Board of Finance Regular Meeting Agenda (linked)

FIFTEEN ROPE FERRY ROAD PHONE: 860-442-0553
WATERFORD, CT 06385-2886 www.waterfordct.org
BOARD OF FINANCE | ~
AGENDA 7 ee
Waterford Town Hall February 10, 2021 a
Zoom Meeting 7:00 p.m.
Topic: Board of Finance Meeting
Time: Feb 10, 2021 07:00 PM Eastern Time (US and Canada)
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1. Establishment of a quorum and call to order.
2. Public Comment.
3. Approval and acceptance of minutes:
a. Revised Meeting Minutes from January 13, 2021
4. To consider and act on a request from Brett Mahoney, Chief of Police, to request an
additional appropriation of $16,566 to purchase a generator for the regional police boat.
This bid was through appropriate Town of Waterford Controls, bid #20-114 to Crocker’s
Boat Yard of New London for line #10129-53220.
5. To consider and act on a request from Brett Mahoney, Chief of Police, to request an
additional appropriation of $33,639 to pay the remaining portion of the Police
Department Records Management Software to Central Square Technologies.

Board of Finance Regular Agenda, February 10, 2021
Page 2
6. To consider and act on a transfer request from Gary Schneider, Public Works Director, for
an FY21 second quarter, Out of Series Transfer as follows:
Account | Description Approved | Current Account Account Revised
Budget Available | Increase Decrease Available
Amount Budget Budget
Amount Amount
10130- | Professional 90,000.00 | (1,365.82) | 5,000.00 3,634.18
52030 Fees
10130- | Highway 235,000.00 | 174,830.14 (5,000.00) 169,830.14
53300 Materials
Total 5,000.00 | (5,000.00)
7. Toconsider and act on a request from Abby Piersall, Planning Director, to appropriate
$50,000 in Designated Funds from FY21 Capital and Non-Recurring Expenditure Fund line
#20511-57857 Civic Triangle Upgrades.
8. Toconsider and act on a transfer request from Christine Johnson, Library Director, for an
Out of-Series Transfer as follows:
Account | Description Approved | Current Account Account Revised
Budget Available | Increase Decrease Available
Amount Budget Budget
Amount Amount
10136- | Administration | 112,435.00 | (7,306.84) | 44,470.75 37,163.91
51110
10121- | Contingency 265,000.00 | 187,956.00 (44,470.75) | 143,485.25
59010 Total 44,470.25 | (44,470.75)
9. To consider and act on a transfer request from Dani Gorman, Youth & Family Services
Director, for an Out-of-Series Transfer as follows:
Account | Description Approved | Current Account Account Revised
Budget Available | Increase Decrease Available
Amount Budget Budget
Amount Amount
10119- | Overtime 0.00 (114.78) 1,000.00 885,22
51810
10119- | Professional 22,000.00 | 12,462.20 (1,000.00) 11,462.20
52030 FeesTotal 1,000.00 (1,000.00)

Board of Finance Regular Agenda, February 10, 2021
Page 3
10. Old Business:
11. New Business:
a. John Sheehan — Questions and Comments on the FY2020 Audit Report.
b. Paige Walton, Assessor — 2020 Grand List Results.
12. Liaison Reports
13. Correspondence
a. Vanessa Rossitto, CPA, CLA (CliftonLarsonAllen LLP), a quote for providing services
to the Town of Waterford for fiscal years ending in 2021 and 2022.
b. Joyce Sauchuk, Director of Human Resources, Town of Waterford, General
Government Staffing Plan.
c. Virginia Bielucki, Town Accountant, Periodic Financial Statements dated January
12, 2021.
d. Virginia Bielucki, Town Accountant, Status of General Fund Unassigned Balance
dated January 14, 2021.
e. Virginia Bielucki, Town Accountant, Status of Contingency Fiscal Year 2021 dated
January 21, 2021.
14, Adjournment
Ronald Fedor, Chairman

WATERFORD POLICE DEPARTMENT
41 AVERY LANE
WATERFORD, CT 06385-2819
Brett Mahoney (860) 442-9451 TEL
Chief of Police bmahoney@waterfordct.org
January 6th, 2021
Mr. Rob Brule, First Selectman
Town of Waterford
15 Rope Ferry Road
Waterford, CT 06385
First Selectman Brule;
The Police Department requests an additional appropriation of $16,566.00 to purchase a
generator for the regional police boat, which was voted upon and approved at the
01/06/2021 Board of Selectmen meeting. This purchase was bid through appropriate
Town of Waterford controls, bid # 20-114 to Crocker’s Boatyard of New London.
If this is acceptable, please have the Finance Department place the money in line item
10129-53220 for payment.
Respectfully submitted,
“Brett Mahoney
Chief of Police
www.waterfordpolice.org

FINANCE DEPARTMENT
Viemo
To: The Board of Selectmen
From: Rawle Dummett
Date: December 10, 2020
Re: Bid Award- Bid#20-114 Supply and Install Generator on marine Patrol Boat
Dear Mr. Brule:
Bid Proposals for the above mentioned bid were opened on December 10, 2020 at
10:00 AM by Maryellen McConnell, Linda Geer, Set. Jon Pettigrew and I with the
attached results. After careful analysis of the submissions, I recommend that Crocker’s
Boatyard Inc. be awarded the contract to supply these items in the amount of
$16,566.00, pending the approval of a request for an additional appropriation.
Rawle Dummett ae
Purchasing Agent,
Town of Waterford

