Board of Finance Regular Meeting Agenda (PDF)

FIFTEEN ROPE FERRY ROAD
WATERFORD, CT 06385-2886
BOARD OF FINANCE
AGENDA
Waterford Town Hall
Regular Meeting
PHONE: 860-442-0553
www.waterfordct.org
February 9, 2022
7:00 p.m.
1. Establishment of a quorum and call to order.
2. Public Comment.
Approval and acceptance of minutes from January 12, 2022
To consider and act on a request from Kimberly Allen, Director of Finance, for an
ez OlHY &- 834 AA
appropriation in the amount of $5,380 from Capital and Non-Recurring designated line
20547-57846 Wi-Fi Town Wide Wiring.
for an FY22 Out of Series Transfer as follows:
To consider and act on a request from Christine Walters, Director of Human Resources,
Account | Description Approved | Current Account Account Revised
Budget Available | Increase Decrease Available
Amount | Budget Budget
Amount Amount
10145- | Administration 125,548 110,815.69 (67,546) 43,269.69
51110
10145- | Clerical and 60,639 4,016.05 29,694 33,710
51210 Technical
10145- | Professional 54,000 0 37,852 37,852
52030 FeesTotal 67,546 (67,546)

Board of Finance Agenda, February 9, 2022
Page 2
6. Old Business:
7. New Business:
eoaos
Discussion of the FY 2021 Audit Report with representatives from
CliftonLarsonAllen, LLP (CLA).
Review of the Audit Report for FY 2021 by the Board of Finance.
Review of the 2022 Grand List Report from the Town Assessor.
Discussion of current Board of Finance Policies.
Select the Board of Finance School Building Committee Representative for the
balance of the current term through 6/30/2022.
Select the Board of Finance School Building Committee Representative for the
next term; 7/1/2022 — 6/30/2023.
8. Liaison Reports
9. Correspondence
of
American Rescue Funds Quarterly Report 10/1/2021 — 12/31/2021.
_ Abbas Danesh, Town Treasurer, Quarterly Treasurer’s Report ending 12/31/2021.
Virginia Bielucki, Town Accountant, Periodic Financial Statements FY22 dated
January 11, 2022.
Virginia Bielucki, Town Accountant, Status of General Fund Unassigned Balance
dated January 12, 2022.
Virginia Bielucki, Town Accountant, Status of Contingency FY22 dated January 20,
2022.
10. Adjournment
Glenn Patterson, Chairman

A
FIFTEEN ROPE FERRY ROAD
WATERFORD, CT 06385-2886
PHONE: 860-442-0553
www.waterfordct.org
January 18, 2022
Mr. Glenn Patterson
Chairman
Board of Finance
15 Rope Ferry Road
Waterford, CT 06385
Dear Chairman Patterson,
The Board of Selectmen, at their meeting on Tuesday, January 18, 2022 voted to approve the
following request for an appropriation,
Information Technology Committee: To consider and act on the following request for an
appropriation from the Director of Finance, Kim Allen in the amount of $5,380 from Capital and
Non-recurring designated line 20547-57846 Fiber Upgrade.
Therefore, I respectfully request that you consider and act on this requests. I have attached
pertinent back up material from the designated department.
Sincerely,
Robert Lrule
Robert Brule
First Selectman
ce: Kimberly Allen, Director of Finance

FIFTEEN ROPE BERRY ROAD
WATERFORD, CT 06385-2886
PHONE: 860-442-0553
wwwavaterfordclorg
December 29, 2021
Board of Selectmen
Town of Waterford
15 Rope Ferry Road
Waterford, CT 06385
Re: FY22 Praject Appropriation Request
On behalf of the Waterford IT Committee, | respectfully request an appropriation in the amount of
$5,380 from Capital and Non-recurring designated line 20507-57790 - Line Description (Wi-Fi Town-
Wide Wiring}.
Laying the conduit is the first step in the approved project. A quote for the work is attached for your
review.
Regards,
Kimberly Allen
Director of Finance
C: Jeff Robillard, IT Manager
Attachment (D/E/F Quote)

