Town of Charlton

Saratoga County

Town Board Special Meeting

July 26, 2007

2:00pm

Meeting with Financial Consultant

The Special meeting of the Town Board of Charlton, Saratoga County, New York held at 2:00pm at Town Hall 784 Charlton Road, Charlton, NY 12019 called to order by Supervisor Grattidge.

Present:  Supervisor Grattidge, Councilman Lippiello, Councilman Gardner, Councilman Salisbury, Councilman Verola and Town Clerk Heather Scribner

Others Present:  Kathy Hanley, Secretary to the Supervisor and Financial Consultant Robert Fisher.

Supervisor Grattidge asked that the Town Clerk include in the minutes brief summary of the meeting.  The special meetings do not need to be verbatim.

Mr. Fisher gave a six month over view of the town’s finances. He distributed a copy of the trial balance report to the Town Board.

Mr. Fisher stated that the main item that needs watching is with the general fund, which is being dealt with on a regular basis.  This would result in taking a look at the 2008 general fund budget and making sure all resources are put into the budget and that they are realistic including the available fund balance.  The Capitol Project took much of the fund balance.  Mr. Fisher gave suggestions to the Town Board and recommended that Town Board watch closely for any additional legal costs throughout the Capital Project.

Supervisor Grattidge commented on the revenue sales.  Supervisor Grattidge stated that the town received additional revenues of $96,000.00 from the Saratoga County.  Everything looks good on the revenue side.

Mr. Fisher asked Town Board to consider what services they would need through the budget process.  Mr. Fisher stated that he know longer needs an entire day to spend with Kathy Hanley on bookkeeping.  The next process would be the 2008 budget.   Mr. Fisher gave an overview of the budget process.  Supervisor Grattidge stated that a notice for budget requests will be sent out late August to all departments.

Mr. Fisher stated that the .2 account Capital Outlay should be reevaluated.  The account should only include Fixed Assets.  Mr. Fisher suggests setting the fixed assets at $1,000.00 for the first year.  The Town Board agreed.

The Town Board discussed manual handwritten checks and the need for a second abstract.  Mr. Fisher stated that when a manual check is written it is currently added to the abstract giving a date of the Town Board Meeting.  When it is time to reconcile the bank statement it is difficult because sometimes a check is written in one month and the abstract date is in another.  Mr. Fisher stated that the seconded abstract would be prepared by Kathy Hanley.  The vouchers are made out by her and it would come out of one office.  Councilman Verola was concerned with the checks and balances process.  Supervisor Grattidge suggested that the process be tried out for a few months and see how it works.  Town Clerk Heather Scribner stated that she would like the Town Board to approve the authorization for someone else to prepare the second abstract.  Supervisor Grattidge stated to run the process by for a few months to see how it works.

Councilman Verola stated that she would like to see a few fund accounts broken down better.  For example Park Fees and Escrows giving them their own account rather than commingled with other items.  It is difficult to quickly point out what the balances are.

Supervisor Grattidge stated that Tec II cancelled for today’s meeting to discuss the phone system for the New Town Hall Project.

Supervisor Grattidge stated that unfortunately he would have to leave the meeting.

The meeting was adjourned at 3:30pm.

Respectfully Submitted,

Heather Scribner, Town Clerk