Rawle Dummett
|
From: Jonathan Pettigrew
Sent: Thursday, December 10, 2020 2:23 PM
To: Rawle Dummett
Cec: Brett Mahoney; Mare Balestracci
Subject: Town of Waterford Bid #20-114 New Generator for Regional. Marine patrol boat
Rawle,
‘ Upon review of the two bids received this morning, my recommendation would be to accept the bid of $16,556.00 from
Crocker’s Boatyard INC. ,
Thank you,
Sergeant Jonathan R. Pettigrew #19

‘
i
l
ti
\ Rawle Dummett
From: Brett Mahoney
Sent: Thursday, December 10, 2020 2:22 PM
To: Cindy Dupointe
Cc: Robert Brule; Rawle Dummett; Kimberly Allen
Subject: Boat generator bid
Hello -
The police boat has issues with the generator and the boat deck, both of which we have worked with the Finance
Department on. The boat deck was damaged due the Waterford/East Lyme bridge construction, the generator stopped
working and needs to be replaced. Can we please get the generator’s bid and request for acceptance on the next Board
of Selectman’s meeting agenda, Rawle has the backup and both quotes that were received. The boat deck will be
repaired when the boat is taken out of the water to replace the generator, so that only one charge for hauling the boat
is paid for. FYI, the boat deck repair is paid for by insurance, Finance has given us the “go-ahead” to move forward with
those repairs.
if you have any questions please let me know.
Brett
Waterford Police Department
'$60-442-9451x 2301

FIFTEEN ROPE FERRY ROAD WATERFORD, CT 06385-2886
BID FORM
BID #20-114
INSTALL NEW GENERATOR FOR REGIONAL MARINE PATROL BOAT
Crocker's Boatyard Inc. 56 Howard Street New London, CT 06320
VENDOR NAME AND ADDRESS
David W Crocker Vice President/ Treasurer
PRINTED NAME AND TITLE OF VENDOR’S AGENT
860-443-6304, Fax 860-443-0279 crockerd64@gmail.com
PHONE AND FACSIMILE NUMBERS, E-IMAIL ADDRESS
, David W Crocker, 
Vice President/ Treasurer
Name Position
of the above named firm hereby submit the following bid in accordance with Town of Waterford specifications.
RLM LZ ls 4 Ls O
SELF. ——sewature DATE
LINE | Part Number MFG Description Qty Unit Price Ext Price
$15,316.00 $15,316.00
Westerbeke 7.5 MCGA -7.5kW
Marine Generator, 120/240 Volts,
i WESTERBEKE | 13.2 HP, 3.Cylinder, 4 Cycle 1
Boat Haul out, Generator $1,250.00 $1,250.00
Installation and subsequent
2 | LABOR launch
TOTAL BID PRICE $16,566.00
EXPIRATION OF BID 1/7/2021

STATEMENT OF QUALIFICATIONS: The consultant shall provide a brief statement as to their qualifications
please include all participating partners on this project. Please attach qualification sheets to the Bid Form.
COMMENTS:

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WATERFORD POLICE DEPARTMENT
41 AVERY LANE
WATERFORD, CT 06385-2819
Brett Mahoney (860) 442-9451 TEL
Chief of Police bmahoney@waterfordctorg
1/26/2021
Rob Brule
First Selectman
Town of Waterford
15 Rope Ferry Road
Waterford, Connecticut
06385
First Selectman Brule —
The Waterford Police Department started an upgrade to our records management platform during
retired Chief Pendleton’s tenure, the money was requested in 2014. The project has not gone well, and |
have held money from the company until they fulfilled their contract. As the company has finally
finished what they needed to, | went to authorize the remaining money owed to the vendor (purchased
under “Tritech,” then bought out by “Central Square”) and found that the line item had been closed by
interim Finance Director Savitsky in the 2017 budget.
The Town of Waterford owes the remaining portion of the Police Department Records Management
Software to Central Square Technologies in the amount of $33,639.00. | respectfully request that an
additional appropriation be made in this amount to pay Central Square Technologies for their services
rendered.
Should you have any questions, | am always available to answer.
Regards,
aw .
Brett Mahoney
Chief of Police
Waterford Police Department

ee I
<> Invoice ce
CENTRALSOUARE Invoice No Date Page |
TECHNOLOBIES 250683 9/9/2019 1 of 1 |
Tritech Software Systems, a CentralSquare Company —
1000 Business Center Drive
Lake Mary, FL 32746
Billing Inquiries: Accounts.Receivable@centralsquare:com
Bill To 
Ship To
Waterford Public Safety Office Waterford Public Safety Office
824 Hartford Turnpike 824 Hartford Turnpike
Waterford CT 06385 Waterford CT 06385
United States United States
| Customer No Customer Name Customer PO # Currency Terms Due Date |
| 16460 Waterford Public Safety, CT USD Net 30 10/9/2019
Description Units. Rate Extended
Contract No. P6589
1 Payment Milestone - TCR 05 - 100% Support Maintenance - 1 $3,447.00 $3,447.00
6589
2 Payment Milestone - TCR 05.- CO-4266 - SO 6589 4 $1,620.00. $1,620;00
3 Payment Milestone - TCR 05 - 50% of SW, Services, Support 4 $28,572.00 $28,572.00
due on Installation or completion of Svcs - 6589
Please include invoice number(s) on your remittance. advice, Subtotal $33,639.00
made payable to Tritech Software Systems
Tax $0.00
ACH:
Routing Number 121000358 .
Account Number 1416612641 Invoice Total $33,639.00
E-mail payment details to: Accounts.Receivable@CentralSquare.com
Payments Applied $0.00
Check:
12709 Collection Center Drive
Chicago, IL 60693 Balance Due $33,639.00

