the effects there may be coming down the pike as the State's
economy goes from bad to worse.


REPORT
As required by Finance Board, Superintendent gives report on how they are making out with their
budget.  She has proposed some changes to come up with the $100,000 cut from FY'16.  Needs Board
approval at their next meeting.  Which is at the same time as the next Selectmen's meeting - Monday,
June 15 (in WMS Library).

ALSO AT THE FINANCE BOARD THURSDAY - NOTE - WERE THEY AWARE WHAT MIGHT HAPPEN
IN SPECIAL SESSION?

  • Was result of Stones Trail appeal discussed?  Don't know.  We left after second substantive item. 
  • Surprise!  Not on the agenda was the ceremonial honoring of long-time member's resignation. 
  • We still don't know if this item was discussed.  Will Stones Trail appeal?  Can they?

M.O.R.E. Commission

Working this session in subcommittees, minutes posted;  videos of meetings at
CT-N.  Weston First Selectman on MUNICIPAL EFFICIENCIES subcommittee  - main page.  We thought
the concept of "subcommittees" came from somewhere - besides the "No Sewers in Weston" days...and
the school expansion project.

______________________________________________________________________________________


Special Board of Finance meeting Monday, May 18, 2015 at 1:30pm, Town Hall 
After the second Referendum, which approved the budget, 688 to 313, came next in the process.  Six
of seven Finance Board members (3 in Town Hall, 3 on speakerphone) to
select the mill rate for FY'16 - 28.67.  NOTE:  Finance Board took funds out of funds surplus to
keep mill rate lower than actual increase in spending, something done in previous years,
especialy before local elections.

OTHER TOWNS/CITIES MILL RATES, FY'15;  LINK TO OPM here.


_______________________________________________________________________________________



MAY 5, 2015
HOT TIME IN THE OLD TOWN TONIGHT AS BOARD OF FINANCE MAKES CEREMONIAL CUT


The number of seated max. 60, the total number 110, Fire marshal rules posted...no one counted...


"Cut one percent out of the budget or don't cut at all,"  Speaker says major change needed as system shrinks...

 
Not sure what teacher in Norwalk system was saying, but perhaps it was in response to the
explanation of how to fix the problem, at the right...rewriting the Charter on the fly?


NOT A PUBLIC HEARING
Argument ran the gamut, in the generous gift by Chair. (below, right) of allowing the public to speak.


Yes, they made a cut.


  
WILL THE BOARD OF FINANCE MAKE A CUT TO EDUCATION BUDGET ON TUESDAY?
Now it gets interesting.  Put yourself in their shoes...they already rejected, along Party lines, a $250k
cut at their "Deliberation" meeting, so we would not think the Majority will reverse itself. 
What does the Charter say?
________________________________________________________________________________________

N O    Q U O R U M   A T    A T B M  ;   In a surprise, school budget rejected at Referendum.
ATBM 4-22-15 - machines open to vote afterward - at separate room near WHS auditorium;  
Referendum when?  Thurs. April 30th, voting in Town Hall 12 noon to 8pm.  NOTE:
Absentee ballots available to fill out at Town Hall April 23 to 12 noon April 30.

  

DELIBERATION MEETING APRIL 7TH LEAVES BUDGETS INTACT
No one was suggesting cuts to Town side of the budget except the Capital Budget Town Library item;
2-5 to cut capital budget item for Library (Koller, Graubert YES);  Discussion of how to limit rate of growth
for education budget the other point of contention:  3-4 to cut Education budget $250k along Party lines.
More here.

  
LOOKING A GIFT HORSE IN THE MOUTH DEPARTMENT
Those who voted to reduce or eliminate Town funding for the Library capital budget likened it to
making the Volunteer Fire Department offer to commit its $1 million from the same inheritance gift
to future purchases of a capital nature.

_______________________________________________________________________________________


 
     
CHECK OUT ITEM 2!  WILL THEY MAKE A DECISION BASED UPON THIS?  AND WHO IS "THEY?"
No, we don't think they, the Boards of Finance, Selectmen and Education PLUS the Police Chief, did.
We were present to witness that first two hours, then went home and picked the meeting up again an
hour later...and it was still going on, we assume, after 11pm, when we ran out of steam...did it get carried
over until tonight?  Our guess is no.

Board of Education budget on tap for Wednesday night.  Will they dare to use Power Point?



Oops...nobody recorded the Joint Meeting...
The joint meeting election night WAS NOT televised on Channel 79 after all.  But...
the Board of Finance meeting prior to it was, so here is a report on that with info from First Selectman
to the FORUM:

Weston finance board reviews police building project
Weston FORUM
By Kimberly Donnelly on November 12, 2014

http://www.thewestonforum.com/23049/weston-finance-board-reviews-police-building-pro
ject/?utm_source=Weston+Forum&utm_campaign=019691e822-FO_ONLINE_TODAY&
utm_medium=email&utm_term=0_848b12f59d-019691e822-193260349

_______________________________________________________________________________________


THURSDAY, OCT. 9, 2014
Board of Finance meets to approved plan for traffic calming on Old Mill Road ($9144) with 2 more traffic
or "speed alert" devices;  Superintendent and Finance Director report how things are going after the first
quarter of FY'15 for the education budget and submits detailed report.  Health Insurance high, special
ed low, health claims high.  About Town left before the meeting was over.
________________________________________________________________________________________


Special Board of Finance meeting
Town Hall Meeting Room
Tuesday, July 29, 2014 at 7:30pm

Two items of import in a 45 minute meeting: 

Education Budget
Second was the report (monthly) from the Superintendent and the Director of Finance (see photo above)
on how the Education budget is doing.  Under questioning, it appears that the experience in medical
claims if not also the special ed budget, are pressuring the Internal Services Fund (I hope I got this right!).
That fund, which is @$1.7 million now instead of over $2 million plus, a more comfortable number, keeps
Weston flexible in being able to switch insurance carriers (the ISF covers the "tail" to pay claims that come
in after the end of the fiscal year, but were incurred prior.

Senior Center
First was an excellent dog and pony show (see below).  It was an education to Board of Finance members
of how small projects (@$85k) get accomplished in Weston.  How?  Thru the Building Committee and
its professional members, town staff and "clerk of the works" skills of First Selectman (i.e. Booster Barn).


________________________________________________________________________________________

Board of Finance, Thursday, June 12, 2014. Two hour meeting, all 7 members present.
AGENDA: Soup to nuts, and a bit of Weston runoff/impervious surfaces history.

FOR THOSE WHO DON'T REMEMBER FIRE HOUSE/TOWN HALL ADDITIONS PROJECT MID-'80s...
A reminder from Former Selectman Bochinski, now on the Finance Board, of how the drainage problem
then (caused by adding roof area and impervious surface) worked out...

Bad report from financial advisers.

With member who is on the Lights fundraising group recusing himself, approval of gift.

And among other matters, such as the problem with placing the new Police Station next to the
Fire Department (drainage, septic, what's that all about???), came the Board of Education, who
ran the tables, getting hundreds of thousands of dollars for budget items such as extra teacher,
tertiary treatment plant, parking lot, East House and special education overrun.
________________________________________________________________________________________



Board of Finance, Thursday, May 8, 2014.

We attended this meeting to find out for sure what the mill rate will be July 1, 2014 to June 30, 2015:
28.24 is the mill rate (which, considering that we just had a reval, is too high) but times are changing...
and the collection rate was set at 97.8 percent, the third year it has increased by a tenth.

But before this action, the Finance Board put the new O.P.E.B. consultant (above left) thru his paces on
evaluation of the portfolio.  He offered the information that only 1/3 of the 169 towns in CT even are
attempting to address O.P.E.B. liabilities.  Of these, Darien is #1, Weston #2 and Greenwich #3 in
following G.A.S.B. 65's recommendations.

He noted that G.A.S.B. "69" recommendations will be coming out soon, and in his estimation, Weston
will be pretty close to having established a fund to support all who do or will be eligible for retirement
benefits from the Town of Weston.  (PLEASE NOTE THAT THIS IS MY INTERPRETATION OF WHAT HE
SAID - AND OTHERS WHO KNOW BETTER MAY DISAGREE.)

Finance Director for the town gave positive report on general $$ picture.

Followed by approval of some April minutes and then into Executive Session with School Superintendent
and Director of Finance on school security. (I assume approval of $4500 consultant study but who knows?)
_______________________________________________________________________________________

DELIBERATION UPWARD


Board of Finance Deliberation Meeting
April 8, 2014 at 7:30pm in the Town Hall Meeting Room:

Agenda included 3 items in addition to deliberation:
  • Special appropriation for tertiary treatment plant work over Spring break.
  • O.P.E.B. predictions. 
  • Also Audit Report.
BOARD OF FINANCE DELIBERATION - SURPRISE!!!  3 INCREASES!!!

Who said the budget can only be cut, or left as is?  And not raised.  Well, in the past, the Board of
Finance made changes to accommodate the needs of the Board of Education estimates (when the Board
of Ed sets their budget in stone, until the Board of Finance gets its hands on it, they can only estimate
health care experience perhaps four to six months out). 

This year, the Board of Education had good news, and reduced its own budget request by $145,000.
As far as I could tell, that was sufficient to take care of Finance Board's concerns.  So under the
circumstances it was unusual for the next event, changes to Selectmen's budget to transpire.

In an about-face, the First Selectman brought forward the item on Senior Center increase to 5 days, with
the approval of the Board of Selectmen (at t heir recent meeting).  Speak Up 2014 had exposed the raw
nerve of making Weston's senior center a hot button for the SILVER TSUNAMI (a threat to vote down the
school budget was never stated, but...).

Then the First Selectman asked the Board of Finance to go back to the First Selectman's budget
DEPARTMENT REQUESTS, which the Board of Selectmen had never seen - since the First Selectman
herself had cut $3000 from Parks and Rec, and $17,125 from the Library budget proposed.  The Finance
members questioned whether this might be done better as special appropriations, but the Town
Administrator and Finance Director were right there to point to the pages in the "Proposed" budget
columns...

After some members expressed their basic preference not to do this, they all got comfortable with it when
they realized that both the Board of Education as well as the Selectmen had been so responsible in not
over-taxing the people the last three budgets or so.  (Because there had been a Republican majority the
last two years, perhaps?  JMO)

And so it came to pass that THE BOTTOM LINE WAS RAISED.
________________________________________________________________________________________


BOARD of FINANCE MEETING NOTICE
March 13, 2014 7:30 PM
TOWN HALL MEETING ROOM
1.  Discussion/decision regarding request of funding from the Vehicle Sinking Fund in
the amount of for the purchase of two cruisers - Chief Troxell/done.
2.  Discussion/decision regarding various capital account transfers totaling $60,000 for
the purpose of completing the Pool HVAC project - Supt. Palmer/done
3.  Discussion/decision regarding BOE year  end financial outlook. Supt. Palmer/done
4.  Discussion/decision regarding requested approval of a Memorandum of Understanding
between the Town and the Weston Volunteer Fire Department - Craig Cohen, President WVFD/done.
Discussion/decision regarding  FY 13 - 14 year end Town budget outlook - Rick Darling
6.  Discussion/decision regarding approval of meeting minutes of  January 9/done.
7.  Any other items/done.
8.  Adjourn
________________________________________________________________________________________



REVIEW
Chair., Assistant Superintendent, Superintendent, Director of Finance for Board of Ed.

BOARD OF FINANCE REVIEWS EDUCATION BUDGET
Town Hall Meeting Room
Wednesday, March 12, 2014

More than 2 hour meeting which we watched sporadically from home on Channel 79.- notes below.

Chairmsn Ezzes came late (7:50pm) because of train delays caused by East Harlem fire.

Jerry Sargent, Vice-Chair. opened the meeting on time.  Superintendent tells Finance that effforts in the
Legislature to put more formal limits on the Special Ed hearings (none now, so lawyers bill and
bill...).  "Limits" as in how long they can go on, not $$ for kids.

Q.  Kindergarten enrollment? Ans.  98 so far. 

Q.  At this meeting it was specifically noted that at Speak Up, Bd of Ed said taking in tuition
students - how mant?  Ans.  4 taken in for hifgh school - one from Westport, who wanted to be in a
smaller school.

Q.  Overall enrollment over the longer run?  Ans. by Bd of Finance themselves...200 seniors, 100 in
Kindergarten=a "wash" because high school  costs more per pupil???

HEALTH BENEFITS discusion at @8:40pm.

TEACHERS CONTRACT IN LAST YEAR NOW.

ENTERPRISE FUND discussion.

TECHNOLOGY ISSUE discussed, Jerry Sargent noted security is now a major issue for private
companies (I forget which big companay he works for - maybe a credcard company or a bank???).  He
then asked "Where is our data?"

Q.  How much stress should we be putting on high school student and also lower grades?  (Example
of what happens where school becomes a 24-7 event because of online assignments, etc.)  Ans. ???

Columbia University Teacher's College "A.I.M." project offered as an example of how we are at the
forefront of making education better for everyone - and we are looked to as a leader in 21st century
learning techniques.  Which brought up P.R. for the system and the Town of Weston.  Our own
staff is now running "A.I.M." having been trained and having used these systems already.

Board of Education clarified for the Board of Finance the actual number of computers in the
schools (question left hanging after Board of Selectmen review).

The meeting was over at 9:44pm.
_______________________________________________________________________________________



Board of Finance reviews Selectmen's budget
In the Town Hall Meeting Room
Monday, March 10, 2014

ON TO BOARD OF FINANCE!  

NOTE:  WE LEFT AFTER REQUEST FOR ADDITIONAL EXPENSE  FOR  A FOURTH DAY FOR
SENIOR CENTER.

This is a significant meeting and we were there for the early going.

Iditarod XLII is estimated to finish @1am Tuesday, Alaska Standard (?) Time, which is four (4) hours
earlier than ours - and now with Daylight Saving Time beginning, even if they open their meeting with a
special showing of "Gone With The Wind" to help explain the budget, we shouldn't miss the end of
The Last Great Race.

First Selectman Weinstein addressed Kiwanis with a Power Point of her goals for 2014 and what is on
the Town's plate...view it, thanks to Kiwanis, here.  On the power point you will see some familiar issues
reported upon again, and the punch line...how are we going to pay for improvements to town faciltiies and
services? 

One of the areas of emphasis in the Power Point were pictures on the Weston Library interior spaces.
________________________________________________________________________________________


At "Speak Up" Feb. 8, 2014, the Board of Finance Chair. assured people that all assumptions would
be questioned this year.

No later than Friday, Feb. 28, both the school and the town budgets will be in the hands of the
finance board. The following meetings, held at town hall in the Meeting Room unless otherwise
noted, have been set:

1.  Monday, March 10 - Finance board reviews town budget request, 7:30 p.m.
2.  Wednesday, March 12 - Finance board reviews school budget request, 7:30 p.m.
3.  Wednesday, April 2, 8pm, WMS Cafeteria - Public Hearing on full budget FY'15
4.  Tuesday, April 8 - Finance board budget deliberation meeting. The board will vote on thebudget to
send to voters. 7:30 p.m.
5.  Wednesday, April 23 - Annual Town Budget Meeting (ATBM), Weston High School
auditorium, 8 p.m. Voters decide on the final budget numbers. Line items in the town budget & the
bottom line of the school budget may be reduced by a majority of those present only if a quorum of at
least 2% of qualified voters is at the meeting.
6.  Thursday, May 1 - Proposed referendum to vote on the numbers approved by the ATBM,
6 a.m.- to 8 p.m., Weston Middle School.
7.  Thursday, May 8 - Board of Finance meets to set the mill rate.

(Dates, etc. from the Weston Forum story earlier in the budget process, as announced)


_______________________________________________________________________________________


Board of Finance
Town Hall Meeting Room
Review of FY13-14 budget status
1-9-14

  • BOARD OF EDUCATION BUDGET DISCUSSED - REPEAT OF DISCUSSION WITH SELECTMEN;
  • THE POLICE DISCUSS POTENTIAL ISSUES RE: MILE OF SAFETY STAFFING, OTHER HISTORY
  • MEETING TAKES ABOUT AN HOUR.




ELECTIONS
Meeting began with election of officers for 2014.  Steve Ezzes Chair., Jerry Sargent, Vice Chair. 

BOARD of FINANCE
MEETING NOTICE
December 12, 2013
7:30pm
TOWN HALL MEETING ROOM

1.  Discussion/ decision regarding election of a Board Chairperson and Vice Chair./Steve Ezzes elected
Chair. and Jerry Sargent Vice-Chair.
2.  Discussion/decision regarding write off of taxes deemed uncollectable/done
3.  Discussion/decision regarding funding request for a Police vehicle.Chief Troxell/
Request for another
police car for the newest officer.  Report on the aging fleet and the significance of this
fact.  Explanation to new member of what and why cars are purchased from two difference parts of the
budget - First Selectman had spearheaded separate "sinking fund" (hope we've got this right!) to make it
possible to obtain vehicles w/o having to impact special appropriation limit.  Sgt. Daubert explains age of
fleet by hours of use.  Older vehicles used for outside jobs directing traffic for utilities work at $18/hr.

4.  Discussion/decision regarding year end operating budget account and line item transfers – Rick
Darling, Finance Director/done.
5.  Discussion/decision regarding the general fund portfolio and an update on investment performance
to date – Rick Darling, Finance Director/done.
6.  Discussion/decision regarding approval of meeting minutes of October 10/done.
7.  Any other items/Superintendent Palmer gave heads up on project deficits...

Superintendent of Schools gives report of how the FY'14 education budget is faring so far - it is in deficit
for more than one reason. 
Warning that at least two centers of the school budget are showing over-runs:
70 new students - more than anticipated - and special education support services re:  determination of
need and type of plan. (Again, this is our wording and we may not have gotten it correct - if we heard it
right, it will be discussed at the next Board of Education meeting as reported by the Superintendent.)

8.  Adjourn.
________________________________________________________________________________________

BOARD of FINANCE
MEETING NOTICE
October 10, 2013
7:30 PM
TOWN HALLMEETINGROOM

1.Discussion/ decision regarding resolution to transfer unexpended funds within the appropriation and
close out certain project from the 2010 bond issue - Rick Darling/done.
2.Discussion/decision regarding balancing of capital accounts  - Tom Landry/done
3.Update regading the School Resource Officer - Superintendent Palmer/discussion to continue.
4.General informational update for Weston Public Schools – Superintendent Palmer/Dr. Keating, too.
5.Discussion/decision regarding investment account updates from June 30 – Rick Darling/Finance Bd
to stay out of market until after November board meeting.
6.Discussion/decision regarding the proposed FY2013 - 14 Budget Calendar/dates set.
7.Discussion/decision regarding approval of meeting minutes of May 9, July 15,August 7, and September
30/done.
8. Any other items/none.
9. Adjourn


________________________________________________________________________________________

Special Board of Finance
September 30, 2013, 7pm
Town Hall Meeting Room

Members present vote to send resolution on to Special Town Meeting Thursdsy, Oct. 3, 2013 at 7pm in
Town Hall Meeting Room.


________________________________________________________________________________________

Special Board of Finance Meeting Notice
August 7, 2013, 7:30pm
Town Hall Meeting Room

"About Town" was attending the Charter Revision Commission meeting at the same time in the
Commission Room, but we interviewed a most reliable source later and affirmed that the new Vice Chair.
was elected and that funds for the Town/School Space Needs Study would be forthcoming as already
proposed.

________________________________________________________________________________________

Board of Finance Meeting Notice
February 14, 2013, 6:30pm
Town Hall Meeting Room

Issue we were interested in got no vote, but a sense that the Board of Finance would suppport up to
$45,000 to resurface/repair the tennis courts, but asked that the Superintendent, who made the
presentation, get other bids other than the one received by staff anf Town Engineer.  The problem is the
underlying soils encourage heaving and cracks because the courts are built on wetlands.


________________________________________________________________________________________

 
BOARD of FINANCE MEETING NOTICE      
 December 19, 2012, 7:30 PM
 TOWN HALL MEETING ROOM 

1.    Discussion/decision regarding supplemental appropriation request in an amount up to $10,000 for
the purpose of Town website update – Gayle Weinstein, First Selectman and IT Director Sharon
Shattuck/approved.
2.    Discussion/decision regarding FY2011-12 year end operating transfers. – Rick Darling, Finance
Director/done. 
3.    Discussion/decision regarding capital account close outs and transfers.- Rick Darling, Finance
Director/done
4.    Discussion/decision regarding update on investments performance. - Rick Darling/done.
5.    Discussion/decision regarding preliminary estimated impact of storm costs and potential
reimbursements/ after reimbursements, est. $50,000 (of total costs @$280,000).
6.    Discussion/decision regarding town and school facility use plans, including future use of North
House/the Selectmen, Finance and Ed Boards agreed to repurpose buildings - starting with North House,
which will be empty by school year 2014-2015.  Newtown tragedy made it impossible to proceed.  During
this long discussion, various alternativeshouse would not be inexpensive as costs of retrofits were
mentioned.
7.   Discussion/decision regarding upcoming budget cycle/there may be a schedule already agreed to, but
we haven't seen it.  Also heads up that there will be some substantial increases in the First Selectman's
budget, along with rumored duplications in Education budget for safety.
8.    Discussion/ decision regarding approval of Board meeting minutes of September 13/we had left already..
9.    Adjourn.

_______________________________________________________________________________________



ANY OTHER ITEMS
Chair. explains the new Charter proposals as they affect Board of Finance

BOARD of FINANCE                  
September 13, 2012
7:30 PM
TOWN HALL MEETING ROOM 

1.    Discussion/decision regarding general Fund investment performance for FY 2011-12 – Rick Darling
2.    Discussion/decision regarding amendment of investment policy to permit participation in Certificates
 of Deposit with a maturation date in excess of 180 days, and if so, discussion of possible investments.
– Rick Darling/both #1 & #2 done, change in CD length voted.

3.    Discussion/decision regarding supplemental appropriation request in the amount of $17,850  for the
purpose of tree removal along Old Mill Road as requested by the Police Commission and approved by the
Board of Selectmen.- Chief Troxell/done after really long discussion.

