Mattabassett District Board

THE MATTABASSETT DISTRICT Memorandum Date: April 4, 2018 Subject: Finance Committee Meeting Minutes Tuesday, April 3, 2018 Finance Committee and To: Board of Directors From: Arthur G. Simonian, Executive Director Finance Committee April 3, 2018 Meeting Minutes The Finance Committee met Tuesday, April 3, 2018 at The District Offices at 245 Main Street, Cromwell, Connecticut. Finance Committee Chair, Doug Sienna, called the Finance Committee meeting to order at 5:46 PM. In addition to the Chair, present were Committee Members –Tim Stewart, Dale Aldieri and James Fallon. Committee member Tom Tokarz was absent. There was a quorum. Also present was Executive Director – Arthur Simonian. 1) Annual Credit Distribution The Executive Director’s 2017 -2018 Budget Revisions will be reviewed and recommended for approval to the Board of Directors at the April 2018 Board Meeting. Additional funding for Capital Projects are part of the Budget revisions. A transfer from the reserves account is included. There is approximatel y 6 million dollars in our reserve account, excluding the New Britain, Cromwell, Berlin reserve account. Mr. Stewart moved, Mr. Aldieri seconded, and the committee approved unanimously: MOTION: The Finance Committee accepts the Executive Directors 2017 - 2018 Budget Revisions. 2) Review the Unaudited Budget Statement – Discussion 3) Related Business and Staff Updates Discussed the transition plan for when the new Operations Manager is hired over the next two months. Adjournment: Mr. Fallon moved, Mr. Aldieri seconded, and the committee approved unanimously to adjourn at 6: 25 PM.