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11-01-06 Minutes
November 1, 2006

The Board of Finance held a regular meeting on this date at the Police Department meeting room.  Members present were Glenn Frishman, Chairman; Andrew Rines, Secretary; John O’Brien; Dudley Wheeler and Kevin Burns.  Also present Maryanna Stevens, Director of Finance and members of the Conservation Commission and Open Space Bonding Committee.  

Bryan Bentz was absent from the meeting.

Mr. Frishman called the meeting to order at 7:30 p.m.

Previous minutes
Mr. Burns made a motion to accept the minutes of the September meeting as presented.  Mr. Wheeler seconded and voting was unanimous.

Mr. Frishman welcomed Jennifer Herbst, Co-chair and John Swenarton of the Committee for Open Space Bonding. Also present, Bill Lyman, Alicia Betty, Ed Hart and Bill Ferguson.   Ms. Herbst stated that the Open Space Committee was independent of the Conservation Commission.  A handout was provided for the BOF members.  Ms. Herbst started with their objectives, to acquire open space lands in the Town of Stonington through bonding and open space land grants from State and Federal grants.  She added that there are two types of open space which included Dedicated open space and Managed open space.  The Committee feels preserving open space will help conserve natural resources, protect wildlife habitat, create more environmentally sensitive development as well as enhance the quality of life for Stonington residents and businesses.  The Committee performed a random telephone survey and reported that more than half said they would pay $50.00 more per year in taxes to have the Town acquire more open space.  The Committee feels that there will unlikely be a better time to acquire open space as land prices continue to rise.  They added that a $2 to $4 million bond would be reasonable to get the program started; this would work like a home equity line of credit and be used only as a situation arose.  A public workshop is scheduled for November 27 at Mystic Middle School.  The Committee for Open Space Bonding has met with First Selectman William Brown.  They would appreciate Stonington voters being given the opportunity to decide.  Mr. Burns asked how much dedicated or managed space there is in Stonington.  Ms. Herbst and Mr. Swenarton were not sure.  After a brief discussion, the Committee asked to return at the December meeting to receive additional feedback and answer questions.

At this time, Mr. Frishman recessed for 5 minutes.


Director of Finance
Mrs. Stevens informed the members of the pending GASB 45 changes.  She added that the Town of Stonington was on Phase 2 for 2008-2009.  Educational and informational sessions will be necessary after the actuarial report.

New Business
Mr. Burns asked Mrs. Stevens if she had compiled the CIP information discussed at the last meeting, (list of CIP funds available).  She stated that she had not and would work on it for December.  He also questioned as to whether the Part time Dog Warden received benefits.  Mrs. Stevens informed him that she did not as this part time position was not eligible.

Subcommittee reports
Mr. O’Brien confirmed that the High School project books are still open.  

There being no further business to come before the Board, Mr. Rines made a motion to adjourn.  Mr. Wheeler seconded the motion and the meeting was unanimously adjourned at 8:25 p.m.

                                                Respectfully submitted,

                                                Andrew W. Rines