4.    Discussion/decision regarding any preparation for the October 10 tri board meeting/no location yet.
5.  Discussion/decision regarding approval of the meeting minutes of July 26, 2012/done.
6.  Any other items to be considered - discussion of Charter revision proposals affecting Board of Finance.
7.   Adjourn.




BOARD of FINANCE MEETING NOTICE      
July 26, 2012, 7:30 PM
TOWN HALL MEETING ROOM 

1.    Discussion/decision regarding requested for a supplemental appropriation in the amount of  $35,000
for site line improvements at the School Road/Lords Highway intersection – John Conte, Town Engineer.

 
2.    Discussion/decision regarding request for access to the vehicle sinking fund in the amount of
$22,320 for the purchase of a field maintenance tractor and related equipment.- Eric Albert, Chair, Park
and Recreation Commission and Dave Ungar, Park and Recreation Director


3.    Discussion/decision regarding request for access to the vehicle sinking fund in the amount of
$24,890 for the purchase of a medium duty pickup truck. Mr. Albert and Mr. Ungar.


4.    Discussion/decision regarding request for a supplemental appropriation for the 2011-12 fiscal year in
the amount of $28,729 to the vehicle sinking fund. This appropriation is for the purpose of directing funds
received from FEMA reimbursement for vehicle and equipment use during disaster response to the vehicle
sinking fund, consistent with the requirements of GASB statement #54. - Rick Darling.


 5.   Adjourn.

________________________________________________________________________________________


Town Director of Finance suggests mil rate

BOARD OF FINANCE MEETING NOTICE      
April 23, 2012 7:30 PM
TOWN HALL MEETING ROOM 

1.    Discussion/decision regarding request supplemental request from the Weston Volunteer Fire
Department in the amount of $68,327 for the purchase of 86 self -contained breathing apparatus tanks
and incidental equipment.- Chief Pokorny/done
2.     Discussion/decision regarding establishment of the property tax rate for fiscal year 
2012-2013.-Rick Darling/24.02 mil rate
3.     Discussion/ decision regarding approval of Board meeting minutes of February 9, February15,
March 5, March 7, March 13, and April 4/done.
4.     Adjourn

________________________________________________________________________________________


Selectmen and Board of Finance in Executive Session on settlement.


Special Board of Finance Meeting, 7:45pm, April 4, 2012 in the Weston High School Auditorium Lobby
Agenda: 

1.  Discussion.decision regarding the approval of a resolution to recommend that the Board of
Selectmen issue and sell general obligation\refinancing bonds to achieve debt service savings. 

2.  Adjourn to ATBM.

________________________________________________________________________________________
BOARD OF FINANCE "DELIBERATION" MEETING
CHANGED TO WEDNESDAY, MARCH 21,
2012 AT 7:30PM IN THE TOWN HALL MEETING ROOM
/no cuts (a slight adjustment on the
town side)

--------------------------------------------------------------------------------------------------------------------------------------------------------
BOARD of FINANCE
MEETING NOTICE      
February 9, 2012 7:30 PM
TOWN HALL MEETINGROOM 

1.    Discussion/decision regarding request from the First Selectman to enter executive session with the
Board of Selectmen to consider a global settlement proposal regarding the Federal law suit filed by
former employee Libby Rende, and the related case filed by AFSCME  before the State Labor Relations
Board/done.
2.    Discussion/decision regarding approval of any proposal resulting from executive session discussions
(tentative)/none

3.    Discussion/decision regarding any proposed change in the assumed return rate for OPEB
investments
/set at 71/4%.*
4.    Discussion/decision regarding Board direction in selection of an audit firm for the 2011-12 fiscal
year/unanimous to stay with same firm.
5.    Discussion/ decision regarding approval of Board meeting minutes of January 12, 2012/done.
6.  Any other items to be considered/none.
7.   Adjourn.

-------

*
Greenwich's pension cost expected to reach $16.4M

Neil Vigdor, Greenwich TIME
Updated 10:36 p.m., Thursday, February 23, 2012

Once generously overfunded, Greenwich's public pension system was only 77 percent funded to start
the current fiscal year, a downward trajectory that is expected to swell the annual taxpayer obligation to
$16.4 million, according to the town's actuarial service.

The Board of Estimate and Taxation got its most in-depth accounting Tuesday night of the town's growing
pension fund obligation, a significant cost driver that many say is emblematic of what's happening to
defined benefit retirement systems in the public sector.

The sobering 46-page analysis by EFI Actuaries, which tracks the performance of the $305 million fund
and has an office in New York City, highlighted the agenda of the board's regular monthly meeting at
Town Hall.

BET Chairman Michael Mason said the writing has been on the wall for several years.

"We saw these numbers and you could hear a pin drop on the carpet," Mason said.

The timing of the board's meeting coincides with ongoing deliberations by the BET Budget Committee
on a consolidated spending proposal of $368 million for the upcoming fiscal year, which seeks to keep
the vast majority of expenses relatively flat.

Pension costs are a notable exception.

Over the past four years alone, the town's contribution went from $6.6 million in 2008-09 to $14.5 million
for the current fiscal year ending June 30.

The fund pays out about $22.5 million yearly to 1,149 municipal pensioners. Teachers are not covered by
the fund.

Weakened by plunging stock values, the town's pension fund lost about 25.5 percent in value -- nearly
$70 million -- during a one-year period ending June 30, 2009.

Four years removed from its high-water mark of $361 million in October 2007, the fund is seeing its
liabilities catch up with assets.

Liabilities are defined as benefits earned by current retirees who are part of the pension system and their
beneficiaries, as well as projected future benefits of current town employees.

Town officials came to grips Tuesday night with the reality that they will have to lower their expectations
on the fund's performance.

The $16.4 million figure is based on a 7.75 percent annual rate of return, down from previous years when
the benchmark had been 8 percent or even 8.5 percent during the bull market.

The BET unanimously agreed to lower the benchmark to 7.75 percent.

The town plans to further reduce its rate-of-return assumptions in future years to 7 percent, according to
preliminary calculations in the actuarial report.

"What this does is it brings the assumptions that underlie the retirement plan more in line with the
investment markets that we have been experiencing for a considerable time now," said Joe Pellegrino,
chairman of the BET Budget Committee.

Leslie Tarkington, a member of the BET's Budget Committee, noted that New York City already reduced
its annual rate of return assumption to 7 percent.

For every 0.25 percent that the town lowers its expectations, taxpayers could be on the hook for an
additional $400,000, according to budget officials.

To help offset the hit from diminished rates of return, the town is also reducing its annual inflation rate
assumptions from 3.25 percent to 3 percent, instead of 3.5 percent.

Municipal employees typically receive 2 percent of their average final salary multiplied by their years of
service to the town under the pension plan. The town also has been known to voluntarily increase pension
payouts periodically to help retirees keep up with the cost of living.

In recent years, the town, through union negotiations, has enrolled a majority of new employees in its
401(k) plan instead of the municipal pension plan to cut costs.

Town officials expect the annual contribution to eventually plateau at $22 million.

"So there is a point in time out there where there is a change," Mason said.

--------

From the NYTIMES:  On New York State problem...

“You’re undermining the long-term solvency of these funds and making the pension fund even more of a
gamble than it already is,” said Josh Barro, a senior fellow and pension expert at the Manhattan Institute,
a conservative research organization. The state, he said, is betting that the performance of the financial
markets will improve over the next decade and bail the system out..."

________________________________________________________________________________________



BOARD of FINANCE MEETING NOTICE      
January 12, 2012  7:30 PM
TOWN HALL MEETINGROOM 

1.    Discussion/decision regarding election of Board Chairman and Vice-Chairman/Gerald Sargent, III
Chair., Mike O'brien, Vice-Chair..
2.    Discussion/decision regarding presentation of FY2010-11 Annual Audit Report – Scott Bassett,
McGladrey and Pullen/good marks.
3.    Discussion/decision regarding supplemental request of $17,500 for the purchase of software
for the Building Inspector’s office. Gayle Weinstein, First Selectman/done.
4.    Discussion/decision regarding status of Revson Field project. – Gayle Weinstein/ongoing work but
varsity will use JV this Spring, JV will use Morehouse #4.  Revson varsity field out of use for 2012.
5.    Discussion/ decision regarding the use of a vehicle purchase fund in place of the purchase of
individual vehicles in the capital budget process.- Gayle Weinstein and Jerry Sargent/discussed.
6.    Discussion/decision regarding the closeout and reclassification of various completed Capital
Project and Purchase accounts.- Rick Darling, Finance Director/done
7.    Discussion/decision regarding approval of Board meeting minutes of  November 10, 2011.-
Donna Anastasia, Town Clerk/done
8.  Any other items to be considered.
9.   Adjourn.





BOARD of FINANCE MEETING NOTICE      
November 10, 2011 7:30 PM
TOWN HALL MEETING ROOM  - we did not attend for medical reasons.

1.    Discussion/decision regarding requested approval of suspense list for outstanding vehicles
appearing on the grand list for fiscal years 2004 through 2008. – Charity Nichols, Tax Collector. 
2.    Discussion/decision regarding Board approval of FY2010-11 year end operating budget
transfers.- Rick Darling, Finance Director
3.    Discussion/decision regarding proposed revisions in the Fund Balance policy as may be
 compliant with the requirements of GASB statement #54. - Rick Darling.
4.    Discussion/decision regarding identification of Town funds which will be reclassified from
special revenue funds to ente4rprise funds to be compliant with the directives of Governmental
Accounting Standards Board (GASB) statement 54.
5.    Discussion/ decision regarding approval of Board meeting minutes of  October 13 and
June 9. 
6.  Any other items to be considered.
7.   Adjourn.

_______________________________________________________________________________________

BOARD of FINANCE MEETING NOTICE      
October 13, 2011 7:30 PM
TOWN HALL MEETING ROOM 

1.    Discussion/decision regarding Board approval of lease agreements between the Town and the
Nature Conservancy regarding the LaChat property.- Gayle Weinstein, First Selectman/done.

2.    Discussion/decision regarding a supplemental appropriation request in the amount of  $48,840 to
meet the expense of replacing the failed compactor at the Transfer Station. Gayle Weinstein and
Tom Landry/done.

3.    Discussion/decision regarding Governmental Accounting Standards Board (GASB) statement 54
and its impact upon the Town’s General Fund Balance Policy, classification of Fund Balances, and
Special Revenue Funds. Scott Bassett- McGladrey and Pullen, and Rick Darling/will wait until next
meeting to approve..

5.  Any other items to be considered/ Moody's latest report.
6.   Adjourn.

________________________________________________________________________________________

BOARD of FINANCE MEETING NOTICE      
September 8, 2011 7:30 PM
TOWN HALL MEETING ROOM 

1.    Discussion/decision regarding school department year end (6/30/11) operating budget
projection- Dr. Keating/done
2.    Discussion/decision regarding school department projected year-end (6/30/11) balance,
expenditures from, and additions to the Internal Services Fund- Dr. Keating/Dr. Keating, Dr. Palmer
3.    Discussion/decision regarding Town year end (6/30/11) operating budget and fund balance
projections.- Rick Darling/done.
4.    Discussion/decision regarding expected financial impact of storm related expenses.
Tom Landry/70% F.E.M.A. will bring costs into $20-25k range.  Thanked volunteers.
5.    Discussion/decision regarding the approval of the May 12 meeting minutes/done.               
6.  Any other items to be considered/none.
7.   Adjourn/done.



  
 
BOARD of FINANCE MEETING NOTICE      
 August 11, 2011 7:30 PM
 TOWN HALL MEETING ROOM 

1.    Discussion/decision regarding notice from Moody’s that CT AAA rated communities in New Haven
and Fairfield counties will have their ratings reviewed.- Gayle Weinstein, First Selectman/done
2.    Discussion/decision regarding allocation of the $172,119.47 settlement received from J.P. Morgan
related to previous bond issuance costs.- Tom Landry, Town Administrator/no decision
3.    Discussion/decision regarding performance of General Fund investments through June 30.- Rick
Darling, Treasurer/12.3%
4.    Discussion/decision regarding GASB 54 requirements and Town Auditor recommendations in
response to new requirements related to Fund Balance resignations.- Rick Darling/for another time
5.  Any other items to be considered.
6.   Adjourn.

________________________________________________________________________________________

BOARD of FINANCE MEETING NOTICE      
June 9, 2011, 7:30 PM
TOWN HALL MEETINGROOM 

NOTE: A quorum of the Board of Education and the Board of Selectmen is anticipated throughout this meeting

1.    Discussion/decision regarding BOE Internal Services Fund Balance and Usage- Dr. Keating, School
Business Manager
2.    Discussion/decision regarding supplemental appropriation request of $6,818 for the purpose of
a .75% retroactive salary increase for non union Town department heads.- Gayle Weinstein, First
Selectman
3.    Discussion/decision regarding  potential supplemental appropriation for the approximately $95,000
estimated FY2010-11 Town operating budget deficit.- Tom Landry                
4.  Discussion/decision regarding update on the status of the School Doors and Windows project.-
Gayle Weinstein, Tom Landry
5.  Discussion/decision regarding the status of Town/BOE joint initiatives. – Gayle Weinstein, Tom
Landry
6.   Any other items to be considered.
7.    Adjourn.
________________________________________________________________________________________

SPECIAL  BOARD OF FINANCE MEETING NOTICE      
May 12, 2011 7:00 PM
TOWN HALL MEETING ROOM 

1.    Discussion/decision regarding OPEB funds investment performance status report     - Karen Paulson,
FIA/doing well.   
2 into 3.    Discussion/decision with Board of Education members regarding upcoming teacher contract
negotiations – EXECUTIVE SESSION (taken out of order - we left)  Bd of Ed members and staff joined,
plus First Selectperson.
3 into 2.    Discussion/decision regarding  BOE third quarter financial status report – Dr. Joanne Keating/OK
4.    Discussion/decision regarding  appointment of McGladrey and Pullen as the Town Auditor for the
2010-11 fiscal year audit.?
5.    Discussion/decision regarding approval of the meeting minutes of  March 7 and April 21, 2011?
6.   Adjourn.
________________________________________________________________________________________

Notes from this meeting will be made - but will be only be reliable second hand ones, however. 
Investment policy and managed general fund info we will get from the draft minutes...
SPECIAL BOARD OF FINANCE MEETING NOTICE      
April 21, 2011 6:30 PM
TOWN HALL MEETINGROOM 

1.    Discussion/decision regarding Board of Selectmen position to increase the Elderly Exemption limit
from $600,000 to $625,000-  Gayle Weinstein/done. 
2.    Discussion/decision regarding establishment of mill rate for FY2011-12- 23.94
3.    Discussion/decision regarding altering the Board’s investment policy relating to the “delivery vs.
payment” provision.
4.    Discussion/decision regarding increasing the Janney managed general fund investments portfolio
limit from $4 million to $5 million.
5.   Adjourn.

________________________________________________________________________________________

DELIBERATION MEETING LASTS THREE HOURS
BOARD OF  FINANCE MEETING NOTICE      
March 24, 2011 7:30  PM
TOWN HALL MEETING ROOM 
NOTE:  Order of agenda changed/altered 24 March - now #2, #1b (capital, debt), #2a (Town, School)
1.    Discussion/decision regarding requested Town and School operating and capital budget requests for
2011-2012/ Debt service approved;  Capital Budget cut by $25,000 (Parks&Rec tractor);  Selectmen
($7000 cut agreed to already);  Board of Education cut $100,000..
2.    Approval of Meeting Minutes of February 10, 2011/done.
3.    Any other items of business to be brought up for Board consideration
4.    Adjourn.

________________________________________________________________________________________

BOARD of FINANCE MEETING NOTICE
TOWN HALL MEETING ROOM       
February 10, 2011 7:30 PM

1.    Discussion/decision regarding supplemental appropriation request in the amount of $ 9,000 
for virtual server conversion.- Sharon Shattuck/done
2.    Discussion/decision regarding supplemental appropriation from the non-recurring capital fund in
the amount off $15,966 for the purchase of fir hose and nozzles for the Weston Volunteer Fire
Department-  John Pokorny, Curtis Gunn/done.
3.    Discussion/decision regarding supplemental appropriation request in the amount of $155,000 for
the OPEB fund. – Tom Landry/done
4.    Discussion/decision regarding Town operating budget projected status for the current year. –
Rick Darling/done
5.    Discussion/decision regarding OPEB account FIA management report/done.
6.    Discussion/decision regarding approval of meeting minutes of January 13, 2011/approved.
7.    Any other business - seemed to be saying they were planning to meet at 7:30pm from now on (?)
6.   Adjourn.
________________________________________________________________________________________

BOARD OF FINANCE MEETING NOTICE
January 13, 2011 8:00 PM
TOWN HALL MEETING ROOM

1.    Discussion/decision regarding Tax Collector Suspense List.
2.    Discussion regarding the McGladrey & Pullen audit reports for
FY 2009-2010.
3.    Discussion/decision regarding the account (Capital Acct/Operating Acct)                                
       to close out year-end transfers.       
4.     Discussion/decision regarding approval of meeting minutes of  Nov 9, 2010.
5.    Any other business
6.   Adjourn.





Posted 11/8/10  10:30 AM
Revised 11/9/10  - no 24 hr. notice?
SPECIAL  BOARD of FINANCE MEETING NOTICE      
November 9, 2010 8:00 PM
TOWN HALL COMMISSION  ROOM  
 
1.    Discussion/decision regarding supplemental appropriation request in the amount of $ 65,800
for  STEAP grant matching funds for the purpose of Revson Field improvements.
- Gayle Weinstein/done.
2.    Discussion only regarding Weston Public Schools Financial Report, 1st Quarter    
-Dr JoAnn Keating/done 
3.    Discussion/decision regarding the Town’s Janney account investment returns.- Rick Darling/done
4.    Discussion/decision regarding Town operating budget year end transfers for FY2009-10.
– Rick Darling/done
5.    Discussion only regarding Tax Collector Suspense List/put off for substantive discussion until
December..

6.    Discussion/decision regarding approval of meeting minutes of  October 14, 2010/done.
7.    Any other business
6.   Adjourn.

________________________________________________________________________________________

SPECIAL JOINT BOARD OF SELECTMEN, BOARD OF FINANCE AND BOARD OF EDUCATION
MEETING AGENDA
MONDAY NOVEMBER 1st, 7:30PM
TOWN HALL MEETING ROOM
REVISED
1. Discussion regarding the BOE’s Internal Services Fund; Health Insurance---RFP for full and
self-funded program; possible regionalization with Health Insurance
2. Discussion regarding the BOE’s SPED costs---personnel and contracted services.
3. Discussion regarding efficiencies for 2010-11 and what we are looking at for 2011-12.
4. Discussion regarding the Town’s economic indicators
5. Discussion regarding the School/Town joint initiatives
6. Discussion regarding GASB 43/45 funding levels for 2011-2012 budget
7. Discussion regarding MERS outlook for 2011-2012

________________________________________________________________________________________

BOARD of FINANCE MEETING NOTICE      
October 14, 2010 - 8:00 PM
TOWN HALL MEETING ROOM 

1.    Discussion/decision regarding payback plan for Booster Barn expense.- Dawn Egan, Peter Figliola.
2.    Discussion/decision regarding closing out and status update of capital projects.
3.    Discussion/decision regarding the Town’s OPEB account investment profile and underlying return
assumptions.

4.    Discussion/decision regarding engagement of investment advisor for general fund.
5.    Discussion/decision regarding approval of meeting minutes of May 13, 2010.
6.    Any other business
7.   Adjourn.
_______________________________________________________________________________________

BOARD OF FINANCE SPECIAL MEETING NOTICE (revised)      
Tuesday, September 14th, 2010, 7:30  PM
TOWN HALL COMMISSION   ROOM  

1.    Discussion regarding the School Compensation Report – Phil Schaefer/done
2.    Review of Candidate Firms for Investment Advisor/recommendation a next meeting
3.    Approval of Meeting Minutes of  March 19, April 1 and April 22, 2010/done.
4.   Discussion/Decision regarding reimbursement for the Booster Barn - this item out.
5.    Any other items of business to be brought up for Board consideration/theorhetical discussion
6.    Adjourn.   
 
________________________________________________________________________________________

BOARD of FINANCE MEETING NOTICE - final version     
June 29, 2010 at 7:00 PM
TOWN HALL MEETING ROOM 

1.    Discussion/decision regarding Board of Selectmen and Park and Recreation Commission request to
redirect the $20,000 FY10-11 capital appropriation intended for an infield replacement at Revson Field, to
the purpose of a general needs assessment of Revson Field .- Gayle Weinstein/done

2.    Discussion/decision regarding appointment of subcommittee members to pre screen responses to
the Board’s RFP for investment advisor services for general fund investments/sub-commitee formed to
review proposals.

3.    Discussion/decision regarding the Milliman study regarding the Town’s OPEB liability calculations,
funding schedule, and general underlying assumptions. Steve Lemanski/no decision.
 
4.    Approval of February 11 and March 11 meeting minutes/ approved

5.    Adjourn
________________________________________________________________________________________


BOARD of FINANCE MEETING NOTICE      
June 14, 2010 at 7:00 PM
TOWN HALL MEETINGROOM 

1.    Discussion/decision regarding supplemental appropriation request in the amount of $21,350 for
conversion to Munis accounting program.- Rick Darling/done.
2.    Discussion/decision regarding request for proposals for general fund investment advisor/put off until
Special Meeting Tuesday June 29, 2010 at 7pm in the Town Hall Meeting Room.
3.    Discussion/decision regarding special meeting date dedicated to a full discussion of a funding
schedule to meet Town and School OPEB liabilities/put off until June 29 special meeting- which will
include discussion of using $20,000 for Revson repair for a study.
4.    Discussion/decision regarding transfer of $60,000 from the Youth Services Fund to the school
operating budget for the purpose of supporting the salary expense of a school social worker position/ a
philosophical discussion of where the money should come from and whether or not to take a
proverbial bookkeeping "shortcut."
  
