WESTPORT CONNECTICUT
BOARD OF FINANCE

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NOTICE OF EXECUTIVE SESSION

The Board of Finance anticipates voting to go into Executive Session on Wednesday, December 7, 2011 at 7:00 P.M. in Room 309 of Town Hall to review proposed salary adjustments for non-union personnel. No action will be taken.

NOTICE OF PUBLIC HEARING

The Board of Finance will hold its Public Hearing on Wednesday, December 7, 2011 at 8:00 p.m. in the Auditorium of Town Hall. The following item(s), and any others properly presented before the Board, will be considered:

AGENDA

MEMBERS STATUS

1. Presentation to departing board members.

2. Election of new officers.


DISCUSSION

3. Financial Report from the Finance Director.

4. Status Update from the Internal Auditor.

5. Discussion of the latest RFP draft for a Senior Residential Community on the Baron’s South property.

6. Update on the search for a new actuarial firm and Finance Director.


TRANSFERS IN THE 2011-2012 BUDGET

7. A request by the First Selectman for a transfer of $131,704 to the appropriate department salary accounts from Account #10109917-519000 (Reserve for Salary Adjustments).

Note: This is an estimated figure that will be finalized prior to the meeting.


APPROPRIATIONS IN THE 2011-2012 BUDGET

8. A request by the Library Director for an appropriation of $76,000 to the Library Board Account 10107750-586000 to cover the salaries increase negotiated with library bargaining units effective July 1, 2011.


RECOMMENDATIONS TO THE RTM

9. A request by the Finance Director, as reviewed by the auditors, to approve a “Fund Balance Policy” and “Fund Balance Policy Statement” with recommendation to the RTM to approve such policy and statement.

10. A request by the First Selectman for a BOF recommendation to the RTM to establish the “Wakeman Town Farm Special Revenue Fund” to which all monies held in escrow will be transferred.


APPROVAL OF MINUTES

11. Approve the Board of Finance Minutes of the October 5, 2011 regular meeting.


CALENDAR REVIEW

12. Review the proposed BOF calendar for 2012.