D/E/F Services Group, Ltd
1171 Voluntown Rd., Griswold, CT 06351
(860) 376 — 4896, Fax (860) 376 — 1213
(AA/EOB)
“The Value of One”
December 15, 2021 Low Voltage
SUBJECT: Town of Waterford Conduit Run At Waterford PD,
D/E/F Services Group, Ltd is proud to present the following propesal to Town of Waterford for labor and material
to install 4 inch PVC conduit in provided trench.
Project Scope
D/E/F will work with Waterford Dept, Of Public Works to install 4” PVC condult run from the existing
manhole/handhole on the Eastern edge of the parking lot (near the skate park) to the Eastern wall of
the Police Dept. (outside The Chief's Office)
o Conduit be run up the exterior wall and will end in the attic
Trench to be provided by WDPW and D/E/F will work with them to install the conduit
D/E/F will install PVC Pipe In the hand hole
o The current condition of the hand hole is not the responsibility of D/E/F and prior to installing
the PVG conduit, D/E/F Services Group highly recommends that any structural issues are
resolved
D/E/F to provide metallic burlal tape to be installed during the back filling of the trench
Labor Cost: $1,024.00 for 16 Manhours at $64.00
Material Cost: $2,904.00 for material {after a 1.0% markup is added)
Total Cost: 3,928.00
Cost for additional 4” conduit: $8,649.00
Cost for additional 2” conduit: $1,450.90
Statement of Clarifications and Exclusions:
eoeeee#teee
Bid Bond, Performance and Payment Bonds are exctuded
Installation of additional grounding methods/means is excluded
Any and all utility fees and/or usage charges for power is excluded
Dumpster, trash / debris ramoval from site is excluded
Saw-cut slab and Patch to Match is excluded
Any and all site work outside of scope is excluded
. Overtime / additional time caused by delays due to other trades or schedule acceleration is excluded
Additional work requested by customer will be performed on a Time & Material basis with labor at
current service rate ($85.00/hour at standard rates and $150.00/hour at prevailing wage rates) and
material at cost plus 20% with all applicable taxes and fees,
This proposal is contingent upon a complete scope review between the authorized personnel and
D/E/F Services to ensure overall project Intent.
Commercial Clarifications:
1.
N
oo w
For projects with an estimated completion time of forty-five (45) days or less, a down payment of 4/3 of
the contract total is due upon contract signing, Another payment of 1/3 of the contract total is due upon
completion of rough-in inspection. The remainder of the contract is to be paid out upon completion of
work,
For projects with an estimated completion time over forty-five (45) days, project billing will be monthly
or as a project section of unit is completed and payment Is required no more than net thirty (30) days,
Paid when paid will not be an acceptable contract option.
_Retention will not be more than 30 days / 90 days upon project substantial completion @ 7.5%
This proposal is valid for a period of thirty (30) days.
State of Connecticut sales tax fs exeluded in this proposal

7. Fee for required permits has been excluded
8. All work to be performed 7:00 AM to 3:30 PM Monday through Friday, excluding holidays and overtime.
Warrants:
Alf work is warranted for a period of one year from substantial completion.
Schedule:
D/E/F Services Group could be on site and prepared to start installation within (15) days after receipt of a
purchase order or notice to proceed.
if you have any questions regarding this proposal, please do not hesitate to call us.
Please sign and return this proposal (below) if this proposal is acceptable and you would like begin coordination
to proceed,
Regards,
’ David Hatch
Low Voltage Project Manager
DHatch@DEFsg.com
Direct # (860) 213-0081
D/E/F SERVICES GROUP: CUSTOMER:
By: By:
Name: ‘ Name:
Title: Title:
Date: Date:
Purchase
order:
To initiate order please
4, Fax back to 860.376-1213, or.
2. Email copy to dhtach@defwiring.com
Page 2 of 2