6    Any other items of business to be brought up for Board consideration
7.   Adjourn to joint BOE/BOS/BOF meeting.

________________________________________________________________________________________

BOARD OF FINANCE MEETING NOTICE
May 13, 2010 at 8pm
Town Hall Meeting Room

1.  Discussion/decision re: supplemental appropriation request in the amount of $217,000 for Fiscal
Year 2009-2010 salaries not paid until July 1, 2010/done.
2.  Discussion/decision re: investment portfolio proposals and whether the Board wishes to establish
a subcommittee to furter review new and ongoing investment vehicles/not desired at this point.
3.  Discussion/decision re: monthly status report on General Fund Investments/satisfied.
4.  Update on current operating budget projections/OK.
5.  Discussion/decision re: departmental OPEB liability listing/discussion of how the larger market (i.e.
State of California and New York changing their OPEB assumptions) might affect Weston.
6.  Approval of meeting minutes of Jan. 14, Feb. 22 and Feb. 24/done with some changes.
7.  Any other items - "About Town" left at this point.
8.  Adjourn
________________________________________________________________________________________


Special Meeting Notice, April 1, 2010, 7pm, Commission Room
"Discussion/decision re: resolution for approval of the Certificate of Determination for the new bond
issuance of $6,600,000 for various school and municipal projects and transaction expenses totalling
$6,926,000, and for the refinancing of a portion of current outstanding debt" Bruce Chudwick, Shipman
and Goodwin.  Approval of the minutes of Jan. 14, Feb. 11, 22, Mar. 11, 19.

________________________________________________________________________________________

BOARD OF FINANCE MEETING NOTICE
Town Hall Meeting Room
March 25, 2010 at 8pm

1.  Discussion/decision regarding proposed Town and School operating budget requests for fiscal year
2010-2011/ $63,634,590 apporved to go to ATBM ($30,000 cut to Selectmen, $127,300 to Board of
Education).
2.  Any other items
3.  Adjourn


________________________________________________________________________________________

BOARD OF FINANCE MEETING NOTICE
March 11, 2010
7:30pm
Town Hall Meeting Room

1.  Discussion/decision re: resolution for Board of Selectmen proposed new bond issuance of
$6.600,000 for various school and municipal projects and transaction expense totalling $6.926,000/done.
2.  Discussion/decision re: first year investment performance of OPEB fund investments/done.
3.  Discussion/decision regarding OPEB liability and funding schedule/done.
4.  Monthly report on General Fund investments/done.
5.  Update on budget projections/done
6.  Minutes/not done - we left at this point.
7. Any other business (Since the time [7:30pm] is not the regular time, is this not a "special" meeting?)
8.  Adjourn

________________________________________________________________________________________

 BOARD of FINANCE MEETING NOTICE(& Board of Selectmen)      
 February 11, 2010, 7:30pm
 TOWN HALL MEETING ROOM 
1.  Heart & Hypertension claim settlement (in exec session)/done ($100,000)
2.  Discussion/decision re bond refinancing proposal and issuance of new bonds for school and/or
Town capital projects/after lengthy discussion, all concerned are watching rates, our experts are creating
an attractive refinance package for "closing in April" - then discussed bond isue for capital projects for
voter approval (Middle School Roof, windows & doors;  3 boilers) - total est. $6,782,000 consensus.
3.  Discussion/decision re monthly status report on General Fund investments/done
4.  Any other items
5.  Adjourn.





 
BOARD of FINANCE MEETING NOTICE      
 December 10, 2009 8:00 PM
 TOWN HALL MEETINGROOM 
 
1.    Discussion/decision regarding status report on General Fund investment schedule in various
mortgage backed securities.- Rick Darling/done
2.    Discussion/ decision regarding proposal from Fiduciary Investment Advisors to transfer remaining
money market funds in the OPEB account ($220,493) for investment.- Rick Darling/done
3.    Discussion/decision regarding year to date Town revenue receipts.- Tom Landry/OK for this year, but
things are getting tighter
4    Approval of Meeting Minutes of September 10, 2009 . Donna Anastasia, Town        
      Clerk/as amended, approved.
5.   Any other items of business to be brought up for Board consideration/general discussion about role
of the Board of Finance.
6.    Adjourn.

________________________________________________________________________________________


Board of Finance Meeting Notice
October 8, 2009 at 8pm
Town Hall Meeting Room

1. Discussion/decision regarding General Fund investment proposal from Janney, Montgomery and
Scott/unanimously OK'd after vigorous discussion, members present voted to place $4 million dollars
of the town's money into a fund paying 3 to 4% interest (instead of less than 1%) that carries greater
risk (relatively speaking)
2. Discussion/decision regarding Town and School special revenue, enterprise and trust funds/in
progress (same as report to Selectmen) no decision
3. Discussion/decision regarding various requested re-appropriations, transfers and designations
pertaining to numerous capital accounts/discussion of various such accounts, including Tower fund.
4.  Approval of minutes of September 10, 2009/done
5.  Any other business/?
6.  Adjourn
________________________________________________________________________________________

 
BOARD of FINANCE MEETING NOTICE      
 September 10, 2009, 8:00 PM
 TOWN HALL
MEETINGROOM 
 
1.    Discussion/decision regarding General Fund investment proposal.- Carolyn Frzop of Janney,
Montgomery and Scott/no decision - Guy Lebas on speakerphone.
2.    Discussion/ decision regarding proposed supplemental appropriation request in the amount of
$6,895 to purchase additional photovoltaic panels for the Central Office Building- Martin Strassmore,
Weston Sustainability Committee/OK'd (long discussion interrupted for phone call to
contractors)..
3.    Discussion/decision regarding requested supplemental appropriation request in the amount of
$9,052 for commissioned study related to combining the High School and Middle School electrical
meters.- Don Gary, Building Committee/Don Gary and First Selectman Woody Bliss presented the Fuel
Cell proposal and brought the Finance Board up to date.  These funds were approved (if they will be
necessary to spend)...Weston is trying to persuade CL&P to forego study and complicated meter changes.
David Muller moved, Patty Kopas seconded, unanimous approval.  "About Town" left @10:40pm

4  Approval of Meeting Minutes of  June 11th 2009 and July 9, 2009 . Donna Anastasia, Town Clerk.
5.   Any other items of business to be brought up for Board consideration
5    Adjourn.

________________________________________________________________________________________

BOARD OF FINANCE MEETING NOTICE
Thursday, June 11, 2009 at 8pm
Town Hall Meeting Room

1.  Discussion/decision re: supplemental appropriation from the 2008-2009 fiscal year, for the purpose
of meeting an expected Town operating 08-09 budget deficit/done.
2.  Discussion/decision re: a special appropriation from the 2008-2009 fiscal year to meet the expected
OPEB supplemental funds needed for 08-09/done.
3.  Discussion/decisiomn re: supplemental appropriation from fiscal year 2009-2010 to settle C&H lawsuit
/done.
4.  Discussion/decision regarding proposed Board of Selectmen policy for combined Finance Director/
Treasurer position/discussed, modified.
5.  Discussion/decision re: elimination and account balance for various special revenue, enterprise and
special purpose funds/reserved for next meeting.
6.  Approval of Meeting minutes of May 14, 2009/done.
7.  Any other business
8.  Adjourn.
________________________________________________________________________________________


"About Town" stopped in after the Building Committee and saw this set up - it was going to be a long night,  so we went home.
FORUM reporter stayed - her notes here.

BOARD OF FINANCE MEETING NOTICE
Wednesday, April 1, 2009 at 8pm
Town Hall Meeting Room

1.  Discussion/decision regarding requested Town and School operating and capital budget requests for
2009-2010/zero increase from last year for operating budgets.
2.  Approval of the minutes of March 19, 2009.
3.  Any other items to be brought up for Board consideration.
4.  Adjourn.
_______________________________________________________________________________________


BOARD OF FINANCE MEETING NOTICE
March 19, 2009
8:00PM, Town Hall Commission Room

1.  Discussion/decision regarding proposed FY 09-10 Board of Education budget items (e.g. salaries,
grants, health insurance, etc.)
2.  Discussion/decision re: FIA proposed phased in funding schedule for OPEB trust account.
3.  Approval of minutes of Feb. 12.
4.  Any other items of business to be brought up for Board consideration. (Is this not a "special" and
not allowed to have an "any other business" part of the agenda?)
5.  Adjourn
_______________________________________________________________________________________
BOARD of FINANCE MEETING NOTICE      
February 12, 2009
8:00 PM, TOWN HALL COMMISSION ROOM 

1.    Discussion/Decision regarding proposed FY07-08 audit-  Scott Bassett, McGladrey & Pullen
2.    Discussion/decision regarding update on foreclosure listings. Donna Anastasia
3.    Approval of Meeting Minutes of January 8, 2009.
4.    Any other items of business to be brought up for Board consideration
5.    Adjourn.

NOTE: At the conclusion of the meeting, some members will attend the Board of Selectmen’s budget
meeting, and this may constitute a quorum.




Board of Finance Meeting Notice/notes
December 11, 2008, at 8pm, Town Hall Meeting Room

1.  Discussion/decision regarding proposed supplemental appropriation or Insurance Reserve* transfer in
the amount of $22,900 for the purpose of meeting current year OPEB obligations ($4100 school, $18,800
town)/insurance reserve funds for school and town to be reduced by these numbers.**

2.  Discussion/decision regarding recommended OPEB custodial services agreement with Wachovia/to
become Wells Fargo eventually - requested that before we go about investing OPEB $$ there be a clear
statement of investment policy (asset allocation suggested: 45% fixed income, 50% equities, 5% REIT).

3.  Discussion/decision regarding recommended investment consulting agreement with Fiduciary
Investment Advisors/more to come.

4.  Discussion/decision regarding FY09-10 budget guidance to the Board of Education and Board of
Selectmen/

After lengthy discussion, including input from Superintendent of Schools, Director of Finance
for the Board of Ed. and Town Administrator, it seemed that all involved were aiming for 3%
increase or
less, as the First Selectman had suggested.  Reference to reports distributed at
multi-board meeting.


It was stressed by some members of the Board of Finance that announcing a "number" might not
be a
good idea, and that it would be a good thing to inform the taxpayers all during the
budget-making process
of what was being considered to avoid a last minute "You didn't tell us!" 
situation. 


Others opinions were not to pick a percentage at this point because that could have unintended
consequences (wrong number a possibility at this early stage). 

"What can the taxpayers afford?" 

Impact of return from private school (320 kids there now...)

Board of Education budget workshops to be televised January 12, 14 and 16, 2009. 

Questions from the Board of Finance:  how much is salary $$ in the education budget? 
Answer:  60%
salary, 20% benefits.  Plus fixed costs and cost of mandates.

When will we know how much the Grand List has grown/shrunk?  February 1, 2009 is date for
filing of
new Grand List (after reassessment appeals are over, etc.). 

5.  Approval of Meeting minutes of November 13, 2008/done.

6.  Any other items of business to be brought up for Board consideration/none.

7.  Adjourn/10pm.
-----------------
* = "Insurance Reserve" at $1,800,000 (Education) and $350,000 (Town)
before this action.
Board of Ed at $7 million and Town at $1.4 million - numbers possibly needed to cover 100% costs???
** = why are we doing this if there is a state teachers retirement fund?
________________________________________________________________________________________

Multiboard discussion regarding the current financial crisis and its implications for Weston...
December 2, 2008 meeting of Finance, Selectmen and Education Boards began late, after
executive sessions re: various judgements ...

_______________________________________________________________________________________
OUR BOARD OF FINANCE ON TOP OF HOUSING ISSUE...
Board of Finance agenda for November 13, 2008 at 8pm
Town Hall Meeting Room (6 members present, one speaker phone)

1.  Approval of Tax Collector Suspension List in the amount of $51,830.35/est. @44 property owners in
serious condition (i.e. including foreclosed, IRS tax liens, judgement liens, etc.); list approved
Atkinson (m), Sargent (s) - unanimous .
2.  Discussion/decision regarding proposed supplemental appropriation in them amount of
$66,602 for the purpose of reimbursement of overpayment of State grant for the Hurlbutt
core building project/Town Administrator explained that basement area not counted but we will have to
refund $$ to CT - the funding process nowadays is for the Town to upfront the money...Town Attorney
will be asked to review this before action is taken.
3.  Discussion/decision regarding recommendation to borrow up to $837,000 from the Town's
general fund balance to provide funding to continue with the High School auditorium project until
the grant retainage amount is released/this amount is too high because original amount did not include
$119k refunded from the high school roof project - number more like $686k...but they voted to transfer
up to $700,000 from the General Fund surplus to the auditorium project (O'Brian m, Sargent s; unanimous).
4.  Discussion/decision regarding proposed year end transfers for FY07-08/discusion of whether there
should be Finance Board oversight when town-side budgets by department go over ther amount OK'd by
ATBM - example of road repaving budget.  In the budget process only the Board of Education gets to
move items around and change numbers in different parts of their budget (see Town Charter)

"About Town" left at this point...

5.  Approval of meeting minutes of Oct. 23, 2008.
6.  Any other business to be brought up for Board consideration...
7.  Adjourrn.
_______________________________________________________________________________________
Revised
Board of Finance agenda for October 23, 2008 at 8pm

Town Hall Meeting Room

1.  Discussion/decision regarding OPEB investment advisory services contract/done, but not active yet.
2.  Year end transfers (revision - to be discussed at a later date).
3.  Discussion/decision regarding borrowing for school construction project until completion of audit
requirement/next month - discussion of where the balance between cost of financing and the loss of
income meet.
4.  Discussion/decision regarding target town/school/capital budgets for FY09-10/teachers' contract in
arbitration.
5.  Approval of minutes of Sept. 11, 2008?.
6.  Any other items of business to be brought up for Board consideration (???)
7.  Adjourn.

________________________________________________________________________________________

Board of Finance agenda for September 11, 2008 at 8PM
Town Hall Meeting Room

Only four items on this agenda, but it lasted a couple of hours.

First was Power Point presentation by Bleachers/Booster Barn group.  After discussion, Board of Finance
voted unanimously in favor of using $513k of the "special appropriation" fund of 2% of gross budget of
FY'09 ($63 million), as the Selectmen asked, money to be repaid in approximately 8 years by user groups.

Second was the Weston Volunteer Fire Department request for $900k over a three year period starting in
FY'09 (this year) - 3 payments of $300k each.  This is to rebuild the Lyons Plains Firehouse (which the
Volunteer Fire Company owns).

Third was the minutes of the previous meeting and fourth ("any other business") "About Town" left.
________________________________________________________________________________________
Board of Finance Agenda for June 12, 2008 at 8pm
Town Hall Commission Room
1.  Discussion/decision regarding proposed account transfer of $111,853.30 to the school
construction account (8000400-49000), from the high school roof capital account (5007532-55001);
2.  Discussion/decision regarding proposal to develop RFP for soliciting OPEB trust fund investment
services.
3.  Approval of minutes April 1 and May 8, 2008
4.  Any other items
5. Adjourn
________________________________________________________________________________________
SPECIAL BOARD OF FINANCE AGENDA
Tuesday, May 27, 2008, 8pm
Town Hall Meeting Room

1.  Discussion/decision regarding the disposition of the General Fund Balance/decided to fund O.P.E.B.
and the Auditorium.


________________________________________________________________________________________

BOARD OF FINANCE MEETING NOTICE
May 8, 2008 at 8pm
Town Hall Commission Room

1.  Discussion/decision re: supplemental appropropriation, Kid in Crisis program for FY2009, $67,958
2.  Discussion/decision re: supplemental appropriation request in the amount of $512,700 ($333,700)
for the replacement of the Town Hall roof.
3.  Update on the auditorium bid results (bids opened May 6)
4.  Discussion/decision re: supplemental appropriation for drainage improvements/outfall for 33 November
Trail in the amount of $31,640.
5.  Discussion/decision re: proposed Board of Selectmen appropriations from General Fund Balance
surplus for Special Town Meeting.
6.  Approval of minutes, Feb. 25 and Mar. 13, 2008.
7.  Any other items...
8.  Adjourn.

_______________________________________________________________________________________
ATBM OKs everything in the budget April 21, 2008.
Weston High School "Company" provides assistance to Town Meeting - sets up mics, does
sound checks, etc.

________
________________________________________________________________________________
SPECIAL  BOARD  OF  FINANCE MEETING;  THURSDAY,  April  3,  2008 at 8:00 PM -
TOWN HALL  COMMISSION ROOM - agenda is: Discussion/deliberation regarding FY 2008-2009
Board of Selectmen, Board of Education, Capital Improvements and Debt Service budgets respectively.
4-3 vote not to cut the school budget;  everything else OK'd as is.
________________________________________________________________________________________
BOARD OF FINANCE MEETING NOTICE
Thursday, March 13, 2008
8PM, Town Hall Meeting Room

1.  Discussion/decision re: unfunded mandates group/put off until a later meeting
2.  Discussion/decision re: surplus/after Executive Session discussing extent of liability re:
heart&hypertntion with Town Administrator, vote unanimous to limit expenditure of surplus (we think).
3.  Minutes approved from Feb. 14
4.  Under "any other business" vote taken to recommend O.P.E.B. Board and trust agreement to
Board of Selectmen as appears in text previously discussed in time for Public Hearing on Public
Hearing on Ordinance at the Board of Selectmen (March 20 at 7pm)
_______________________________________________________________________________________
BOARD OF FINANCE MEETING ON THE BUDGET, TOWN HALL MEETING ROOM
Monday and, if necessary, Tuesday, Feb. 25 & 26 at 8pm, Board of Selectmen's Budget
Wednesday and, if necessary, Thursday, Feb. 27 & 28, Board of Education Budget
______________________________________________________________________________________
 
BOARD of FINANCE MEETING NOTICE      
 Thursday, February 14, 2008
 8:00 PM
 TOWN HALL MEETING ROOM 
 
1.    Discussion/Decision regarding proposed Senior Property Tax Freeze.- Woody Bliss, First Selectman.

2.    Discussion/decision regarding proposal to establish trust fund for OPEB liabilities.

3.    Discussion/decision regarding supplemental appropriation request in the amount of $54,000 to apply
a portion of a Police Department heart and hypertension claim.- Tom Landry/done

4.    Discussion/decision regarding proposed appropriations from General Fund Balance surplus/ 3-3 tie.
Very interesting, but we are not sure what is going on here...there is supposed to be a Special Town
Meeting, we think, on appropriating the excess "surplus" in the rainy day fund.  But how much, what it
will be used for and when the Town gets to decide is up in the air.  We left after more than 2 hours.

5.    Approval of Meeting Minutes of  January 10.

6.    Any other items of business to be brought up for Board consideration

7.    Adjourn.


_______________________________________________________________________________________
BOARD of FINANCE
MEETING NOTICE      
January 10, 2008
8:00 PM
TOWN HALL COMMISSION ROOM 
 
1.    Discussion/Decision regarding selection of appropriate account type for GASB/OPEB fund
accumulation.- Natalie Welsh, Shipman and Goodwin/interesting discussion of possible Trust Fund.


2.    Presentation of FY2006-2007 audit.- Scott Bassett, McGladrey & Pullen/ no big problems.

3.    Discussion/Decision regarding supplemental appropriation request in the amount of $325k for the
purpose of design and reconstruction of Cartbridge.- Tom Landry/as one members stated, "Do we have
a choice?"


4.    Discussion/decision regarding targeted General Fund Balance amount to be considered for
re-appropriation/"About Town" did not stay to hear this.


5.    Approval of Meeting Minutes of December 13.

6.    Any other items of business to be brought up for Board consideration

7.    Adjourn.



We did not attend, but received reliable report of Election results.

BOARD of FINANCE
MEETING NOTICE      
December 13, 2007 rescheduled to MONDAY, DEC. 17 because of impending snow storm Thursday. 
8:00 PM
TOWN HALL COMMISSION ROOM 
 
1.    Discussion/Decision regarding approval of wording for January 17 special town meeting addressing
school construction projects.- Bruce Chudwick, Shipman and Goodwin.

2.    Discussion/decision regarding proposal to establish trust fund for OPEB liabilities- Bruce Chudwick
3.    Executive Session- Potential Litigation Settlement Regarding Liberty Mutual/Nettleton Mechanical
Claim.- Don Gary, School Building Committee

4.    Approval of Meeting Minutes of  November 8 .
5.    Election of Board officers/Michael O'Brien, Chair., Gerald Sargent, Vice-Chair.
6.    Any other items of business to be brought up for Board consideration
7.    Adjourn.
--------------------------------------------------------------------------------------------------------------------------

"About Town" could not attend - however, reliable information indicates that, given a second
chance, this time the Board of  Finance approved FAA $$!


REVISED AGENDA (3pm Tuesday) - Executive Session- Potential Litigation Regarding Revson
Field- G. Kenneth Bernhard (as new item #3)

BOARD of FINANCE, November 8, 2007, 8:00 PM, TOWN HALL COMMISSION ROOM 
 
1.    Discussion/Decision regarding request for approval of vehicle tax suspension list.- Charity Nichols.
2.    Discussion/decision regarding supplemental appropriation request from the Police Commission
(expected to be approximately $5,000) for Police Chief search expenses.- Rick Phillips.

3.    Discussion/decision regarding final FY2006-07 year end transfers. Rick Darling.
4.    Discussion of general financial status and projections in anticipation of general fund balance draw
down for capital and OPEB needs.- Tom Landry.

5.    Update on the status of various capital projects- Davis Hill drainage, Revson Field drainage, town
hall roof, town/school facilities report.- Tom Landry

6.    Approval of Meeting Minutes of  October 11 and October 22.
7.    Supplemental Appropriation Request in the amount of $58,000 to join a regional appea
of the recent FAA flight path plan. – Woody Bliss

8.    Any other items of business to be brought up for Board consideration

Another second hand report - apparently, at the 7pm Special Board of Finance meeting on Oct. 22,
2007, the two item agenda included a settlement for one Referendum contract (approved for
payment) and funding to join in a multi-town endeavor to challenge the FAA route proposed
changes in the flight paterns above, among other places Weston.  Approval not given
(unanimolusly).

