TOWN OF WOODSTOCK
TOWN BOARD BUSINESS
MEETING:
7:00PM, TUESDAY, February
16th, 2021
via ZOOM
Supervisor Bill McKenna
presiding
Council Members present: Councilman Reggie Earls
**Councilman
Richard Heppner – Left meeting at 7:05
(voted on refunding of TH Bond)
Councilwoman Laura Ricci
Councilman Lorin
Rose
Deputy Supervisor Maria Elena
Conte
At 7:00pm Supervisor McKenna
called the meeting to order. The press was represented by Bill Kemble and Nick
Henderson and Felicia Katchik.
ANNOUNCEMENTS:
·
Public Be Heard: Enter your name into the chat.
2 minutes a piece, first 5 to comment in chat will have a chance to talk.
Public Be Heard will be at the end of the meeting.
·
Supervisor said the Town Attorney has sent his
case against the Conigliaro’s and Mr.
Karolys to the Town Court regarding the illegal dumping on Church Rd. He is hoping the case will now move
forward. Mr. Eighmey asked the
Supervisor if he was able to retrieve the photo’s that were sent to him and
Supervisor McKenna answered yes.
·
Councilman Earls said the recommendations for
Police Reform is moving along and will be on line soon. Supervisor McKenna said they would be
discussed at the March 9th meeting and then sent to the Governors
Office.
RESOLUTIONS:
·
Accepting
of minutes
·
Accepting
Town Clerk’s report
·
Authorizing
transfers and payment of vouchers
·
Accept
Retirement: Highway Superintendent
·
Appoint
Acting Highway Superintendent
·
Appointment
CCD
·
Appointment
Ethics Board
·
Adopt Fund Balance Policy
·
Adopt Bonding Resolution- Refinance Town Hall
·
Accept Amended Encumbrance Sheet
RESOLUTION
69-2021
ACCEPT
MEETING MINUTES
Offered
by Supervisor McKenna, seconded by Councilwoman Ricci:
BE IT RESOLVED,
to accept
minutes for meetings held on 1/19, 2/9.
All voted 4-0: Supervisor McKenna - aye
Councilman Rose - aye
Councilwoman Ricci -
aye
Councilman Earls – aye
RESOLUTION
70-2021
ACCEPT
TOWN CLERK REPORT
Offered
by Supervisor McKenna, seconded by Councilman Rose:
BE
IT RESOLVED,
to accept the Town Clerk’s report.
All voted 4-0: Supervisor McKenna - aye
Councilman Rose - aye
Councilwoman Ricci -
aye
Councilman Earls – aye
RESOLUTION 71-2021
AUTHORIZE PAYMENT OF
AUDITED VOUCHERS
Offered by Supervisor McKenna, seconded by Councilwoman
Ricci:
BE IT RESOLVED, to authorize payment of audited vouchers in the amount
of $1,733,325.09
All voted 4-0: Supervisor McKenna - aye
Councilman Rose - aye
Councilwoman Ricci -
aye
Councilman Earls – aye
RESOLUTION 72-2021
AUTHORIZE TRANSFERS PER
TRANSFER SHEET
Offered by Supervisor McKenna, seconded by Councilman
Earls:
BE IT RESOLVED, to authorize transfers
per Transfer Sheet.
All voted 4-0: Supervisor McKenna - aye
Councilman Rose - aye
Councilwoman Ricci -
aye
Councilman Earls – aye
RESOLUTION
73-2021
ACCEPT
RETIREMENT OF HIGHWAY SUPERINTENDENT
Offered
by Supervisor McKenna, seconded by Councilwoman Ricci:
BE
IT RESOLVED,
to accept the retirement of Michael Reynolds, Highway Superintendent effective
February 27th, 2021.
BE
IT FURTHER RESOLVED,
to thank him for his many years of service.
All voted 4-0: Supervisor McKenna - aye
Councilman Rose - aye
Councilwoman Ricci -
aye
Councilman Earls – aye
RESOLUTION
74-2021
APPOINT
ACTING HIGHWAY SUPERINTENDENT
Offered
by Supervisor McKenna, seconded by Councilwoman Ricci:
BE
IT RESOLVED, to
appoint Scott Bonestell as Acting Highway Superintendent, effective March 1st,
2021.
