Finance Committee

REPORT OF THE FINANCE COMMITTEE SEPTEMBER 16, 2010 A meeting of the Finance Committee was held on Thursday, September 16, 2010 at 6:45 p.m. in the Aldermanic Chamber. Mayor Donnalee Lozeau presided. Members of the Committee present: Alderman-at-Large David W. Deane, Vice Chair Alderman-at-Large Ben Clemons Alderman-at-Large Barbara Pressly Alderman Kathy Vitale Alderman Arthur T. Craffey, Jr. Members not in Attendance: Alderman Paul M. Chasse, Jr. Also in Attendance: COMMUNICATIONS – None DISCUSSION Alderman Deane Last evening Alderman Flynn had mentioned the CTE fund at the school district, which is a special revenue fund. I guess there was talk by the Board of Education Finance & Operations Committee about taking a couple hundred thousand; they weren’t quite sure how much money they had left over, but taking a couple hundred thousand dollars and transferring it into that CTE account. Mayor Lozeau What does CTE stand for Alderman Deane? Alderman Deane I believe that is money for their adult education I believe. It is a special revenue account. I will have to think about it. Regardless, it is a special revenue account. It was in the pink pages of the budget book. It would seem to me that would require legislation to do. Unless somehow they have encumbrances…I don’t understand how they are doing this because normally with the encumbrances that they have in place at budget year-end those will be covered, but then the balance of any funds after that fall into fund balance. Mayor Lozeau That is my understanding. I am not aware that they are trying to do anything like that. Alderman Deane I believe the meeting took place on the 16th of August. Could you have someone look into that? If that is the plan then I believe in order to transfer a 581 appropriation into a special revenue account that would require some legislative action, they just couldn’t make that transfer themselves I don’t believe. I could be wrong, but I don’t believe that is the case. Finance – 09/16/10 Page 2 Mayor Lozeau I would be happy to take a look at it. Alderman Deane Thank you. Mayor Lozeau You said it was the August 16th meeting? Alderman Deane I believe that is what it was. I can ask Alderman Flynn. That was the money that they took, there was a couple hundred thousand dollars in there. Alderman Vitale He said like $287,000 or $257,000 something like that. Alderman Deane I don’t remember the exact figure. Mayor Lozeau This year is the first time I put it in the budget. Alderman Deane When they had their deficit issue they used some of that money. This is after the fact. I just have an interest in understanding what is going on with that. Mayor Lozeau As would I. I will most certainly take a look at it. Alderman Vitale I think he said $257,000 is what my notes look like. Mayor Lozeau Okay. Alderman Deane What was that? Alderman Vitale Two hundred fifty seven thousand is what my notes say. Finance – 09/16/10 Page 3 Alderman Pressly Thank you. You were kind enough to get the data for me on the stimulus money that the city has received. Could we get that from the school department also? Mayor Lozeau It is in what I sent you. What I sent you is an Excel Workbook and there are sheets on the bottom. If you go to each tab...I meant to e-mail you back when you asked about it being transportation. That was just the first tab. If you go across the bottom there will be tabs for wastewater, there will be a tab for the schools, and it will just basically turn the page for you. Alderman Pressly Okay. I will have to figure out how to do that. Mayor Lozeau Actually it is not hard. When you look at it the way I have just described it, just look at the bottom of that sheet and there will be literally little tabs like you would find on files, and they will each have a name on them. Just put your mouse on it and click. It will turn the page. If you have trouble let me know and I will print it off for you. Alderman Pressly Okay. Thank you. A member of the public came to speak and referenced an article in the paper that there would be some new money coming from the State. Have you heard anything to that affect? Mayor Lozeau Well there is a lot of talk out there about new money. There is talk about the $41 million New Hampshire is getting for education dollars. Alderman Pressly That was what the reference was. Mayor Lozeau That is what they were referencing? Because there is also more neighborhood stabilization money in New Hampshire that is coming. Don’t know which communities will be targeted, but yes I have heard about it. I have spoken with the Governor, I have spoken with the Superintendent, and I have spoken with the President of the Board. There are no decisions that have been made on the State level relative to that money. Alderman Pressly Thank you. Mayor Lozeau You are welcome. Is there further discussion this evening? Finance – 09/16/10 Page 4 WARRANT MOTION BY ALDERMAN CLEMONS TO APPROVE WARRANT #5 IN THE TOTAL AMOUNT OF $10,577,433.94 OF WHICH $3,333,133.74 ARE ACCOUNTS PAYABLE, $5,314,038.47 ARE PAYROLL AMOUNTS, $201,360.75 ARE PREPAY AMOUNTS AND $1,728,900.98 ARE WIRE TRANSFERS MOTION CARRIED ADJOURNMENT MOTION BY ALDERMAN CLEMONS TO ADJOURN MOTION WITHDRAWN Alderman Deane I just wanted to comment, I talked to Alderman Chasse last evening after the meeting, and he said he would not be able to attend due to the timeline and the traffic and now it is raining out so it is probably going to be even a little longer for him. That is why he is not here tonight. Mayor Lozeau Thank you. MOTION BY ALDERMAN CLEMONS TO ADJOURN MOTION CARRIED The Finance Committee meeting was adjourned at 6:55 p.m. Alderman-at-Large Ben Clemons Committee Clerk