--------------------------------------------------------------------------------------------------------------------------------------------------------

Report is below second hand ("About Town" got as far as the "S-Curve" and turned around and
went back home) - from two different sources...see Weston FORUM report below.

Board of Finance, Thursday, October 11, 2007 at 8pm in the Town Hall Meeting Room
1.    Supplemental for Interfaith Housing of $14,420.00 approved by the Board of Selectmen/we assume
this was approved.

2.    Discussion regarding the supplemental appropriation of $5,467.00 for a new  Dial-A-Ride van
requested by the Commission on Aging/this, too.. 

3.    Discussion regarding the supplemental appropriation of $35,000.00 for Police Chief recruitment
expense requested by Police Commission Chairman Rick Phillips/withdrawn from agenda.    

4.    Discussion regarding a supplemental appropriation for $24,000.00 for a drainage study requested by
Deepwood/Davis Hill residents/? we didn't find out about this.       

5.    Discussion regarding the supplemental appropriation of $65,000.00 for drainage improvements at
Revson Field requested by the Building Committee/done - Board of Finance interested in weighing the
choice to do the repair or pursue legal action..

6.    Discussion regarding the supplemental appropriation of $3,500.00 for a survey of Revson Field/done.      
7.    Further discussion regarding the OPEB liability and funding proposals/?.
8.    Resolution authorizing the Close out of Capital Projects and re-appropriation of funds/done, we think.
9.    Discussion regarding Capital non-recurring fund transfers and Close outs/done, we think. 
10.  Update on the progress of the Facilities Review-Tom Landry/on schedule to have draft end of October
(we think--same as reported at Building Committee). 
---------------------------------------------------------------------------------------------------------------------------------------------------------


Board of Finance Meeting Notice, Thursday, December 14, 2006 at 8pm, Town Hall Commission
Room.

1.  Discussion/decision re:  General Fund Reserve target amount and Policy - Board of Selectmen/this
item will be discussed at the next meeting in greater depth - however, no decision need be made until
after the completion of the budget process (April 2007);

2.  Discussion/decision re:  transfer request in the amount of $37,478 for 2 road drainage projects
(John Conte)/question of establishing policy - Town aware of this, OK for these 2 projects.

3.  Discussion/decision re: transfer request in the amount of $20,000 for the purpose of renovations to
Kinderland for interim occupancy by various Town departments (Tom Landry)/$17,000 OK'd after extended
debate;  Town agreed to continue using Jarvis for a Town department (i.e. Social Services or Parks and
Rec).

4.  Report on schedule for High School roof repair (Tom Landry)/probably to a Special Town Meeting in the
new year to have the voters decide.

5.  Approval of minutes of November 9/done..
6.  Any other items of business to be brought up for Board consideration/further discussion of new State
Mandate on retirement funds set-asides;  discussion of Capital Advisory RFP re:  School and Town major
structure/capital facilities plan for scheduled major repairs ("About Town" interpretation of topic).

7.  Adjourn/"About Town" left before adjournment--at 10:15pm.
_______________________________________________________________________________________

                  

Weston's finance board wants feedback: How much are taxpayers willing to spend?   
Weston FORUM
Written by Kimberly Donnelly    
Wednesday, December 17, 2008

The Board of Finance wants to hear from Westonites now what they think they can afford to pay in taxes
next year.

When it comes to budget preparations and deliberations, “the real question is what can the town afford?”
said Mike O’Brien, chairman of the finance board.

The board heard presentations from the town and the schools at a joint meeting of selectmen and finance
and school board members earlier this month. The finance board also got updates at its meeting Thursday,
Dec. 11.

When it comes to advising the selectmen and the school board at this point, the consensus of the finance
board is that it is “not going to give guidance as to a particular number,” Mr. O’Brien said.


Both the schools and the town have said they are looking at about a 3% increase to their respective
budgets. “We see that as a maximum, not a goal,” Mr. O’Brien said.


“Giving a hard and fast number doesn’t really get the job done one way or another,” Mr. O’Brien said.
“Basically we’re saying, ‘Put together the best budget you can, given what’s going on in the world, and
keep it down as much as you can.’”


Public feedback

Mr. O’Brien would like to see the public get involved and voice opinions early on to give the various town
entities a sense of what people are willing and able to pay.


“It comes down to the Board of Finance — at the end of the day, it’s up to us to decide what the town can
afford and what it can’t. But we need the input of the townspeople to tell us what we can afford,” he said.


It is still early in the budget process — real deliberations will begin after the first of the year — but
departments have already been looking at what they need for the 2009-10 fiscal year. Town departments
submitted their initial budget requests to the town administrator and finance director this week.


The school board will hold budget workshops Jan. 12, 14 and 16. “I would strongly recommend people
attend these workshops,” Mr. O’Brien said, noting they will also be televised on the public access station.


He also suggested taxpayers attend the Board of Selectmen meetings when the first selectman presents
the proposed town budget (scheduled for Tuesday, Feb. 3) and when the school board presents its
proposal to the selectmen (set for Wednesday, Feb. 4).


Uncertainty

Mr. O’Brien acknowledged that people may not know right now just how their financial situations are going
to play out over the next several months. Aside from the uncertain world economy, the impact of
revaluation on Weston homeowners won’t become apparent until February.


Revaluation and its overall impact on the town’s grand list, as well as the town’s revenue stream, will also
factor into budget deliberations.


Mr. O’Brien pointed out that the capital budget has not yet been addressed, but, he said, the general
consensus seems to be that the town should not defer maintenance items if at all possible.


However, it is not likely the town will seek bonding anytime soon. “In this environment, bond issues right
now are a no-go, because they are very expensive. We are hoping the bond market in 2009 will come
back and allow us to get a good rate.” Only then could the town consider bonding for any capital items,
Mr. O’Brien said.


Still, even with all the unknowns, it’s important for people to go to meetings where budgets are still being
crafted and scrutinized and to voice their opinions early on, Mr. O’Brien said.


Speak Up, held by the League of Women Voters of Weston every February, is also a great time for people
to ask questions of the selectmen and the members of the school and finance boards, and to let those
same people know their thoughts and ideas, Mr. O’Brien said.


“Getting a feel for what the affordability is in town is going to be interesting and important this year,” he
said.

____________________________________________________________________

                  Weston Annual Town Budget Meeting; Voters approve $63.4 million budget
Weston Forum
Patty Gay
Apr 22, 2008

At the Annual Town Budget Meeting held last night in the auditorium of Weston High School,
approximately 120 voters overwhelmingly approved an overall 2008-09 town budget of $63,417,586,
a 4.71% increase from the current fiscal year.


Immediately after the vote, the Board of Finance approved a mill rate of 24.05, a 2.82% increase from
the current rate of 23.39. A mill is equal to $1 for every $1,000 of assessed property value.

capital improvement budget of $1,396,000, a 5.76% increase; and a debt service
budget of $7,419,715..

Please search the Westo FORUM archives for the remainder of this story.
 

___________________________________________________________________
                  From FORUM...earlier action reported
Officials question the safety of Revson Field
Weston FORUM
by Kimberly Donnelly

Apr 9, 2008

Some officials believe the town should take a more proactive approach toward fixing the problems on
Revson Field.


At a Board of Selectmen meeting last Thursday, April 3, Selectman W. Glenn Major said the discovery
of glass and other debris found embedded throughout the playing field means the field might still be
unsafe; rather than waiting to see if more glass turns up, the town should be more actively checking to
see if there is more, Mr. Major said.


“The glass you can see, you can pick up. It’s the glass you can’t see that’s the issue,” he said...

Please search the Weston FORUM archives for the remainder of this story.


                    ___________________________________________________________________
Weston finance board examines capital improvement priorities
by Brian Gioiele
Weston FORUM
Feb 21, 2008
 
While there is no final priority list or exact dollar amount, one thing is certain: town officials will be asking
taxpayers to spend at least $2.1 million in the coming months.


The Board of Finance spent Thursday night discussing possible priorities, focusing on funding the liability
for post-employment benefits trust fund ($1.1 million), high school auditorium work ($700,000) and Town
Hall roof repairs ($350,000).


The board delayed any ruling on the priorities, instead waiting for the town’s capital committee to finalize
its own priority list from not only that group of three items but also those listed in the Kaestle Boos report,
which lists some $44 million in needed work on the school and town facilities.


“We need a priority list,” said First Selectman Woody Bliss. “We have money to spend on the highest
priority items, such as the Town Hall roof. Then we have to make decisions on funding the other projects.”

Finance board member Melissa Koller said that, with interest rates low now, it may be time to look into
bonding the major projects, so that the work may be done as quickly as possible.


“Here we are faced with $40 million in potential expenditures,” said Ms. Koller. “Interest rates are at
all-time lows. It’s a good time to look at bonding...”


“The choices are doing the projects at once and paying over time or spreading out the work and the cost
to taxpayers out over years,” responded Mr. Bliss. “I’m with you. I’d rather do more up front.”


And where is the money going to come from to cover the $2.1 million in potential expenditures? Excess
in the town’s general fund, that’s where.


During its January meeting, the finance board seemed to favor keeping the town’s fund balance at 12%
of the total town budget, currently estimated at $63.4 million for the 2008-09 fiscal year...


But the board members were split on how much to ask the special Town Meeting to spend.

Board member David Muller first moved that the $624,539 remain untouched in the general fund for the
remainder of the present fiscal year to cover any surprise supplemental appropriations and $2,178,330 to
go before the special town meeting.


“I want to retain the flexibility,” said Mr. Muller about having that money available to cover unanticipated
costs prior to the end of the present fiscal year.


Mr. Muller was joined by fellow members Patty Kopas and Bob Atkinson in supporting the option. But
Chairman Michael O’Brien, Ms. Koller and Michael Carter were opposed, leaving a 3-3 tie that defeated
the motion.


“I’m concerned about having $624,000 set aside,” said Mr. Carter. “I’d rather hold back $200,000 or
$300,000 instead of $624,000. If we go a little below 12%, so be it.


Mr. O’Brien said that any of the $624,539 unspent at the end of the fiscal year remains in the general
fund and could then be added to the $2.1 million.


“Twelve percent is an arbitrary number,” said Ms. Koller, adding that maintaining 8% to 11% of the fiscal
year’s budget is enough to maintain an Aaa rating. “I think we are being extremely conservative here.”


But Mr. Bliss said that the town should remain at the high range of 12% considering the town’s high level
of debt after bonding the $80-million school project.


“I’d be cautious about dropping below 12%,” said Mr. Bliss. “If you’re thinking about another bond issue,
then you should think about keeping it around 12%. It’s real easy to spend the money. It’s not easy to
get it back.”


Mr. Bliss was referring to when he entered office, and the town’s general fund was at only 3%. His initial
goal was to reach 7% of the town’s fiscal year budget, but that goal steadily rose as the town embarked
on the school building project.


In a letter dated Dec. 21, Town Administrator Tom Landry states three reasons to maintain the 12%
retention level: “1) It helps to offset the high debt level carried by the town as compared to other Aaa rated
communities for bond rating agencies; 2) There is a standing $400,000 heart and hypertension judgment
against the town, which, if we lose the appeal, will have to be paid from general fund balance proceeds;
3) There are six months remaining in the fiscal year, so any additional supplemental appropriations made
by the Board of Finance over the remainder of the year will further erode the 12% balance.”


Following Mr. Muller’s failed motion, Mr. Carter moved that $300,000 be maintained to cover unexpected
costs through the end of the fiscal year and $2,449,478 go before a future special Town Meeting. Ms.
Koller and Mr. O’Brien joined Mr. Carter, while Mr. Muller, Mr. Atkinson and Ms. Kopas opposed, meaning
this vote also failed.


“The capital committee will come up with a list of priorities, then there will be some meat behind the
$2.1-million number. If the priorities come out to $2.2 million or $2.3 million, then there might be a call on
the $624,000,” said Mr. O’Brien.
 

Please search the Weston FORUM archives for the remainder of this story.
______________________________________________________________________________________
                                     
Heart and hypertension: Weston officials not stressed by officers' claims
Weston FORUM
by PATRICIA GAY
 Jan 9, 2008

Two medical claims that could set the town back hundreds of thousands of dollars aren’t bothering Tom
Landry, town administrator.

In November, Mr. Landry told the Board of Selectmen there were several big ticket items the town will
likely have to pay for in the upcoming fiscal year. Among those items are two “heart and hypertension”
medical claims made by two Weston police officers.

One of the claims, by police Officer Richard Palmiero, is in the final stages of disposition and may exceed
$400,000. The other claim, by Detective Carl Filsinger, is more recent, and its price tag is not yet known.

Mr. Landry said these claims are one reason why the selectmen and finance boards are holding onto and
not spending the budget surplus. “We are setting aside $400,000 for Rich Palmiero’s claim. We are not
sure what else might crop up, but this expense is no surprise,” Mr. Landry said...

Please search the Weston FORUM archives for the remainder of this story.

_______________________________________________________________________________________
                 

Public hearing Jan. 10 - Weston talks tax relief

Weston FORUM
by BRIAN GIOIELE
Jan 2, 2008


Despite pleas for a more convenient time, local leaders chose not to reschedule the public hearing on
ordinance changes to both the town’s senior and veterans tax relief programs.


Hal Mathews, representing the Select Committee on Veterans Affairs, asked the Board of Selectmen on
Thursday, Dec. 20, to move the hearing from Thursday, Jan. 10, at 7 p.m. at Weston Town Hall to a
Saturday morning, when senior citizens — veterans and non-veterans — would be better able to attend.


“We feel it is important to hold the meeting at the time that is most convenient,” said Mr. Mathews.

 “It could be a problem with 7:30 p.m. on a January night. Many of those who are affected by this are
older and don’t drive at night.”


If a time change was not possible, Mr. Mathews asked that the town bus be made available. He also
asked that the selectmen make clear that letters concerning the proposals would be accepted prior to
the hearing.


The selectmen said the date and time would remain in place, but the board agreed to look into making
transportation available to those residents who wish to attend but are unable to drive in the evening.


“People can certainly send in letters with their opinions [on the tax relief proposals],” said First Selectman
Woody Bliss. “I’m not aware of any opposition. This is not a controversial issue.”


Two hearings, one night

The selectmen have scheduled two separate public hearings on Jan. 10.

The first will begin at 7 p.m. and focus on the adjustments to the town’s veterans tax relief program.
The hearing on the proposed senior tax freeze will begin immediately after the first hearing.


Once the hearing is complete and approvals given, the selectmen said the adjustments would be part
of the next fiscal year budget.


The selectmen plan to make the proposed ordinances available to the public before the public hearing.
Residents may obtain copies from town hall. The selectmen also hope to place the ordinances on the
town Web site (www.westonct.gov).

The Forum also will post the information on its site (www.theWestonForum) when it becomes available.


For veterans (read new ordinance here)

The veterans affairs committee is asking that the town’s veterans tax relief program, for both disabled
and nondisabled veterans, be adjusted to reflect the recent jump in property assessments.


Present tax relief for nondisabled veterans calls for $4,500 to be applied as a reduction from the current
property assessment — a figure Betsy Peyreigne, committee co-chairman, says has been in place for
several decades.


“Despite the major upward trend in the value of assessments and the annual change in mill rates, the
$4,500 amount has remained constant,” said Ms. Peyreigne in letter penned with Teri Gaberman, fellow
committee co-chairman, to the selectmen. “This has resulted in a diminished net relief to all Weston
veterans.”


In order to better meet the tax relief needs, the committee is proposing the $4,500 be raised to $10,000,
which would remain the “bare minimum” but could rise as property assessments jump in the future.


“If the value of the program relief amount had been adjusted at the same rate as the assessments,
the veterans’ tax exemption would be approximately $22,000, given 2007 values,” states the committee
letter.
..

Freeze

The Commission on Aging has proposed no changes in the present town abatement or deferment
programs, instead calling for creation of a third program — a tax freeze for senior citizens 65 years old
or older under a specific set of criteria.


The income threshold would be $100,000, with no threshold on net worth or house value. The real estate
base tax would be frozen at the date of the application.


Subsequent annual real estate tax increases would be deferred interest-free until the house is sold or for
14 years, at which time the applicant would be required to pay off the first tax deferment and subsequent
years annually thereafter as required by state law.


According to the Commission on Aging proposal, the cost of the temporary lost income would be included
in the annual town budget.
..

Please search the Weston FORUM archives for the remainder of this story.


_______________________________________________________________________________________


Weston settles Losito lawsuit:  Electrician to receive $125,000
Weston FORUM
by PATRICIA GAY
Dec 26, 2007

The town has settled a lawsuit with an electrical contractor that claimed it was owed money from the
 intermediate school building project.


On Monday, Dec. 17, Weston’s Board of Finance approved paying $125,000 to M.J. Losito Electrical
Contractors of Bethel to settle a lawsuit the contractor filed against the town in May. The selectmen
approved the settlement in November.


The finance board’s approval to allocate the funds puts an end to Losito’s claims against the town,
said Tom Landry, town administrator.
..

Please search the Weston FORUM archives for the remainder of this story.

                    ____________________________________________________________________

For some Weston seniors; Town considers freezing taxes

Weston FORUM
by BRIAN GIOIELE
Nov 20, 2007

Town officials keep moving toward adding a tax freeze option to the existing abatement and deferral
programs for local senior citizens.


The Board of Selectmen opened debate on the Commission on Aging’s proposal Thursday, but delayed
setting a public hearing date until receiving input from town counsel and estimates on potential cost
impacts of the new plan on future town budgets.


“There is a fiscally important plan for the town,” said Hal Mathews. “It will keep people in town. It will help
stabilize the school system. It will help stabilize taxes.”


The selectmen tabled the talk until their Dec. 6 meeting, when the board felt it would probably set a
public hearing on both the tax freeze proposed by the Commission on Aging as well as changes
recommended by the Select Committee on Veterans Affairs last month.


Once the hearing is complete and approvals given, the selectmen said, the adjustments would be part of
the next fiscal year budget.


Tax freeze

The Commission on Aging is not asking for any change in the present town abatement or deferment
programs, but instead for creation of a third program — a tax freeze for those senior citizens 65 years
or older under a specific set of criteria.


The income threshold would be $100,000, with no threshold on net worth or house value. The real estate
base tax would be frozen at the date of the application.

 
Subsequent annual real estate tax increases would be deferred, interest free, for 14 years, at which time
the applicant would be required to pay off the first tax deferment, and subsequent years annually thereafter
as required by state law.


Selectman Glenn Major suggested if this tax freeze were implemented, the Commission on Aging should
consider warning participants that refinancing could lead to having to pay what’s owed the town earlier
than anticipated.


Homeowners with a lien from a town are more likely to have to pay that loan off before a bank would
choose to allow refinancing, Mr. Major said.


“Having a disclaimer is a good idea,” said newly seated Selectman Gayle Weinstein.

“Then people can make an informed decision for themselves.”

According to the Commission on Aging proposal, the cost of the temporary lost income would be included
in the annual town budget.


“Let us assume that the average applicant has a home that is assessed for $500,000, and that there will
be 100 applicants. If the freeze were in effect for 2007-08, the town of Weston would have ‘temporary lost
income’ in the amount of $32,500,” according to the commission proposal.

Who would benefit

The commission stated that the new program would benefit those who do not meet the wealth threshold
for abatement, those who receive a 60% abatement, and those who have incomes in excess of $49,000
but no more than $100,000.


“The deferred tax increases become a lien on the property and will be paid when the property is sold or
transferred. At that time, the town will receive tax income to offset the established tax deferment line.
This budget line should not be part of the current abatement/deferment program,” states the commission
proposal...


Please search the Weston FORUM archives for the remainder of this story.

________________________________________________________________________________________
                   
                   Budget hikes for 2008-09 may reach $522,000
Weston FORUM
by BRIAN GIOIELE
Nov 15, 2007

Weston’s finance board has received a sneak peek at impending town budgetary hikes as well as possible
capital costs.


Tom Landry, town administrator, briefed the Board of Finance last Thursday, estimating some $522,000
in town budget increases for the 2008-09 fiscal year budget, which will be formally put together early
next year.


In his presentation, Mr. Landry also noted the town’s undesignated fund balance will jump to some $9.6
million, which lead the town administrator to recommend a target “drawdown” of that account by $2 million.


“There are plenty of areas in which this money can be used,” Mr. Landry said...

Please search the Weston FORUM archives for the remainder of this story.


________________________________________________________________________________________

NOTE:  November 8th there was a "re-vote" and it passed
Money for FAA lawsuit - Finance board denies request
Weston FORUM
by BRIAN GIOIELE and KIMBERLY DONNELLY
Oct 24, 2007

The Board of Selectmen’s plans to join a lawsuit challenging the Federal Aviation Administration’s recently
approved plane redirection proposal have stalled.


By a 1-4 vote, with Chairman Jerry Sargent the lone yes vote and Bob Atkinson abstaining, the Board of
Finance Monday denied the selectmen’s request for a supplemental appropriation of as much as $58,000.
The money would have been used to pay Weston’s portion of the initial legal expenses.


Mr. Sargent, in an e-mail response Tuesday morning, said his board “struggled to see the impact of the
FAA’s proposed change on Weston, and further questioned whether a lawsuit is the most effective way to
change the proposal...”


Please search the Weston FORUM archives for the remainder of this story.


________________________________________________________________________________________



Revson fix gets the OK
Weston FORUM
by BRIAN GIOIELE and KIMBERLY DONNELLY
Oct 17, 2007

The Weston Board of Finance approved funding a quick, less costly fix for Revson Field’s drainage
problems, but not without urging local leaders to fix their sights on legal action against those potentially
responsible for the field’s condition.


Only two days after the Board of Selectmen finally approved funding a field fix-up plan, the finance board
last Thursday, Oct. 11, supported separate supplemental appropriations, one for $65,000 for drainage
improvements at Revson Field, and a second for $3,500 to have an updated survey done of the field.


“There is wisdom in paying the $65,000 to fix the field,” said Jerry Sargent, finance board chairman, “but
there is a concern from many on this board about throwing more money at a problem that is not of our
own making.”