PUBLIC WORKS
DEPARTMENT
Line No. Org. Code
Object Code
TOWN OF WATERFORD
TRANSFER REQUEST FORM
Out of Series Transfer Request
APPROVED CURRENT ACCOUNT
Budget Available INCREASE
Object Description Amount Budget
ACCOUNT
_DE S
2ND QUARTER
REVISED
Available
Budget
=
10130
52030
PROFESSIONAL FEES 90,000.00 (1,365.82) 5,000.00
3,634.18
10130
53300
HIGHWAY MATERIALS 235,000.00 174,830.14
(5,000.00)
169,830.14
0.00
0.00
0.00
0.00
0.00
0.00
on IN IO [an ja [ww [dy
0.00
2
o
0,00
9.00
0.00
Explanation
A purchase order was closed for a signed contract to finish the design work for the Cooperative Project for sidewalks on Rope Ferry Road.
TOTAL 5,000.00
(5,000.00)
Gary Schneider
Department Head
Kim Allen
Director of Finance
Bos
First Selectman
Commission/Board Approval
12/28/2020
Date
1/4/2021
Date
ECIEY
Date ‘
Date
revised 9/9/20

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FIFTEEN ROPE FERRY ROAD WATERFORD, CT 06385-2886
DEPARTMENT OF PLANNING AND DEVELOPMENT
MEMORANDUM
TO: Rob Brule, First Selectman
FROM: Abby Y. Piersall, AICP, Planning Director
DATE: January 27, 2021
TITLE: Request to appropriate $50,000 in Designated Funds from FY21 Capital and Non-Recurring
Expenditure Fund line 20511-57857 (Civic Triangle Upgrades).
This request is to appropriate the $50,000 designated in the FY21 Capital Budget for Civic Triangle
improvements. The FY21 request for Capita! funding prioritized construction of a boardwalk along the
east side of the Duck Pond. This appropriation would fund design and permitting services for pedestrian
improvements including an accessible boardwalk and paths to create a complete walkway around the
pond and connecting to the gazebo and playground area, Library, sidewalk on Rope Ferry Road, and
nearby wooded paths. A draft RFP for consulting services is attached.
Appropriating furids for design and permitting is the first and necessary step toward building pedestrian
improvements. As part of this phase of the project, the Town will work with the selected consultant to
develop construction documents and cost estimates. This information will become the basis for funding
construction. Should the design, permitting, and construction services fees amount to less than $50,000,
the remaining funds in this appropriation would be spent on signage and landscaping projects around the
pond. Projects may include pollinator gardens, pond edge planting to deter geese, or similar projects.
The image on the left shows
the area along the edge of the
pond where a_ boardwalk
would be designed. The
selected consultant would also
design connecting paths and
upgrades to the bridges around
the pond (right) to improve
accessibility.
Civic Triangle Pedestrian Improvements Appropriation Request

Town of Waterford
RFP for Town Center
Park Improvements:
Pond, Boardwalk, and
Trails.
1/27/2021

RFP for Town Center Park Improvements: Duck Pond Boardwalk and Trails
Project Description
Project Name: RFP for Town Center Park Improvements: Pond, Boardwalk, and Trails
Project Location: Town of Waterford
Town Center Pond and Park
184 Boston Post Road (Pond Area abuts Rope Ferry Road)
Waterford, CT 06385
Project Contact: Rawle Dummett ;
Town of Waterford Purchasing Agent 2s
rdummett@waterfordct.org
(860) 444-5842
The Town of Waterford requests proposals fra
engineering firms to provide design services for: :
the Pond in the Town Center Civic Tri
nearby playground, trails, and public’rs
around the east side of the pond, repla
renderings depi alignment and aesthetic of the project will be required. A
minimum of two vi tual meetings with the Waterford Recreation and Parks Commission
will be required during this phase, in addition to meetings with Town staff. Public
outreach and opportunities to provide feedback on the design that can be conducted via
online platforms is required during this phase.
The following is a list of desired project elements:
e An 8-10 foot wide boardwalk along the east side of the pond. The use of sustainable
building materials is desired.
2|

RFP for Town Center Park Improvements: Duck Pond Boardwalk and Trails
e An 8-10 foot path circling the pond and connecting to the boardwalk, adjacent
playground, and public restrooms.
e Integrate the design with future site projects, such as native and pollinator gardens,
benches, trailhead improvements, signage, and connectivity to town facilities and
trails in the area.
e Identify locations for signage elements including interpretation and directional
signage.
e Design trail and boardwalk lighting and placement of future video cameras/site
security features. co
e Provide universal accessibility for the board\
e Use materials and equipment that are com
cost-effective, and require minimal ro,
d should integrate
e Designs should complement and ex é natural resource:
into the landscape.
Add Alternates:
Add Alternate 1: Prepare final gn, nvironmental permits, and
ement services.
related engines if services. Sub consultants must be identified in the proposal.
e Develop renderi gs to illustrate the proposed design.
e Perform any necessary soils testing to support final design and construction.
e Identify all permits that are required, prepare and submit applications on behalf of
the Town, and attend meetings of local Boards and Commissions as necessary to
obtain all required permits to construct improvements. For the purpose of the
proposal, please provide a per-meeting cost and the base cost to attend up to four
virtual meetings. These meetings are in addition to meetings and discussions with
Town staff.
3

RFP for Town Center Park Improvements: Duck Pond Boardwalk and Trails
® Identify necessary coordination with utilities.
¢ Compile data (wetlands, streams, buffers, ROW information) and collect survey and
spot elevations as necessary for preliminary and final design.
e Prepare construction plans and specifications for review and approval by the Town.
e Provide bidding services including preparation of bid documents, tabulating bids,
reviewing bids, and recommending a preferred contractor.
e Provide customary construction phase services on an as-needed basis such as shop
drawing review and approval, contract administratien, applications for payment, RFI,
attending project meetings.