All voted -0: Supervisor McKenna - aye
Councilman Rose - aye
Councilwoman Ricci -
aye
Councilman Earls – aye
RESOLUTION
75-2021
APPOINTMENT
TO CCD
Offered
by Supervisor McKenna, seconded by Councilwoman Ricci:
BE
IT RESOLVED, to
appoint James Dougherty, to the Commission for Civic Design (CCD), term to
expire December 31st, 2023.
All voted 3-0-1: Supervisor McKenna - aye
Councilman Rose -
aye
Councilwoman Ricci - aye
Councilman Earls – nay
RESOLUTION
76-2021
APPOINTMENT
TO THE ETHICS BOARD
Offered
by Supervisor McKenna, seconded by Councilwoman Ricci:
BE
IT RESOLVED, to
appoint Lynn Sehwerert, to the Ethics Board, term to expire December 31st,
2023.
All voted 3-1-0: Supervisor McKenna - aye
Councilman Rose - abstained
Councilwoman Ricci - aye
Councilman Earls – aye
RESOLUTION
77-2021
ADOPT
THE FUND BALANCE POLICY (SEE ATTACHED)
Offered
by Supervisor McKenna, no second, no vote
BE
IT RESOLVED, to
adopt the attached Fund Balance Policy.
Town
of Woodstock Fund Balance Policy A. Purpose: For increased financial stability,
the Town of Woodstock (Town) desires to manage its financial resources by
revising the fund balance policy for the General Fund and all Special Revenue
Funds that are legally mandated to be kept separately (ie. Highway, Water,
Sewer, Lighting etc.). This will ensure the Town maintains a prudent level of
financial resources to protect against reducing service levels or raising taxes
and fees because of temporary revenue shortfalls, unexpected one-time
expenditures, emergencies, or disasters. In addition, this Policy is to be
adopted to promote compliance with GASB Statement 54. B. Background: The
Governmental Accounting Standards Board (GASB) issued GASB Statement Number 54
(Statement 54), Fund Balance Reporting and Government Fund Type Definitions in
February 2009. Statement 54 abandons the reserved and unreserved
classifications of fund balances and replaces them with five new
classifications: non-spendable, restricted, committed, assigned and unassigned.
In addition, Statement 54 updates the definitions of fund types, government
with the most significant changes related to special revenue funds. These
changes were made to bring greater clarity and consistency to fund balance
reporting, resulting in an improved usefulness of fund balance information. The
requirements of Statement 54 are effective for financial statements for periods
ending June 30, 2011. In April 2011, the Office of the State Comptroller (OSC)
issued updated guidance on Fund Balance Reporting and Government Fund Type
Definitions.1 The guidance addressed how the changes in GASB 54 were
implemented in the Annual Update Document and the effects on local government
reporting. Chapter 528 of the Laws of 2000 gives local governments the
authority to carry over a “reasonable amount” of unappropriated unreserved fund
balance from one year to the next.2 This Policy establishes the percentage that
the Town of Woodstock considers the “reasonable amount” for each class of fund
and redefines the terminology set forth in Chapter 528 to follow GASB 54. 1.
http://www.osc.state.ny.us/localgov/pubs/releases/gasb54.pdf 2. See OSC
accounting bulletin, Budgeting and Fund Balance Legislation, from July 2001 at
www.osc.state.ny.us/localgov/pubs/releases/budfund.htm. C. Definitions3 : 1.
Fund Balance – Consists of the measurement of available resources and
represents the difference between total assets and total liabilities. 2.
Non-spendable – Consists of the amounts that cannot be spent because they are
in a nonspendable form or legally or contractually required to be maintained
intact. 3. Restricted – Consists of amounts that are subject to externally
enforceable legal purpose restrictions imposed by certain creditors, grantors,
contributors, or laws and regulations of other governments; or through
constitutional provisions or enabling legislation. Legal enforceability means
that an external party can compel a government to use resources created by
enabling legislation only for the purpose specified by the legislation. 4.