Mr. Sargent then urged First Selectman Woody Bliss — who was present, along with Building Committee
member Don Gary, to push for approval of the funding request — to again obtain town counsel’s advice
on possible legal action against those firms involved in designing and constructing the field.


“My sense is that we’d be spending money over and over again here,” said finance board member Michael
O’Brien about repairing the Revson Field drainage conditions.

“There is something wrong with this whole thing," said Mr. O'Brien...

Please search the Weston FORUM archives for the remainder of this story.



_______________________________________________________________________________________



ANOTHER ASPECT OF A COMMUNITY'S FINANCIAL PICTURE IS THE COST OF INSURANCE
Not the Boardof Finance  in Weston there is an Insurance Advisory Committee, begun under Woody
Bliss; September 6, 2012 Selectmen's meeting made or renewed appointments to that volunteer group.

_______________________________________________________________________________________



ELSEWHERE...



BONDING:  What are CT's limits, or not?
Article here:  http://www.newstimes.com/news/article/Greenwich-senator-warned-of-too-much-state-debt-6537947.php






WSJ Highlight’s CT Pension Problems
WestportNow

Sunday, October 04, 2015


Connecticut, the state with the richest population, may not have enough money in its own pockets, says a story in Monday’s Wall Street Journal...story from
WestportNow:  http://www.westportnow.com/index.php?/v2_5/comments/wsj_highlights_ct_pension_problems/




Raters Ignored Proof of Unsafe Loans, Panel Is Told

NYTIMES
By GRETCHEN MORGENSON
September 26, 2010

As the mortgage market grew frothy in 2006 — leading to a housing bubble that nearly brought down the
banking system two years later — ratings agencies charged with assessing risk in mortgage pools
dismissed conclusive evidence that many of the loans were dubious, according to testimony given last
week to the Financial Crisis Inquiry Commission...

Please search the NYTIMES archives for the remainder of this story.





              
Straight line or fuzzy math - neither one is correct:  http://ctmirror.org/2016/09/02/ct-spending-cap-problem-slow-economy-and-rising-debt-costs/

C.C.J.E.F. costs under any cap? 
Discussed at Commission.  C.C.J.E.F. decision:  http://www.nytimes.com/2016/09/08/nyregion/connecticut-public-schools-inequality-judge-orders.html?emc=eta1&_r=0


CT INCOME TAX AT 25 - IMPORTANT PIECE OF RESEARCH:  http://www.yankeeinstitute.org/policy-papers/where-has-all-the-money-gone/

    
     
W H E N    I N    D O U B T    F O R M    A N O T H E R    C O M M I S S I O N

C O N N E C T I C U T    S P E N D I N G    C A P    C O M M I S S I O N
OLR research defining "spending cap" - https://www.cga.ct.gov/2016/rpt/pdf/2016-R-0137.pdf
Reporting by the end of 2016...membership

        

C O N N E C T I C U T    S P E N D I N G    C A P    C O M M I S S I O N
Reports by the end of 2016...16 of 24 appointed by Majority and/or Governor

Post-Spending Cap Commission:  http://www.ctnewsjunkie.com/archives/entry/advocacy_group_asks_lawmakers_to_consider_raising_revenue_to_balance_budget/#comments


WE MISSED THE BEGINNING OF THIS COMMISSION'S DELIBERATIONS...HEAVILY WEIGHTED WITH THOSE WHO WISH TO HAVE NO SPENDING CAP, JMO

At the April meeting testimony given by many including varied positions (eg.): 

One:  https://www.cga.ct.gov/app/tfs%5C20160330_Spending%20Cap%20Commission%5C20160418/Testimony%20-%20CCM.pdf
Another:  https://www.cga.ct.gov/app/tfs%5C20160330_Spending%20Cap%20Commission%5C20160418/Testimony%20-%20Representative%20Gail%20Lavielle.pdf




Oct. 26 and November 16, 4-7pm (Willimantic nobody came) and Waterbury.
October 19, New Haven.
October 13, 2016 in Bridgeport - Testimony here from Senator Boucher;  and 3 others.

October 5. 2016 in Hartford, preceded by Spending Cap Commission meeting.  What was said during this meeting surfaced during Public Hearing - testimony by 9..


CONSTITUTIONAL SPENDING CAP PUBLIC HEARING SCHEDULE; FIRST CONGRESSIONAL DISTRICT


  
After regular interesting meeting (watched below), Public Hearing begins...in Hartford, 1st Congressional District



Yankee Institute

Cap to use is most inclusive.  "Both sides now" not just a song - are pension liabilities indebtedness or not?  It they are seen as an expense  "Pensions" off cap strategies
- bad.

 
 
ORIGINAL PURPOSE:  How about "willingness to pay"
Beating up on Fairfield County and class warfare at a minimum, but still there.


 
PROPERTY TAX?  CHECK OUT THIS ARTICLE!!!
Finds a common interest...how to balance tax code with property tax?

 
    
BONDED DEBT/TRANSPORTATION/ IT/ ETC?  Independent business, insulted by union arguments? 
Pension obligations under the cap?  Find a way to restore confidence.  What is the "arc" of the pension plan?  
END RUNS - 40% INCREASE IN INCOME,  STATE EXPENDITURE 225%


C.B.I.A. presents next: 
Unpredictability?  Important?  Pension liability...discount rate...


PROPERTY TAX
Donald Trump cited.  Restore and raise  taxes on the richest citizens.  Raise State income Tax.  Top 5% income tax group would go to 9%.

Public hearing in First Congressional District over in @90 minutes.

----------------------------------------------------------------------------------------------



CT SPENDING CAP COMMISSION MEETINGS WE WATCHED AND REPORTED ON BELOW...



DECEMBER 12, 2016 SPENDING CAP COMMISSION
This time they really mean it...the final meeting!!!  Right off the top, Chair. Cibes says no change or compromise during the week except for...

         

OUR NOTE:
Inquiring minds ask how the Governor's announcement impacts spending cap?  It puts off decisions, see graphic above left!!! 

We skipped to the end (1:35 of 1:55) or close to it and while we reserve the right to change this comment after we listen to the entire meeting, Rep. Steinberg is still asking
for clear statement of what their recommendations mean...SPOILER ALERT:  You'll never guess what the vote was at the end...



NO COMPROMISES SINCE LAST WEEK NOT A SURPRISE
One exception - phase in of placing unfunded liability under the spending cap.  What is under and what is not?  Read the legislative tea leaves or remember what my
grandmother used to say about recipes - it's according.

Two hour meeting proceeds with votes on all definitions of Spending Cap as one...we will watch it in its entirety later today...

AND WE'RE BACK...
Taxpayers visions congratulated.  Also thanks to Cibes.  Ziobron asks what the definition is of distressed municipality.  Ans. - Statutes 32-9b (or p) - Economic & Community
Development  Exempt municipalities 25; criteria.  Compliments.  No phase in for unfunded liabilities.

IMPACT OF GOVERNOR'S SEBAC AGREEMENT?
Lower actuarial determined number;  if there is a change, increase would be recognized in the second year, base going forward.  6.9% rather than 7%.  Under the cap
nonetheless.

BULLETS BELOW ARE EXEMPTIONS
What's the difference?  Uses the language in Constitution.  Federal Funds exempt.  Etc. 

   

Sen. Hartley speaks:  $635 million, three things, exempted. 
Senator from Waterbury asks three questions regarding what will happen to the three topics below.
  • A.C.A.
  • Distressed municipalities definition = what does it include?  What are the new grants?
  • Pension phase in.
Senator Hartley
Exemption question - can other grants we don't know about also be exempt?  Ans.  Property Tax relief, C.C.J.E.F. exempt.  She is concerned that distressed
municipalities are defined.  "So goes the city, so go the surrounding area."  PROXIMITY.

Ellen Shemitz
Agrees with those she doesn't do often (my summary) but she'll vote YES.  And after the vote she inquires if the interim votes taken on each definition might be counted
instead...answer is "nice try" remark from Co-Chair. (above right).



VOTE FAILS  11-12
OPM - designee, Steinberg voted no.  Hartley voted no  As did some non-governmental members as well as Republicans.  Who wasn't there?  Would it have mattered?
P.S.  It is funny sometimes when there is a tie and so much work must remain unfinished...

----------------------------------------------------------------------------------------------------------------------



NOVEMBER 28, 2016 SPENDING CAP COMMISSION AGENDA
FINAL MEETING...OR NOT?



    

V O T E S   T O    A D J U S T    S P E N D I N G    C A P    D E F I N I T I O N

According to the agenda, this "last" meeting will begin at 1pm and be a voting session on proposed language revising the CT SPENDING CAP.


We wonder if this Commission assumed that as the historical data has shown no increases in income, nor in inflation but a "necessary" increase in
government expenditures, it has come as a surprise that a change in power in D.C. might not have been figured in???  For example, one way a new
administration in Washington might view "need" for Federal Funding for infrastructure might be anathema to the present Hartford perception???

Please be advised that this is a 24 member Commission appointed by the Governor and the Legislative leadership of both Parties and there are
as best we can figure, eight Minority Party appointees.


----------------------

ONLINE VIEWING for earlier part (first two hours approx.) of meeting items as listed immediately below. 



We tuned in live but late...2 hours into the meeting.

BELOW, please find inserted the first two hours that took place Nov. 28 viewed the next day.

          

Item #1 - Definition of Pension Liabilities -  12-9
Union position and children
language - re-basing - "Under Court Orders" - an important thing to do if you don't want to make big tax increases to implement C.C.J.E.F.

Re-basing:  What does this mean?  OPM - OFA do it automatically.  Compromise on unfunded liability.  So when will someone blame Rowland?  Sen. Franz puts it nicely!
Sen. Kane:  Wouldn't everything has to be negotiated with the unions?  This is a deferment (Burt).  Steinberg says this will not pass.

  
Gotcha! 
Sen. Kane objects to looking at each component individually.  "Flip-flop" issue.    Sen. Bye asks what should be done taking it piece by piece.  Replaced to "other item #11."


    

Item #2 - Federal Funds - in or out?  Do Federal Funds count as revenue?  12-10
Medicade counted?  Hospital tax?  Surprise!!!  All federal revenue to be included!!!  Or exempt???  Reappropriation.  Medicade funds not included since
Governor Malloy.



                 


Item #3a - Grants to Municipalities - 13-9
Definitions come back to C.C.J.E.F. decision.  Business wants to see what is being spent?  Business wants certainty.

Item #3b - Court Orders not counted - 16-6
Sen. Frantz on this.

R E D    L I N I N G    2 0 1 6







Item #4 - C.C.J.E.F. v Rell  - in or out of spending cap?  16 - 6

--------------------

PUBLIC - PRIVATE. 
GRAUSTEIN as an example of money that had been gifted to establish things such as "conversations" on race, etc. and cross town line projects that
begat programs, that begat an expectation that then the Graustein $$ went away.  But expectations of continuation of programs were ingrained.  So the
Legislature then continued funding 100%.

Item #5a - Restricted funds.  VOTE:  18 -5
This is a point of process - grants not under cap.  AHAH!  Legislature starts a program to continue after it started by a grant.

---------------------





N O W   O U R    O N    -   T H E   -   F L Y    C O M M E N T A R Y . . .

Item #5 (b) - 12-11 vote.  What we found out was that "everything above had passed on a Party Line Vote"...well, not exactly.
Sort of, because the actual votes included one or two appointees here and there diverging from Party Line - for both Parties.


    

Workforce Development (#6 withdrawn) and children, families - investments treated evenly; :  Tax expenditures - Item #7 - 6-17 motion fails

                 

 

EVERYTHING REMOVED FROM SPENDING CAP UP UNTIL NOW (items 1-6 all removed from spending cap previously in this meeting).
Re-return of equalizing spending of expenses and revenues - a total non-starter.   But what do I know?  This is a total nonsense.  Film industry give-away
used as an example of negative impact on revenues.  Business v. children and families.


NEXT item #10 or maybe item #11 - 9-14;  minority report on the whole project? OK.  (Ziobron).

          
  
OTHER:  Moving the ball forward department - Sen. Kane.  Re-basing included (Franz).
Discussion - Cibes says it is out of the official "order" of what they are to be discussing.  Also takes issue with "majority" opinions about programs.  (Surprise!)
Pension system wording questioned.  Rep. Walker responds to Sen. McLachlan by suggesting everything should be under the Spending Cap (including tax
credits).  Co-Chair. Widlitz sets a 10 minutes break...out of camera view.



VOTE ON THE WHOLE PACKAGE:
How the heck are they going to do that? Can the Republicans give in?  I don't think so.  We predict 15-8 vote on the
"Package" if said package is the accumulated votes from the day...Co-Chairs. want to have a short meeting.  Remember that half of life is just showing
up.

NEXT MONDAY DECEMBER 5TH AT 1PM...one absence today - how many Dec. 5? 

Adjourned 4:54pm.

We note that Rep. Steinberg says there should be a "users guide" perhaps included with what had been approved...and Co-Chair. Widlitz noted dryly that she
expected that there would be testimony given by many members of the Commission at the time Spending Cap matters came before the Legislature.












SPENDING CAP COMMISSION NOVEMBER 14, 2016


We watched it the next day online for the beginning...

Minutes (notes) accepted.  Court orders, distressed municipalities, Federal Funds, re-basing not discussed yet. 


"Introduction of path to consensus" noted Steinberg.

WATCHING LIVE FROM THIS POINT ON
We only tuned in at 1:40pm
...inside, outside spending cap discussion...still trying to do definitions.

        

MONEY CHANGING AS OPPOSED TO CHANGERS
More confused than ever.  The elephant in the room is that this election may have made a difference.

 
" C I B E S :  N O    D E A T H    S P I R A L    F O R    C T. "    He got called on this by Ziobron.

If we maintain exclusion of retired thru 2020, we might be OK.  Also caps are not all alike.

Cibes cites  https://www.cga.ct.gov/app/tfs/20160330_Spending%20Cap%20Commission/05-19-2016%20-%20The%20ARC%20and%20the%20Covenants%202.0-2.pdf

     
NEVER
When would unfunded liability go away?


       

AWESOME SOUND
Great sound from speakerphone FROM CHINA location!!!
  Vilify taxes instead retrain workforce.

       
   
  

NEEDS V. WANTS AND MAYBE ANOTHER MIDPOINT
Thoughtful comment.  After listening to the first half-hour, the Kane proposal was awesome.

 Does the match for Federal Funds come under the cap?  Chase dollars from Feds may not a future plan?  MANDATES ISSUE???  STRINGS???


MORE MANDATES FROM FEDS FROM NOW ON?  NOT LIKELY AND IT WAS VERY AMUSING TO SEE NO ONE MENTION THIS POSSIBILITY
OMG!!!  The Republicans come up with language that is working!!!  Do you think the election Nov. 8th has made it possible for Spending Cap Commission to move ahead?

Waterbury final public hearing on Nov. 16.

N E X T    A N D    L A S T   M E E T I N G    N O V . 2 8 . . .










D E F I N I T I O N S

    


SPENDING CAP COMMISSION SPECIAL MEETING TO COMPLETE AGENDA
No quorum yet?  But meeting starts. And right off the bat, it is announced that no votes will be taken.


NO VOTES TODAY.  DEFINITIONS.  PENSION ASSUMPTION LIABILITIES???

Why is any of this important now?  Because question was not answered.  What are the liabilities? Amortization of accrued liabilities.

Not clear unfunded accrued liabilities.  Out year projections and pension due.  FISCAL NOTE FROM SPECIAL SESSION 2016 - state employees, teachers out years.


     
PHASE IN
UNFUNDED TAPER - HOW DEEP IS THE HOLE?
  • Must be for all funds (including Transportation funds) 
  • Amortization of unfunded accrued liabilities - do "phase ins" make sense?
  • Pension decision could tie the hands of the Legislature. 
  • Steinberg's  question on Phase In.  Seeking a methodology...amortization???
Lower the discount rate/amortization?  I had always wondered how finance folks assumed such a high % return.  Tie their hands?
Pension issues.  Aren't their hands tied already?

Comptroller's Office proposal we think means a really b ig number now and then smooth it out.  Toni Walker present!
If they have concensus, set stage today,

         
LABOR OPINION
Removing items from the cap does not water it down...agreement between labor and conservatism

FRAGMENTED
Waste of time? 
Back to definitions...statutory grants to distressed municipalities exempted.  Reason:  life has changed since 1991.  Municipal proplems v. no control.

BALANCED BUDGETS
How to rein in "distressed municipalities" spending choices?

BUT IS THIS RELATED TO ANYTHING?
Ho Ho - Cibes says property tax is uneven and perhaps unfair (because needs are in distressed municipalities who have zip property tax base)!

PROPERTY TAX POOR MUNICIPALITIES
Education aid should be added to 1991 subject areas.  Taxing power must be widened.

   
DISTRESSED MUNICIPALITIES LIST & MATCH
Federal funds.  Exempted from CT Spending Cap. 
How much to states on average get back?  30.8?  CT?  24.6%...Medicade exempted. Regarded as a "pass thru" - this does not square with 1991 definition.

HOW DO YOU FIGURE IN PELL GRANTS FOR EXAMPLE
My grandmother would have understood this logic - her answer re:  recipes are "according" - no reason.
Matched money exempt first year, not in years after (Cibes)

GUESS WHAT?  JOBS FUNDED BY FEDS FORCES STATE TO PAY HEALTH CARE - OR NOT???
In the days I worked as a planner, I always was paid through a Federal Grant of one sort or another.  I can't recall if I ever needed to use health care benefits - I must
have had them - or maybe I didn't - for some of these jobs I truly was a consultant...

FASCINATING "PEELING THE ONION" AS ONE LEGISLATOR NOTED

Ah yes, tne thing no one pointed out, it makes you cry.  Everything is bonded nowadays, so it seems!

THREE MEETINGS IN NOVEMBER WITH VOTES, BY THE WAY...CO-CHAIR NOTES
So much is outside the Spending Cap now. you really don't want to know...OPM asked to provide a list if possible - but OPM points out thay there are many different
kinds of exemptions...


   
IF EVERYTHING GETS EXEMPTED, WHY HAVE A CAP?
But remember that a perfect list of definition can be a way to paralyze government...on the other hand, it is worth a try depending on the composition of the
next General Assembly. 

Over now (we missed the last half our or so over lunch - 1:05pm now) - 3 meetings to come in November...












SPENDING CAP COMMISSION EXTRA MEETING
AGENDA

 

HYPOCRISY IN ACTION

Ziobron, Hunter and Frankel on phone.  Amending amendments time.

Bob Frankel on phone needs amendment in writing:  Doesn't have a copy.  E-mailed to all. 

State employees retirement fund
makes out.

PART OF THE AGENDA BELOW:




MOTIONS & VOTES - never mind what they are actually voting on - because the premise being on record might prejudice actions once the
entire package is presented.  See agenda (part) above.

Amendment goes down 8-13-1 abstention
Main motion passes 20-2
Next motion passes 17-0-6


Statutes reference
Hoho - the proposal favors unions over needs of agencies serving children and poor??? Three-fifths vote - still in?



E-MAIL
Not dealing with pension liability - O.F.A. should be able to tell us yes or no
..."NEVER MORE balloon payments" amendment (my words).

DEFINITIONS
It is nice to know that what I had always thought was the most important part of legislation - definitions - actually is so considered by those who know.  We note that
a rather sarcastic comment was made relating to how only some suggestions were considered important or worthy of being on the agenda.  And also noted that amendments
being proposed were not necessarily related to the agenda and there should be for the record motions to amend the agenda made.

 

The best thing about this meeting is that it reconfirms for me that CT-N is the best entertainment around...
No agreement.
  Are we surprised?

So on Halloween Committee will vote
...NEXT MEETING TRICK OR TREAT  Monday Oct. 31st at 10am. 

Adjourned 4:17pm.

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------


SPENDING CAP COMMISSION OCTOBER 17, 2016
AGENDA


           
MEETING LASTS UNDER THREE HOURS
Co-Chair. of Spending Cap Commission does her best to accomodate those members new to the ways of Legislative "action" as well as the main reason this Commission has
been created.
  Question from some regarding the fact that items on the agenda should not be considered "final" until all public hearings are finished - the present group being
conducted by Congressional District and those after a Final Draft is produced.

Co-Chair. of Spending Cap Commission goes on to get into protecting bond rating - no sweeping anything under the rug.

       

RESEARCH DEPARTMENT (UNOFFICIAL)
Evidence produced of what 1991 intent was.  Makes a lot of sense to me!  How can pension liability go under the spending cap?  Three on speakerphone.
Excellent input from the speakerphone Green Bank guy!  Tom always has the answers (r.)

BINGO!



Meetings ends early as agreement on #3 falls apart - general budget expenditures is the nexus of disagreement..


Special extra meeting set for Monday (?) to finish off this discussion.


---------------------




SPENDING CAP COMMISSION OCTOBER 5, 2016
AGENDA

OPM and Comptroller's Office.  Plus discussion but no voting on other matters.

   
Ben Barnes OPM
Pension funding discussion.  Where is CT in funding pensions?  Began 1939.  Pay as you go originally.  1971, 1982 began advance funding.
8% growth makes 2032 end.  8% investment return, symbolically in red???  Boston College "stress test" at 51/2% 7 billion payment would make up maybe half the budget???
Says we did a a lot in 2011-12 to reduce ultimate impact.  Also for Teacher's Retirement.  (The best we've ever seen him in testimony.)

Sen. Frantze 7% nationally on collective bargaining.  $33 million is one percent of CT payroll.  Pensions already committed to are debts.  Train Wreck? Defined benefit
plans better than any other managers private system (Barnes).  Next ten years won't be better...

Pre-funding, amortization "inside baseball" during Gov. Rowland, if memory serves.  Assumed rate of return never met.  30 years is the time horizon for interest rate.

    

PROFIT/LOSS
Ah yes, how does government accounting differ?  Furthermore, is not the Commission's work centered on "Spending?"  Where does that fit into a P/L statement?
Not.  There's economics and then there is government economics...Norway example above right


Not telling anybody anything that they didn't already know - falling back on Boston College study again.