TOWN OF WATERFORD
TRANSFER REQUEST FORM
Out of Series Transfer Request
Library
DEPARTMENT
APPROVED CURRENT ACCOUNT ACCOUNT REVISED
; Budget Budget NCREASE DECREASE - Budget
Line No. Org. Code Object Code Object Description Amount Amount Amount
1 10136 51110 Administration 112,435.00 {7,306.84} 44,470.75 37,163.91
2 10121 59010 Contingency 265,000.00 187,956.00 (44,470.75) 143,485.25
3 0.00
4 0.00
5 0.00
6 0.00
7 0.00
8 0.00
9 0.00
10 0.00
0.00
0.00
TOTAL 44,470.75 (44,470.75)
Explanation
Due to the retirement of the previous Library Director, our Administration line is currently overspent by $5,481.13. Anticipated future expenditures for the
remainder of this fiscal year are $38,989.62. We recently made an in-series transfer from our Clerical & Technical Account (51210) of $20,097.20 to bring
the account current for the end of the calendar year. However, our existing budget lines will not be able to fund the remainder of these unbudgeted expenditures,
therefore we are requesting a transfer of $44,470.75 to balance the Administration account.
Christine Johnson
Department Head
Kim Allen
Director of Finance
Bas
First Selectman
Commission/Board Approval
1/25/2021
Date
1/27/2021
La. f2
Date
Date
revised 8/13/20

TOWN OF WATERFORD
Out of Series Transfer Request
Library
DEPARTMENT
APPROVED CURRENT ACCOUNT ACCOUNT REVISED
Budget Budget INCREASE f2DECREASE’: Budget
Line Ne. Org. Cove Object Code Object Description Amount Amount Amount
1 10136 $1110 Administration 112,435.00 (5,481.13 44,470.75 38,989.62
2 10121 59010 Contingency 265,000.00 44,470.75 44,470.75
3 0.00
4 0.00
5 0.00
8 0.00
7 0.00
8 0.00
9 0.00
40 0.00
0.00
0.00
TOTAL 44,470.75 44,470.75
Explanation
Due to the retirement of the previous Library Director, our Administration line is currently overspont by $5,481.13. Anticipated future expendiiures for the
remainder of this fiscal year are $38,989.62. We recently made an in-serles transfer from our Clerical & Technical Account (51210) of $20,097.20 to bring
the account current for the end of the calendar year. However, our existing budget lines will not be able to fund the remainder of these unbudgeted expenditures,
therefore we are requesting a transfer of $44,470.75 to balance the Administration account.
Chum m—
Department Head ¢
‘Director of Finance
First Selectman
Commiselon/Board Approval
1-25-Rda}
‘Dats Date
Date Date
Bate “Bate
‘Date Date
revised 8/13/20

‘@ public library
Discovery begins here.
Memo
To: Kim Allen, Finance Director
From: Chris Johnson, Library Director
cc: Gail Miller, Library Secretary
Date: January 25, 2021
Re: Out of Series Contingency Budget Transfer Request
Per my recent email, and our follow-up phone conversation, | am attaching an Out of Series
Transfer Request in the amount of $44,470.75 from the Town’s Contingency Account (10121-
59010) to balance our Library Administration account (10136-51110).
Because of the unbudgeted expenses of $87,239.88 charged against this line on November 27
due to the retirement of the previous Director, this account was overspent by $20,097.20 by
the end of the calendar year. The library made an In Series transfer of $20,097.20 from our
Clerical and Technical budget line (10136-51210) that was approved by the Board of Selectmen
at the January 5 meeting.
However, our existing budget lines are not able to cover the anticipated amount of $44,470.75
that will be needed to bring the account into balance for the remainder of this fiscal year. This
request is calculated as follows:
Current Account Balance | $ (5,481.13)
Anticipated Salary
Weeks 5-27 | $ (38,933.62)
Foley Background Check | $ (56.00)
Total Under-budgeted | $ (44,470.75)
| do not know what the current balance is in the Town’s Contingency Fund, so | did not
complete that box on the attached Out of Series Transfer request.
Thank you for your assistance with this request and please advise if any additional information
is needed.

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Youth & Family Services
DEPARTMENT
Line No. Org. Code
Object Code
TOWN OF WATERFORD
TRANSFER REQUEST FORM
Out of Series Transfer Request
Object Description
APPROVED CURRENT ACCOUNT
Budget Available | INCREASE
Amount Budget
REVISED.
Available
Budget
1 10119
51810
OVERTIME
0,00 (114.78) 1,000.00
885.22
10119
52030
PROFESSIONAL FEES
22,000.00 12,462.20
(1,000.00)
11,462.20
0.00
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0.00
0.00
0.00
0.00
Oo oO I~ (RO Ia fe fo in
9.00
=
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0.00
0.00
9.00
Expfanation
TOTAL 1,000.00
Demand for services has increased so much that the clerk has had to work overtime thus resulting in a shortage.
(1,000.00)
We also have reduced our fees and increased state funding to offset the costs for mental health services.
Dani Gorman
Department Head
Kim Allen
Director of Finance
“BOS
First Selectman
Commission/Board Approval
1/19/2021
Date
1/20/2021
242/04
Date
Date
revised 9/9/20

