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JUNE 9, 2005

ATTENDANCE: Bruce Kimmel, Chairman; Matt Miklave;

STAFF: Tom Hamilton, Finance Director; Frederic Gilden, Comptroller;
Lisa Biagiarelli, Tax Collector

CALL TO ORDER

Chairman Kimmel called the meeting to order at 8:05 p.m. He stated that a quorum was not present.

CLAIMS COMMITTEE: RECEIVE THE MONTHLY CLAIMS REPORT; REVIEW AND APPROVE CLAIMS AS REQUIRED FOR CLAIMS REPORT DATED:
JUNE 9, 2005

Ms. Biagarelli pointed out the Special Request for personal property in the amount of ($66,474.17) noting that the tax payer over reported and overpaid their taxes. Mr. Miklave stated that he would recluse himself from the discussion of the Monthly Claims Report.

Chairman Kimmel stated that he would send the Special Request to Common Council.

NARRATIVE ON TAX COLLECTIONS DATED JUNE 9, 2005 –
RECEIVE REPORT AND DISCUSS

MONTHLY TAX COLLECTOR’S REPORT DATED MAY 31, 2005 –
RECEIVE REPORT AND DISCUSS

Ms. Biagiarelli reported that things were great and the collection rate was 98.49% as of the end of May. She also stated that the tax sale was down to 40 properties and she hoped to be down to 20 properties before the sale date.

Chairman Kimmel stated that he would pass the information on to Common Council.

APPROVE INVESTMENT POLICY FOR ALL FUNDS ACCOUNTED FOR IN THE CITY’S ANNUAL FINANCIAL REPORT, WITH THE EXCEPTION OF THE CITY’S FOUR PENSION FUNDS AND SELF INSURANCE FUND, AND FUTURE OTHER POST EMPLOYMENT BENEFIT FUND.

Chairman Kimmel reported that an issue came up in the audit to have a policy on investments and management of funds. Mr. Hamilton stated that there was policy, but it was unwritten. Mr. Hamilton stated that that he was not recommending that this be approved by full Council and the Finance Department had the authority to adopt the policy. Mr. Miklave recommended that it was a good idea to look at the investment policy every two years.

Chairman Kimmel stated that this item would not be passed on to Common Council.

AUTHORIZE THE MAYOR, ALEX A. KNOPP, TO EXECUTE AN AGREEMENT
WITH THE CONNECTICUT INTERLOCAL RISK MANAGEMENT AGENCY
(CIRMA) TO PROVIDE WORKERS COMPENSATION TPA SERVICES FOR FY 2005-
06 AT A PER CLAIM COST OF $178 FOR MEDICAL-ONLY, $990 FOR INDEMNITY
AND HEART/HYPERTENSION, AND $23 FOR RECORD ONLY; FY2006-07 AT A PER
CLAIM COST OF $190 FOR MEDICAL ONLY, $1040 FOR INDEMNITY AND
HEART/HYPERTENSION, AND $24 FOR RECORD ONLY; FY 2007-08 AT A
PER CLAIM COST OF $200 FOR MEDICAL ONLY, $1,095 FOR INDEMNITY AND
HEART/HYPERTENSION, AND $25 FOR RECORD ONLY; AUTHORIZE THE
PAYMENT OF CHARGES FOR MANAGED CARE AND LOSS CONTROL
SERVICES; AND AUTHORIZE TWO ONE-YEAR EXTENSIONS AT TERMS TO BE
NEGOTIATED. ACCOUNT #169030-5298.

Mr. Hamilton reported that Third Party Administration (TPA) services for its self-insured
workers’ compensation program was provided by CIRMA since 1998. He stated that
CIRMA now covers 85% of municipalities in the State and he was happy with their service
and the way they handled workers’ compensation claims. He reported that the City recently
issued RFP’s, in good practice, for TPA and received six proposals back. He noted that
three of the highest ranked vendors were interviewed by the Selection Committee and that after
considering the capabilities, performance and price proposals of each vendor, the Committee and
he recommended that the City continue to retain CIRMA and enter into a three-year contract
with two one-year option years. He stated that CIRMA had the edge because of their knowledge
of the Connecticult marketplace and the Risk Manager felt that the medical care network with
CIRMA was better than the others. He continued that the Public Works Department and Police
and Fire Department representatives all had a comfort level with CIRMA and felt that they were
doing a good job and it would be a downside to switch. He stated the prices of the three
proposals were comparable, with CIRMA being the lowest at a projected cost of $154,725 for
FY 2005-06. Mr. Hamilton noted that CIRMA has committed to online access to their system by
1/06.