I am reminded of my "Robert F. Wagner School of Public Administration" once again:
The late Mayor Wagner was known for not taking swift action.  To the point where it sometimes seemed his was a pro forma approach to take up issues by shelving them for
3 weeks.  After three weeks he would check up on them.  Finding that more than half had already been "solved" or "disappeared."  So he would shelve the remaining ones for
two weeks more...and then and only then would he address them himself.

Online definition of http://www.ssb.no/en/offogjeld/

PENSION LIABILITY NOT ON THE TABLE (Cibes point of order)

Funds shifted from general appropriated items to new bonding?  Yes it is done (Barnes).  Any rules you make in the Legislature can be changed.
Roberto Hunter, Green Bank, says it isn't out of order because impacts of shifts add perspective...do we have to have self-inflicted limitations?

More to come...FIRST FIVE PLUS
news?






 
SPENDING CAP COMMISSION SEPTEMBER 26, 2016
AGENDA

Lot of people on the telephone.  Minutes approves.  Continuation of what should be under the spending cap.

BONDING:  Should it be under the spending cap?  COST SHIFTING.  BORROWING TO PAY DEBT.

MORE BONDING as it relates to spending cap.  Note the purview of this commission - BOND PREMIUMS.   Who's to blame?  OFA "URA Tax Credit?"

     
SHUFFLING $$?  June 21st letter $630 million in premiums in order to sell bonds...or a smaller number.
Bond premiums as debt service then it is moved to another.  Transferring funds between debt service to other line items - ask OPM.  And they say what
I assume CT never pays off it debt.

     
OTHER EVIDENCES OF INDEBTEDNESS

Throwing up his hands, Richard Smith says to stop kidding ourselves, and figure out how to pay debt...(what no one is saying is until States are allowed to go bankrupt,
nobody can touch debts and they must be paid.  
Ziobron points out pension is a cost and not a debt...but  she thinks includes all spending.  Shemitz points out people
consider it as debt, not expense.  "Spending Cap" is not the vehicle.

            
  

Pension is an obligation.  It is a liability but it not bonding.  AFL-CIO speaks.  Pension should be made in a timely.  O.P.E.B.


     
AN IDEA FROM WEST HARTFORD PERHAPS TO PASS THE HAT?
More info needed?
  How will we manage spending in the future?  "Outside the spending cap" is a joke.  We will complete watch tomorrow...










     
NOTE:  Lori Pelletier present by phone and seconded motion below.

   
  
SPENDING CAP COMMISSION SEPTEMBER 19, 2016
Agenda

Telephone voting vote - it passes.

Minutes
- Accepted with a few changes.


     

   

     
CHECK THIS OUT FROM THE REGIONAL GOVERNMENT IN GREATER HARTFORD FOR SEWER SERVICE...

"Increase in Inflation" (Holy funding Batman, it is Economist Speak - CCJEF brought up by Chairman Cibes)
  • William Baumol cost disease.  https://en.wikipedia.org/wiki/Baumol%27s_cost_disease
  • How do you compare Government output with private sector?  Person services are the product for government sector.
  • But they need to discuss BEA price index.  AFSCME position.  No data to back it up.
  • Price index peculiar to CT needed implicit price deflator.
  • Inflation in CT is not the best was to do it - NATIONWIDE INDEX recommended.  State-specific data not current
  • Consumer Price Index instead - Shuldman.  Productivity gains have to be included.  License to steel.
  • Frantz lays it out as a conflict to go away from traditional CPI.  Or C.P.I.U.???  "Will of the people"
  • Increase in personal income or inflation?
  • Government purchases services - percentage impact - to hand out more services.  (Baumol's again);
  • PRODUCTIVITY.  Education, developmentally disabled not productive.
  • Unavailability of revenue might bring about change.
  • MOTION:  Strike all replace with "CPI urban" - Ziobran.
  • Tweak the spending cap is the Chair.'s motion - McClaughlin...Davis, Steinberg, Hunter, Fiore, Hunter, Shimetz
  • "Basket of Goods and Services" argument response by Cibes. 
  • Steve Cassano, Lori Pelletier, Ellen Shimenz on the phone - 17 people;  11-6;
  • MOTION:  Change to 10 year lookback - "Not a friendly amendment//" Ziobron.  STANDARD DEVIATION.  Withdrawn.
  • Volatility amendment removal by Hunter:  "Lookback"  ENERGY is volatile.  MOTHER NATURE too.  COLUMN 'E'
  • COST OF GOVERNMENT SPENDING CAP is what we're talking about - so perhaps taking ENERGY and WEATHER out.  Vote 18; 13-5
  • FINAL VERSION:  VOTE: 18; 16-2.  TO GO TO PUBLIC HEARING.

Future meetings and Public Hearings:  We didn't get these dates clear - but the minutes will reflect the accurate data.

  • Sept. 26 (Expenditures);  10am
  • meeting Oct. 5 plus PH subject matter (date?) in 
  • Oct 12 rescheduled
  • Oct 16
  • Oct 19 NHPH  4-7
  • OCT26
  • OCT 31
  • NOV 16  
  • Nov 21 final meeting

Times - 1pm meeting, PH at 3:30pm (4-7)






SPENDING CAP COMMISSION SEPTEMBER 7, 2016
Agenda
Defining "increase in personal income"

      

HOW TO EXPRESS "DISCOUNT RATE" AS AN ACTUARY...COMMENTS:
Bad news.  Guess what?  CT hasn't put in enough money.  Good luck.  Unfunded liabilities...who knows?  Don't count them - they are general expenditures.
Government debt is underwritten tax exempt securities.  What's in and what's out?


             

WHICH SIDE OF THE LEDGER DO YOU PLACE THINGS?
How can CT deal with pensions?  They crowd out resources.  Pensions not evidence of indebtedness.. .money borrowed to take care of indebtedness...fixed bonded different
from retirement $$.  Pension is compensation not liability.  Is this honest?  Treasuries so low everything has changed.  How much risk should government take?

How do you do the actuarial risk?  What is the discount rate?  Ans.  Where you invest is the beginning of calculation...PROBABILITIES.  State Employees Retirement
Rate.

  

TECHNICAL ARGUMENT
- "compensation not debt?"   Unfunded liabilities.  Pension obligation bonds.  They move risk into private sector GAMBLING.  Bad
estimates.
  1:13 (out of 4:15) .

 

          

JEOPARDY
No growth.  Not in CT - they have grown elsewhere in CT.  Rules always changing.  We're going to need higher takes because spending is growing faster than income growth.
All spending except debt service should be under the cap.  AIR TIGHT CAP.
Be accountable - put court settlement under cap.  Once you start making exceptions, you are lost.

Uncertainty.  Picky taxes.  Ambiguity in the wording.  Emperors new clothes.  Bad lie.
  Competitiveness???  CT less profitability.


     

HOW HAS SPENDING CAP ISSUE MORPHED?

Sen. Hartley:  Court ordered mandates?  What is the mechanism to override the cap?  Ans.  Everything other than bonding.
Sen. Cassano similar. 
Cibes reminds up of "Cul de Sac" study.  See reports above (covers).  "Debt Service" should not be under the cap.  HATBAND LOOSENED(msw)?

VOTES TO BE TAKEN  After LUNCH

           
MASON'S MANUAL moved,  TELEPHONE VOTING amendment
for fulling informed folks"Real Time" only.  "Watch Dog" agencies have members telephonically
participate.  This is the most difficult thing they have done.

         

NOT SURE THEY VOTED 'CAUSE THE LANGUAGE NEEDED REFINING
NOTES:  Minutes accepted - so what is the rule about a quorum???

 


OPTION ONE - VOTE ON AMENDING CALENDAR TO FISCAL
Which is easier for OFA?  No problem.
"Definition of income" is 60% of all of this;  OLR says keep it both on fiscal.  Who is responsible?  C.G.A. 


AFTER CO-CHAIRS. GIVE IN...
VOTE is overwhelmingly NO (17 people voting) which is in favor of calendar numbers (as opposed to fiscal year for one or both).

    
NO is five years - unanimous.
5 or 10 years.

QUESTION:  WEEK OF NOV 14th public hearings in five congressional districts - what's up?  Couldn't these PH's come before the Election?

NEXT MEETINGS:  SEPT 19, OCT 5...
__________________________________________________________________________________________________________________________________________



SPENDING CAP COMMISSION AUGUST 15, 2016 - no agenda online on Tuesday, August 16;  several reports but not published. 


         

August 15 meeting starts at 1pm...no quorum EVER to date - really - can you believe that?  Apparently, by never voting on anything, they think that's OK!!!.

Minutes notes not approved until next meeting.  Attorney General will not respond to Spending Cap Commission - must go through Governor.

PETER GIOA, VP of CBIA
:  Gives history.  High spending times, biggest source of revenue - really big THEN. 
Van Winkle asks why pensions included?
Ziobron:  Flat rate?  No - poor get to not pay on their x amount of income.  BUT:  Same rate otherwise - lots who did it didn't run again.  So the next legislature never
implemented it. How has it changed?  ANS:  Lots of medicade and other BIG numbers were taken out.  Distressed municipalities issue.
Cassano: "Court case across the street" have impact?  CCJEF.
Bart:  Death spiral?  ANS The message has to be sent that the State is fiscally responsible. 
J.Steinberg:  Double digits anything a dream.  RAINY DAY fund and Spending cap combo -can it work?  ANS Make sure to have 95% of income spending limit.
J.Steinberg:  What's up with benefits?
Shemitz:  Definition of "distressed cities" top 25?  ANS  According.
Kane:  High wage v. low wage.  How has post 2008 employment gone?
Ziobron:  Re:  Lookback value 5 or 10?  ANS  According.
Bart:  Re:  difference between gov't and private industry bookkeeping...Isn't it all income and expenses?
Davis:  Recession coming in U.S.?  ANS No.  But corporate tax revenue is down...
Cibes:  Studies?  ANS  Personal income tax on businesses (i.e. LLCs) potential.  #2 Q - Aid to distressed municipalies - need/capacity gap - shouldn't updates come in
definitions?  Investment in infrastructure?  Cuts to be made by Legislature in order to meet cap against infrastructure and education.  Shifting taxes to Metronorth commuters.
Ellen:  BINGO - Is the public aware of this Commission's work?
Bart:  Reflects on last meeting and wonders why we are in a fix. and what has to change.  ANS  If one chamber is one Party and the other the other there might be better discussion and compromise.
Cibes:  1991 cap work?  ANS yes - but
Bart:  Really?  ANS  Long term responsibilities not included.
 
MASON'S RULES MOTION - what are the differences with Robert's Rules?  What's Absentee?  Binds people to be present to vote.  Amendment:  Van Winkle proposes an
amendment can't phone in 8 people???  Telephonic attendance is prevalent in State Government.  Widlitz opposed to amendment (but notes later she is willing to entertain
notifying everyone when a votes is to be taken).  Kane:  Why now?  And by the way...can't discuss amendment under Mason's.  Table motion made...Cassano says we should "leave it open and make flexible" Second, it is tabled. 

NOTE:
Looks like 24 members of Commission - so while I've been watching, there has never been a quorum present, and I think I heard that there has never been had a quorum
present over a year.  But then, JMO, it was never expected to have a quorum until they vote!  This might explain why no minutes posted!  But not why website did not list agenda.


Guidepost for the future OK'd by consensus.  Is there consensus?  Ho ho ho - consider that some members have not attended even one meeting...and exactly how many
members have done almost "as well" as AFL=CIO.


WHOA!!!
           

Monday when we accidentally found it...

Discussion doesn't seem to be at the beginning.  They are talking about B.E.A. personal income as the decision from last meeting. 

Imputed rent definition - value of your home converted to "imputed rent."  Capital gains? 

Inflation measures next:  OPM removes inflation during the process.  What if costs of government are outrunning inflation?  Role of implicit price deflater?

NEXT MEETING:  September 7 at 10am and vote on personal income.  Also on which rules of order  to use.



______________________________________________________________________________________________________________________________________________


There was a meeting July 18th that we missed...



SPENDING CAP COMMISSION AUGUST 1, 2016
Item one discussed - see "next meeting"



              
ITEM THREE - WE TUNED IN TOWARDS THE END - PERSONAL INCOME PROJECTIONS*
Two hour plus meeting. 

Preliminary Consideration of Various Options for Spending Cap Definitions

DRAFT of Chinese menu of options, spread sheet:  Watched the beginning after lunch!

UNDER CAP
  1. Time.  B.E.A. personal income
  2. Inflation: Consumers CPI or CPIU;  consumption.  Question - is there a state or regionaLCPI?  No.  CPIU for NYMetro.
  3. Government purchases - what is the best way to measure this?
  4. Transfer payments not included (short way to say government aid from Washington);
  5. Personal services.

CT VOICES FOR CHILDREN:  Requirement of "general budget expenditures" definition is a problem...usual ordinary funds yes, but she thinks language should be included.
Federal aid exempt first year, then has to go under the cap.  Perhaps a definition of "pass thru" instead of naming all of them?

NOT UNDER CAP
  1. Bonds, notes excluded.  Bond premiums? 
  2. Unfunded liabilities - is this indebtedness?
  3. Court ordered;
  4. Grants to distressed municipality.
  5. "Economic growth" investments not bonded.
  6. Non-appropriated funds - Medicade (Pell Grants not, other).  Where does the hospital tax fit?
  7. Revolving funds? 
DEDICATED FUNDS
"Lock box" is an example.
Dedicated revenue streams
Higher education fees.

TAX EXPENDITURES

1980 thru now
Most modern data used on income - 5.48 annually
Calendar vs. fiscal year.
Personal income.- vs. State growth - a proxy for "How are we doing in CT?"






ITEM FOUR POWER POINT PRESENTATION SPENDING CAP

Emphasis on low and moderate income.  Do they limit size of government.  Reference to her paper - where is it?  Property Tax revisions. 
Boston FED Bank report - related to property tax.  Property Tax at stake...personal income means the ability to pay.
"Allowable spending" from pre-recession level, when things improve state aid starts from a higher base - sure.
Debt payments don't get lumped in with other expenditures;  pension payments now are considered "unfunded liabilities" (not yet in CT);

And now we are at where we came in!  Price deflator (state and local government purchases lower it) question.


  • So this is someone who "wasn't around" when spending cap was approved.
  • 28 states have Spending Caps. 
  • Assuming we don't overspend when windfalls appear.  "Rainy Day Fund" has a cap?
  • CCJEF case:  What if CT loses?  (Senator Fasano question.)
NEXT MEETING:  August 15, 2016, 1pm - vote on measure of personal income - plus speakers.

--------

*There may have been a long discussion for item three...definition options for the Spending Cap.
_______________________________________________________________________________________________________________________________________________



Spending Cap Commission, July 7, 2016


Economics 101.
As Harry Truman is remembered as saying:  "I never heard of a one-handed economist ('on the other hand')"



Another argument:  Zero growth in anything that did not permit technology to improve productivity.

What is total output?  Demand elasticity relates to price except when people keep buying.  Construction industry is dynamic.





PRODUCTIVITY
Demand is inelastic in service industries but it is increasing as a share of our economy - creating SECULAR STAGNATION.



ITS THE NUMINATOR STUPID
Measuring output is determined by what you pay the "input."  That's our story!  Rep. Steinberg suggests adjusted P.I.

         

RECOMMENDATIONS MIGHT INCLUDE CHANGING THE CONSTITUTION
The Tax Panel referred to as a failure because of its charge - is this Commission in the same box?

        

GOD BLESS OPM GUY!!!  YANKEE INSTITUTE MAKES A LOT OF SENSE
I've got the answer!!!  My artistic output is an example:  http://www.aboutweston.com/ParisEnvirons.html

BINGO!
Limitations on cost of government suggested by...Chair. Cibes.  Engage state workers how to make their jobs more efficient WHOA - CT bargaining suggestion box.

CAPITAL GAINS
Wage income can't be taxed twice. 

OTHER REPORT:
https://www.cga.ct.gov/app/tfs/20160330_Spending%20Cap%20Commission/20160707/Comparing%20the%20CPI%20&%20PCE%20Indexes.pdf
Can you exclude imputed rent?

     

DECEMBER DEADLINE:  NOV. 14th - final Congressional District Public Hearings state-wide. 
Could the Commission provide choices?
  Divided opinions?

NEXT 1pm?

7-18-16 state-local taxes
8-1-16 budget policy priority
8-15-16 still no quorum
9-7-16
9-19-16
10-5-16
10-17-16
10-31-16

_
______________________________________________________________________________________________________________________________________________




Spending Cap Commission June 20, 2016

Meets at 1pm in the L.O.B. Room 1E...

        

BINGO!  STABILITY IMPROVED BY MORE AND LONGER MEASUREMENT
Comptroller Kevin Lembo addresses Commission and gives a lecture on economics.  Trying to limit volatlity of Spending Cap.  No "gaming" measures.
Pat Widlitz brings up the differences of the economy - public and private.  Business cycle more like reality.

BACK TO THE LEGISLATURE...OOPS, SENATE STANDING AT EASE.


SPEND LESS IN GOOD YEARS?

"License to steal?" Unfunded liabilities...




______________________________________________________________________________________________________________________________________________


Spending Cap Commission May 9, 2016

              
  
REP. STEINBERG  ALSO SPOKE  WELL

Sharp-eyed new legislator;  2nd and 3rd from left, CO-CHAIRS.; PREVIOUS COMMISSION ON TAX STRUCTURE CO-CHAIR. (r)

  • A report comparing the indebtedness of all the states discussed, we assume;
  • We tuned in halfway thru (sorry - we didn't notice this meeting posted).
  • All the usual suspects appointed and all the usual suspects gave testimony. 
  • Wednesday 25th of May at 10am, next meeting of Spending Cap Commission.
  • New Minority legislator points out what a short time frame they have - suggests working backward from deadline of completion.
  • CT-N thanks again!!!
______________________________________________________________________________________________________________




     
SPENDING CAP COMMISSION, Wednesday, May 25, 2016.  AGENDA
"A" and "B" exhibits took more than an hour. "C" was nice review of Economics 101!  Co-chairs Cibes and Widlitz



BUDGET 2017
"If you put pensions in it would have been over the cap..."


  
TROUBLES AHEAD?
This discussion of "spending cap" reminds me of the old story "Bartholomew Cubbins..."
  Capital gains tax...a LAGGING INDICATOR.




GOOD POINTS
Pension 42 teacher 50 percent funded.
  Debt downgraded.


EVIDENCE OF DEBT MUST BE PAID;  This is the gentleman in charge when income tax first introduced.
Cibes makes the case that Tier One has been ameliorated and everything is OK...my word here.



Appropriated funds - putting together a ways and means committee
Moving things off budget question.  Send link for "First 5 into 25."  What is an emergency?  Emergency to support spending cap?

----------

OFFICE OF FISCAL ANALYSIS took the fifth, sort of.


       

----------

INFLATION CALCULATION EXPLANATION MAKES CLEAR WHY CONNECTICUT IS IN SUCH TROUBLE..."IMPUTED RENT" MEANS FUDGE FACTOR - LIKE OTHER
FEDERAL DOCUMENTS (U.S. Census, done on the honor system, max. income $ level too low for Fairfield County, for example).


Indexing the economy - like playing the horses - my comment.
C.P.I. used since WW1
reading from his own notes, or C.P.I.U..  Price index - weighted.  "Market basket" of items in index not variable enough, perhaps - or maybe
too many?  Blame the housing bubble.  Housing, transportation, food and beverages. IMPUTED RENT is the biggest fudge factor.  C.C.P.I.U. is even more fudged.

     
PROFESSOR IRWIN COREY WOULD BE PROUD...KENNEDY GOT BETTER AND ALSO WILL BE SUBMITTING HIS REPORT FOR THE RECORD.
OMG, not only is this guy not confidence inspiring, but he is color blind and can't read his own tables.  Price change and income - one from labor one from business.
Makes clear that nobody wants anyone to understand anything.  Economics is a shell game.

Is there a test after this?  Owners equivalent rent.  Consumer survey asks, other one is imputed by area rent number  42 to 23  weighting. 

Core price indexes.  Removes food and energy.  Any underlying inflation or deflation in less volatile numbers?  Question which is better for government and speed
of compute?  MOORS LAW.  "Square root" better than simple math

SPENDING CAP math?  What is the best method - cost of government as well as what consumer can afford.  I've got the answer - INPUT-OUTPUT ECONOMICS.  And
the number of jobs created by "basic industry" as opposed to non-basic (i.e. service jobs) industry and then government.  Of course, basic industry ain't in U.S.A.
anymore - or not?

COST OF GOVERNMENT IS SALARIES ETC - THE ELEPHANT IN THE ROOM...


Indices of real income?  Shifts in job types.  Paradox of income being support for government.  Demand for government services means more expense, not "profits" as concept.



WAIT A MINUTE...
Policy decisions not the charge here, Porth warns.
  Advocates for children etc. want to make policy.

_________________________________________________________________________________________________________________________________________________




 


   
  


C O N N E C T I C U T    S T A T E    T AX    P A N E L




And now the Spending Cap Commission is going to recommend something on this, we assume.
------------------

FINAL REPORT OFFICIALLY ACCEPTED BY THE COMMISSION (Property Tax item in Appendix - see above):

https://www.cga.ct.gov/fin/tfs/20140929_State%20Tax%20Panel%5CCT%20State%20Tax%20Panel%20Final%20Report.pdf


Jim Cameron reminds us in his July 8, 2019 column:
https://portal.ct.gov/-/media/Malloy-Archive/Transportation-Finance-Panel/20160115-TFP-final-report.pdf?la=en

Early in the process...Public Hearing 9-16-15, which we watched online;


Meetings of the CT TAX PANELwe watched online, or intended to, in reverse chronological order:

1-29-16 at Finance, Revenue and Bonding
12-15-15
12-8-15
11-17-15
10-27-15
10-13-15
9-30-15
9-16-15
Teleconference week -
Monday - Friday July 27-31, 2015.  Sound only - Monday not recorded in CT-N.