TOWN OF WATERFORD
Out of Series Transfer Request
10119
DEPARTMENT
APPROVED = AGCOUNT REVISED
Budget | {NGREASE — Budget
Line No. Org. Code Object Code Object Description Amount Amount
1 10119 51810] Overtime 0.00 1,000.00 1,000.00
2 10119 52030|Professional Fees 22,000.00 1,000,00 21,000.00
3 0.00
4 0.00
5 0.00
6 0.00
7 0.00
8 0.00
9 0.00
16 0.00
0.00
0.00
TOTAL 1,000.00 1,000.00
Explanation
Demand for services has increased so much that the clerk has had to work overtime thus resluting in a shortage.
We also have reduced our fees and increased state funding to offset the costs for mental health services.
Dani Gorman
Department Head
Director of Finance
First Selectman
Commission/Board Approval
1/19/2021
Date
Date
Date
Date
revised 7/20/21

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Questions and Comments on FY2020 Audit Report
State and Federal Special Report Letters
1.
2.
3.
4,
5.
Total Federal revenues = $1,716,656 in FY2020 up from $1,399,839 in FY2019
which was down from $2,588,876 in FY2018 which was up from $1,476,481 in
FY2017 which was down from $1,850,874 in FY2016 — down from $2,139,308 in
FY2015.
The largest Federal award was the Special Education IDEA grants totaling
$586,337.
No deficiencies were noted in the Federal Single Audit Report
Total State revenues = $1,848,603 down from $2,446,421 in FY2020 down
slightly from $2,489,647 in FY2018 which was down from $4,830,177 in FY2017
and down from $3,957,188 in FY2016 which was, down from $4,605,398 in
FY2015 (-$648,210). Increase in FY2017 was in School Construction Grants.
No Findings or Questioned Costs found in the State Single Audit Report
Comprehensive Financial Report
1.
lo
Cover notes that, like the FY2019 Report, the FY2020 Report is a Comprehensive
Annual Financial Report (CAFR) unlike the FY2018 report, which like the
FY2017Audit Report is just the Annual Financial Report, not a Comprehensive
Annual Financial Report (CAFR). I prefer the CAFAR because the additional
statistical information is very useful.
Short summary of Waterford Government that preceded listing of Principal Town
Officials in prior CAFRS is after the listing of Principal Town Officials. It did
not appear in FY2018 Audit Report. It was also not in the FY2017 or FY2016
Audit reports. It had been in previous Audit reports.
Excellent summary of Economic Activity in Town on Pages vi-vii.
The paragraph on Long Term Financial Planning needs to be corrected to include
the fact that the RTM formed a Planning Committee that superseded the BOF
Committee in CY 2013 (October 7, 2013 RTM meeting). Same comment was in
the Review of the FY2019 report
Why does the GASB 54 narrative discuss the FY2019 Unassigned Fund Balance
of $16,781,193 rather than the FY2020 Unassigned Fund Balance of
$18,963,143? The FY2019 report also referred to the FY2018 unassigned Fund
Balance of $13,979,558. Page viii
The Auditor’s report explained how they conducted the Audit of the Financial
Statements provided by the Town noting what they reviewed and what they did
not review. Pages 1-3.
IN FY2020 the Town’s net position decreased by 0.6% or $894 thousand and
business activities decreased by 2.9% or $1.6 million. In FY2019 the Town’s net
position decreased by 0.8% or $1.4 million and the business activities decreased
by 2.2% or $1.3 million. Town’s net assets as restated due to GASB 75 increased
by 1.4% in FY2018 compared to the increase in FY2017 of 1.7% compared to the
decrease of 3.42% in FY16. Expenses in FY2020 were $894 thousand more than
the $111.4 million generated in taxes and other revenue. Expenses in FY2019
were $1.4 million more than the $102.6 million generated in tax and other
Page 1

10.
11
13.
revenues compared to FY2018 expenses that were $2.1 million less than the
$106.9 million generated in tax and other revenues. In FY2017 expenses were
$2.7 million less than generated revenues compared to expenses $5.8 million
more than generated revenues in FY2016. This compares to an increase in FY15
when expenses were $1.0 million less than generated revenues. Resources
available for appropriation in FY2020 were $1.5 million more than anticipated
compared to FY2019 resources available for appropriation compared to $2.7
million more than anticipated compared to resources in FY2018 that were $823.4
thousand more than anticipated. Resources available for appropriation were $1.2
million more than anticipated in FY2017 compared to being $505 thousand more
than anticipated in FY16. This compares to FY15 when resources were $2.5
million less than anticipated for the general fund. Page 4
Due to the managed spending by department heads and the impact of the COVID-
19 shut down of activities, $1 million of the unassigned balance was transferred to
the Capital Non-Recurring Expenditure Fund and $1.8 million of unused
appropriations were returned to fund balance compared to the $963.0 thousand
that were returned to fund balance at the end of FY2019 compared to $792.6
thousand of unused appropriations which were returned to the general fund
balance in FY2018. This compares to $591.2 thousand of unused appropriations
were returned to the general fund balance in FY2017. This compares closely to
the $599.3 thousand of unused appropriations that were returned to general fund
balance in FY16. This compares to $251.1 thousand of unused appropriation that
was returned to the general fund balance in FY15. Page 4
Good explanation of town financial activities and categories of Town funds is
found Page 5.
Note that Town Funds use the modified accrual accounting method so there is a
difference between governmental activities and governmental funds. This
difference is described in a reconciliation included with the fund statements. Page
5.
. Town cannot use fiduciary net assets to finance operations. Page 5
12. As noted above, the Town’s assets were restated in FY2018 Audit Report due to
GASB 75. In FY2020 the unrestricted net assets changed to ($19.13) million
compared to the FY2019 unrestricted net assets of ($13.040) million from the _
($11.532) million in FY2018 Based on that restatement, the Unrestricted net
assets decreased from ($13.638) million in FY2017 to ($11.532) million in
FY2018. In the FY2017 report Unrestricted net assets changed from (5.725)
million at end of FY15 to (10.913) million at end of FY16 to (5.839) in FY2017.
The negative value is a result of the implementation of GASB 68 in FY1S..
Business type activities (mostly the Utility Commission Enterprise Fund)
decreased to $53.6 million in FY2019 compared to $54.817 million in FY18
compared to $56.670 million at end of FY17 compared to $57.463 million at end
of FY16. This compares to $57.6 million in FY15. Page 6.
Total Revenues were $111.416 million and total expenses were $112.215 million
in FY2020 compared to Total Revenues of $102.563 million and total expenses
were $103.781 million in FY2019. This compares to Total Revenues of $106.967
million and total expenses of $104.634 million in FY18. This compares to Total
Paged

