Board of Finance Public Hearing May 16, 2017

Board of Finance Public Hearing May 16, 2017

Simsbury can no longer ignore the critical financial indicators of the State. Simsbury is dependent on millions of dollars from the State that may not be forthcoming. We can no longer put our head in the sand and use Bonding and the General Fund to solve a long-term institutional financial crises.

The State of Connecticut is facing a perfect storm. There is a serious financial crisis in the State of Connecticut while the City of Hartford might file for bankruptcy. All their financial crises will have a trickledown effect on Simsbury’s financial outlook.

Simsbury has always overtaxed the residents and has increased the General Fund. However, with a uncertain financial outlook we can longer deplete our rainy day fund for operating expenses and Capital expenditures. The Board of Finance has increased the money in the Capital Non-Recurring Fund for repayment of expenditures, increasing the operating expenditures for a 5 year repayment.

Many of the Capital Expenditures are below the action level for a Referendum, leaving control to a Board of Finance vote with payment by the taxpayers. The Board of Finance should continually evaluate whether these projects are for safety or maintenance and approve projects for need not for political expediency. You are the gatekeepers not the tooth fairy.

The Capital expenditures for a $5.8 million budget for a Senior Center that has no consensus from the seniors that will increase taxes for at least 10 years should be eliminated.

The Board of Education has a $22.825 million expenditure for a renovation to Middle School with the Prowda Report showing a one thousand reduction of students over the years. This project should be eliminated.

Using a slush fund from the non-lapsing account by the Board of Education should be eliminated and excess money should be returned to the General Fund from the Capital expenditures. It is the taxpayers who should have the decision on the allocation of this money, not the Board of Education.

With a billion dollar deficit facing the State, Simsbury will be asked to be part of the solution to their budget crises with millions of dollars no longer allocated to the town. There is a bleak forecast for the future of the State with businesses and residents leaving the State, we can only surmise that this deficit will be a multi-year loss.

The Performing Arts contract should be renegotiated for the town to collect more revenue for the use of the taxpayers land.

With all the private schools and their assets in Simsbury exempt from paying taxes, using the town resources for free should be changed through a regional effort to change the rules. A tax exempt entity should be required to accept their responsibility and pay to play.

The Board of Finance must take a draconian step to take care of Simsbury’s financial future by providing basic needs to the taxpayers and the students. Since much of the budgets are determined by employees, it is time that they share the pain by reducing salaries to absorb some of the losses from the State.

All of us must share the pain and the Board of Finance must demand both boards reduce all budgets to absorb millions of dollars in lost revenues. You can no longer enable a tax and spend mentality. Do your job!