BOF 11-12-2025 Regular Meeting Agenda & Backup Documents

FIFTEEN ROPE FERRY ROAD
WATERFORD, CT 06385-2886
BOARD OF FINANCE
AGENDA
Waterford Town Hall
Regular Meeting
Establishment of a quorum and call to order.
Public Comment
Approval and acceptance of minutes from October 8, 2025.
To consider and act on a FY26 Out-of-Series Transfer fror
amount of $73,467 as indicate
the Transfer Request Form:
1m the Director of Fire Services,
PHONE: 860-442-0553
wwwwaterfordctorg
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So
November 12,
7:00 p.m.
2025
Chris Haley, in the
TOWN OF WATERFORD
TRANSFER REQUEST FORM
ut of Series Transfer Request
ee somes
wrmone commer Accowet accom nevsen
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5. To consider and act on a request from the
of $88,640 to cover the cost of hiring
forward to the RTM if required
Personnel costs:
Director of Fire Services, Chris Haley,
i two (2) full-time Firefighter/El
$73,293 line #10123-51410
‘Turnout gear: 8,584, tine #10123-53111,
Uniform/Clothing/Boots/Badges: $4,463 line #10123-52370
Comprehensive Baseline Medical Exams: $2,300 line #10123-52310
for an additional appropriation
‘MTs for the following designated lines, and

Board of Finance Agenda, November 12, 2025
Page 2
6. Review and possible action of the Superintendent of Schools’ letter listed in Correspondence requesting a
revised FY27 BOE budget submittal date.
7. To consider and act on a request for approval of the General Fund 2026/2027 Proposed Budget: Board of
Finance.
8. To consider and act on a request for approval of the General Fund 2026/2027 Proposed Budget: Debt Service.
9. To consider and act on a request for approval of the General Fund 2026/2027 Proposed Budget: Contingency.
10. Appointment of a Board of Finance member to serve on the Social Services Grant Committee for a term of one
year December 2025 to December 2026.
11. Old Business
12. New Business
13. Liaison Reports
14. Correspondence
Abbas Danesh, Town Treasurer, Quarterly Treasurer’s Report and related Financials ending 10/31/25.
Virginia Bielucki, Town Accountant, Periodic Financial Statements FY25 dated October 17, 2025.
Virginia Bielucki, Town Accountant, Status of General Fund Unassigned Balance dated October 17, 2025.
Virginia Bielucki, Town Accountant, Status of Contingency FY2S dated October 15, 2025.
FY26 1* Quarter Capital Project Status Report
Special Revenue Reports, August 31, 2025
Special Revenue Reports, September 30, 2025
2026 OPM Grand List Revaluation Proposal
2026 Town Observed Holiday Schedule
rom me ange
15. Adjournment
Glenn Patterson, Chairman

3.

Board of Finance Minutes, 10/8/2025
Page 2
6.
To consider and act on a request by Paige Walton, Assessor, for an appropriation in the amount
of $210,000 from designated line# 20501-57369 (CNR Revaluation) for property revaluation
project to Vision Government Solutions Inc. and forward to the RTM if required.
Motion by Ron Fedor and seconded by Josh Kelly to move $210,000 from designated line#t
20501-57369 (CNR Revaluation) for property revaluation project to Vision Government
Solutions Inc. to appropriated, and forward to the RTM as required,
Vote: 7-0-0 Motion: Passed
To consider and act on a request by Chris Haley, Director of Fire Services, for an appropriation in
the amount of $49,102 from designated line #20523-57777 (Fire Service-SCBA Upgrade Prog)
for the SCBA Upgrade Program and forward to the RTM if required.
Motion by Josh Kelly and seconded by Joseph Filippetti to move $49,102 from designated linett
20523-57777 (Fire Service-SCBA Upgrade Prog) for the SCBA Upgade Program to
appropriated, and forward to the RTM as required.
Vote: 7-0-0 Motion: Passed
Review and possible action on the FY27 Budget Guidelines.
Motion by Bill Sheehan and seconded by Robert Tuneski to approve the FY27 Budget
Guidelines as presented by the Finance Director, Kimberly Allen.
Chairman, Glenn Patterson, asked the director to point out specific changes made to the FY27 Budget
Guidelines. The director responded that specific changes would be regarding the new request for more
budget details from the Board of Education (BOE) on page 5. The new request would be for the BOE to
provide the same financial documentation (Education Financial System, EFS, Report) as is required of
them to submit to the State of Connecticut in order to be transparent to the Town and taxpayers with
their budgeted money.
Michael Rocchetti added an observation that with the BOE being greater than 50% of the Town’s
budget, there is no clear picture of what is done with the allotted money and that is very concerning to
him. Mrs. Allen added that the EFS Report provides much more detail of costs and expenditures.
Vote: 7-0-0 Motion: Passed
Review and possible action on the proposed Board of Finance Regular Meeting and Budget Hearing
schedules.
Motion by Bill Sheehan and seconded by Josh Kelly to approve the schedules as presented with the
following corrections:
1. Regular Meeting scheduled February 12, 2026 CHANGE to February 11, 2026.
2, Regular Meeting scheduled November 11, 2026 CHANGE to November 18, 2026.
3. Add the approved budget submission date at the bottom of the Budget Hearing Schedule to
read “December 19, 2025”,
Vote: 7-0-0 Motion: Passed

Board of Finance Minutes, 10/8/2025
Page 3
10.
11.
12,
13.
14,
Old Business: none
New Business: none
Liaison Reports: Ron Fedor asked Glenn Patterson about the Long Range Fiscal Planning
Meeting. Chairman Patterson responded that the next meeting will be held in the 4" Quarter,
likely December.
Correspondence: No comments
As a side note, the Chairman personally thanked the current Board of Finance members for
their time and fruitful discussions over the past year. Joseph Filippetti added a full agreement
to his statement. Bill Sheehan also thanked the members who are up for election as some will
remain and some may leave. He believes that the Board has been a good team across both
Parties. Bob Tuneski said that he felt this Board was a very collegial bunch with the best
intentions of the Town at heart. He also wanted to publicly acknowledge Michael Rocchetti for
his contributions to the Oswegatchie Building Committee as he accidentally forgot to mention
his name at the RTM Meeting on October 6, 2025.
Chairman Patterson thanked the Director of Finance, Kimberly Allen, and her department who
always assist with the Board’s needs. In closing and in jest, Chairman Patterson pointed out
that the Town Treasurer, Abbas Danesh, wins the “Most Meetings Attended” award as well as
thanking him for his assistance to the Board of Finance.
Adjournment
Motion by Bill Sheehan and seconded by Michael Rocchetti to adjourn the Regular Meeting of
the Board of Finance at 7:24pm.
Vote: 7-0-0 Motion: Passed
Respectfully submitted,
ill) W. Sheehan, febecca L. Hall,
Clerk of the Board of Finance Recording Secretary
Attachments: Board of Finance 2026 Regular Meeting Schedule
Board of Finance Fiscal Year 2026/2027 Budget Hearing Schedule