14.
15.
16.
17,
18.
Revenues $104.939 million and total expenses $102.223 in FY17 compared to
revenues of $101.315 million and Total Expenses $107.242 million in FY16
compared to Total revenues $102.886 million, Total Expenses $102.315 million
in FY15. Page 7.
Government activities revenue sources — 82.7% from property taxes, 13.4% from
operating and capital grants and contributions, 2.8% from charges for services and
1.1% from investment and other general revenues in FY20. This compares to
88.0% from property taxes, 7.2% from operating and capital grants and
contributions, 3.5% from charges for services and 1.3% from investment and
other general revenues in FY2019. This compares to 82.2 % from property taxes,
14.0% from operating and capital grants and contributions, 3.1% from charges for
services and 0.7% from investment and other general revenues in FY18. This
compares to 81.9% from property taxes, 14.4% from operating and capital grants
and contributions, 3.3% from charges for services and 0.4% from investment and
other general revenue in FY17 compared to 85.2% from property taxes, 11.2 from
operating and capital grants. 3.4% from charges for services and 0.2% from
investments in FY16. This compares to 80.5% from property taxes, 16.2% from
operating and capital grants and contributions, 3.1% from charges for services and
0.2% from investment and other general revenues in FY2015. Investments have
decreased by $215.0 thousand in FY2020 after increasing slightly in percentage
share (up by $611.0 Thousand in FY2019 over FY18. Page 7 & 8.
Note the factors affecting operations outlined on Pages 7 & 8.
Revenues from Sewer fees decreased by $55 thousand in FY2020 after increasing
by $111 thousand in FY19 compared to a decrease of $265,000 (3.3%) in FY18
compared to $226,000 (1.4%) in FY17 compared to decrease of $70,000 (1.8%)
in FY16, Capital contributions decreased by $43 thousand in FY2020 after a
$221 thousand (5.3%) decrease in FY2019, compared to a $890 thousand
decrease (68.1%) in FY17 compared to the increase by $362,000 (38.3%) in
FY16. This was due to completion of work on Pump Station Grit Facility in
FY18, Harvey Ave. Pump Station in FY17 and the Wastewater SCADA system
project. This compares to a decrease of $117,000 (3.0%) and capital
contributions increased by $522,000 due to completion of Bolles Court Pump
Station improvements in FY15. Page 8
Town Combined Fund Balance was $31.2 million in FY2020, an increase of $7.5
million from $23.7 million in FY2019, an increase of $1.7 million compared to
$22.0 million, an increase of $0.9 million in FY18 from $21.1 million an increase
of $3.5 million in FY17 compared to $17.6, million, a decrease of $2.7 million in
FY16 compared to $20.4 million in FY15. The General Fund showed a total
increase of $2.8 million in FY20 compared to an increase of $2.5 million in
FY2019 compared to an increase of $1.2 million in FY18 compared to an increase
of $1.7 million in FY17 compared to an increase of $1.3 million in FY16
compared to a decrease of $2.4 million in FY15. Page 8
The Internal Service Fund net assets increased by $1.3 million in FY20 compared
to a decrease by $352.5 thousand in FY19 compared to an increase by $255.3
thousand for FY18 adding to the $217.2 thousand in FY17 adding to the $788,900
increase in FY 16 adding to the $1.0 million increase in FY15. Fortunately, in
Page>