FIFTEEN ROPE FERRY ROAD
WATERFORD, CT 06385-2886
PHONE: 860-442-0553
www.waterfordct.org
January 18, 2022
Mr. Glenn Patterson
Chairman
Board of Finance
15 Rope Ferry Road.
Waterford, CT 06385
Dear Chairman Patterson,
The Board of Selectmen, at their meeting on Tuesday, January 18, 2022 voted to approve the
following request for an Out of Series Transfer;
Human Resources: To consider and act on the following request for an Out of Series Transfer
from the Director of Human Resources, Christine Walters in the amount of 67,546.
Therefore, I respectfully request that you consider and act on this requests. [have attached
pertinent back up material from the designated department.
Sincerely,
Robert rule
Robert Brule
First Selectman
co: Kimberly Allen, Director of Finance

TOWN OF WATERFORD
TRANSFER REQUEST FORM
Out of Series Transfer Request
HUMAN RESOURCES
DEPARTMENT
APPROVED CURRENT ACCOUNT ACGOUNT REVISED
Budget Available i Available
Line No, Org. Code Object Code Object Description Amount Budget Budget
1 10145 $1110 ADMINISTRATION 125,548 110,815.69 (67,546) 43,269.69
2 10145 51240 GLERICAL AND TECHNICAL 60,639 4,016.05 29,694 33,710
3 10145 52030 PROFESSIONAL FEES 54,000 0.00 37,852 37,852
4 Q
5 0
6 3)
7 Q
8 0
9 )
10 0
0
0
TOTAL 67,546 (67,546) .
Explanation
Interim HR Director and HR Administrative Asst Salaries were both charged to Line 51210 from July through December 2021. Interim HR Director was named
permanent HR Director and ihe remaining 25 weeks will be charged to line 61110. There will be a surplus in Line 51110 - $29,964 needs to be moved to
Line 64210 to cover the remaining 25 weeks of the Admin Asst salary and $37,852 needs to be moved to Line 52030 to cover increased légal fees due to
labor attorney working with the Interim HR Director and legal fees assoclaied with collective bargaining negotiations for expiring union contracts.
Christine Walters 12/29/2021
Department Head Date
Kim Alien 12/29/2021
Director of Finance Date
First Selectman Date
Commission/Board Approval Date
revised 9/9/20

12/29/2021 10:48
Town of Waterford, CT
kallen YEAR-TO-DATE BUDGET REPOR
FOR 2022 13
ACCOUNTS FOR: 101 GENERAL FUND
ORIGINAL APPROP TRANS /ADJSMTS REVISED BUDGET YPD EXPENDED ENCUMBRANCES AVA
10145 HUMAN RESOURCES
10145 51110 ADMINISTRATION
125,548.00 -700,00 124,848.00 14,032.31 0.00
10145 5427-0 CLERICAL AND TECHNICAL
60,639.00 0.00 60,639.00 56,622.95 0.06
10145 51810 OVERTIME
0.00 0.00 0.00 0.00 0.0
10145 51910 FRINGE BENEFITS
0.00 0.00 0.00 0.00 0.0
10145 51920 F.I.C.A.
14,243.00 0.00 14,243.00 5,116.92 0.00
10145 52010 8 ADVERTISING
; 4,000.00 0.00 4,000.00 1,166.00 0.00
10145 52020 POSTAGE
832.00 0.00 832.00 282.79 0.0
10145 52030 PROFESSIONAL FEES
54,900.00 0.00 54,000.00 34,301.97 19,698
10145 52040 SERVICE CONT AND REPAIRS
1,710.00 0.00 1, 710.00 531.64 602.1
10145 52050 DUES, CONFERENCES & EDUCATION
1,201.00 0.00 1,201.00 0.00 0.00
10145 52070 REIMBURSABLE EXPENSES
150.00 @.00 150.00 0.00 0.0
20145 52080 TELEPHONE
0.00 700.00 700.00 202.99 0.0
320745 .52390. TRAINING
500.00 0.00 500.00 0.00 0.0
10145 52570 EMPLOYEE ASSISTANCE PROGRAM
1,991.00 0.00 1,991.00 1,991.00 0.0
19145 53020 OTHER SUPPLIES
650.00 0.00 650.00 0.00 0.0
1014553140 VACCINE AND SUPPLIES ‘
200.00 0.00 200.00 0.00 0.0
1014554010 OFFICE FORNITURE
0.00 0.00 0.00 0.00 0.0
TOTAL HUMAN RESOURCES
265,664.00 0.00 265,664.00 114,248.57 20,300.16
TOTAL GENERAL FUND
265,664.00 ; 6.00 265,664.00 114,248.57 20,300.16
TOTAL EXPENSES
265,664.00 0.00 265,664.00 114,248.57 20,300.16

