Mattabassett District Board

THE MATTABASSETT DISTRICT Memorandum Date: July 24, 2023 Subject: Finance Committee Meeting Minutes Monday, July 24, 2023 To: Board of Directors From: Finance Committee, and Arthur G. Simonian, Executive Director Finance Committee July 24, 2023 Meeting Minutes The Finance Committee met on Monday, July 24, 2023, at The District Offices at 245 Main Street, Cromwell, Connecticut. Finance Committee Chair, Doug Sienna, called the Committee meeting to order at 6:20 PM. In addition to the Chair, Committee Member s, Joe Corlis and Jim Fallon were present. There was a quorum. Also, present was Executive Director – Arthur Simonian and Board Chairman – John Dunham. Committee Members Dale Aldieri and Rick Healey did not attend the meeting. Following is a summary of the Jul y 24th Finance Meeting: 1) Capital Budget Analysis FY 22 -23 Executive Director, Art Simonian reviewed an anal ysis of the capital budget where seven (7) accounts from FY 2023 totaling $1,171,169 have been identified as carryovers into CNR. There are unused funds from the Nitrogen Treatment ($50,000) and Cone Valves -Raw Sewage Pump ($75,000) projects available and it’s expected that $ 52,165 of this will be used to cover two (2) items that came in over budget. There was also mention of six (6) capital accounts that came in below budget totaling $40,837. 2) Operating Budget Analysis FY 22 -23 Executive Director, Art Simonian reviewed an anal ysis of the Operating Budget that showed a total of expected expenses for FY 2023 to be in the amount of $14.8M. There is a total of $1,117,569 in available funds for twent y-five (25) accounts that came in under budget and will be used to cover the thirteen (13) accounts that were identified as being over budget in the amount of $520,612. 3) Capital Non -Recurring (CNR) Budget Transfer MOTION: The Finance Committee authorizes the Executive Director to transfer $1,171,169 of the remaining FY23 Capital Funds into Capital Non -Recurring Accounts (CNR) as per the attached spreadsheet (Item #3B). Moved: Doug Sienna; Seconded: Joe Corlis; Approved unanimousl y  THE MATTABASSETT DISTRICT Memorandum Finance Committee Meeting Minutes July 24, 2023 Page 2 of 3 4) Budget Transfer FY 22 -23 MOTION: The Finance Committee approves adjusting the following 2022 -2023 Operating Budget Line Items in the amount of a $1,117,569 decrease and $520,612 increase as outlined below and authorizes the Executive Director to advertise the amended budget. a) Decrease the Administrative Expenses Line Item #50000 by $37,829 to $154,921 to cover the various Line Items listed below. b) Decrease the Salaries & Wages Line Item #56000 by $330,660 to $3,109,179 to cover the various Line Items listed below. c) Decrease the R etirement Benefits Line Item #58000 by $104,336 to $704,807 to cover the various Line Items listed below. d) Decrease the Operations Line Item #61000 by $161,997 to $193,373 to cover the various Line Items listed below. e) Decrease the Electricit y Line Item #61300 by $126,890 to $1,704,110 to cover the various Line Items listed below. f) Decrease the Plant Maintenance Services Line Item #62300 by $133,735 to $216,265 to cover the various Line Items listed below. g) Decrease the Building and Grounds Line Item #62400 by $102,121 to $237,379 to cover the various Line Items listed below. h) Decrease the Contingencies Line Item #69000 by $120,000 to $0.00 to cover the various Line Items listed below. i) Increase the Insurance Line Item #51000 by $28,459 to $172,559 . j) Increase the Engineering Line Item #52100 by $11,120 to $177,120 . k) Increase the Business Services Line Item #53000 by $24,360 to $190,360. l) Increase the Permit Fees Line Item #54000 by $1,091 to $28,591. m) Increase the Miscellaneous Expense Line Item #54500 by $5,194 to $20,194. n) Increase the Chemicals Line Item #61200 by $297,929 to $757,429.  THE MATTABASSETT DISTRICT Memorandum Finance Committee Meeting Minutes July 24, 2023 Page 3 of 3 o) Increase the Fuel/Natural Gas Line Item #61400 by $61,531 to $236,531. p) Increase the Potable Water Line Item #61500 by $1,209 to $63,209. q) Increase the Gasoline and Diesel Line Item #61600 by $1,835 to $9,535 r) Increase the Outfall -Cleaning & Jetting Line Item #61810 by $35,854 to $70,854. s) Increase the Plant Maintenance Supplies Line Item #62100 by $33,331 to $352,831. t) Increase the Lubricants Line Item #62200 by $18,698 to $53,698. Moved: Doug Sienna; Seconded: Joe Corlis; Approved unanimousl y 5) Audit Extension MOTION: The Finance Committee authorizes the Executive Director to extend the Audit contract from Offerdahl, Emerson and Co., out of Killingworth, CT for FY2023, FY2024, and FY2025 at a fee not to exceed $20,500, $21,000, and $21,000 respectivel y. Moved: Doug Sienna; Seconded: Jim Fallon; Approved unanimousl y 6) Related Business & Staff Updates Adjournment: Moved: Doug Sienna; Seconded: ; Approved unanimousl y to adjourn at 6:46 pm C: Board Members not on the Finance Committee