Representative Town Meeting (RTM) - 1279 (05/13/2026)

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TOWN OF WATERFORD
FY2027 BUDGET REQUEST
DEPARTMENT: BOARD OF FINANCE (10103)
BUDGET FUNCTION
THE BOARD OF FINANCE HAS THE RESPONSIBILITIES AS ESTABLISHED BY WATERFORD
ORDINANCE 3.3 (BOARD OF FINANCE).
“THE BOARD OF FINANCE SHALL PREPARE THE TOWN BUDGET AND LAY THE TAXES IN
ACCORDANCE WITH SECTION 7-344 OF THE GENERAL STATUTES. THE BOARD MAY
APPORTION TAXES BETWEEN YEARS IN ACCORDANCE WITH SECTION 7-346 OF THE GENERAL
STATUTES. THE BOARD MAY TRANSFER UNEXPENDED BALANCES IN ACCORDANCE WITH
SECTION 7-347 OF THE GENERAL STATUTES. THE BOARD MAY APPROVE SPECIAL
APPROPRIATIONS IN ACCORDANCE WITH SECTION 7-348 OF THE GENERAL STATUTES.
THE BOARD SHALL PRESCRIBE THE METHOD BY WHICH, AND THE PLACE WHERE, ALL
RECORDS AND BOOKS OF ACCOUNTS OF THE TOWN OR OF ANY DEPARTMENT OR
SUBDIVISION THEREOF SHALL BE KEPT. THE BOARD SHALL ARRANGE FOR THE ANNUAL AUDIT
AS REQUIRED UNDER CHAPTER 111 OF THE GENERAL STATUTES. THE BOARD OF FINANCE
SHALL PUBLISH AN ANNUAL REPORT AS SET FORTH IN SECTION 7-406 OF THE GENERAL
STATUTES. THE BOARD OF FINANCE SHALL HAVE ALL OTHER POWERS AND DUTIES AS
BESTOWED BY THE GENERAL STATUTES.”
BUDGET SUMMARY
PERSONNEL COSTS
Personnel costs cover the board’s clerical support. The FY2027 budget request is decreased by
15.05% because of the current salary and 5 year average of hours worked to support the Board
of Finance.
SERVICES
The FY2027 budget request reflects a total 3.82% increase over the previous year due to a
contractual agreement increase in our audit costs. The contract with our current audit firm
(CLA) will expire at the end of FY28 audit.

TOWN OF WATERFORD
FY2027 BUDGET REQUEST
DEPARTMENT: BOARD OF FINANCE (10103)
MATERIALS & SUPPLIES
The FY2027 budget request includes funds for new member signs that may be needed after
local elections or any other supply that may be needed by the board membership.
EXPENDITURE HISTORY
BOARD OF FINANCE EXPENDITURE HISTORY
m@ FY21 ACTUAL @ FY22 ACTUAL © FY23 ACTUAL ® FY24 ACTUAL ® FY25 APPROVED

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CliftonLarsonAllen LLP
ME A 
CLAconnect.com
ta
July 8, 2025
Kimberly Allen
Director of Finance
Town of Waterford
Finance Office
15 Rope Ferry Road
Waterford, CT 06385
Dear Kim:
Thank you for allowing us the opportunity to continue providing services to the Town of Waterford, CT. Below is
a summary of the services and the proposed fees for your organization. If you have any questions about our
offerings, please do not hesitate to contact me at 401-330-2752 or email at Stephen.Gross@claconnect.com,
Your investment
Based on our understanding of your requirements, we propose the following fees:
Audit 
$20,200 
$21,000 
$21,700
Federal Single Audit 
$9,000 
$9,400 
$9,800
State Single Audit 
$9,000 
$9,400 
$9,800
ACER Assistance 
$5,600 
$5,800 
$6,000
Town total 
$43,800 
$45,600 
$47,300
a ea 
eS
Audit 
$11,200 
$11,600 
$12,100
Federal Single Audit 
$9,000 
$9,400 
$9,800
State Single Audit 
$9,000 
$9,400 
$9,800
EFS 
$10,100 
$10,500 
$10,900
BOE total 
$39,300 
$40,900 
$42,600
CLA (CliftonLarsondllen 
LLP) Is an independent network member of CLA Global, See_CLAglobal.com/disclaimer:
Investment advisory services are offered through CliftonLarsonAllen Wealth Advisors, 
LLC, an SEC-registered investment advisor

Our fees do not anticipate unusual or unforeseen circumstances. Before the scope of our work is changed for
any unanticipated circumstances or events, we will inform you of the change and related change in fee.
CLA has a very open fee philosophy with our clients, and will work with you to establish a mutually acceptable
fee arrangement for any future or special project engagements. We reiterate our strong interest in providing
you the quality of service and support that will help you achieve your goals. If at any time you have a question
concerning our services or fees, please call it to our attention so that we can discuss it.
Sincerely,
CliftonLarsonAllen LLP
Stephen Gross, Principal
= 
©2024 CliftonLarsonAllen LLP | 2

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