Board of Finance

Approved by the Board of Finance February 21, 2023 MINUTES Vote: Unanimous Vol. 7. Page 393 BOARD OF FINANCE REGULAR MEETING CITY HALL AUDITORIUM / ZOOM JANUARY 17, 2023 A REGULAR MEETING of the Board of Finance was held on Tuesday, January 17, 2023. Attendance was by Zoom and in person. Present at City Hall were Mayor Elinor Carbone, Comptroller Robin Stanziale, Treasurer Dan Farley, and Board of Finance Members Chris Beyus, Laurene Pesce, and Deborah Iannacito. Joining via Zoom were Board of Finance Members Christopher Anderson, James Wright, and Mark Bushka. Mayor Carbone called the meeting to order at 5:00 p.m. beginning with the Pledge of Allegiance. OPEN TO THE PUBLIC On a motion by Mr. Beyus, seconded by Mrs. Pesce, the Board voted unanimously to open the meeting to the public. No members of the public were in attendance. APPROVE MEETING MINUTES On a motion by Mr. Beyus, seconded by Mr. Anderson, the Board voted to accept the Regular meeting minutes from October 18, 2022. Mr. Bushka abstained. On a motion by Mrs. Pesce, seconded by Mr. Anderson, the Board voted to accept the Special Joint meeting minutes with City Council from December 5, 2022. Mr. Bushka abstained. On a motion by Mr. Wright, seconded by Mr. Beyus, the Board voted to accept the Special Joint meeting minutes with the City Council and Board of Education from December 5, 2022. Mr. Bushka abstained. REPORT FROM THE COMPTROLLER Comptroller Robin Stanziale told the Board that the expense reports have been handed out as of the end of December and they are working to get the revenues from all the departments added to the reports. Budgets are also being submitted, and a draft of the Budget Calendar has been handed out. She went on to say that the Auditors will be back Monday, January 23, 2023, with hopes that the Audit will be completed by the end of February. She also said that her department is working on all the end-of-the-year items. Mr. Beyus asked if the cannabis revenue will be included in FY 22-23, Mayor Carbone explained that it would be, and any revenues received from cannabis sales are currently only allowed for certain expenditures. For example, neighborhood improvements where the facility is located, education programs for drugs and alcohol, and other support services for mental health and addiction. She is hoping that they will change the legislation to allow the funds to go back into the community. The Board spoke briefly on the OPEB (Other Post-Employment Benefits) disclosures that were given out. Comptroller Robin Stanziale explained that the valuation hasn’t been calculated yet, and there will be an update sent out when it has been. BUSINESS BY DEPARTMENT HEADS On a motion by Mr. Beyus, seconded by Mrs. Pesce, the Board voted unanimously to consider business by department heads. Treasurer Dan Farley let the Board know that he is currently working on the official statement for the next bonding and that the bond/note sale is scheduled for March 1, 2023. BUSINESS BY MAYOR & MEMBERS On a motion by Mr. Beyus, seconded by Mr. Bushka, the Board voted unanimously to consider business by the Mayor and members of the Board of Finance. Mrs. Pesce asked if there was a way to get an update on the High School/Middle School project to the community. Mr. Anderson is looking forward to funding the OPEB. ADJOURNMENT On a motion by Mr. Beyus, seconded by Mr. Anderson, the Board voted unanimously to adjourn at 5:43 p.m. Respectfully submitted by ATTEST: Heather Abraham, Asst. City Clerk CAROL L. ANDERSON, CITY CLERK CAROL L. ANDERSON, CITY CLERK