And the meetings are over now: 
http://customwire.ap.org/dynamic/stories/C/CT_CONNECTICUT_TAXES_CTOL-?SITE=CTNHR&SECTION=STATE&TEMPLATE=DEFAULT&CTIME=2015-12-15-17-56-48

News reports:

http://ctmirror.org/2016/01/04/new-probate-court-fees-come-under-heavy-fire/

http://ctmirror.org/2015/12/29/panel-struggles-to-solve-states-property-tax-woes/

http://ctmirror.org/2015/09/16/popular-proposal-for-tax-reform-roll-back-recent-increases/







CT TAX PANEL SEPTEMBER 16, 2015 PUBLIC HEARING

    
PROGRESSIVITY / REGRESSIVITY in CT above left...next meeting of Tax Panel September 30, 2015.  Testimony (written) at Public Hearing here.


              
Our guess:  The Legislature won't be too interested in their work - except to add a new State Property Tax surcharge so as to redistribute funds so collected to cities and
towns to bring ECS grant up to 50% in all but "wealthy" districts.


State Tax Panel PUBLIC HEARING coming Sept. 16th


Tax Code built in short term patchwork process - this Panel is to provide simple version.  Fairness.  Intro; Mary Finnegan has a clock and a hammer.  Tax neutral - not intending
to raise or lower.  Equity and efficiency.  Equal yield.  Broaden or narrow the base. 

  • Coin Opp / Car Wash Assoc. speaker.  Sales Tax.  Machine in self use car wash.
  • Leo Canty "1000 Friends of CT" - 169 towns.  Property Tax regressive, voter push back.
  • Ambulatory Surgery Ctr - gross receipts tax at last minute.  Notes that it was last minute.  61 surgical centers, smallest not having to pay it.
  • Anesthesiologist same day procedures.  Ambulatory surgery - cataracts, hips, colonoscopies.
  • Estate & gift tax.  AARP - most expensive place to die.  PROBATE FEES.  NYS gradually upped to $5 million.  GIFT tax idea:  within 3 yrs brought back into estate.
  • TAX FOUNDATION new study:  How do states compete?  April 2014 data.  CT headquarters 19%  6th highest;  R&D 14 8th highest;  manufacturing low.  Broad base
  • might be better with lower rates.  Get rid of tax credits?
  • Voluntown Economic Development:  60% is CT State forest.  PILOT funds go down.  "490" property.
  • Hospital Assoc.  against tax on hospitals,  29 hospitals in CT.
  • Human Services:  Says "sharing" didn't pass.  He doesn't know his facts.
  • CT VOICES FOR CHILDREN:  Fair and accountable unitary reporting favored.  Property Tax Reform.  Tax circuit breaker.  4% surcharge on income over $1 million.
  • Yankee Institute.  Hap-hazard system.  IRS migration data  Outmigration tax returns source...we have to go to a meeting, will revisit this PH later.
  • And we did, on Thursday.  C.B.I.A. quotes 21st Century panel.
  • Health Care and Leisure Hospitality highest growing sectors income tax not a growth tax source - consumption taxes are better.
  • Unitary, reverse cuts to tax credit reduce probate fees - Toni Boucher statement read by staff.
  • Lyle Wray:  Capital Region has 1 million people.  Tax-base sharing from MI.  Assumption of functions by State.  Permanent funding for property tax.  Statewide property
  • tax of 1%.  Target relief to those who need it.  (Homestead exemption or circuit brake.)
  • CCM:  Property Tax is the problem.  ECS unfunded.  Fully fund PILOT.  Municipalities nervous about State dipping into property tax.
  • Retired state employee says wealth gap - MI solution.  Top 2% now pay over 9%.
  • Bill Cibes:  refers to Sue Merrow;  also only one who got questions late in the evening.
  • Ambulatory Surgery Centers testimony.  Health Care Exchange now here.  Affordable health care providers abandoned by this year's tax or surgery centers.
  • Sue Merrow - fully fund PILOT;  needs capacity gap
  • Phelps Platt - depreciation of property tax can't sell houses.  Living on retirement savings.  Stampede of those leaving - need to take hold of economic growth. 
  • "At some point you are going to run out out of our money."
  • Commercial real estate...

___________________________________________________________________________________________________________________________________




FINANCE, REVENUE AND BONDING PUBLIC MEETING JANUARY 29, 2016 - 12 NOON to 2PM (as long as we could watch)
It may have gone on, but CT-N froze while a legislator was bloviating- after criticizing the summary because he need the details -
obviously, he never went to his own Committee's website - wherein the CT TAX PANEL page is located including links to all documents

        

THIS IS IMPORTANT BECAUSE FRB WILL BE DRAWING UP BILLS.
Friday, January 29, 2016 had intro by Co-Chairs, then 30 minutes by consultants Ebel and the Property Tax guy...Bell.  Built in inequity - value will grow
less quickly than expenses.  Regressive.



Boston Fed report related to this table above.





We went to lunch at this point...when we returned, the FRB were asking questions.  A three year old seated at the Committee back row did not fall asleep
during this entire meeting.  PA490 brought up.






DECISION DAY - SO FAR, BEFORE LUNCH, NOT REVENUE NEUTRAL BUT NO DISCUSSION OF PROPERTY TAX YET EITHER...BUT WAIT!!!

           

December 15th meeting should be the last one...or not?  Will there be a "minority" report?
CONNECTICUT STATE TAX PANEL
December 15, 2015
Legislative Office Building, Room 2B
10 AM—4 PM AGENDA

1. 10:00 am -- 10:20 am: Remarks by the Co-Chairs William Dyson and William Nickerson
Meeting begins at  10:16am.  Minority opinions to be included, to.

Request to do this first - not accepted.  Property Tax ideas: 
https://www.cga.ct.gov/fin/tfs/20140929_State%20Tax%20Panel/20151215/Property%20Tax%20Draft%20Rec%20meb%20%2012-12-%202015.pdf

2. 10: 20am -- 10:35 am: Review of Discussion Materials by Robert Ebel, Executive Director.  10:22am. 2 documents:  Summary and staff papers

3. 10: 35 am -- 3:45 pm: Panel Discussion and Decision Making:

INDIVIDUAL INCOME TAX:   https://www.cga.ct.gov/fin/tfs/20140929_State%20Tax%20Panel/20151215/Individual%20Income%20Tax%2012-12-15.pdf
CONSENSUS - meaning of means test?  Exists, but underlined resident and differential.  Teacher (JMO CAN'T DO) and military now excluded...
Option 1 over 2 - 10-3 Option 2: Treat all retirement income other than federally mandated ERISA exclusions as ordinary income in the base of the Connecticut
Individual Income Tax.


SALES TAX: https://www.cga.ct.gov/fin/tfs/20140929_State%20Tax%20Panel/20151215/The%20General%20Retail%20Sales%20Tax%2012-12-15.pdf

SIX RECOMMENDATIONS:

Votes will be cast but not announce as a total.  1-3 have difficulties in collecting;  five is bnb;
 
ONE,TWO,THREE:  CONSENSUS yes, if you can collect it.

FOUR: Recommendation 4. Adopt the presumption that the Connecticut retail sales tax is a tax on final consumption that is to be broadly applied to all
goods and services; if exemptions are to be allowed in, partial or whole, the Assembly must be explicit in their rationale for such treatment.

FOOD & SHELTER taxation?  Only bold.  Broadening the base?  Discussion and vote:  Consensus -  or not?   Should it be phrased in the double negative?  Voice vote
"aye."


   
FIVE & SIX:  BUSINESS TO BUSINESS (5) AND TAX HOLIDAY (6).  To be taken together.  Consider going to single business tax and entity limit (Sullivan).

VALUE ADDED:  https://www.cga.ct.gov/fin/tfs/20140929_State%20Tax%20Panel/20151215/General%20business%20taxation%2012-11-15.pdf
STUDY - or did we say that already???  "Recommend evaluation be undertaken to establish a single business tax in CT" or something like that.

Recommendation 6: Tax Holidays
Eliminate the practice of a sales tax holiday???

TAX ON SOCIAL SECURITY. 
And the other paper:  https://www.cga.ct.gov/fin/tfs/20140929_State%20Tax%20Panel/20151215/General%20business%20taxation%2012-11-15.pdf

More business tax talk...and Estate Tax out-migration study?  GIFT TAX and including it in the estates...or "eliminate gift tax."


Then lunch.  1:15pm return for Property Tax

There had been concern expressed regarding Property Tax being ignored, so there should be an interesting discussion here! 
Consultant's report here:  https://www.cga.ct.gov/fin/tfs/20140929_State%20Tax%20Panel/20151215/Property%20Tax%20Draft%20Rec%20meb%20%2012-12-%202015.pdf

And they are back at 1:24pm:
DRAFT:   3, 4 &12 have been changed, not online, to be discussed after the first bunch below.


1.  Fractional assessment 70% to 100%
2.  Five year assessment to annual...could be Regional COG effort.
5.  Single circuit breaker
6.  PA 490 - done - intention to suggest not having 490 on already sub divided property.
7.  OK
8.  Personal Property tax
9.  OPM says OK - but suggests uniform form.
10. Let it play out.  (WARNING:  It gets diverted)
11. Antique vehicles - current market value recommended.  Unintended consequences - registered elsewhere.  Hemmings Motor Vehicles online.
20 years is "antique"




TAX-EXEMPT PROPERTIES PILOT
Violation of neutrality principles.
4.  Did I hear Melinda Asgar(?) say this...regional taxation to make up for PILOT - Sonja Googins & ACIR suggested this years ago!  Is this really being recommended?
Bill Dyson asks about services provided outside town boundaries (Yale New Haven Hospital)?





3.  Local Fiscal Disparities.  State-wide 42% of tax paid is property tax.   Affects business.  OK.
12. Conveyance Tax - completely different document from last week - targeted rate language based on previous meeting's report.  To use money to encourage economic
development.  HOW THE HECK TO WRITE IT UP?  Rationale? 


Explanation of the M.R.S.A. 0.5% tax by OPM.
7. "Local" sales tax - redistributed - REGIONAL COGs WITH TAXING POWERS NEXT?  M.R.S.A. last session.  A BIG NUMBER.  How it is redistributed?  THIS IS THE
WAY TO REDISTRIBUTE $$.  This gives property tax relief where it should go.  NEEDS-CAPACITY GAP.

What if market says "no more to G.O. bonds."  Read here of related matters:
http://ctmirror.org/2015/12/16/sp-threatens-to-lower-cts-bond-rating-if-malloys-pension-plan-is-adopted/

Why not use original language...excluding regional tax issue?

Voted before a quorum disappeared...now consultants must prepare "short form" and "long form" reports - my choice of words.

NOTE:  Best tax commission ever because no politicians had voting rights.  Now you have to sell it!


4. 3: 45 pm: Closing Remarks
5. 4:00 pm: Adjournment







Would school expenses not be funded entirely and thus require extra local funds (if allowed) to match expenses?
WESTON PUBLIC SCHOOLS DEAD IN THE WATER?  
https://www.cga.ct.gov/fin/tfs/20140929_State%20Tax%20Panel/20151208/State%20Proprety%20Tax%20Role%20CT%20%20meb%2012-3-15.pdf



DECEMBER 8, 2015 AT 10AM IN LOB - ON CT-N;  awaiting a quorum.

Thank you CT-N - the Legislature is in Special Session but what the heck!  This is equally important!!!  And related to what is going to happen regarding the Spending
 Cap (R.I.P.)  Fifteen members - 8 is a quorum (but many who speak are Ex-Officio).

Co-Chair. Nickerson calls it to order 10:16am.

           

Sullivan speaks to "suggesting" by section with bullet points.  "Should" in better than "shall."  State tax in morning, local in afternoon.

CT Personal Income Tax (CPIT)

Treat retirement income as any income.  Flat tax doesn't work for CT.  Capital Gains - lower it?  Substitute Federal code.  Non-Erisa?  Teacher Retirement?  COMMENTS
(Tax att'y):  Cost-Benefit considering Earned Income Tax Credit fraud (Sullivan counters this), Social Security tax not a good idea, Capital Gains lower.
COMMENTS: (Poverty advocate):  Who is it that CT wants to invest in?  Elderly, young???  GenX argument.  Yes to tax retirement income (means test).  COMMENTS (COST):
Another member points out that teachers were never taxed, plus however long, some has been awarded beyond what was put in.  earned income may cross with SALES TAX. 
COMMENTS (tax lawyer):  No exemptions as mentioned in report...response - will this impact who stays?

RETIREMENT INCOME IS:  ERISA-based pensions???  Private retirement plans?  Means testing on retirement???  Property tax discussion???  Aging population issue. 
Be bold in differential in Capital Gains rate???  Revenue Neutrality.


CT Corporate Tax
This is the summary analyses

CT Corporate Tax2 and CT Corporate Tax3

Now we're getting to the issue of higher economic theory!  He (consultant) thinks corporate tax is obsolete.  Sullivan thinks "train has left the station" - "Unitary Tax" is an
example.  CONSENSUS TO PUNT - broaden base and decrease rate.  Away from industry and to services. 


GENERAL RETAIL SALES TAX  https://www.cga.ct.gov/fin/tfs/20140929_State%20Tax%20Panel/20151208/RST%2012-%203-15-%20rde.pdf

SALES
TAX and second part.  Sharing economy.  Also at final step.  UBER, AIRBNB would pay tax.  Why exempt things?

And they broke for lunch, having completes State Tax recommendations.  To resume at 1:30pm.



        
AM I SURPRISED?  A TRAP FOR THE UNWARY. 
(L) Unequal society - disheartening.  She may leave the panel or write a minority report.  Discussion.  $2 million estate exempt,  $5 million Federal...too much emphasis.


ESTATE AND GIFT TAXPROBATE

This is a divorce issue.  Also those with highest net worth may not be planning to move.  Following a rigorous analysis...better info.

PROPERTY TAX:  Reports discussed.

Exempt Property:  Important to cities.
https://www.cga.ct.gov/fin/tfs/20140929_State%20Tax%20Panel/20151208/Matrix%20of%20property%20tax%20recommendations%2012-03-15.pdf

PILOT SUBSTITUTES; A STUDY

WATCH OUT NATURE CONSERVANCY ON THIS ONE...MAYBE MORE LAND THAT IS 490 - SHOULD BE UNFRAGMENTED WETLANDS.
https://www.cga.ct.gov/fin/tfs/20140929_State%20Tax%20Panel/20151208/Property%20Tax%20Findings%20and%20Policy%20Options%20Text%2012-3%20meb.pdf


HOT POTATO NOT DISCUSSED
https://www.cga.ct.gov/fin/tfs/20140929_State%20Tax%20Panel/20151208/State%20Proprety%20Tax%20Role%20CT%20%20meb%2012-3-15.pdf

Beginning at @2:30pm.  Out of the box - annual assessment at 100% (instead of 70%).  Co-Chair. asks for consensus on administration.  Regionalizing assessments? 
Nutmeg Network with assessment...COG's role.  Options?


Redistribution.  Oops, should be discussed because of charge

Status quo  (PILOT) - uses Boston analogy.  This has to do with non-profit entities are in the cities.  Town of Coventry points out that PILOT has been zeroed out. 
BEWARE OF OTHER RESULTS.

LOCAL OR REGIONAL SALES TAX - https://www.cga.ct.gov/fin/tfs/20140929_State%20Tax%20Panel/20151208/RST%2012-%203-15-%20rde.pdf

Is this going to be mandatory?  Could be redistributive.  Could end up in a big fist fight...and now the program crashed!  In face, so did the other CGA links...is it me? 
(@3:50pm).  State should collect tax and redistribute it.

Support for Regional Taxation.  For example, Fairfield County should tax itself to repair Metro North...antique cars???  Tax exempt institutions - should not be done
willy-nilly.  Could destroy fabric of the community.  Also, final report should note every tax has not been examined.

Tuesday, Dec. 15 at 10am next meeting.

4:34pm
____________________________________________________________________________________________________________________________________



NOVEMBER 17, 2015 MEETING

 

CT in red above right.  We note that Weston is more generous than "Circuit Breakers" on a statewide level...
PROPERTY TAX - STRUCTURAL REFORMS - ABOUT TOWN ASKS THE OBVIOUS QUESTION - WHERE DO RENTERS FIT IN?
Our notes taken as we watched the whole meeting online:




CT TAX PANEL MEMBER REFLECTS ON WHAT SHOULD BE DONE - BUT WILL WE HAVE THE WILL TO DO IT?


Always good to get a fresh look at CT situation:
  • Nickerson:  How do you make up the money?  Small town guy says aren't we supposed to be revenue neutral overall???  Ans. - YES.
  • Redistribution at the local level:  Based on income. 
  • Mill rate limitation suggested by Sullivan.  Running roughshod over towns.
  • COUNTY GOVERNMENT suggested by Robert Testo.  Regional taxation coming up!!!
  • Why is New England so high on property tax?  Ans.  Historical.


Segregated state:  Might we want older people to sell and move?  Just a thought from this panelist.

 
Excellent consultant report!  This guy knows his stuff!
   


Former Representative Pat Widlitz reminds all that the underlying law for this CTTAXPANEL was written by her Committee - for intent info.

THIS REPORT:  Least diverse state for taxes.

Like diversifying a stock portfolio...

  • Local sales tax:  Regional Council doesn't have any role.
  • Sales tax option (forget about it...)
  • Redistribution of revenue???
  • Georgia comparison with CT is a joke, IMHO.  Not very good report...yet...
  • Additional tax on to of income tax.  Tax goes to town where you work (or any alternative).  Make work for State Government, IMHO.
What alternatives?

  • Counties that tax, Federal Reserve Bank of Boston study quoted a lot.  Add-on to State Income tax is economic.
  • Income tax progressive (as we know);
  • User charges on the increase.  Water metering.  Congestion pricing.  BUT this kind of taxing is regressive.
  • CT is a low-user of use tax method (only DC is lower).  Public hospitals would have taxes.  WHY NOT REGIONAL TAXATION?
  • Infrastructure taxation (Impact Fees) not legal here.
  • Sales tax increase - simplicity and redistributed by the State.  Privatization goes against this.


State Property Tax...County restoration - who needs local government advocate above... 

LUNCH UNTIL @12:45pm...then after, a discussion about what the final recommendations are intended to do.


       

INCOME TAX

Buoyant but variable.  Sullivan points out that part from stock market is so variable.   CT income tax perhaps getting too progressive.   Business tax to be added.

What percentage pay the income tax?  Bottom fifth if you include E.I.T.C.  D.R.S. data.  Panel wants to know.



All income should be included in tax base.  How do you collect taxes from income earned in CT.  When does a resident become a non-resident?

PERSONAL PROPERTY TAX

Executive summary
The personal property category in the Connecticut property tax system includes tangible personal property owned or leased by businesses. It does not include registered motor
vehicles which are assessed separately. It also excludes business inventories and intangible personal property.  The personal property category accounts for just over 5% of
total taxable property in the state and generates over $590 million in tax revenue each year.  Comparing the relative importance of personal property and business real property,
the value of taxable personal property in Connecticut is currently over 40% of the value of all commercial, industrial and public utility real property in the state.
..study in full:
https://www.cga.ct.gov/fin/tfs/20140929_State%20Tax%20Panel/20151117/Business%20Tangible%20Property%20Tax%20Walters.pdf


Cables, conduits are #1.   Figure 7 from report.  This speaker uses Lincoln Institute info;  personal property tax in CT is a tax on big business.



Motor Vehicle tax:

2.8 million vehicles in CT.  More effort to collect small amount.  Lots and lots of time to collect re:  prorated tax, etc.  Out of state registration.

Will the legislative changes made recently work forever?  Maybe.  Should we bother picking winners and losers?   Get it off the assessor's plate?

Local autonomy mentioned. Sullivan asks why they don't use 100% rather than 70%?  Break...

  

PROBATE FEES OR DYING IN CT


Fees on decedent's estate fees to support all fees.  54 courts.  Elected Judges.  Dedicated fund under State Treasurer.  No funds from the State anymore.  Central budget now (so CT took the next step and stole the $$ - IMHO).  Indigent funding comes from probate fees???  Cap in more than $2,000,000 estates no more.

 
   

FEES ARE ON GROSS - WHEN ESTATES PASS TO SPOUSE.

When is a fee a tax?  Out migration study from Yankee Institute (Sen. Franz - link to CTNEWSJUNKIE).  Decedents fees are subsidizing with social service and other activities.
Estate planning.  Asks for a better reasoning for estate tax/probate fees.

MULTIPLICITY OF FUNCTIONS ISSUE. 

      

APPOINTED JUDGES?  FEWER OFFICES?
Assuming that the fee would take up estate functions.  Subsidy can be used only for non estate responsibilities.  (In order to save costs.)

...Testo brings up county governance again.  (This was an excellent meeting, and we watched ALL of it online!!!)

4:20pm...Conveyance and transfer tax.

NEXT MEETING:
Tuesday December 8, 2015, 10am.





OCTOBER 27, 2015

      
The star - he ran the show, since it was his staff that supplied the consultants with the data they used. 


OCTOBER 27, 2015 CT TAX PANEL MEETING (TUESDAY):  See full schedule here.  Afternoon will have Property Tax overview;  AGENDA


Meetings, Public Hearing (top) and teleconference week and plan for action (schedule) prior to Legislative Session 2016.

Below, the items to be covered Oct. 27th...

https://www.cga.ct.gov/fin/tfs%5C20140929_State%20Tax%20Panel%5CCT%20%20Tax%20%20PanelCalendar%20Final%20rev%2010.13.15.pdf

Check out this mistaken perhaps or not bit of info re: Weston apartments;  "C.I.P." stands for Commercial. Industrial and Public Utilities.




CT TAX PANEL OCTOBER 27, 2015 AGENDA REPORTS ON TOPICS ONLINE...SOMEONE SAY DRAFT PROPERTY TAX REPORT

One of the tables (in part) from this draft report appendix here on:  PROPERTY TAX



CT TAX PANEL:  "TAX STRUCTURE" REPORTS AND Q&A - Income tax moved to Nov. 17???;  Dec. 8, 15, 31 (???) recommendations...
Awaiting arrival of a quorum...in person and virtual.  Co-Chairs present 10:09a.m.  POWER POINTS at the ready.  Discusssion prior to first report.

