Wednesday, February 6, 2008

Operating Budgets #3 - 1/31/2008

Part One: 54 min 59 sec

Description: This section was a presentation from the actuarial firm Hooker & Holcomb. Their analysis tells the town officials what they need to plan for in the way of retirement benefits. This involves recent state regulations, referred to as "GASB 45"--rhymes with "Gatsby" and stands for Government Accounting Standards Board. Basically towns have to invest funds in advance of employee retirements. That affects the budget and the taxes in the long run.

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Part Two: 1 hour 43 min 37 sec

This segment of the evening was devoted to the Woodbridge Board of Education: a PowerPoint presentation by Dr. Guy Stella followed by Q&A and discussion. After the room emptied, there was a brief update from BOF chair Matt Giglietti on the regional Amity Board of Education budget. A meeting of that board's Finance committee (which includes BOF members from each of the three member towns) was scheduled for 2/5. Those meetings are not videotaped.