Board of Finance: Budget, resignation on agenda
The Board of Finance held its first meeting since July, with a full agenda in front of Chairman Warren Serenbetz and members Al Alper, Lynne Vanderslice, and Jeffrey Rutishauser. Absent were Andy Pforzheimer and James Meinhold. Budget matters and the resignation of Mr. Pforzheimer were the main issues of the evening.
Chief Financial Officer Sandra Dennies said FEMA has not made a “formal commitment” to reimburse the town for the approximately $690,000 of town expenses she outlined at the July meeting.
“We had made a bunch of recordings in the fiscal year ’13 based on our projected actual reimbursements that had to be reversed out,” she said, indicating that entries were made with regard to FEMA.
The necessity to reclassify funds that were brought in during the summer means there is still work to be done on fiscal year ’13, she added.
“The expense and the budget match identically,” she said. “There have been an interest and a principal payment that were received in June that need to be reclassified. So, once again, we are not finished. The auditors will be in next week.
Overall, she seemed pleased with where the fiscal year ended, with $1.4 million more than had been budgeted in revenues.
“Between all of the towns funds, we end up with $1 million that will go into our undesignated fund balance at year end,” she said.
“We’ve ended up in a very good place.”
Ms. Dennies remained at the podium for the request of $155,714 of additional appropriation for town roads, which she assured the board was “our money.”
“Regardless of when it comes in, it needs to be appropriated to recognize the full amount that the state has given us,” she said.
After discussion and clarification, the motion passed unanimously.
Before the meeting went into executive session, Mr. Serenbetz announced the resignation of Mr. Pforzheimer, effective Monday, Sept. 16.
“He just felt that he has been unable to attend due to business commitments,” Mr. Serenbetz said. He said Mr. Pforzheimer thought it was best to resign to allow the Democratic Town Committee time to find a replacement.
As Mr. Pforzherimer’s term is up in November, it is expected Richard Creeth will assume the role. He had already been recommended for a slot on the board in July’s Democratic caucus.
“The DTC will need to nominate a person to take his slot,” DTC chair Tom Dec said. “We anticipate that Richard Creeth will take his place. He will run unopposed in November.”