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FINANCE / CLAIMS
COMMITTEE ACTIONS
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ATTENDANCE: Carvin Hillard, Chairman; Gwen Briggs, Douglas Sutton,
Douglas Hempstead, Kelly Straniti (8:10 p.m.)
STAFF: Thomas Hamilton, Director of Finance, Lisa Biagiarelli,
Tax
Department, Frederic Gilden, Comptroller
CALL TO ORDER
Mr. Hillard called the meeting to order at 8:05 p.m.
1. Claims Committee received the monthly Claims Report; review and approve claims as required for Claims Report dated June 14, 2007.
** MR. HEMPSTEAD MOVED AGENDA ITEM #1.
Ms. Biagiarelli stated that there were three Special Requests this month and she then reviewed the details of the three Special Requests: Bedin Realty, Inc; First County Bank, and St. Paul’s Flax Hill Condominium with the Committee members.
** THE MOTION TO APPROVE THE THREE CLAIMS FOR BEDIN REALTY, INC; FIRST COUNTY BANK, AND ST. PAUL’S FLAX HILL CONDOMINIUM AS LISTED IN THE REPORT PASSED UNANIMOUSLY.
2. Narrative on Tax Collection dated June 14, 2007 – Receive report and discuss.
3. Monthly Tax Collector’s Report Dated May 31, 2007 – Receive report and discuss.
** MR. SUTTON MOVED AGENDA ITEM #2 & 3.
Ms. Biagiarelli stated that the office is currently in the process of preparing 80,000 tax bills to be mailed to Norwalk residents.
Ms. Straniti joined the meeting at 8:10 p.m.
Ms. Biagiarelli stated that there would be a more detailed tax report next month after the tax bills are mailed out. She requested that the Committee members call her when they received their bills. This helps her to track the delivery date. If one area does not receive their bills, then she will call the Post Office to check on potential problems.
Ms. Briggs commented that she was quite pleased to see that the Fiscal Year 2006-2007 Grand List tax collection percentage of 98.39%, and the Sewer Tax Collection rate was 97.55%. Mr. Hamilton commented that there were some taxes still outstanding because of the 60 day rule, but that he also agreed that this was a good rate for tax collection.
Ms. Biagiarelli said that she expected to be scheduling a tax sale in the fall around October or November and would inform the Committee members about this at the appropriate time.
** THE MOTION TO RECEIVE THE NARRATIVE ON TAX COLLECTION DATE JUNE 14, 2007 AND MONTHLY TAX COLLECTOR’S REPORT DATED MAY 31, 2007 PASSED UNANIMOUSLY.
4. Receive the Board of Estimate and Taxation Special Appropriation from June 4, 2007 meeting.
Mr. Hempstead reminded everyone that Chairman Hillard had forwarded this agenda item to the Public Works Committee for approval in order to have the item appear on the June 12th Common Council agenda.
5. Authorize the Mayor, Richard A. Moccia, to execute general
liability insurance placement for the FY 2007-2008 fiscal year with the Connecticut
Interlocal Risk Management Agency (CIRMA) for an amount not-to-exceed $(to
be determined).
Account #168510-5418
6. Authorize the Mayor, Richard A. Moccia, to execute property insurance placement for the FY 2006-2007 fiscal year with the HD Segur Insurance Agency in an amount not-to-exceed $(to be determined) Account # 168510-5418
7. Authorize the Mayor, Richard A. Moccia, to execute contract changes with the HD Segur Insurance Agency relative to property insurance placement in an amount not-to-exceed $(to be determined) (25% of contract total). Account #168510-5418
Mr. Hamilton explained that the final figures had not yet been received by the Finance Department. He then gave a brief history of the City’s relationship with CIRMA and said that currently, the City was in the third year of a five year contract. He also informed the Committee that when CIRMA was selected, the City had completed a full competitive bidding process. The full competitive bid process will be done again in two years when the current contract expires.
Mr. Hempstead had several questions about why the liability premium was so high. Mr. Hamilton said that the liability covers the Board of Education, and all the municipal employees, including the Police Department. He then reminded everyone of a police incident where an officer had stopped a vehicle, the driver gunned the car and took off, killing one person and leaving another person severely injured for life. That case resulted in a multi-million dollar settlement from the City for the injured survivor.
Mr. Hamilton then reviewed the two contract proposals for HD Segur Insurance Agency regarding the property insurance. Mr. Hempstead noted that while the value of the City buildings have increased, the actual premium has decreased by 7%. Mr. Hamilton referred to the report issued by Napco LLC, one of HD Segur’s partners, who handle the City of Norwalk account. At the present time, the insurance companies are recovering from the results of Hurricane Katrina, Rita and Wilma. Last year, there were no significant catastrophic losses, so the insurers are loosening their terms and conditions in order to retain some accounts.
Mr. Hempstead then asked about the Builders Risk coverage for Norwalk High School and Mr. Hamilton explained that while the construction is underway, the City will have this coverage. Once the new addition is completed and the contractors are no longer on site, then the City will include the building with the regular property coverage.
Mr. Hamilton then explained that he had tentative numbers for the proposals and also said that the percentage of the contract total in Agenda Item #7 should be changed to 15% rather than 25%.
** MS. STRANITI MOVED TO APPROVE THE FOLLOWING AGENDA ITEMS AS AMENDED:
5. AUTHORIZE THE MAYOR, RICHARD A. MOCCIA, TO EXECUTE GENERAL LIABILITY INSURANCE PLACEMENT FOR THE FY 2007-2008 FISCAL YEAR WITH THE CONNECTICUT INTERLOCAL RISK MANAGEMENT AGENCY (CIRMA) FOR AN AMOUNT NOT-TO-EXCEED $ 617,216.00. ACCOUNT #168510-5418
6. AUTHORIZE THE MAYOR, RICHARD A. MOCCIA, TO EXECUTE PROPERTY INSURANCE PLACEMENT FOR THE FY 2006-2007 FISCAL YEAR WITH THE HD SEGUR INSURANCE AGENCY IN AN AMOUNT NOT-TO-EXCEED $196,750.00. ACCOUNT # 168510-5418
7. AUTHORIZE THE MAYOR, RICHARD A. MOCCIA, TO EXECUTE CONTRACT CHANGES WITH THE HD SEGUR INSURANCE AGENCY RELATIVE TO PROPERTY INSURANCE PLACEMENT IN AN AMOUNT NOT-TO-EXCEED $ 29,513.00 (15% OF CONTRACT TOTAL). ACCOUNT #168510-5418
** THE MOTION PASSED UNANIMOUSLY.
8. Approve the minutes of the following Finance Committee Meeting:
May 10, 2007.
** MS. BRIGGS MOVED TO APPROVE THE MINUTES OF THE FOLLOWING FINANCE COMMITTEE
MEETING: MAY 10, 2007.
** THE MOTION PASSED WITH THREE IN FAVOR (HEMPSTEAD, SUTTON, AND BRIGGS) AND
ONE ABSTENTION (STRANITI).
ADJOURNMENT
** MS. BRIGGS MOVED TO ADJOURN.
** THE MOTION PASSED UNANIMOUSLY.
The meeting adjourned at 8:35 p.m.
Respectfully submitted,
Sharon L. Soltes
Telesco Secretarial Services
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