BOARD OF FINANCE
BUDGET HEARING SCHEDULE
FISCAL YEAR 2026/2027
Monday, March 2, 2026 -Library oat
Police Department ED FOR
Emergency Management RECENERFORD.CT
Fire Services .
Board of Finance mms och 15 P EM2
Contingency
Wednesday, March 4, 2026...
thics Commission
Conservation of Health
Public Health & Nursing
Miscellaneous Social Grants
‘Youth Services
Senior Citizens
Recreation and Parks
Monday, March 9, 2026... ..Beonomic Development
Conservation Commission
Planning and Zoning
Zoning Board of Appeals
Building Department
Flood and Erosion Control
Review Projected Revenue
Finance Department
Wednesday, March 11, 2026.
Wednesday, March 11, 2026.
Regular Meeting
‘Human Resources
Retirement
Insurance
Legal
Information Technology
Monday, March 16, 2026 ... Registrar of Voters
Assessor
Board of Assessment Appeals
Tax Collector
Town Clerk
Representative Town Meeting
Board of Selectmen
Wednesday, March 18, 2026. - Building Maintenance
Public Works
Capital Improvements
Debt Service
‘Transfers to Capital and Non-Recurring
. Board of Education
‘Monday, March 23, 2026...
Wednesday, March 25, 2026... .. Board of Finance Public Hearing on Budget Followed by
Special Meeting for Final Budgetary Action
RTM Annual Budget Meeting
(anticipated to be conducted May 4* through May 8%)
Monday, May 4, 2026...
All Board of Finance Meetings will be held at the Waterford Town Hall at 7:00 p.m. and end at 10:30 p.m,
unless otherwise noted. All budgets are due in the Finance Office on December 19,2025 WITH NO
EXCEPTIONS.
‘S:Finance: Board of Finance-grm/Meeting Schedule/Budget Hearing Schedule

BOARD OF FINANCE
MEETING SCHEDULE
IVED FOR RECORD
CALENDAR YEAR 2026 REE MER ORD ET
ALL MEETINGS WILL BE HELD AT 7:00 P.M. UNLESS OTHERWISHNoKED? | 42
January 14, 2026 Regular Meeting 5 1.9 ffir
February 11, 2026 Regular Meeting ERK
March 2, 2026 Budget Hearing
March 4, 2026 Budget Hearing
March 9, 2026 Budget Hearing
March 11, 2026 Regular Monthly Meeting
(Followed by Budget Hearing)
Mareh 11, 2026 Budget Hearing
March 16, 2026 Budget Hearing
March 18, 2026 Budget Hearing
March 23, 2026 Budget Hearing
March 25, 2026 Public Hearing on the budget
followed by Special Meeting for
Final Budgetary Action
April 8, 2026 Regular Meeting
May 4, 2026 RTM Annual Budget Meeting
{anticipated to be conducted
May 4® through 11)
May 27, 2026 Regular Meeting (Fourth
Wednesday)
June 10, 2026 Regular Meeting
July 15, 2026 Regular Meeting (Third
Wednesday)
August 12, 2026 Regular Meeting
September 9, 2026 Regular Meeting
October 14, 2026 Regular Meeting
November 18, 2026 Regular Meeting
December 9, 2026 Regular Meeting
$:Finance:Board of Finance/Meeting Schedule/BOF Meeting Schedule 2026

revised 9/9/20
FIRE SERVICES
DEPARTMENT
APPROVED
CURRENT
ACCOUNT
ACCOUNT 
REVISED
Budget
Available
INCREASE
DECREASE
Available
Line No.
Org. Code
Object Code
Object Description
Amount
Budget
Budget
1
10123
51110
ADMINISTRATION
226,823.00
173,011.44
(20,077.00)
152,934.44
2
10123
51412
PART TIME FIREFIGHTING
136,129.00
98,892.20
(35,600.00)
63,292.20
3
10123
52320
RENTAL OF HYDRANTS
579,000.00
12,500.00
(12,500.00)
0.00
4
10123
52372
INSURANCE
160,750.00
8,290.00
(5,290.00)
3,000.00
5
10123
51410
FIREFIGHTING
1,436,511.00
1,037,895.42
73,467.00
1,111,362.42
TOTAL
73,467.00
(73,467.00)
Explanation
Chris Haley
10/9/2025
Department Head
Date
Kim Allen
10/10/2025
Director of Finance
Date
First Selectman
Date
Commission/Board Approval
Date
4. Funds available because Oswegatchie Fire Station premium transferred to town policy.
5. Funds needed for new full-time firefighter hired.
TOWN OF WATERFORD
TRANSFER REQUEST FORM
Out of Series Transfer Request
1. Funds available because new Director salary lower than budgeted.
2. Funds available because new full-time firefighter hired.
3. Funds available because actual costs lower than budgeted.
4.

Town
of
Waterford,
CT
YEAR-TO-DATE
BUDGET
REPORT
10123,
$1110
ADMINISTRATION
226,823.00
0.00
226,823.00
SSS
10123
$1120
INSPECTION
87,983.00
0.00
87,983.00
Pieto
Cusnican AND
TEC
10123
52210
CLERICAL
AND
TECHNICAL
171,720.00
0.00
172,720.00
£53240,
COUCATIONAL
INCENTING)
10123
$1240
EDUCATIONAL
INCENTIVE
11,880.00
0.00
11,880.00
10123
51410
FIRE
FIGHTING
1,436,511.00
0.00
1,436,511.00
SS
10323
51432,
INCENTIVE
PROGRAM
STIPENDS
40,000.00
0.00
40,000.00
BSisi2
ART
TIE
STRERICITING
10123
$1412
PART
TIME
FIREFIGHTING
136,129.00
0.00
136,129.00
separ
sereraed:
1036/2035
09:22
Srogean
10:
ghytdbud
$3,811.56
24,992.45
398,615.58
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
173,011.44
1,037,895.42
98,892.20
Page
10.4x
27.7%
27.4%
a

Town
of
Waterford,
CT
YEAR-TO-DATE
BUDGET
REPORT
10123
$1440
DISPATCH
0.00
0.00
0.00
0.00
0.00
0.00
0%
Lisu
extra
Oui]
10123
51450
EXTRA
DUTY
0.00
0.00
0.00
0.00
0.00
0.00
0%
P5255)
EXTRA
DUTY
EGU
AR
WAGES
10123
$1451
EXTRA
DUTY
REGULAR
WAGES
0.00
‘0.00
0.00
0.00
0.00
0.00
0%
Pisiy
cveative)
10123
51810
OVERTIME
123,129.00
210,000.00
333,129.00
59,427.23
0.00
273,701.77
17.8%
PSIS12
FIRE
INSPECTORS
OVERTIME
10123
51812
FIRE
INSPECTORS’
OVERTIME
6,000.00
0.00
6,000.00
1,726.33
0.00
4,273.67
28.8%
P1520
REPLACEHENT
OVERTING)
10123
$2820
REPLACEMENT
OVERTIME
200,000.00
200,000.00
0.00
0.00
0.00
0.00
0%
#51530
TRAINING &
EDUCATION|
10123
$1830
‘TRAINING
OVERTIME
10,000.00
=10,000.00
0.00
0.00
0.00
0.00
0%
Broce
10123
51920
F.T.C.A.
187,058.00
0.00
187,058.00
45,523.13
0.00
241,534.87
24.3%

