Finance Committee Minutes

Tolland Finance Committee

Capital Planning Subcommittee - Minutes

Meeting Type: Regular via Teleconference

Meeting Date: Thursday June 11, 2020

Meeting Time: 4:00PMPM

Meeting Location: Remote via Teleconference at 1 978-990-500, ID 539192 #

ORDER of BUSINESS:

Call to Order at 4:08 PM

Attendance – Cathy Parzych, Mira Munson, Pat Storey. Absent – Ted Locke, Margaret McCllelan

Review of June 4 minutes the minutes were approved and unanimously approved.

Old Business

Capital Planning – Review of proposed Budget Calendar and List of Capital Assets.

The draft of the budget Calendar was approved.

We went over the List of Capital Assets. In Sept. as shown on the Budget Calendar, the Capital Improvement Comm. will meet with the Fire Chief, Police Chief, DPW Supt. And Selectmen (for facilities) and discuss their five year plans and update this list. We will review this again in Feb. and submit it to the Selectmen by March 15 for inclusion in the annual budget as well as the electronic distribution of these minutes.

New Business

Other – We have now completed our review on the Capital Improvement Program Bylaw, Annual udget Bylaw, Capital Planning Policy, Annual Budget Calendar, and Capital Assets list. We should schedule a time to go over these documents with the Selectmen. Copies of these documents will e attached to the minutes I submit to the town Clerk.

There are three remaining policies that the state has recommended Tolland adopt Financial Reserves, Debt Affordability Analysis, and Debt Management; to review these policies we must have Margaret in the meeting. Pat will contact Margaret to find a mutually convenient time for us all to meet.

Adjournment

Respectfully Submitted

Pat Storey

Approved July 22, 2021. Signed Copy on File with the Town Clerk