19.
20.
21.
22.
23.
24.
25.
26.
FY20 the contributions of $11.4 million offset the expenses of $10.2 million.
This compared to FY19 when the contributions of $11.7 million offset the
expenses of $12.1 million. This compares to FY18 where the $11.2 million in
contributions was greater than the $11.0 million expenses in FY18 continuing the
positive trend. In FY17 the $11.0 million in contributions and other revenues was
greater than the $10.8 million in expenses for claims and administration. This
continues the positive trend. In FY16 the $10.9 million in contributions was
greater than the $10.1 million in expenses for claims and administration just as in
FY15 the $11.9 million in contributions was greater than the $10.9 million in
claim expenses. Page 9.
FY20 revenues were $2.3 million over expenditures. This compares to FY19
when revenues were $2.8 million over expenditures on a budgetary basis. This
compares to FY18 revenues that were $934.9 thousand over expenses compared
to FY17 when revenues were $1.8 million over expenses compared to FY16 when
revenues were $1.2 million over expenses. FY15 revenues were $2.2 million
under expenditures. Page 9
As usual, a good presentation of major factors affecting the FY20 operating
budget. Page 10.
There were $522,100 of outstanding encumbrances at the end of FY20. This
compares to $186,800 of outstanding encumbrances at end of FY19. This
compares to $566,000 of outstanding encumbrances at the end of FY18. This
compares to $279,600 of outstanding encumbrances at the end of FY17. This
compares with $414,700 of outstanding encumbrances at the end of FY16
compared to $283,600 of outstanding encumbrances at the end of FY15.
Encumbrances are reported as expenditures for budgetary purposes. Page 10
Note that balances for special revenue funds that are funded primarily from
operating transfers from the General Fund are also rolled into the General Fund
for reporting purposes. In FY20 those balances amounted to $355,500. In FY19
those balances amounted to $67,000. In FY18, those balances amounted to
$74,900. In FY17 those balances were $86,600 compared to $98,700 in FY16.
Page 10
Capital assets decreased by $2 million in FY20. This compares to a decrease of
$6.8 million in FY19. This compares to a decrease of $7.0 million in FY18 on
top of the $7.37 million decrease in FY17 on top of the $5.8 million decrease in
FY 16 on top of decrease of $3 millionin FY15. Page 11.
Town debt at end of FY20 was $63 million down from $69.5 million at the end
of FY19, down from $74.5 million at end of FY18 which was down from the
$79.5 million in at end of FY17 compared to $85.7 million at end of FY16, down
from $90.2 million in FY15. Page 12.
Town debt rating is “AA” from Standard and Poor’s in FY20. This is no change
from FY19 and FY15. There is no mention of “Aa2” (up from “AA3” in FY11)
from Moody’s Investors Service that was noted in the FY16 report. Page 12.
Note that the town debt limit in FY20 is $638.6 million, up from $614.8 million in
FY19, up from 603.2 million in FY18, unchanged from FY17 but up from $572.3
million in FY16, up from $552.3 million in FY15. I hope we never get close to
that figure. Page 12.
Page4

27.
28.
29.
30.
31,
32.
33,
34,
The unemployment rate in FY20 was 10.8% up sharply from 3.7% in FY19. The
FY19 rate was down from the FY18 rate of 4.0% down from an FY17 rate of
4.7% in FY17 compared to 5.3% in FY16. This is lower than the national 11.1%
and higher than the State average of 10.1% in FY20. Page 12
The Unassigned Fund Balance increased by $2.2 million in FY20 compared to a
$2.8 million increase in FY19 compared to an increase of $796.8 thousand in
FY18 compared to an increase of $2.2 million in FY17 compared to a $809,700
increase in FY16, This is compared to the increase of $8.2 million in FY15 due to
the disestablishment of the stabilization fund of $10.4 million. The negative
operating results of $2.2 million caused the reduction to $8.2 million. The
stabilization fund was established at the end of FY11 at $9.7 million For
historical information prior to change in fund definitions in FY11, the Unreserved
Fund Balance at end of FY2010 was $11.1 million, essentially the same as in
FY2009 (report says it is a decrease from $12.08 in FY09) and close to the $11.4
million at end of FY07 after an increase to $19.2 million in FY08 due to
Dominion settlement. Page 12
Total Net Assets for FY20 are $210,444,390 compared to net assets in FY19 of
$212,884,881 compared to net assets for FY18 of $215,485,469 compared to net
assets of $222,999,822 in FY17 compared to $221,076,376 in FY16, compared to
an FY15 value of $227,004,185 Page 13.
Loss in the Business Type Activities (Utility Commission) in FY20 was
$1,688,931 compared to a loss in FY19 of $1,451,560 compared to a loss of
$2,085,971 in FY18 compared to a loss of $800,704 in FY17, compared to FY16
loss of $137,199 compared to the FY15 loss of $433,961. These losses are mostly
due to depreciation of related capital equipment. Page 14.
Long Term Liabilities at end of FY20 was $14,540,697. This is an increase from
the FY19 value of $13,688,114, a slight decrease from FY 18 total liabilities of
$14,426,353 compared to $10,893,245 in FY17 compared to an FY16 value of
$19,128,450 compared to an FY15 value of $16,458,081. Page 15.
Long Term Liabilities not reported in the funds at end of FY20 are $158,417,896
compared to a FY19 value of $134,731,866 compared to $124,511,806 in FY18
compared to $124,073,136 in FY17, compared to FY16 liabilities of
$125,581,192 compared to FY15 liabilities of $123,607,087. This is the third
time the long-term liabilities have been detailed in this part of the audit due to the
OPEB reporting requirements. Page 16.
Note that the Net Pension Liability is $31,574,561, Compensated Absences is
$7,239,502 and Net OPEB Liability is $17,291,575 in FY20. This compares to a
Net Pension Liability of $29,879,877, Compensated absences liability of
$7,258,446, and the Net OPEB liability of $18,501,569 in FY19. This compares
to Net pension liability of $14,262,138; the compensated absences liability of
$7,093,628 and Net OPEB liability of $20,720,417 for FY18. Page 16
General Fund Balance at end of FY20 was $20,113,162 compared to $17,259,424
at end of FY19, compared to $14,789.151 in FY18 compared to $13,594,126 in
FY17, compared to FY16 Balance of $11,922,864 compared to a general fund
balance at end of FY15 of $10,574,012. Page 17
Page