Town
of
Waterford,
CT
YEAR-TO-DATE
BUDGET
REPORT
10123
52010
ADVERTISING
400.00
0.00
400.00
0.00
0.00
400.00
ox
10123
52020
POSTAGE
250.00
0.00
250.00
2.86
0.00
247.34
Lax
£52050
PROFESSIONAL
ets)
10123
52030
PROFESSIONAL
FEES,
2,500.00
0.00
2,500.00
129.96
0.00
2,370.04
5.2%
$5200
SERVICE
CONT
AND
REPAIRS
10123
$2040
SERVICE
CONT.
AND
REPAIRS
23,437.00
0.00
23,437.00
7,787.38
9,172.44
6,S07.21
72.2%
$5
2050) DUES
CONFER
10123
$2050
DUES,
CONFERENCES
&
EOUCAT
38,418.00
0.00
38,418.00
17,594.98
7,090.02
33,733.00
64.3%
10123
$2060
PRINTING
100.00
0.00
100.00
5.55
0.00
94.45
5.6%
952070
RE
THGURSAGLELXPENSESS
30123
$2070
REIMBURSABLE
EXPENSES
1,000.00
0.00
2,000.00
227.78
0.00
72.22
22.8%
B20su
eccenoe)
10123
52080
TELEPHONE
29,500.00
0.00
29,500.00
6,212.47
11,480.87
11,806.66
60.0%
Asgoresenracees
1074/2085
08.21
page
3

Town
of
Waterford,
CT
YEAR-TO-DATE
BUDGET
REPORT
HEATING
FUEL
0.00
0.00
0.00
0.00
0.00
0.00
0%
10123
52110
WATER
0.00
0.00
0.00
0.00
0.00
0.00
0%
P2120
sesce}
10123
52120
SEWER
0.00
0.00
0.00
0.00
0.00
0.00
0%
[52250
pet
iC
SABETY
AsARENESo}
10123
$2290
PUBLIC
SAFETY
AWARENESS
4,000.00
0.00
4,000.00
264.96
0.00
3,735.04
6.6%
152.305
OSHA
COMPLIANCE)
10123
52305,
‘OSHA
COMPLIANCE
1,800.00
0.00
1,800.00
173.12
0.00
1,626.88
9.6%
SS
30123
52310
EXAMINATIONS
12,254.00
0.00
12,254.00
4,996.42
2,503.58
4,754.00
61.2
152520
RENTAL OF
HYDRANTS}
10123
$2320
RENTAL
OF
HYDRANTS
579,000.00
‘0.00
579,000.00
141,625.00
424,875.00
32,500.00
97.8%
page
4

Town
of
Waterford,
CT
YEAR-TO-DATE
BUDGET
REPORT
10223
52370
CLOTHING
OR
UNTFORM
ALLOW
221,525.00
0.00
21,525.00
4,142.43
1,902.60
35,479.97
28.2%
10123
$2372
FIRE
POLICE
750.00
0.00
750.00
0.00
0.00
750.00
0%
src
xsunanc
10123
52372
INSURANCE
160,750.00
0.00
160,750.00
152,459.56
0.00
8,290.44
94.8%
10123
$2373
LP
Gas
4,600.00
0.00
4,600.00
184.60
0.00
4,415.40
4.0%
10223
52374
‘CABLE
TELEVISION
10,800.00
0.00
10,800.00
1,972.70
3,786.19
5,041.12
53.3%
2575
GROUND
LADOGR
TLS
LING
10223
52375
GROUND
LADDER
TESTING
6,190.00
0.00
6,190.00
1,350.00
0.00
4,840.00
22.8%
52570
ORAL.
=CoTESTING
10123
$2376
HYORAULIC
TESTING
6,492.00
0.00
6,492.00
595.51
0.00
5,896.49
9.2%
ois
/7oRcaTnING
APpAsALUS
TESTING
10123
52377
BREATHING
APPARATUS
TESTING
9,800.00
‘0.00
9,800.00
3,965.05
3,256.69
2,578.26
73.7%.
gore
severac:
1944/2025
08:21
im
|S

4
ry
=
3
g
=
>
S
3
a
Q
g
|
Ba
49
i}
>
ca
m
a
¢
S
ray
m
q
a
in
Q
3
4
|
10123
$2378
BUILOING
MAINTENANCE
81,500.00
0.00
81,500.00
5,665.71
37,837.57
37,996.72
$3.48
£52379
HOSE
TESS
ING:
AND,
REPAIRS
30223
$2379
HOSE
TESTING
AND
REPAIRS
10,108.00
0.00
10,108.00
9,501.60
0.00
606.40
94.0%,
[o2
387
PUN
TESTING
SEuLCeS
10123
52387
PUMP
TESTING
SERVICES
3,000.00
0.00
3,000.00
0.00
0.00
3,000.00
0%
[52392
GENERATOR
MAINTENANCE
A
REPAIR)
10123
$2392
GENERATOR
MAINTENANCE
&
REPAIR
9,500.00
0.00
9,500.00
0.00
0.00
9,500.00
20%
[5250
FF
PROTECTIVE
CLOTHING
10123
$2396
FE
-PROTECTIVE
CLOTHING
0.00
9.00
0.00
0.00
0.00
0.00
0%
[7010 OFF
ice
SUPPLIES
10123
$3010
OFFICE
SUPPLIES
1,000.00
‘0.00
1,000.00
19.11
0.00
380.89
11.9
[5020s ose
Suet
10123
$3020
OTHER
SUPPLIES
20,000.00
0.00
10,000.00
202.82
0.00
9,797.18
2.0%
SS
10123
53021
CONSUMABLE
SUPPLIES
4,500.00
6.00
4,500.00
45.85
0.00
4,454.15
1.0%
epore
gereracd:
10/14/2025
09:21
page
6
Progran
ro:
Slytsbus