Chairman Kimmel stated he would forward to the Common Council the authorization for the
Mayor, Alex A. Knopp, to execute an agreement with The Connecticut Interlocal Risk
Management Agency (CIRMA) to provide Workers Compensation TPA Services for FY 2005-
06 at a per claim cost of $178 for medical-only, $990 for indemnity and heart/hypertension, and
$23 for record only; FY2006-07 at a per claim cost of $190 for medical only, $1040 for
indemnity and heart/hypertension, and $24 for record only; FY 2007-08 at a per claim cost of
$200 for medical only, $1,095 for indemnity and heart/hypertension, and $25 for record only;
authorize the payment of charges for managed care and loss control services; and authorize two
one-year extensions at terms to be negotiated. Account #169030-5298.

AUTHORIZE THE MAYOR, ALEX A. KNOPP, TO EXECUTE GENERAL LIABILITY INSURANCE PLACEMENTS FOR THE FY2005-06 FISCAL YEAR WITH THE CONNECTICUT INTERLOCAL RISK MANAGEMENT AGENCY (CIRMA) FOR AN AMOUNT NOT-TO-EXCEED $560,135. ACCOUNT #268510-5418.

AUTHORIZE THE MAYOR, ALEX A. KNOPP, TO EXECUTE PROPERTY INSURANCE PLACEMENT FOR THE FY-2005-06 FISCAL YEAR WITH THE HD SEGUR INSURANCE AGENCY IN AN AMOUNT NOT-TO-EXCEED $205,139. ACCOUNT #168510-5418.

Mr. Hamilton stated that the City recently issued RFQ’s for insurance brokerage services to go out on the City’s behalf to obtain property and general liability insurance. He reported that three brokers, HD Segur, Marshall and Sterling, Webster Insurance, were assigned markets and in addition, the City entertained a proposal from CIRMA, which is a direct market the City can access without the assistance of a broker. He stated that Webster Insurance declined to offer a price proposal.

Mr. Hamilton reported that the Risk Manager and he recommended that the City award the proposal from CIRMA for Liability and Automobile coverage, and the proposal from HD Segur for the Property coverage. He stated that CIRMA will provide comprehensive insurance coverage for general liability at $560,135, which was the lowest price of the three proposals received. With respect to property insurance, Mr. Hamilton stated that HD Segur’s proposal also was the lowest of the three proposals submitted at a cost of $205,139.

Chairman Kimmel stated he would forward to the Common Council the authorization for the Mayor, Alex A. Knopp, to execute General Liability insurance placements for the FY2005-06 fiscal year with the Connecticut Interlocal Risk Management Agency (CIRMA) for an amount not-to-exceed $560,135. Account #268510-5418 and the authorization for the Mayor, Alex A. Knopp, to execute Property Insurance placement for the FY2005-06 fiscal year with the HD Segur Insurance Agency in an amount not-to-exceed $205,139. Account #168510-5418.

AUTHORIZE THE MAYOR, ALEX A. KNOPP, TO EXECUTE CONTRACT CHANGES WITH THE HD SEGUR INSURANCE AGENCY RELATIVE TO PROPERTY INSURANCE PLACEMENT IN THE AMOUNT NOT-TO-EXCEED $30,771 (15% OF CONTRACT TOTAL). ACCOUNT #168510-5418.

Mr. Hamilton explained that since several new buildings would be brought on line during the FY 2005-2006, he was also requesting authorization for a 15% contract change limit with HD Segur.
Chairman Kimmel stated that he would send this on to Council.

Chairman Kimmel then reiterated that he would send agenda items 5 through 8 to Common Council.

APPROVE THE MINUTES OF THE FOLLOWING FINANCE COMMITTEE MEETING: MAY 12, 2005.

This item was not discussed.

Chairman Kimmel adjourned the meeting at 8:35 p.m.

Respectfully submitted,
Donna DeVito
Telesco Secretarial Services