CliftonLarsonAllen LLP
CLAconnect.com
@
|
Board of Finance
Town of Waterford, Connecticut
We have audited the financial statements of the governmental activities, the business-type activities,
each major fund, and the aggregate remaining fund information of the Town of Waterford, Connecticut
as of and for the year ended June 30, 2021, and have issued our report thereon dated December 17,
2021. We have previously communicated to you information about our responsibilities under auditing
standards generally accepted in the United States of America, Government Auditing Standards, and Title
2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards (Uniform Guidance) and the Connecticut State Single Audit Act,
as well as certain information related to the planned scope and timing of our audit. Professional standards
also require that we communicate to you the following information related to our audit.
Significant audit findings
Qualitative aspects of accounting practices
Accounting policies
Management is responsible for the selection and use of appropriate accounting policies. The significant
accounting policies used by the Town of Waterford, Connecticut are described in Note 1 to the financial
statements.
The entity changed accounting policies related to fund classification by adopting Statement of
Governmental Accounting Standards (GASB Statement) No. 84, Fiduciary Activities, during the year.
Accordingly, the cumulative effect of the accounting change as of the beginning of the year is reported in
the Note 15.
We noted no transactions entered into by the entity during the year for which there is a lack of authoritative
guidance or consensus. All significant transactions have been recognized in the financial statements in
the proper period.
Accounting estimates
Accounting estimates are an integral part of the financial statements prepared by management and are
based on management's knowledge and experience about past and current events and assumptions
about future events. Certain accounting estimates are particularly sensitive because of their significance
to the financial statements and because of the possibility that future events affecting them may differ
significantly from those expected. The most sensitive estimate(s) affecting the financial statements was
were:
e Management's estimate of the net pension liability is based on an actuarial valuation utilizing
various assumptions and estimates approved by management.
e Management's estimate of the net other post-employment benefit (OPEB) liability is based on an
actuarial valuation utilizing various assumptions and estimates approved by management.
.
Nexia accounting and consulting firms. See nexia.com/member-firm-disclaimer for details.
® A member of CLA is an independent member of Nexia international, a leading, global network of independent
International