Town
of
Waterford,
CT
YEAR-TO-DATE
BUDGET
REPORT
10123
53070
AUTO
REPAIRS
110,000.00
0.00
110,000.00
41,931.31
6,763.96
61,304.73
44.3%,
P3050
AUT
OVO!
EVESHALNIENANCG
10123
53080
AUTOMOTIVE
MAINTENANCE
20,000.00
0.00
20,000.00
10,693.96
7,547.60
2,758.44
92.2%
[53055
waRIne
REPAIBS)
10123
$3085,
MARINE
REPAIRS,
5,000.00
0.00
5,000.00
0.00
0.00
5,000.00
ox
[53090
Fucus
ano
LucnicaNrs}
10123
$3090
FUELS
AND
LUBRICANTS
40,815.00
0.00
40,815.00
6,370.41
0.00
34,444.59
15.6%
[200
Tikes)
10123
53100
‘TIRES,
8,000.00
0.00
8,000.00
5,094.36
1,429.00
1,476.64
81.5%
[55110
COMPUTER
SUPPLIES}
10123
53110
‘compUTER
SUPPLIES,
1,000.00
0.00
1,000.00
399.95
0.00
600.05
40.0%
P5311
FF
PROTECTIVE
CLOTHING
10123
$3121
FF
PROTECTIVE
CLOTHING
35,000.00
0.00
35,000.00
30,677.40
4,321.70
0.90
100.0%
5112
STREEIGHTING
SUPPLICSE
10123
53112
FIREFIGHTING
SUPPLIES.
9,500.00
0.00
9,500.00
2,486.43
6,130.18
883.39
90.7%
gore
generated:
30/34/2025
09:22
rae
7
Brogean
ro:
Shytabud

Town
of
Waterford,
CT
YEAR-TO-DATE
BUDGET
REPORT
10123
$3113,
VOLUNTEER
RESPONDER
AWARDS
3,$00.00
0.00
3,500.00
1,800.00
0.00
2,000.00
42.9%
10123
$3114
NEDICAL
SUPPLIES
6,500.00
0.00
6,500.00
2,080.08
2,159.58
2,260.34
65.2%
PoS115
VOLUNTEER
FIREEICHTER
SUPrLLES)
10123
$3215,
VOLUNTEER
FIREFIGHTER
SUPPLIES
3,000.00
0.00
3,000.00
0.00
0.00
3,000.00
0%
10123
$4060
OFFICE
EQUIPMENT
1,200.00
0.00
1,200.00
199.20
0.00
1,000.80
16.6%
Eero
cOULTEN
TORS
ves
recs
LON
10123
54202,
EQUIPMENT
-FIRE
INVESTIGATIONS
750.00
0.00
780.00
702.96
0.00
47.04
93.7%
10123
$4207
SCBA
REPLACEMENT
BOTTLES
e
0.00
0.00
0.00
0.00
0.00
0%
10123
$4215
THERMAL
CAMERAS
-OSWEGATCHIE
0.00)
0.00
0.00
0.00
0.00
0.00
0%
10123
$4216
MULTI-~GAS.
METER
0.00
0.00
0.00
0.00
0.00
0.00

Town
of
Waterford,
CT
YEAR-TO-DATE
BUDGET
REPORT
10123
$4217
RESCUE
SAWS
0.00"
0.00
0.00
0.00
0.00
0.00
0%
P53218
A1REFIGHTER
EQUIPHENT)
10123
$4218,
FIREFIGHTER
EQUIPMENT
22,758.00
0.00
22,758.00
0.00
2,000.00
20,758.00
8.8%
#54229
COULPWENT. STIRAGE
LOCKERS
10123
54219
EQUIPMENT
STORAGE
LOCKER
0.00
0.00
0.00
0.00
0.00
0.00
0%
$532.20,
RADIO,
EMERGENCY
LGC
10123
54220
RADIO/EMERGENCY
LIGHTS
9,500.00
0.00
9,500.00
35.00
0.00
9,465.00
aX
221
SERVICE
TRUCK
EQUIPHENTY
10123
$4221
SERVICE
TRUCK
EQUIPMENT
0.00
0.00,
0.00
0.00
0.00
0.00
O%
[4222
RESCUE
TRUCK
EQUIPYENT)
10123
$4222
RESCUE
TRUCK
EQUIPMENT
5,500.00
‘0.00
5,500.00
0.00
0.00
5,500.00
0%
£55226
SOULE
TE
10123
$4226
EQUIPMENT
5,700.00
0.00
5,700.00
0.00
0.00
5,700.00
0%
P5323)
TELEPHONE SYSTEM
GOSHEN
FIRE]
10123
$4241
TELEPHONE
SYSTEM
~GOSHEN
FIRE
0.00
0.00
0.00
0.00
0.00
0.00
0%
gegoce
generate
025
09:22
page
9

Town
of
Waterford,
CT
YEAR-TO-DATE
BUDGET
REPORT
‘**
END
OF
REPORT
-
Generated
by
Kinberly
Allen
**
page
10
egoregeneraed:
39/6/2025
09:21
Program
xo:
glytdbud

5.

6.

7.

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.
a —

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
70,917
70,159
= FY21 ACTUAL = FY22 ACTUAL = FY23 ACTUAL = FY24 ACTUAL = FY25 APPROVED.
|

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CiontarsonAllen LLP
CLAconnect.com
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
oe ek EE
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

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.
icerely,
CliftonLarsondlllen LLP
Stephen Gross, Principal
B® (62028 cahontarondlen UP | 2

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TOWN OF WATERFORD
FY2027 BUDGET
ARTMENT: DEf
BUDGET FUNCTION
The town typically incurs monetary debt in the form of long-term (20 year) bonds used as a
funding source for long-term capital projects. The debt service budget defines the amount of
both principal and interest that the town will pay its creditors (typically bondholders) in a given
fiscal year.
The debt service budget can also be used to manage repayment of shorter-term multi-year
debt. (Note that large capital projects may be funded by any combination of long term
borrowing, general fund appropriations, short-term borrowing, grants, special assessments,
special revenue fund appropriation, and donations to fully fund a given project. The debt
service budget addresses borrowed funds.
References:
Charter Section 3.2.3 Capital Plans (First Selectman)
Ordinance 2.04.170 - Budget Preparation and Submission (RTM)
Ordinance 2.04.180 - Appropriations (RTM)
Conn Statutes: C.G.S.A. § 7-369 et seq.

TOWN OF WATERFORD
FY2027 BUDGET REQUEST
RTMENT: DEBT SERVICE:
BUDGET SUMMARY
The FY27 budget request is $103,672 (1.30%) higher than fiscal year 2026 due to the new loan
for the approved Communications Upgrade Project.
PAST AND & FUTURE DEBT PAYMENTS
PAST AND FUTURE DEBT PAYMENTS
$7,564,394
$7,934,63
$8,148,250
$8,109,746
$7,964,500}
$6,374,3.
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Town of Waterford
Bonded Debt History
Original Issues
2007 G.0. Bonds — Additions and Renovations to Clark Lane Middle School $15,865,000
2009 G.0. Bonds — Additions and Renovations to Quaker Hill Elementary School $ 8,500,000
2011 6.0. Bonds — Additions and Renovations to Oswegatchie Elementary School $14,000,000
2012 6.0. Bonds — Additions and Renovations Great Neck Elementary School $15,640,000
2013 G.0. Bonds ~ Additions and Renovations to Waterford High School $33,750,000
2014 G.O. Bonds —Additions and Renovations to Waterford High School $13,700,000
Renovations Quaker Hill Elementary $851,545
Renovations Oswegatchie Elementary $720,425
Renovations Great Neck Elementary $ 658,030
Total $15,930,000
2020 G.0. Bonds ~ Municipal Complex Garage Addition and Renovations $13,655,000
Total Bonded $15,096,084
2025 Bank Note — State Radio Communications Conversion $3,600,000
‘$1,000,000 used from unassigned General Fund Balance
Refundir es
2014G.0. Refunding Bonds _Refunding of G.O. Bonds, Issue 2007 $9,440,000
Original 2007 issue $15,865,000 for Additions and Renovations to Clark Lane Middle School
2017 G.0. Refunding Bonds $14,585,000
Refunding of G.O. Bonds, Issue 2009 $ 4,900,000
Refunding of G.O. Bonds, Issue 2011 $ 7,350,000
Refunding of G.0. Bonds, issue 2013 $ 4,000,000
Total Refunded $16,250,000
2019 6.0. Refunding Bonds Refunding of G.0. Bonds, Issue 2012 $ 9,085,000
Total Refunded $10,375,000
2020.0. Refunding Bonds _Refunding of G.0. Bonds, Issue 2013 $17,585,000
Refunding of G.0. Bonds, Issue 2014 $10,115,000
Total Refunded $28,890,000

