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SPECIAL MEETING
FEBRUARY 13, 2007

ATTENDANCE: Carvin Hilliard, Chair; Gwen Briggs; William Krummel;
Richard McQuaid; Douglas Sutton

STAFF: Thomas Hamilton, Finance Director, Frederic Gilden, Comptroller

Mr. Hilliard called the meeting to order at 6:44 p.m.

PRESENTATION ON THE FISCAL YEAR 2007-08 OPERATING BUDGET BY FINANCE DIRECTOR. DISCUSSION AND TAKEN ANY ACTION NEEDED

Mr. Hamilton explained the role the Common Council takes in setting the overall cap. He explained that later in the process there would be an opportunity for the Common Council to adjust the cap either up or down. Tonight is a presentation of the recommended budget.

The Committee members received a written copy of Mr. Hamilton’s power point presentation.

The recommended budget reflects an increase of 5.9% in total expenditures which requires a 6.1% tax levy. Mr. Hamilton explained that 54% of the money is directed to the Board of Education. The next largest amount goes to public safety. Property taxes provide 86% of the revenue.

Mr. Hamilton explained the key budget drivers as well as staffing changes. He added that there will be no impact from the re-evaluation next fiscal year.

Ms. Briggs asked if the Parking Authority has been fully accounted for. Mr. Hamilton replied that said that they should finish this fiscal year with a surplus. He added that the City should be able to transition the full cost of the Parking Authority.

Mr. Hamilton said that Norwalk has been very fortunate in the amount of taxes they collect. Greenwich is number one in Connecticut and Norwalk is number two.

Mr. Hamilton presented the budget summary expenditures by department.

Mr. Hilliard requested that the Committee hold a public hearing prior to the Common Council setting the budget cap.

There was no further business and the meeting was unanimously adjourned at 7:40 p.m.

Respectfully submitted,

Rosemarie Lombardi
Telesco Secretarial Services