BOARD OF FINANCE

NOTICE OF PUBLIC HEARING

The Board of Finance will hold its Public Hearing on Wednesday, April 6, 2011 at 7:00 P.M. in the Auditorium of Town Hall. The following items, and any others properly presented before the Board, will be considered:

AGENDA

Download Packet for Board of Finance Meeting [PDF]

TRANSFERS IN THE 2010-2011 BUDGET

1. The Board will consider the following requests for transfer amounts of $3,000 or less that have been approved by the First Selectman:

A. A request by the Personnel Director for a transfer of $1,000 from the Personnel Account #10101153-513000 (Extra Help & Overtime) to the Personnel Account #10101153-561000 (Supplies) in order to cover shortfalls due to unanticipated expenditures in this budgeted account.

B. A request by the Planning & Zoning Director for a transfer of $2,500 from the Planning & Zoning Account #10101185-513002 (Overtime) to the Planning & Zoning Account #10101185-585000 (Education & Expenses) in order to cover shortfalls due to unanticipated expenditures in this budgeted account.

C. A request by the Planning & Zoning Director for transfers of $750 from the Planning & Zoning Account #10101185-552000 (Postage) and $750 from the Planning & Zoning Account #10101185-561000 (Supplies) totaling $1,500 to the Planning & Zoning Account #10101185-528900 (Transportation Allowance) in order to cover shortfalls due to unanticipated expenditures in these budgeted accounts.


APPROPRIATIONS IN THE 2010-2011 BUDGET

2. A request by the First Selectman for an appropriation of $10,000 to the Selectmen Account #10101120-531000 (Fees & Services) to conduct an appraisal requested by the BOF for the Baron’s South property.

3. A request by the Parks & Recreation Director for an appropriation of $26,690 to the Golf Account #10108832-577000 (Capital Equipment) to fund the purchase of a Greens Mower to be substantially reimbursed through the Department of Environmental Protection LEEF Program.

4. A request by the Finance Director for an additional appropriation of $1,200,000 to the Pension Budget Account #10109901-523700 (OPEB Plan Funding) for the remaining fifty percent (50%) cost of the Town of Westport’s planned contribution to the OPEB Trust Fund for the 2010-11 fiscal year.


BUDGET RESTORATION REQUESTS AND FINAL RECOMMENDATION:

5. The Board will consider any requests for restoration of sums removed from the Budget by the Board at its March 22, 2011, March 23, 2011 and March 24, 2011 Budget Hearings.

The Board will approve the “BOF Recommended Budget for Fiscal Year 2011-2012” as follows:
A. General Fund;
B. Railroad Parking Fund; and
C. Sewer Fund


DISCUSSSION

6. The Board of Finance will discuss policies and procedures relating to the lease of Town-owned properties.


APPROVAL OF MINUTES

7. Approve the Board of Finance Minutes of the March 2, 2011 Regular Meeting.

8. Approve the Board of Finance Minutes of the March 22, 2011 Formal Budget Hearing.

9. Approve the Board of Finance Minutes of the March 23, 2011 Formal Budget Hearing.

10. Approve the Board of Finance Minutes of the March 24, 2011 Formal Budget Hearing.