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OAS “Radio Upgrade
Page 1
‘Town of Waterford- 10-Vear Term - Preliminary
Compound Period: Monthly
Nominal Annual Rate: 3.960%
(CASH FLOW DATA
Event Dato ‘Amount Number Period End Date
1 tease 1170172025 ',600,000.00 7
2 LeasePayment 11/01/2026 444,569.56 40 Annual 11/01/2035
AMORTIZATION SCHEDULE - Normal Amortization, 360 Day Year
Date Lease Payment Interest Principat Balance
Tease 1170172025 600,000.00,
2025 Totals 0.00 0.00 0.00
1 11/01/2028 444,569.56 145,176.14 299,299.42 3,900,606.58
2026 Totols 404,569.56 145,176.14 299,399.42
2 11/01/2027 444,569.58 193,102.59 311,486.97 2,989,139.61
2027 Totols 444,569.58 193,102.59 311,486.97
3 1101/2028 444,569.56 120,542.15 324,027.41 2,665,112.20
2028 Totals 444,569.56 120,542.15 324,027.41
4 1101/2029 444,569.58 107,475.19 337,094.37 2,928,017.83
2029 Totals 444,569.58 107,475.19 337,094.37
5 11/01/2030 444,569.56 93,881.29 350,698.27 1,977,928.56
2030 Totals 444,569.56 93,881.29 350,688.27
6 11/01/2081 444,569.56 79,739.19 364,830.37 1,612,499.19
2031 Totals 444,569.56 79,739.19 364,830.37
7 \wow2032 444,569.56 65,026.78 379,542.78 1,282,986.41
2032 Totals 444,569.56 65,026.78 379,542.78
8 117012033 444,569.56 49,721.07 394,848.49 898,107.92
2033 Totals 444,569.56 49,721.07 394,848.49
8 11012036 444,569.56 33,798.13, 410,771.43 427,296.49
2034 Totals 444,569.56 33,798.13 410,771.43
10 11/01/2038 444,569.56 17,233.07 427,396.49 0.00
2036 Totals 444,569.56 17,233.07 427,336.49
Grand Totals 4,445,695.60 845,695.60 3,600,000.00

Ca
90 Avon Meadow Lane
‘Avon, CT 06001
(1) 860-321-7521
©) 860-321-7581
‘www.amteccorp.com,
American Municipal Tax: Exempt Conopliance
‘Town of Waterford (“Issuer”) Day Pimey, LLP (“Bond Counsel")
15 Rope Ferry Road 242 Trumbull Street
Waterford, CT 06385 Hartford, CT 06103,
Hilltop Securities Inc. (‘Financial Advisor”) Robert W. Baird & Co., Inc. (“Senior Manager”)
129 Samson Rock Drive, Suite A ‘One Harding Road, Suite 207
Madison, CT 06443 Red Bank, NJ 07701
US. Bank National Association
(‘Paying/Escrow Agent")
CityPlace I, 185 Asylum Street, 27" Floor
Hartford, CT 06103
Town of Waterford, Connecticut
General Obligation Refunding Bonds, Series 2020B (Federally Taxable)
‘The Town of Waterford, Connecticut proposes to issue the above referenced General Obligation Refunding
Bonds, Series 2020B (Federally Taxable) (the “Bonds”). The Bonds are dated December 30, 2020 and will be
issued on December 30, 2020. The Bonds consist of $28,890,000 Serial Bonds.
A portion of the proceeds of the Bonds will be used to purchase United States ‘Treasury Securities - State and
Local Government Series (the “Acquired Obligations”), together with an initial cash deposit, which will be
placed in an irrevocable escrow fund, to be used solely to refund that portion of the Issuer’s General Obligation
Bonds, Issue of 2013 and General Obligation Bonds, Issue of 2014 described below (collectively, the “Refunded
Bonds”).
Principal Principal Maturities Redemption Redemption
Series Issued Dated Refunded Refunded Date Price
2013 $33,750,000 31913 $17,585,000 BISM2w8NISRZ = BISA 100%
2014 $15,930,000 aT $10,115,000 3/ISR4w3NSB4 = NISRA 100%
At your request, we have independent!y calculated, based on information and assumptions as provided to us by
the Financial Advisor, thatthe receipts from the Acquired Obligations, along with the initial cash deposit, will be
sufficient to pay to and at redemption, the principal and interest on the Refunded Bonds.
‘At your request, we have independently verified the arithmetical accuracy of the computations based on
schedules provided to us by the Financial Advisor. We have relied solely on the assumptions and information,
as provided to us by the Financial Advisor, and have not made any study or evaluation of them, except as noted
below. We express no opinion on the reasonableness of the assumptions, or the likelihood that the debt service
requirements of the Refunded Bonds will be paid as described in the accompanying exhibits.

