Mattabassett District Board

THE MATTABASSETT DISTRICT Memorandum Date: November 13, 2023 Subject: Finance Committee Meeting Minutes Thursday, November 9 , 2023 To: Board of Directors From: Finance Committee, and Arthur G. Simonian, Executive Director Finance Committee November 9, 2023 Meeting Minutes The Finance Committee met on Thursday, November 9, 2023, at The District Offices at 245 Main Street, Cromwell, Connecticut. Finance Committee Chair, Doug Sienna, called the Committee meeting to order at 5:30 PM. In addition to the Chair, Committee Member s, Joe Corlis and Carl Erlacher were present. Committee Mem ber Rick Healey was present remotely. Committee Member James Fallon arrived at 5:31 PM. There was a quorum. Also, present were Executive Director – Arthur Simonian, Board Chairman – John Dunham and Board Member David Bauer . Following is a summary of the November 9 t h Finance Meeting: 1) Audit FY2023 Executive Director, Art Simonian reviewed the Audit with the C ommittee. Auditor, Darin will present the Audit to the Committee in Dec ember. The Auditor will also change the s ewer condition to 95%. 2) Budget 2025 Executive Director, Art Simonian reviewed the Budget with the Committee. Art will be making revisions to the budget , then presenting it to the Committee in December, with a Board approval in January or February, 2024. 3) Other Finances and Investments Executive Director, Art Simo nian discussed the cash flow, invest ment schedule and Clean Water Fund direct payments with the Committee. After discussing, the Committee consensus is to keep balances in the checking account minimal , based on ch ecks written twice a month plus payroll. 4) Related Business & Staff Updates - None. Adjournment: Moved: Doug Sienna, no second required, approved unanimously to adjourn at 6:32 PM C: Board Members not on the Finance Committee