Mattabassett District Board

THE MATTABASSETT DISTRICT Memorandum Date: February 1, 2023 Subject: Finance Committee Meeting Minutes Tuesday, January 31, 2023 To: Board of Directors From: Finance Committee, and Arthur G. Simonian, Executive Director Finance Committee January 31, 2023 Meeting Minutes The Finance Committee met on Tuesday, January 31, 2023, at The District Offices at 245 Main Street, Cromwell, Connecticut. Finance Committee Chair, Doug Sienna, called the Committee meeting to order at 5:31 PM. In addition to the Chair, Committee Member s, Joe Corlis, Jim Fallon and Dale Aldieri were present. There was a quorum. Also, present was Executive Director – Arthur Simonian and Board Chairman – John Dunham. Committee Member Rick Healey arrived at 5:33 PM. Following is a summary of the January 31 s t Finance Meeting: 1) Draft 2023-20224 Budget – The Executive Director presented, discussed and recommended adopting the proposed FY2024 Budget with adjustments to increase use of Reserves to $ 1,000,000 and excess FY2023 operating expenses to $500,000. Mr. Aldieri moved, Mr. Sienna seconded, and the committee approved unanimously: MOTION: The Finance Committee recommends adopting the Executive Directors proposed 2023 -2024 Budget in the amount of $19,640,572. 2) Related Business & Staff Updates – None. Adjournment: Mr. Aldieri moved , no second required and the committee approved unanimously to adjourn at 6:30 PM.