By Sarah Opdahl

At the Wednesday, January 24 New Fairfield Board of Finance (BOF or Board) meeting, there were several lengthy discussions about a handful of topics. A bright spot was noted in the form of news that medical claims continue to remain under budget, which is a boost in the overall budget picture. There will be interesting conversations ahead as the BOF becomes immersed in the true budget season.

BOF Chair Mr. Wes Marsh and member Mr. Rick Regan prepared a deep dive into recent history and facts about medical claims and budgeting—from FY 2019-2020 to date—which will ideally help the Board to level set before entering the budget season, especially as it relates to the Medical Reserve Fund. The visuals presented depicted Anthem claims projections, what was budgeted for, and actual claims figures. The data presented gave unique insight into how the reserve grew and shrank in reaction to claim ebbs and flows.

Back-and-forth about this topic, and how it relates with the newly approved policy on funding the medical reserve, was positive, with acknowledgement that setting the medical budget number is remarkably nuanced. Ms. Jessica Sanchez used the above data to create percentages that analyzed the numbers covered by the budgeted amount over time, where Anthem accuracy was to the claims, and where the Town’s medical consultant USI  accuracy was to the claims. She said, “I think what we’ve done with the policy will protect us and yet not make us be as conservative as Anthem and USI…”

BOF members discussed a path to reviewing potential new auditors and, it was explained, that the Town will stay with the current auditor for at least one more year. Town Finance Director Mr. Adam Lawrence explained, given that he is still in his first year, it would be sensible to remain with the current auditor for the 2025/2026 FY audit, as they know the Town’s systems inside and out. A new auditor would look heavily to Lawrence and his staff throughout the process, while the seasoned auditors would be able to work more independently. Members are planning to research similar towns and gather thoughts on the auditors they use, while also reworking an in-progress Request for Proposal. They will prepare to go out to bid for potential firms closer to late spring or summer.

There was a frank discussion about the “lockbox account” which is a fund that holds fees associated with renting the Town’s boat slips. There is some disagreement about whether the fund should fully cover all maintenance and repairs of the docks and if the Public Works labor that is being applied to the docks is unfair to the taxpayers who do not use the docks. BOF member Mr. Jon Arizzi expressed the opinion that “There are 150 boat owners, and we shouldn’t be subsidizing the recreational endeavors of those boat owners.” First Selectman Ms. Pat Del Monaco and members of the Parks & Recreation Committee weighed in on the fees and the work, indicating that the current plan in place is working, plus noted that the accrued fees in the lockbox account are  needed for replacement pieces in the near future. For now, the BOF has asked for an itemized breakout for several years indicating the time Public Works has spent on the boat docks, plus the fee schedule and overall timeline.

BOF members agreed upon a small change to the Town’s debt policy, removing mention of specific current debt for a previous audit year. Town Treasurer Ms. Terry Friedman said, “My recommendation is that we just strike that whole phrase that is in parentheses. Otherwise, every year we are going to have the same discussion about the update.” There was also an agreement to have the auditors review the Town’s fraud policy, as Sanchez pointed out that it does have potential loopholes.

The next regular New Fairfield Board of Finance meeting is scheduled for Wednesday, February 25, 7:30 p.m.