General Obligation Bonds, Issue of 2013
Maturity Amount Interest Redemption Redemption
Issue Dated Date __Dat Outstanding _Rate Date Price
2013 3/15/2013 8/15/2022 $1,755,000 2.000% 8/15/2021 10.00%
2013 3/15/2013 8/15/2023 1,955,000 2250 8/15/2021 100.00
2013 3/15/2013 8/15/2024 1,955,000 2250 8/15/2021 100.00
2013 3/18/2013 8/15/2025 2,000,000 2.500 8/15/2021 100.00
2013 3/15/2013 8/15/2028 2,000,000 3.250 8/15/2021 100.00
2013 3/15/2013 8/15/2029 2,000,000 3.000 8/15/2021 100.00
2013 3/15/2013 8/15/2030 2,000,000 3.000 8/15/2021 100.00
2013 3/15/2013 8/15/2031 —1,970,000 3.100 8/15/2021 100.00
2013 3/15/2013 8/15/2032 __ 1,950,000 3500 8/15/2021 100.00
17,585,000
General Obligation Bonds, Issue of 2014
Maturity Amount Interest Redemption Redemption
Issue Dated Date ___Date Outstanding Rate Date Price
2014 3/17/2014 3/15/2024 875,000 3.000 3/15/2022 100.00
2014 3/17/2014 15/2025 875,000 3.000 3/15/2022 100.00
2014 3/17/2014 3/15/2026 920,000 3.000 3/15/2022 100.00
2014 3/17/2014 3/18/2027 925,000 3.000 3/15/2022 100.00
2014 3/17/2014 3/15/2028 925,000 3.200 3/15/2022 100.00
2014 3/17/2014 3/15/2029 925,000 3250 3/15/2022 100.00
2014 3/17/2014 3/15/2030 925,000 3500 3/15/2022 100.00
2014 3/17/2014 3/15/2031 925,000 3.625 3/15/2022 100.00
2014 3/17/2014 3/15/2032 940,000 3.750 3/15/2022 100.00
2014 3/17/2014 3/15/2033 940,000 3.875 3/15/2022 100.00
2014 3/17/2014 3/15/2034 940,000 3875 3/15/2022 100.00
$10,115,000
Total... $27,700,000
Upon delivery of the Bonds, a portion of proceeds of the Bonds will be placed in an imevocable escrow fund (the
“Escrow Deposit Fund") established with U.S. Bank National Association, as escrow agent (the “Escrow Agent”)
under an Escrow Agreement (the “Escrow Agreement”) dated as of the date of delivery of the Bonds, between the
Escrow Agent and the Town. The Escrow Agent will use such proceeds to purchase a portfolio of non-callable direct
obligations guaranteed by the government of the United States of America, including United States Treasury State
and Local Government Series (“SLGS") securities, Federal National Mortgage Association ("FNMA") securities and
any other securities permitted by Section 7-400 of the Connecticut General Statutes, all of which shall not be callable
‘or prepayable at the option of the issuer of the securities (the “Escrow Securities") the principal of and interest on.
Which, when due, will provide amounts sufficient to pay the principal, interest and redemption premium on the
Refunded Bonds to the redemption dates or maturity (the “Escrow Requirements”). ll investment income on and
‘maturing principal of the Escrow Securities held in the Escrow Deposit Fund and needed to pay the principal, interest
and redemption premium on the Refunded Bonds will be irrevocably deposited by the Town for payment of the
Refunded Bonds. The balance of the proceeds of the Bonds will be used to pay costs of issuance and Underwriter’s
discount.

BQO Refund HOS § ory Refeency
(Finance 8.500)
Prepared by AMTEC
BOND DEBT SERVICE
Town of Waterford, Connecticut
General Obligation Refunding Bonds, Series 2020B (Federally Taxable)
Dated Date 12/30/2020
Delivery Date 123072020
Period Annual
Ending Principal Coupon Interest Debt Service Debt Service
02/15/2021 43,932.19 43,932.19
06/30/2021 43,932.19
08/15/2021 178,728.75 175,728.75
02/15/2022 178,728.75 175,728.75
06/30/2022 351,457.50
08/15/2022 1,180,000 0.290% 175,728.75 1,355,728.75
02/15/2023, 174,017.75 174,017.75
06/30/2023 1,529,746.50
08/15/2023, 3,195,000 0370% 174017.75_3,369,017.75
02/15/2024 168,107.00 168,107.00
06/30/2024 3,537,124.75
08/15/2024 3,135,000 0.620% 168,107.00 3,303,107.00
o2/is/2025 158,388.50 158,388.50
06/30/2025, 3,461,495.50
o8/1s/2025 3,180,000 0.780% 158,388.50 3,338,388.50
02/15/2026 145,986.50 145,986.50
06/30/2026 3,484,375.00
08/15/2026 1,150,000 1.030% 145,986.50 1,295,986.50
02/15/2027 140,064.00 140,064.00
06/30/2027 1,436,050.50
08/15/2027 1,135,000 1.190% 140,064.00 _1,275,064.00
02/15/2028, 133,310.75 133,310.75
06/30/2028 1,408,374.75,
os/is/2028 3,100,000 1.470% 133,310.75 3,233,310.75
02/15/2029 110,525.75, 140,525.75
06/30/2029 3,343,836.50
08/15/2029 3,055,000 1570% 110,525.75 3,165,525.75
02/15/2030 86,544.00 86,544.00
06/30/2030 3,252,069.75
08/15/2030 3,015,000 1.670% 86,544.00 3,101,544.00
02/15/2031 61,368.75 61,368.75
06/30/2031 3,162,912.75
08/15/2031 2,950,000 1.750% 61,368.75. 3,011,368.75
02/15/2032 35,556.25 35,556.25
06/30/2032 3,046,925.00
08/15/2032 2,890,000 1.850% 35,556.25 2,925,556.25
02/15/2033 8,823.75, 8,823.75
06/30/2033 2,934,380.00
08/15/2033 905,000 1.950% 8,823.75 913,823.75,
06/30/2034 913,823.75
28,890,000 3,016,504.44 31,906,504.44 —31,906,504.44
¢ — — a=
: AMIEG

CG
Prepared by AMTEC
(Finance 8.500)
PROOF OF ARBITRAGE YIELD
‘Town of Waterford, Connecticut
General Obligation Refunding Bonds, Series 2020B (Federally Taxable)
Present Value
to 12/30/2020
Date Debt Service Total @ 1.4572961436%
02/15/2021 43,932.19 43,932.19 43,852.52
og/1s/2021 175,728.75 175,728.75 174,141.21
02/15/2022 175,728.75 175,728.75 172,881.51
08/15/2022 4,355,728.75, 1,355,728.75, 1,324,114.49
02/15/2023 174,017.75 174,017.75, 168,730.38
08/15/2023, 3,369,017.75 3,369,017.75 3,243,022.95
02/15/2024 168,107.00 168,107.00 160,649.55
08/15/2024 3,303,107.00 3,303,107.00 3,133,742.84
02/15/2025 158,388.50 158,388.50 149,180.26
08/15/2025 3,338,388,50 3,338,388,50 3,121,559.22
02/15/2026 145,986.50 145,986.50 135,517.19
08/15/2026 1,295,986.50 1,295,986.50 1,194,343.28
02572027 140,064.00 140,064.00 128,145.16
08/15/2027 1,275,064.00 1,275,064.00 1,158,122.95
02/15/2028 133,310.75 133,310.75, 120,208.41
08/15/2028 3,233,310.75 3,233,310.75 2,894,437.11
02/15/2029 110,525.75 110,525.75 98,226.15
08/15/2029 3,165,525.75, 3,165,525.75 2,792,907.24
02/15/2030 86,544.00 86,544.00 75,804.44
08/15/2030 3,101,544.00 3,101,544.00 2,697,010 26
02/15/2031 61,368.75 61,368.75 52,978.41
08/15/2031 3,011,368.75 3,011,368.75, 2,580,848.91
02/15/2032 35,556.25 35,556.25 30,252.52
08/15/2032 2,925,556.25 2,925,556.25 2,471,161.24
02/15/2033, 8,823.75 8,823.75, 7399.34
08/15/2033, 913,823.75 913,823.75 760,762.44
31,906,504.44 31,906,504.44 28,890,000.00
Delivery date 12/30/2020
Par Value 28,890,000.00
‘Target for yield calculation 28,890,000.00
AMTEC
6

