By Sarah Opdahl

At the New Fairfield Board of Finance (BOF) meeting on Wednesday, October 29, there was a lengthy discussion about the Town’s expected surplus and whether the BOF would adhere to its policy to move 55% of an anticipated $184,000 surplus into the Medical Reserve Fund, which they ultimately voted for. After the $101,000 move for medical, the Board of Selectmen would like to put the remainder of the surplus funds toward the future need for an ambulance, all of which will need to go to a Town Meeting for final approval.

The BOF closed the review of potential new auditors to complete the annual town audit. Following a period of Request for Proposal (RFP), there were a few firms who expressed interest and two that actually submitted proposals. Though the subcommittee who oversaw the review of proposals was divided, they ultimately voted to recommend employing the same firm that the town has used in recent years, PKF O’Connor Davies (“PKF”).  While  the competing firm, King, King and Associates, came in with a lower overall cost, the anticipated costs for staff during the learning curve for the new firm outweighed the financial benefit for the majority of subcommittee members. Additionally, as PKF is a much larger firm, there are hopes that they will be less impacted by a CPA shortage that is complicating municipal audits.

When asked, it was explained that PKF will use AI in their work. They use a private enterprise version of ChatGPT for summarizing information, data analysis, reviewing agreements, technical research, proofreading reports, and all conclusions will rely on human professional judgment in which all AI output is reviewed and validated. The Town’s attorneys will review the usage in a new contract agreement.

Town Treasurer Ms. Terry Friedman responded to a discussion regarding potentially leasing municipal vehicles that was had at a recent BOF meeting. She explained that she “did some follow-up work after the last discussion that we had on leasing at our last meeting.” Looking at rates and potential bonding implications, she said, “I personally have a concern from the Town’s perspective on any types of leasing, particularly smaller equipment and vehicles…so my strong preference and recommendation is we do not go with this leasing approach. We continue doing what we’ve been doing in the past.” She went on to suppose, “should we, of course, have an issue with the fire engine or ladder truck or whatever, when the time comes to purchase it, we would have to address that. But as for now, just go along and continue to put money aside every year as we’ve been doing. Because I’m really concerned that we’re going to end up with another large payment base if we really start leasing.” There was an agreement that BOF member Mr. John Arizzi will serve as the new liaison for the fire department and conversations about vehicles and equipment will happen  with regular frequency.

The BOF agreed to suspend the current public comment policy and will instead develop guidelines for public comment. They will also enact a plan to limit the  duration of meetings to a reasonable length to avoid a scenario like the 8-hour meeting that was held a few years ago.

They also discussed the high medical claims that the Town is continuing to experience this fiscal year. The amounts can ebb and flow and July and August landed at over $700,000, but September was a lesser amount at just under $500,000. Town Finance Director Mr. Adam Lawrence is going to develop a new chart to better track medical claim information.

The next regular New Fairfield Board of Finance meeting is scheduled for Wednesday, November 18, 7:30 p.m.