TOWN OF
FINANCE COMMITTEE MEETING
MINUTES OF FEBRUARY 11,
2008
Present: Bruce Clouette, Carl Schaefer, Mayor
Paterson, Helen Koehn,
The
meeting was called to order at 6:10 p.m.
We
began with the minutes of the January 14, 2008.
Since Alison Blair was not present and Carl Schaefer had not arrived
yet, we will defer approval of minutes until the next meeting.
Bruce
Clouette welcomed Joe Centofanti from our audit firm, Kostin, Ruffkess &
Co. Joe gave a brief overview of the
Comprehensive Annual Financial Report for the Town for fiscal year ended June
30, 2007. Joe noted that we received an
Unqualified Opinion and that there were no substantial issues with our
financial statements. Joe also provided
a summary of the management comments.
Cherie distributed a copy of the management comments and our draft
responses to those comments. The
Committee will review and discuss at our next meeting. Cherie also distributed the Eastern Highlands
Health District Fraud Policy that we can use as a draft in developing the
Town’s fraud policy. Cherie & Jeff
will have a draft Town policy for the Committee to review at this next
meeting. .
Next
item on the agenda was the appointment of the auditors for fiscal year
2007/08. We will appoint our current
firm for this fiscal year, but will revisit this issue again next year.
Cherie
gave a brief review of the salary transfers and noted that at this point, we
are projecting a $15,560 savings in the salary accounts for fiscal year
2007/08.
Last
item was a discussion of the budget review calendar. It was noted that the revised Charter did not
call for a Public Hearing, but we have carried that forward to allow comments
from the public. We have also included
two public information sessions. It was
recommended that the April 17’th schedule and April 7’th schedules be switched. In this way, the April 7’th meeting will be a
public information session on the Manager’s budget and the April 17’th meeting
will be the Public Hearing.
Motions:
Motion
was made by Bruce Clouette and seconded by Carl Schaefer to recommend
acceptance of the Comprehensive Annual Financial Report for fiscal year 2007/08
to the Town Council. Motion so passed.
Motion
was made by Bruce Clouette and seconded by Carl Schaefer to recommend the Town
Council appoint the firm of Kostin, Ruffkess & Co as audit firm for fiscal
year 2007/08. Motion so passed.
Motion
was made by Bruce Clouette and seconded by Carl Schaefer to recommend the Town
Council approve the salary transfers for 07/08 as presented. Motion so passed.
Motion
was made by Bruce Clouette and seconded by Carl Schaefer to adjourn. Motion passed.
The meeting adjourned at 7:10 p.m.
Respectfully submitted,
Cherie Trahan
Controller/Treasurer