Prepared by AMTEC
6 SAVINGS
Town of Waterford, Connecticut
(Finance 8.500)
General Obligation Refunding Bonds, Series 2020B (Federally Taxable)
Present Value
Prior Refunding to 12/30/2020
Date DebtService Debt Service Savings @ 1.4572961%
06/30/2021 414,456.88 43,932.19 370,524.69 369,646.67
06/30/2022 828,913.76 351,457.50 477,456.26 471,023.82
06/30/2023 2,566,363.76 _1,529,746.50 1,036,617.26 —_—1,010,467.74
06/30/2024 3,601,820.01 3,$37,124.75 64,695.26 $3,335.62
06/30/2025 3,531,582.51 —3,461,495.50 70,087.01 $7,886.39
06/30/2026 3,548,338.76 — 3,484,375.00 63,963.76 $1,175.07
06/30/2027 1,500,738.76 —_1,436,050.50 64,688.26 51,149.35
06/30/2028 1,472,988.76 —1,408,374.75 64,614.01 50,421.74
06/30/2029 3,410,888.76 —3,343,836.50 67,052.26 52,068.28
06/30/2030 3,318,326.26 3,252,069.75 66,256.51 30,781.93,
06/30/2031 3,225,951.26 3,162,912.75 63,038.51 47 AIT.
06/30/2032 3,116,885.00 3,046,925.00 69,960.00 52,725.55
06/30/2033 2,996,975.00 _2,934,380.00 62,595.00 43,933.17
06/30/2034 976,425.00 913,823.75 62,601.25 45,369.31
34,$10,654.48 31,906,504.44 — 2,604,150.04 _2,409,402.34
€ Savings Summary
PV of savings from cash flow 2,409,402.34
Plus: Refunding funds on hand 3,869.32
Net PV Savings 2,413,271.66
2B AMTEC

Hitopsecuities FP
HitkopSecurt Municipal Complex
& 20NO DEBT service
Town of Waterford, Connecticut
General Obligation Bonds, Series 2020
FINAL NUMBERS
Perod
indeg rendeil’”_Colpin aren “Out sare
06/30/2021 306,175.56 306,175.56
06/30/2022 685,000 5.000% 457,975.00 1,142,975.00
vsjsop2oas—easo00 Sano aananen 1azazean
06/30/2024 685,000 5.000% 389,475.00 1,074,475.00
06/30/2025 685,000 $.000% 355,225.00 1,040,225,00
06/30/2026 685,000 5.000% 320,975.00 1,005,975.00
06/30/2027 685,000 286,725.00 971,725.00
06/30/2028 685,000 252,475.00 937,475.00
oersnjaoes Sas hiszs0o —gosaiee0
06/30/2030 685,000 187,400.00 872,400.00
06/30/2031 685,000 163,425.00 848,425.00
06/30/2032 685,000 142,875.00 827,875.00
06/30/2033 680,000 122,400.00 802,400.00
06/30/2034 680,000 105,400.00 785,400.00
06/30/2035 680,000 91,800.00 771,800.00
ceyao/2036 anand yezonoo —oeameo
06/30/2037 680,000 64,600.00 744,600.00
06/30/2038 680,000 50,575.00 730,575.00
veysoj2039 ——ganeoo seazsooheazean
06/30/2040 680,000 21,675.00 701,675.00
e& 06/30/2041 680,000 7225.00 687,225.00
"BASS 0 aoeng7556 an7a7e7as8
&
ut 8, 2020 12:16 pm Prepared by Hilkop Securities Ine. (nj) (Finance 8.500 Waterford, Connecticu:2020-2020_1) Page

negsres OP Municipal Complex
es)
‘BOND DEBT SERVICE
‘Town of Waterford, Connecticut
General Obligation Bonds, Series 2020
FINAL NUMBERS
pated onus
ending Pind Coupon Interest Debt Servien_Oebe Service
oxisraoas 3057556 7S
sons 306.556
eapisiaeni 85000 SomeK argo sz2s80.00
‘ox/as/2002 zanazs.co 12042800
owpsoy20r2 110.37500
consi 85.600 S000% © nan2s.00 sosezs.00
owss/2003 20330000 203,000
gjsao2s 100,725.00
onpas/zos 5000 s000% 20830000 wa 20000
oxfasyaone 186,175.00 186,175.00
os/sayzo2e 2074.75.09
onjssyzone 685000 S00K = aeet7S.00erLA7500
ox/asyaoas 36505000 16805000
6/sa/zoas 0102.09
congas 5000 S.000% 68,050.00 ss40s000
ox/ss/206 35492500 183.925.00
06/30/2026 2.005375. 00
om/asjz0ze 65.000 S00 ast. 925.00 36,828.00
o3/isj2027 t3q20000 —134800.00,
4/30/2027 snunsc0
oapasyao2y 685900 5.000% © 3680000 19,800.00
3/35/2028 1767500 117,87500
4/30/2028 su7475.00
ow/asfaoze 65.000 S000 © 17475.00—_n02.675.00
oss 30035000 30038000
6/30/2028 03.28.00
cm/isyioes 65.000 a00% © s00.$50.00
3/2080 5430.00 ¢
‘6/30/2030 37240000
9/5/2030 f4so00 3.000% ag as0.00 774,850.00
o4s/203% 7657500 76575.00
6/30/2033 25.00
caps. 5000 3.000% = 78575.00 76457500
as/2032 530000 66,300.00
6/2032 ara75.00
ajsiosz ——eamjooo 000% 6530000 65,2000,
oas/2033 5610000 $6,10000
5/30/2033 sozana00
eisnass §—eanoce 200% a t0000 © nae. 10000
os/isjnoe ‘930000 49.3000
oapson0se 75,400.00
emnsres ——eungee a0 © eg.acam 729, 30000
onpisyss ‘e000 «250000
6/30/2035 m00.00
wansiexs ——sancoo to = ansoago —-maa.scaeo
oss/203s 3570000 35,7000
os/sa036 73420000
wns =—euaco 200K a5, 70009 11870000
exs/zes? 230000 "2890000
4/so2037 7600.00
oafs2037 anos 225K 2490000890000
o3/s/z03s 2457500216750
ospso7ose 710595.00
crisis spook ang7seo—ron47s00
03/2039 4ss00 1443000
5/30/2039 6.28.00
cajisjwss—gngoa ase aasomo —esaasa00
on/s/2080 7250 7228.00
6/30/2080 70109500
exyisyreso soo arse raza esr 22800
eepso7041 61732500
13655;00 ouns75s6 U.T7STS56 WIN ATSSE
C ©
41018, 2020 12:26 pm Prepared by Hilkop Securities nc. (rb) (Finance &.500 Waterford, Connecticut:2020-2020_3) Page S

