Board of Finance

Phone

203-315-0678

 
Fax    
Mailing address 1019 Main Street, Branford CT 06405  
Meeting Location Canoe Brook Center  
E-Mail mkelly@branford-ct.gov  
Monthly Meeting 7:30pm Last Monday of month  
Chairman Joseph Mooney  

Current members of the Board of Finance are Joseph Mooney (chair), Victor Cassella, Kenneth Kaminsky, Charles Shelton, Jeffrey Vailette, and Kurt Schwanfelder.

     Branfordís Board of Finance consists of six electors of the town, which in turn chooses one of its members to serve as Chairman. The First Selectman is as an ex officio member of the Board (voting only in the case of tie), and the Town Clerk serves as the Clerk of the Board, keeping record of all votes passed and reporting to the Selectmen and Town Treasurer all appropriations and transfers.

      In March of each year, the Board conducts public hearings on the estimated town expenditures for the next fiscal year.  Notice is provided to each board or department of the town of the time and place of meeting to consider their individual needs.  After these public hearings, the Board considers the estimates as they were presented, as well as any other matters brought to its attention, and prepares a recommendation of the amount of money necessary to be appropriated for the expenses of the town for the ensuring fiscal year. That estimate includes the amount of revenue to be received during the ensuing year from all sources except from taxes to be raised on the grand list and contains an itemized list of the debts and obligations of the town. That estimate, with the recommendation of the Finance Board, is then submitted to the Representative Town Meeting (RTM) in April for its consideration and action. Following the RTM vote in early May, the Board sets the tax (mill) rate.

     The Board of Finance also has charge of the investment and control of all sinking funds, amortization funds, deposit funds and all other trust funds which have been placed in the hands of the Town. The Board (or its designee) keeps all the necessary books and records, which shall be open, during business hours, for the inspection of the Selectmen and Town Treasurer.

     The Town Treasurer has the custody of all cash, stocks, bonds and other property belonging to any of the funds and keeps the funds separate from all other funds and property of the Town of Branford, investing or disposing the funds only upon the written order of the Board. A special report of the condition and investment of each of the funds is published in the annual report of the Town of Branford.

 

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