ESTATES: In 2001 it changed in CT.  "Pick-Up tax" became deduction instead - bad for states.  2012 settled - $5.43 million  Fed. exemption.

  • Report stated CT Estate tax no cap anymore*.  Probate fee.  Why priorities not including lots of other stuff?  Earned income tax credit...
  • Migration:  People move for different reasons.  "No country for old men and women" 
  • E.I.G.:  Estate, inheritance and gift.  Linked to Federal taxes.  Many years to settle estates.
  • Portability in 2012 for Feds.  Farms exempt???
  • CT has the lowest in the neighborhood or region.
  • SNOOKERED!!!  Special Session capped total liability for estates at $20 million
  • Net out-migration states.
  • Bopping around in CT.
  • CLIFF
  • Gift tax tougher in CT (unified gift tax).
  • ABILITY TO PAY - VERY DIFFICULT TO GET.  98% paid by top two percent.  Income inequality.  Income distribution - uses Census data.  Inequality growing. 
  • U.S. Census data no longer comparable
  • How do you track migration?
  • Florida, Carolinas (used to be California) - greater mobility in 1990's.

AFTERNOON - Inability to capture online services.

  • Sales tax revenue dropping.  Hotel-motel tax.  CT under the median tax.  Local option non-existent.
  • Downward trend base shrinking because of general sense that online commerce.  Sales tax related to income inequality.
  • Personal income. 
  • 75% collected in use tax on Internet sales.  Non-compliance. 
  • Sales tax collected from vendors.
  • "Bartering" economy - no tax forms.  Matching income not there for Internet purchases.
  • Online purchases** related to income. 0.9% paid in use tax in CT.  No state is collecting significant $$.  Cal., NY and CT the three collect the most. 
  • Physical presence to collect taxes - NEXUS - (Quill - 1992) Supreme CT - Congress to pass a new law on interstate commerce.
  • CONSUMPTION TAXExemptions.  Expensive to administer.  Broad tax on all forms of consumption - broad base, low rate.  Tax consumption as broadly as possible.  Vertical equity and Internet taxation are possibilities for change.
  • Current income not the same as lifetime income. 
  • TAX FOOD;
  • Exemptions for consumption no way to help the poor.
  • All growth in U.S. in E-Commerce.
  • Why exempt business to business sales?  Ans.:  Taxing production. 
  • Exemptions for not-for-profits? 
  • Tax government too if they are competing with private sector.  Road salt?  Purchase of computer?  But wouldn't that increase property tax. 
  • "Downloading tax" coming.
Property Tax Primer
  • CT broad base of property tax.
  • Neutral, passive.  Generally equitable. 
  • Real, personal, 70%
  • Property tax assessment: mil rate x gross assessed value.
  • Equalization:  Education grants- assessment-sales ratio.  Net Grand List.
  • Regressive.  More heavily on poor people by a lot.
  • Town aid road not supposed to be equalizaton.
Policy Options
  • Full exemptions.  CT the only one questioning whether reimbursements (not PILOT?) is being questioned...
  • We are taking a rest...3:54pm - first mention of redistributing wealth...we'll listen to replay beginning with...well, about 45 minutes from end;
  • Criteria:  WOW!!!  Guess what!!!  They brought up 490 land (farm & forest tax rate)!!!  At the very, very end, the representative from Council of Small Towns asked!!! 
This issue is referenced supposedly (but we can't find where) in the consultant table of study of 19 towns - link to report:
https://www.cga.ct.gov/fin/tfs%5C20140929_State%20Tax%20Panel%5C20151027/Properties%20Exempt%20from%20Paying%20Property%20Taxes%20in%20Connecticut.pdf



---------------

* - Not so - Sullivan points out toward the end of testimony that the Special Session (600 plus pages) Implementer included a cap at $20 million of estate tax, IIRC.

** - Consumption tax:  hard to figure it out and administer.




  

CT TAX PANEL OCTOBER 13, 2015 AGENDA


"RULES NOT THE SAME" (Our title) 10am to 3pm:  https://www.cga.ct.gov/fin/tfs/20140929_State%20Tax%20Panel/20151013/Agenda.pdf

We tuned in 45 minutes into this meeting...it was supposed to begin at 10am.  NOTE:  Reports are supposed to be online at Finance Committee, so it says online at this
meeting.


          
C.B.I.A. presentation.  UTC claims that revenue is goal.  YES, it is, OPM says.  G.E. leaving?  How competitive? 

Pass through entities - outside experts for smaller firms.  LLCs.  ZZZZZZZZ. Pass through entity.  1040, CT1040, accounting issues.  BTW, CT ranks in bottom half of business
friendly states.  7% flat tax for LLC.  Nuisance tax $250.  More than we ever wanted to know.  R&D tax credit policy?  Disparity?  Treat everyone equally ("C: corp vs pass thru,
llc...).  QUICK FIX:  Multi-state specialist.  Says "C" corps and pass-thru and LLC - difference between Massacchusetts and CT.  ZZZZZZZZZZZZZZZZZZZZZZ.

It is now 11:20am and we are still on the first item on the agenda...

Parity not in tax regs NY, NJ, CT.
Market based - same as 2012 CT panel...services not implemented.  Destination not resident taxation?  Service or market state?  R&D credits - how will that affect "C"
corporations?  ZZZZZZZZZZZZZZZZZZZZZ





BINGO!!!  The tax code in CT is developed as a job program for...tax lawyers!!!  (At 11:59am.)  Kevin Sullivan agrees with About Weston!!!

Pass thru entities could become "C" Ben Barnes asks...if we treat them all the same, charge them all the same???  Credits.  Locational decisions issue:  CT can't anticipate
what business will do in 30 seconds.  Shooting in the dark.  C v S v LLC:  Isn't one answer to follow Feds?  BREAK...




A report online:  https://www.cga.ct.gov/fin/tfs/20140929_State%20Tax%20Panel/20151013/CT%20Fiscal%20Architecture%20ppt%20Wallace.pdf

Debt and pension overhang...trends:  Growth rate and age v expenditure.  Older state.  2015 0-19 24%.  2020 22%.  65 and older 16 to 22%.  20-24 constant.  Not an outlier. 
Flatness in labor force and over 65 more in CT.  Income:  Highest per capita.  Distribution:  Homogeneous population.  Growth in service.  Loss of dominance in finance and
insurance.  Before 2008 - knowledge based may pick up slack.  Globalization.  What would happen if...how do you tax retirement income?  AHA.  Migration pattern.  High net
worth.  Income and migration request.  Tax handles, intellectual property tax.  BINGO - PROPERTY TAX doesn't move.

Every state is doing it - investing in high paying industry.  Retirement income:  Not taxable as readily. Tax services to elderly?  Exemptions.  Retirement exempt goes out
of state.  BINGO!!!


AGE COMPOSITION

Income tax increase.  Property tax implication:  Fewer children.  Shrinking of residential units.  Sales tax - will go up.  Most trends are going down.  Uncertainty about defense
spending.  Ability of state to use knowledge base is positive.  Personal income from income disparity:  Up for high, expanding low income;  what happens to distribution of all
tax burdens.  "One percent" issues.  One tenth of one percent pay 45% of income tax.  Regional trends?  Greater in CT.

     

CORPORATE TAX - SMOKE AND MIRRORS:  https://www.cga.ct.gov/fin/tfs/20140929_State%20Tax%20Panel/20151013/Connecticut%20business%20taxes.pdf

Cumulative unfunded liabilities:  How will GASB figure this out...how do we get out of decline?  Broadest base to get lowest rate.  Progressive corporate tax.  Invest in all
business tax.  Multi-jurisdictional complications.  Declines in mid-1990's.  VAT, narrowing basis - broad base low rates. 

Revenue neutral value added;  GRT proposal:  https://www.cga.ct.gov/fin/tfs/20140929_State%20Tax%20Panel/20151013/Corporate%20Oct%2012%20Presentation.pdf

So much tinkering has been done, corporate revenues are going to continue to decline.  Retail and wholesalers would be the losers.


VALUE ADDED AND GROSS RECEIPTS
What would the guess be?  Tinkering will kill it.  How many tax lawyers does it take to put you to sleep?  Value added high rates not the same as European  model.
Michigan has it.



Q&A:  Red flag on corporate tax (Franz). 

Gross receipts - look before we leap (Sullivan).  We need more analysis.  Reforming corporate taxes - unitary reporting.  Nice menu.

Meeting over 2:50pm.

NEXT MEETING:  October 27, 2015 from 10am to 4pm, L.O.B.





CT TAX PANEL SEPT 30, 2015 10am to 1pm - we only caught the last bit...it is claimed that reports are online (but we haven't found them)


Ebel introduces...Fiscal comparisons and what does it do for our competitiveness;  next week, 15 yrs out.  Also reform of taxes.


  
Presentation (left) now on the web.  Information all comes from the census bureau.  Competitiveness presentation next, right.  Power points, both. 

#1 HOW DOES CT SIZE UP?  BOUDREAUX (Georgia State) PRESENTATION SEEMS TO BE ANTI-BUSIENESS

EXPENDITURES LOW
Big overview.  Census data.  Revenue/Expenditures, tax indices.  State and local combined.  Unfunded liabilities not in census.  Direct expendures. Distribution of wealth
median of average.  Ct below the national average of expenditures.  Most of neighboring states int he same boat.

LOCAL EDUCATION GROWING more than half again as other states.

2002-2012 growth of per capita expenditures. 36% education, 19% welfare.

REVENUE DISTRIBUTION

$$ - 22 other, 17 CT aid from feds.  CT third in depending on property taxes.

HOSPITALS (?)

Income and property tax:  49 - business ranking by state;  51% in share of business taxes.

TAX FOUNDATION STUDY;  PROGRESSIVE GROUP (progressivity):  Comparison.

Property Tax is the biggie.

-------------------------




#2 PROF. WASYELENKO (Syracuse)


Census data.  Comparing to Massachusetts. 

High education work force high earnings makes for more service jobs.

MSAs have 85% of population (Hartford, New Haven and Stamford-Norwalk-Bridgeport).  Zero growth.  Vulnerabilities.  Tsunami coming.  Boston Fed pointed that out. 
This is very depressing...

GROWTH RATES:  Some innovation hard to predict maybe be coming.  Jane Jacobs quoted.  Density not here.

Housing prices.  Also zoning issue and "169 towns"
Large lot zoning a negative.  Governmental structure question.  An unbalanced structure.  Income tax has room (?).  Higher property taxes constrain growth - negative but them
education spending is a plus...cut taxes but how do you raise revenue?  Reduce property tax and increase income tax - nada.  Reduce property tax and reduce education -
negative.  To drive growth on fiscal side, need BIG changes.  Broad tax?  Not a lot of new stuff out there - stick with your base.  Lower cost of housing important. 
Lower expectations because we are a small state...breaking for dinner - will finish watching at a later date...

Meanwhile, below is where I first started watching live - just at the end!

HOME RULE :  29 of 50 states have "Home Rule."  CT Population density map of CT

Kevin Sullivan was noting that seeing CT as one place without town boundaries for tax purposes (as soon as I can watch this on CT-N as a re-run I will get the comment from
Commissioner Sullivan in a more accurate form) might be one idea - city v. suburb and exurb competition would kill any suggested proposal...



_______________________________________________________________________________________





STATE TAX PANEL MEETING SEPT. 16, 2015


State Tax Panel Tax Structure: Meets at 10am for O.P.M. presentations:  Question - all public education including "management" S.I.C. ("Standard Industrial Classification")
codes.  Nation-wide setting a new normal? 

Five minute break:  OBSERVATION - mix of data sources used, comparison to U.S. trends "new normal" issue is confusing members.  As well it should - I am waiting to hear
someone raise the issue of jobs generated by industrties by type.  Don't hold your breath for this, however...

Four sources of revenue make 80%.  O.P.M. guy reading his report and Power Point.  Co-Chair asks that no one interrupt presentation. 

REGRESSION ANALYSIS

Buoyancy analysis compares person income tax, sales tax moves a lot and use inelastic.  Mitigate revenue volatility.  OPM says we are close to estimates.  Business cycle
downturn covered by budget reserve.  Revenue neutral.

INTERNET TAX?  TAX INCIDENCE

TAX is progressive if rich pay more % of income;  Neutral if that is...neutral;  regressive if rich pay less.  Questions about why old numbers.  Answer:  We did the work last year.
Property tax credit equal to corporate credits?  Sort of, yeah.

NON-SCHOOL LOCAL FISCAL DISPARITIES (P.R.I.)

Differ in ability to raise revenue. Local choice on public services and size of tax base, roads.  M.O.R.E. Commission heard from him.  CONCLUSION:  Rich towns should not get
State Aid....finished at 1pm.

_______________________________________________________________________________________________

THANK YOU CT-N!


             
Oil of "Burning of Los Angeles" by M.S. Wirtenberg (1962)

MONDAY NOT RECORDED: On personal income tax;  FRIDAY differing impressions on what panel is up to re:  property taxes and income redistribution. 


TUESDAY AWESOME!!!  Too bad transparency only goes as far as sales, business and gift taxes and those discussions!!!
U of Tennessee consultants.  Rep. Widlitz.  Five conference calls.  Former Rep. Pat Widletz notes times are changing:  Review tax structure, rather than just "tweak" this time
(i.e. big ideas given more attention than usual?).

We note that there are no current members of the Legislature on this Commission...we still have not listened to the full meeting.

...We are listening live to the end of the Tuesday, July 28th teleconference:  NOTES:  September 16, 2015, Oct. 27 meeting - documents a week or more before the Panel
Meetings - December meeting will be all taxes together.  Summary and options included.  Sales tax tomorrow...

---------------------

WEDNESDAY QUESTIONS & ANSWERS FROM START TO FINISH:
How does the state collect online purchases?  Telephone "nexus" filing.  Report purchases.  Streamline multi-state operation to impose remote tax.  "Use tax" requirement. 

What is "physical presence?"  Out of state selling services to CT companies -
major appliance, Stamford example.  Neighboring state can cooperate. 

Treatment of not-for-profit institutions question - imposing sales tax might be excessive.  (A.A.R.P. example.)  Charging sales tax on government services...could expand to other
things;  Towns pay gross receipts tax on oil, fuel.

"Sharing economy" - Uber, Airbnb - how to tax them...could they be taxi service for small business.  FEDex v. Uber for delivery system.  Business services in CT by comparison.
Computer, electronic issue and why small firms and large firms are different.  How is use tax enforced? Who gets taxed?  Ans.  Value added tax - exemptions lead to
this. Memorandum now a public item?
Nickerson notes that Legislature doesn't always think about these things.

Finished @10:43am July 29, 2015

--------------------


THURSDAY GIFT TAX AND RE-LOCATON, START TO FINISH
Because of tax implications of gift tax, CT the only one that assesses a gift tax (?) and now new probate fee - Florida popular because it is near New Hampshire. 

Number of days is the big one for CT - but some do leave entirely.   The weather is another interest.  Interplay with income tax?  Decisions who are under limit may stay. 
Deadline for filing (CT 6mos) doesn't match federal deadline (9mos)...$2 million threshold can be exceeded unintentionally.  "Domicile" determination. 

A larger theme - gift tax were on a downward trend in the 1990's, now the reverse.  Migration study by OPM (copies to be sent) - increase in estate tax more important. 
Out-migration.  Basket of revenue losses with out-migration.  PERCEPTION:  That CT has higher tax, on mid-sized estates ($4 million) leaving.  Taxable gift recorded $2 as
opposed to $5 for feds.  CONFORMITY and interplay.  Deferred income issue.

CT is an outlier.  Portability of Federal Law?  Hawaii and MD for 2019 have "portability."  Federal understood.  What % of revenue comes from Estate and Gift taxes?  OPM
$200-$300 million 1-2%. Very erratic no matter what the economy.  Transfer of small businesses in other taxes in other places?  (Can lead to younger generation leaving.)

Interest rate on underpayment again - is it supposed to be a deterrent (1% per month)?  Over-all picture will help make a decision on aligning with the Feds.  OPM study. 
Commissioner Sullivan's study says you can't come up with a number.  [OUR THOUGHT] One way might be to figure out the second home percentage???  Older people don't
move - less than 1% leave.  Gifts within a close period to death...other places.  "Q-tip" spread between CT and federal rules...CT hits the spouse. $5,430,000 Fed.

Finished at 10:43am...July 30, 2015. 

----------------------


FRIDAY - PROPERTY TAX AND MUNICIPAL IMPACTS
July 31, 2015

Property tax primer
Administration of PILOT
Business personal property tax
Conveyance and Transfer
Direct property tax action - relief
Indirect property tax reduction
20 entities to be researched; Coventry

-----------

OPPPORTUNITIES
Rental, lease of R.O.W. (telephone poles)
Franchise fees
Conveyance tax 2/3 state, but locals do the work, etc.
Development Impact fees:  Downstream effects.
Car tax cap - PA490 "farm-forest" concern.  State forest land valuation.
Homestead exemption.
PILOT or lack of it.
MME loss (?):  Machinery reimbursement.  Personal Property Tax - State takes away taxing power.
Rental property affected - as taxes go up no money for upkeep.
Pfiser town.
Mill rate - picking winners and losers.  More equity?  Should encourage investment where there is infrastructure.  New Haven resident says urban taxes are absurd - authorized
to go to trial.  Educational inequities.  State constitutional;  land use question - 85% of state aid is education - Horton v Meskill - more funds to low tax - ECS has not been
funded (capped).  Charters around spending cap.  39.6% of local education now.  Tinkering.  Fed Reserve:  fund by need/capacity - MBR in lengthy footnote only.  Meg-question: 
Provide with other sources or state aid.  REVENUE NEUTRAL not possible.  Replacing the property tax.  Shift balance - burden from property tax to income tax. 
NOT LOOKING AT STATE AID.  Trade offs.  Public Policy question.  Higher income taxes v. lower property tax.  Local autonomy restricted.  Tax burden by state or local tax.
Economic development.  40% local, 60% state = tax burden.

Inter-governmental transfers v. disparity measures - Boston Fed;  Commission not in the position that the state should spend more or less.  Charlie Brown "kicking the football." 
State Property Tax?  No counties.  What about a 1 mill state property tax to fund transportation.  Other things going on around the tax recommendation panel.


More than an hour - many thanks given to CT-N and Mary Finegan.

-----------------


CT TAX PANEL webpage:  TAX PANEL:  http://www.cga.ct.gov/fin/taskforce.asp?TF=20140929_State%20Tax%20Panel

CT TAX PANEL members:  http://www.cga.ct.gov/fin/tfs/20140929_State%20Tax%20Panel/membership.pdf

CT State Tax Panel:  Memo on Guidelines and Criteria

Sec. 137. (Effective from passage) (a) The chairpersons of the joint standing committee of the General Assembly having cognizance of matters relating to finance,
revenue and bonding shall convene a panel of experts in tax law, tax accounting, tax policy, economics and state, local and business finance, who shall not be
members of the General Assembly, to review the state's overall state and local tax structure.

The panel shall consider and evaluate options to modernize tax policy, structure and administration with respect to (1) efficiency, (2) cost of administration,
(3) equity, (4) reliability, (5) stability and volatility, (6) sufficiency, (7) simplicity, (8) incidence, (9) economic development and competitiveness, (10) employment,
(11) affordability, and (12) overall public policy. All such options shall include consideration and evaluation of the impact and extent of such tax policy upon
business and consumer decision-making. In addition, such panel shall also evaluate the feasibility of (A) creating a tiered property tax payment system that
includes any property that is (i) state-owned, (ii) owned by an institution, facility or hospital and for which a payment in lieu of taxes has been made pursuant
to section 12-20a of the general statutes, as amended by this act, or (iii) owned by a nonprofit entity, (B) assessing a community benefit fee upon any property
that is not liable for the payment of property taxes, (C) taxing property owned by an institution, facility or hospital and for which a payment of taxes has been
made pursuant to section 12-20a of the general statutes, and (D) requiring any such institution, facility or hospital to report the value of its real and personal property.

(b) (1) The members of the panel shall be appointed jointly by the Governor and the chairpersons and ranking members of the joint standing committee of the
General Assembly having cognizance of matters relating to finance, revenue and bonding. The panel shall be comprised of up to fifteen members, and all such
appointments shall be made not later than sixty days after the effective date of this section.

(2) The following persons or their designees shall be ex-officio, nonvoting members of the panel: (A) The chairpersons and ranking members of the joint standing
committee of the General Assembly having cognizance of matters relating to finance, revenue and bonding, (B) the president pro tempore of the Senate,
(C) the speaker of the House of Representatives, (D) the Secretary of the Office of Policy and Management, and (E) the Commissioner of Revenue Services.
(3) The chairpersons of the joint standing committee of the General Assembly having cognizance of matters relating to finance, revenue and bonding shall
convene the first meeting of the panel not later than August 1, 2014. The voting members of the panel shall elect chairpersons at such meeting.

(c) The panel shall organize itself into four subcommittees as follows: (1) Personal income taxes, including estate and gift taxes; (2) business taxes, including
excise taxes; (3) consumer taxes; and (4) property taxes. Additional experts may, with the approval of the chairpersons of the panel, be invited to participate,
without vote, on such subcommittees. (d) Not later than January 1, 2015, the panel shall report, in accordance with the provisions of section 11-4a of the general
statutes, to the Governor and the joint standing committee of the General Assembly having cognizance of matters relating to finance, revenue and bonding, on
the results of its considerations and evaluations, and submit any findings and recommendations for further action. Such recommendations may include an
extension of time for the work of the panel, except in no event shall the panel continue beyond January 1, 2016.



HOW ARE IMAGES OF ECONOMIC DISASTER LIKE THE R.M.S. TITANIC?
The coming self-destruction possibilities...pick an analogy.  The French Revolution?

_______________________________________________________________________________________



HISTORY:  Board of Finance agrees at May 13, 2004 meeting to go out for $21 million bonding early
(to lock in rates)...auditorium bonding to be in a separate issue, later;  O.P.E.B. link found here.


                    ____________________________________________________________________