Board of Finance

Approved by the Board of Finance February 20, 2024 MINUTES Vote: Unanimous Vol. 7. Page 412 BOARD OF FINANCE REGULAR MEETING CITY HALL AUDITORIUM / ZOOM January 16, 2024 A REGULAR MEETING of the Board of Finance was held on Tuesday, January 16, 2024. Attendance was by Zoom and in person. Present at City Hall were Mayor Elinor Carbone, Comptroller John Monks, and Board of Finance Members Laurene Pesce, and Wendy Traub. Board of Finance Members James Wright, Deborah Iannacito, and Christopher Anderson joined via Zoom. Board of Finance Member Chris Beyus was absent. Mayor Carbone called the meeting to order at 5:00 p.m. beginning with the Pledge of Allegiance. APPROVE MEETING MINUTES On a motion by Mr. Wright, seconded by Mrs. Iannacito, the Board voted to accept the Regular Meeting Minutes from December 19, 2023. Mrs. Traub abstained. BOARD OF EDUCATION PERFORMANCE REPORT On a motion by Mrs. Pesce, seconded by Mrs. Traub, the Board voted unanimously to accept the Board of Education Budget Performance Reports. Mayor Carbone told the Board that the Board of Education will be coming to the February 20, 2024, Finance Meeting to do a review of their Budget Performance Report, a presentation on their Capital Plans for Fiscal Year 24/25, and to ask for a surplus transfer. Mayor Carbone added that this is an opportunity to look at the Capital Plan to see what can be taken off, by completing a project. Mrs. Iannacito asked if this plan was just a request, and Mayor Carbone said that it was. BUSINESS BY DEPARTMENT HEADS On a motion by Mr. Wright, seconded by Mr. Anderson, the Board voted unanimously to consider business by department heads. Mayor Carbone told the Board that she had met with Comptroller John, the new Budget Manager, and the new Deputy Comptroller to divide and conquer the audit responsibilities and the upcoming budget season. She added that she can’t wait to see what the next six months will bring as the team solidifies in their roles. BUSINESS BY MAYOR & MEMBERS On a motion by Mrs. Traub, seconded by Mr. Anderson, the Board voted unanimously to consider business by the Mayor and members of the Board of Finance. Mrs. Pesce wished everyone a Happy New Year. Mayor Carbone asked the Board for volunteers for the Budget Subcommittee. Mrs. Traub volunteered. Mayor Carbone told the Board that Department Head requests are due February 15th per Charter, and the beginning of March is when the Budget Subcommittee will start meeting. Mrs. Pesce asked about hiring a Social Services Director, and Mayor Carbone told her that they are looking to hire a Social Worker in the Police Department Budget. Mrs. Pesce told her that she is looking for a Social Services Director to assist with all the homeless children in the City, and to avoid what the City just went through with finding a location for the winter shelter, Mayor Carbone said that they will look into it. Mayor Carbone explained to the Board that the Fair Rent Commission will be holding its first meeting on Thursday, January 18, 2024, and is hoping that this will also help with the homeless issues in the City. Mayor Carbone gave the Board details on the revenues associated with the Cannabis Tax, Opioid Settlement, and the Nips money. Mayor Carbone explained that these are revenues that the state strictly mandates, and there are certain ways in which the City can use the funds. Mayor Carbone said that they will be providing quarterly reports that will be accepted by the City Council on the revenues associated with each fund, and how they are being utilized. ADJOURNMENT On a motion by Mr. Anderson, seconded by Mrs. Iannacito, the Board voted unanimously to adjourn at 5:18 p.m. Respectfully submitted by ATTEST: Heather Abraham, Asst. City Clerk CAROL L. ANDERSON, CITY CLERK CAROL L. ANDERSON, CITY CLERK