35
36.
37.
38.
39.
40.
41.
42.
43,
44,
45.
46.
. Capital and Nonrecurring Fund Balance at end of FY20 was $8,062,934
compared to $4,491,330 at end of FY19, compared to $5,593,327 at end of FY18
compared to $6,473,966 in FY17, compared to FY16 CNR balance of $7,307,393
compared to a CNR balance at end of FY15 of $10,197. Page 17.
Note that there was still a deficit of $2,941,628 related to the Waterford High
School Building Project at the end of FY20. This is down from the deficit of
$2,941,645 at end of FY19. I guess $17 of interest sort of pays off. Real question
is what is current status? Page 17
Note the explanations for the differences in amounts reported for government
activities on page 18. There is more detail in FY20 and FY19 audits compared to
previous audits before FY18. Some of this is a result of the requirement to
provide more detail regarding Pension and OPEB future liabilities. Page 18
The change in net assets of government activities was ($895,894) in FY20
compared to ($1,356,763) at end of FY19 compared to $2,137,645 at end of
FY18 compared to $2,716,587 at end of FY17 compared to ($5,790,620) at end of
FY16 compared to ($1,005,513) in FY15. Page 18.
Enterprise Fund showed an operating loss of $1,688,931 in FY20 compared to an
operating loss of $1,451,560 in FY19 compared a loss of $2,105,565 in FY18
compared to a loss of $1,217,918 in FY17 compared to a loss of $1,444,095 in
FY16 compared to a loss of $1,378,805 in FY15. The depreciation expense plays
a significant role in this paper loss. Page 20
Internal Service Fund for Health insurance showed an increase to $5,802,649 in
FY20 compared to a reduction to $4,542,016 in FY19 compared to its position of
$4,894,509 in FY18, up from $4,639,216 in FY17 up from $4,422,052 in FY16
up from $3,633,202 inFY15. Page 20
Internal Service Fund Investment income of $47,265 in FY20 is up slightly from
$43,199 in FY19 is up from $27,557 in FY18 is up from $12,741 in FY17 is up
from $3,548 in FY16 is up from the $2,017 earned in FY15. Page 21.
Utility Commission Enterprise Fund ended FY20 with $4,836,350 cash balance
compared to ending FY19 with $3,667,346 up from $3,138,882 cash balance in
FY18, up from $2,990,568 in FY17, up from FY16 cash balance of $2,320,871 in
cash, up from FY15 with $2,266,877. Page 21.
Pension Fund lost $10,850 in FY17 adding to the $64,001 loss in FY16, adding
on to the $74,007 loss in FY15. Not broken out in FY18, FY19, or FY20. Page
23.
Note that $6,109,331 was restricted to OPEB Benefits and $540,447 to
Retirement Benefits in FY20 compared to $5,056,942 restricted for OPEB and
$535,281 for retirement in FY19, Page 22
Trust Funds information was combined in the FY18 report rather than separating
the Pension fund and the OPEB fund. This was repeated in FY19 and FY20. I
prefer keeping the reporting of the two funds separate even though both are
managed by the Retirement Commission. Page 22 &23 |
The combined Trust funds ended FY20 with a balance of $6,649,778 up from a
FY19 balance of $5,592,253 up from a FY18 balance of $4,179,991 compared to
a combined balance of $2,919,656 at end of FY17. OPEB Trust Fund ended
FY17 with a balance of $2,355,136 with its only expense in FY17 an
PageO

47,
48.
49,
Administrative payment of $9,781. It made its first appearance in the audit report
in FY16 with a value of $1,160,000. Page 22 and 23.
The combined Retirement and OPEB Investment Income in FY20 was $333,388
in FY20, compared to a FY19 Investment income of $297,336 up from $161,460
in FY18. The FY17 investment income was $48,277. Page 23
It is important to understand the accounting policies discussed on pages 24-35.
Note that revenues are recorded when earned and expenses are recorded when a
50.
51
54.
55
56.
57.
58.
59.
60.
61.
62.
63.
64.
liabilityisincurred_regardless-of the timing of the related-cash flows.Page25
Generally, expenditures are recorded when a liability is incurred. However, debt
service expenditures as well as expenditures related capital leases, compensated
absences, claims and judgements are recorded when payment is due. Page 25
. Note the rules on interfund activity described on Page 26
52.
53.
Note the depreciation table on page 27 for all physical property and equipment.
Note discussion of Deferred Outflows/Inflows related to OPEB funds on Pages
27-28.
Fund balance terms explained on pages 29-30. (GASB 54 implementation)
. In budget discussion on page 31, the appeals process time lines are in the Town
Charter, not Town Ordinances. This error was also in the FY19 and FY18
reports.
During FY20 supplemental budgetary appropriations of $1 million were made.
This compares to supplemental budgetary appropriations of $800,000. Page 31
Note the difference between GAAP and budgetary basis of accounting on Pages
31 and 32.
Funds with Deficit balances — Historic Preservation Enhancement Grant — I
assume that the dollars are in the General Fund. High School Building Project —
$2,941,628 in FY20 compared to $2,941,645 deficit in FY19 (down from
$2,941,672 deficit in FY18). I assume this is the amount in dispute with the State
regarding allowed expenditures for the High School Project. Page 32. In FY19
and FY18 report the High School Building Project owed the General Fund
$2,942,807 (Page 37).
Custodial Credit Risk Presentation different in FY20, FY19 and FY18 different
from the FY17 discussion. IN FY20 the discussion was limited to a bank balance
of $9,684,969. Discussion was limited to bank balance of $3,682,002 in FY19
and $1,258,200 in FY18 while bank balance if FY17 was $16.969,000.
Respective Credit Risks reported are $7,671,969 in FY20 , 2,859,979 in FY19,
$633,815 in FY18 and $13,500,000 in FY17. Page 33
Be sure to review the Vario