€
‘BOND DEBT SERVICE
Waterford Outstanding Debt Post 2019 Refunding
Period
Ending Principal Coupon Interest Debt Service
06/30/2021 5,060,000 ** % — 2,344,370.57 —_7,404,370.57
06/30/2022 5,155,000 “© % — 2,114,113.76 —_7,269,113.76
06/30/2023 5,200,000 ** % — 1,925,351.26 —_7,125,351.26
06/30/2024 5,400,000 ** % — 1,738,470.01~ 7,138,470.01
06/30/2025 5,605,000 ** % — 1,534,607.51 —_7,139,607.51
06/30/2026 5,700,000 ** % — 4,322,488.76 —_7,022,488.76
06/30/2027 5,485,000 ** % — 1,086,388.76 —_6,571,388.76
06/30/2028 4,650,000 % 851,513.76 —5,501,513.76
06/30/2029 4,910,000 -% 656,588.76 —5,566,588.76
06/30/2030 4,560,000 ona 491,626.26 §,051,626.26
06/30/2032 4,565,000 —% 333,751.26 4,898,751.26
06/30/2032 2,910,000 “% 206,885.00 3,116,885.00
06/30/2033 2,890,000 “% 106,975.00 2,996,975.00
06/30/2034 940,000 3.875% 36,425.00 976,425.00
63,030,000 14,749,555.67 _77,779,555.67
Jan 14, 2020 3:43 pm Prepared by HilltopSecurities (se)
(Finance 7.015 s:\...\Outstaning Debt Waterford 6-30-10:P052018) Paget

teases FR
DETAILED BOND DEBT SERVICE
‘Town of Waterford, Connecticut
2012 General Obligation Bonds - Post 2019 Refunding
Bond Component
‘Annual
Period Debt Debt
Ending Principal Interest Service Service
o o o 0
C
Jan 14, 2020 3:43 pm Prepared by HilltopSecurities (se) (Finance 7.015 s\..\Outstaning Debt Waterford 6-30-10:POST2019) Page 2

OIF Refund ioe
DETAILED BOND o¢er senvice
Town of Waterford, Connecticut
$9,085,000 General Obligation Bonds, Series 2019
Final Numbers
Bond Component
Perlod Annual
Ending Principal Coupon Interest Debt Service —_Debt Service
08/01/2020 655,000 4.000% 245,844.31 900,844.31
02/01/2021 196,625.00 196,625.00
06/30/2021 1,097,469.31
08/01/2021 700,000 5.000% 196,625.00 896,625.00
02/01/2022 179,125.00 179,125.00
06/30/2022 1,075,750.00
08/01/2022 715,000 5.000% 179,125.00 894,125.00
02/01/2023 161,250.00 161,250.00
06/30/2023 1,055,375.00
08/01/2023 675,000 5.000% 161,250.00 836,250.00
02/03/2024 144,375.00 144,375.00
06/30/2024 980,625.00
08/01/2024 855,000 5.000% 144,375.00 999,375.00
02/01/2025 123,000.00 123,000.00
06/30/2025 1,122,375.00
08/01/2025 870,000 5.000% 123,000.00 993,000.00
02/01/2026 101,250.00 101,250.00
06/30/2026 1,094,250.00
08/01/2026 885,000 5.000% 101,250.00 986,250.00
02/01/2027 79,125.00 79,125.00
06/30/2027 1,065,375.00
08/01/2027 905,000 5.000% 79,125.00 984,125.00
02/01/2028 56,500.00 56,500.00
06/30/2028 1,040,625.00
08/01/2028 915,000 4.000% 56,500.00 971,500.00
02/01/2029, 38,200.00 38,200.00
06/30/2029, 1,009,700.00
08/01/2029, 950,000 4.000% 38,200.00 988,200.00
02/01/2030 19,200.00 19,200.00
06/30/2030 1,007,400.00
08/01/2030 960,000 4.000% 19,200.00 979,200.00
06/30/2031 979,200.00
9,085,000 2,443,144.31 11,528,144.31 —11,528,144.31
Jan 14, 2020 3:43 pm Prepared by HilltopSecurites (sc) (Finance 7.015 s:\...\Outstaning Debt Waterford 6-30-10:P0ST2018) Page?

ed
'@)
@
Town of Waterford, Connecticut
GO Bonds, Issue of 2011 - Post 2017 Refunding
Bond Component
Period Annual
Ending Principal Coupon Interest Debt Service Debt Service
08/01/2020 735,000 2.500% 9,187.50 744,187.50
06/30/2021 (744,187.50
735,000 9,187.50 744,187.50 744,187.50
c
Jan 14, 2020. 3:43 pm Prepared by HiltopSecurities (sc)
(Finance 7.015 s\...\Outstaning Debt Waterford 6-30-10:P0ST2019) Page 8

HitttopSecurties FP
6 {fieapsecur : Pi 017 Befleoding.
DETAILED BOND DEBT SERVICE
‘Town of Waterford, Connecticut
{$14,585,000 General Obligation Refunding Bonds, Issue of 2017
Bond Component
Annual
Period Debt Debt
Ending Principal Coupon Interest Service Service
08/01/2020 325,000 3.000% 317,575 642,575
02/01/2021 312,700 312,700
96/30/2021 955,275
08/01/2021, 1,050,000 3.000% 312,700 1,362,700
02/01/2022 296,950 296,950
06/30/2022 1,659,650
08/01/2022 4,055,000 5.000% 296,950 1,351,950
02/01/2023 270,875 270,575
06/30/2023 1,622,525
08/01/2023 1,070,000 5.000% 270,575 1,340,575,
02/01/2024 243,825 243,825
06/30/2024 1,584,400
08/01/2024 1,085,000 5.000% 243,825 1,328,825,
02/01/2025 216,700 216,700
06/30/2025 1,545,525
98/01/2025 1,070,000 5.000% 216,700 1,286,700
02/01/2026 189,950 189,950
06/30/2026 1,476,650
08/01/2026 2,830,000 5.000% 189,950 3,019,950
02/01/2027 119,200 19,200
06/30/2027 3,139,150
08/01/2027 2,820,000 5.000% 119,200 2,939,200
02/01/2028 48,700 48,700
06/30/2028 2,987,900
08/01/2028 1,070,000 4.000% 48,700 1,118,700
02/01/2029 27,300 27,300
06/30/2023 1,146,000
08/01/2029 685,000 4.000% 27,300 712,300
02/01/2030 13,600, 13,600
06/30/2030 725,900
08/01/2030 680,000 4.000% 13,600 693,600
06/30/2031 693,600
13,740,000 3,796,575
17,536,575 17,836,575
&
Jan 14,2020 3:43 pm Prepared by HilltopSecurities (se
(iriance 7.015 3\.\Outstaning Debt Waterford 6-30-10:POST2019) Page 6

Hithopsecurtios FP
— i ed BO Refund inc
a)
DETAILED BOND DEBT SERVICE
‘Town of Waterford, Connecticut
$9,440,000 General Obligation Refunding Bonds, Issue of 2014
Bond Component
Period Annual
Ending Principat Coupon Interest Debt Service Debt Service
08/15/2