Committed (Unrestricted) – Consists of amounts constrained to specific purposes
by a government itself using its highest-level decision-making authority (Town
Board). The amount to be committed may be determined after the date of the
commitment. The Town Board must take formal action before the end of the fiscal
year to add or remove a constraint. 5. Assigned (Unrestricted) – Consists of
amounts that are subject to a purpose constraint that represents an intended
use established by the government’s highest level decision making authority
(Town Board), or by the Board’s designated body or official. The purpose of the
assignment must be narrower than the purpose of the general fund. In funds, other
than the general fund, assigned fund balance will be the residual amount of
fund balance. 6. Unassigned (Unrestricted) – This consists of all balances
remaining after considering the other four categories for the general fund and
could result in a surplus or a deficit. Use is least constrained in this
category. In funds, other than the general fund, the unassigned classification
should only be used to report a deficit balance. D. General Policy: 1. Reserves
a. The Town shall strive to maintain a level of reserves to guard its citizens
against a service disruption because reserves are essential to dealing with
unforeseen emergencies or changes in condition b. Funding of reserves can come
from surplus funds (excess of revenues over expenditures or one-time revenues)
or other sources as designated by the Town Board. c. All expenditures from or
uses of reserve will require prior Board approval by adoption of Use of Reserve
Resolution. d. Reserves shall only be used for the purpose in which they are
intended. 2. Fund Balance Policy and Procedures This Policy is based upon the
rule that the Town of Woodstock has fully funded or reserved for all operating
expenses incurred in prior years in the funds. 3. GASB 54 paragraphs 5-17 a.
The unassigned (unrestricted) fund balance range for General Fund shall be not
be less than 5% and not more than 10% of the total adopted budgeted
expenditures of the Fund. b. The assigned (unrestricted) fund balance of any
Special Revenue Fund shall not be less than 7.5% and not more than 12.5% of the
total adopted budgeted expenditures of any Fund. c. The Supervisor shall
annually calculate and verify the Town’s compliance with this policy. In
determining compliance, the following formula will be used: the audited balance
available in the unassigned (unrestricted) / assigned (unrestricted) fund
balance of the Town’s Funds for the most recently audited fiscal year, divided
by the adopted expenditure budget for the ensuing fiscal year for each of the
Town’s Funds. d. The Supervisor shall report annually to the Town Board the
results of the calculation and make recommendations for the use of funds in the
event of a surplus or the replenishment of funds in the event of a deficit. e.
Surplus: In the event the unassigned (unrestricted) / assigned (unrestricted)
fund balance of any of the Town’s funds exceed the maximum requirements, the
excess may be utilized for any lawful purpose approved by the Town Board. To
minimize the long-term effect of such use, the excess shall be appropriated to
fund one-time expenditures or expenses which do not result in recurring
operating costs, or other one-time costs including the establishment or
increase in legitimate restrictions (reserves) of fund balance. f. Deficit: In
the event the unassigned (unrestricted) / assigned (unassigned) fund balance
for the Town’s funds falls below the minimum requirement for any fiscal year,
the Supervisor or Chief Accounting Officer shall prepare and submit to the Town
Board a plan to restore the balance to the minimum target level in the next
budget year or other appropriate period. 3. Application of Funds: In instances
where expenditures are incurred that will require the funding sources to be
comprised of two or more types of fund balance categories, the order of
exhaustion of the fund will be as follows: 1. Reserved 2. Committed 3. Assigned
4. Unassigned E. Review: The Supervisor will present this Policy annually at
the Organizational Meeting of the Town Board for review and adoption.
RESOLUTION 78-2021
ADOPT REFUNDING RESOLUTION
FOR TOWN HALL BOND
Offered by Supervisor
McKenna, seconded by Councilman Heppner:
BE IT RESOLVED, the Woodstock Town Board adopt the attached refunding
resolution for the Town Hall Bond, and
BE
IT FURTHER RESOLVED, the Town Board
authorize the Supervisor to complete all necessary paperwork for said
refunding, and
BE
IT FURTHER RESOLVED, the Town Clerk enter
the entire refunding resolution into the record, and
BE IT FURTHER RESOLVED, the Town Clerk make all necessary advertising as required
by law.
All voted 5-0: Supervisor McKenna - aye
Councilman Rose – aye
Councilman Heppner - aye
Councilwoman Ricci - aye
Councilman Earls – aye
RESOLUTION 79-2021
ACCEPT AMENDED 2020 ENCUMBRANCE SHEET
Offered by Supervisor McKenna, seconded by
Councilwoman Ricci:
BE IT RESOLVED, to accept the amended
2020 encumbrance sheet.
All voted 4-0: Supervisor McKenna - aye
Councilman Rose - aye
Councilwoman Ricci -
aye
Councilman Earls – aye
PUBLIC BE HEARD: No one spoke
At 7:20pm, Supervisor Moved to adjourn,
seconded by Councilman Rose. All voted
aye.