Board of Finance
Town of Waterford, Connecticut
Page 2
e Management's estimate of the useful lives of governmental activities and business-type activities
capital assets, which are used in computing depreciation in the government-wide and proprietary
fund financial statements.
e Management’s estimate of the allowance for doubtful accounts related to taxes receivable is
based on certain historical data and currently known information.
* Management's estimate of the incurred but not reported liability associated with the Town of
Waterford, Connecticut’s self-insurance program is based on historical claims information as
prepared by Anthem Blue Cross Blue Shield and approved by management.
e Management's estimate of the landfill post-closure costs is based on estimates as prepared by
an engineering firm and approved by management.
We evaluated the key factors and assumptions used to develop the above estimates in determining
that they are reasonable in relation to the financial statements taken as a whole.
Financial statement disclosures
Certain financial statement disclosures are particularly sensitive because of their significance to financial
statement users. There were no particularly sensitive financial statement disclosures.
The financial statement disclosures are neutral, consistent, and clear.
Difficulties encountered in performing the audit
We encountered no significant difficulties in dealing with management in performing and completing our
audit.
Uncorrected misstatements
Professional standards require us to accumulate all misstatements identified during the audit, other than
those that are clearly trivial, and communicate them to the appropriate level of management.
Management did not identify and we did not notify them of any uncorrected financial statement
misstatements.
Corrected misstatements
Management did not identify and we did not notify them of any financial statement misstatements
detected as a result of audit procedures.
Disagreements with management
For purposes of this letter, a disagreement with management is a financial accounting, reporting, or
auditing matter, whether or not resolved to our satisfaction, that could be significant to the financial
statements or the auditors’ report. No such disagreements arose during our audit.
Management representations
We have requested certain representations from management that are included in the management
representation letter dated December 17, 2021.

Board of Finance
Town of Waterford, Connecticut
Page 3
Management consultations with other independent accountants
In some cases, management may decide to consult with other accountants about auditing and accounting
matters, similar to obtaining a “second opinion” on certain situations. If a consultation involves application
of an accounting principle to the entity’s financial statements or a determination of the type of auditors’
opinion that may be expressed on those statements, our professional standards require the consulting
accountant to check with us to determine that the consultant has all the relevant facts. To our knowledge,
there were no such consultations with other accountants.
Significant issues discussed with management prior to engagement
We generally discuss a variety of matters, including the application of accounting principles and auditing
standards, with management each year prior to engagement as the entity's auditors. However, these
discussions occurred in the normal course of our professional relationship and our responses were not a
condition to our engagement.
Other information in documents containing audited financial statements
With respect to the required supplementary information (RSI) accompanying the financial statements, we
made certain inquiries of management about the methods of preparing the RSI, including whether the
RSI has been measured and presented in accordance with prescribed guidelines, whether the methods
of measurement and preparation have been changed from the prior period and the reasons for any such
changes, and whether there were any significant assumptions or interpretations underlying the
measurement or presentation of the RSI. We compared the RSI for consistency with management's
responses to the foregoing inquiries, the basic financial statements, and other knowledge obtained during
the audit of the basic financial statements. Because these limited procedures do not provide sufficient
evidence, we did not express an opinion or provide any assurance on the RSI.
With respect to the schedule of expenditures of federal awards (SEFA) and the schedule of expenditures
of state financial assistance (SESFA) accompanying the financial statements, on which we were engaged
to report in relation to the financial statements as a whole, we made certain inquiries of management and
evaluated the form, content, and methods of preparing the SEFA and the SESFA to determine that the
SEFA and the SESFA comply with the requirements of the Uniform Guidance and the Connecticut State
Single Audit Act, respectively, the method of preparing has not changed from the prior period or the
reasons for such changes, and the SEFA and SESFA are appropriate and complete in relation to our
audit of the financial statements. We compared and reconciled the SEFA and the SESFA to the
underlying accounting records used to prepare the financial statements or to the financial statements
themselves. We have issued our report thereon dated December 17, 2021.
With respect to the supplemental, combining and individual fund statements and schedules (collectively,
the supplementary information) accompanying the financial statements, on which we were engaged to
report in relation to the financial statements as a whole, we made certain inquiries of management and
evaluated the form, content, and methods of preparing the information to determine that the information
complies with accounting principles generally accepted in the United States of America, the method of
preparing it has not changed from the prior period or the reasons for such changes, and the information
is appropriate and complete in relation to our audit of the financial statements. We compared and
reconciled the supplementary information to the underlying accounting records used to prepare the
financial statements or to the financial statements themselves. We have issued our report thereon dated
December 17, 2021.

Board of Finance
Town of Waterford, Connecticut
Page 4
The introductory and statistical section accompanying the financial statements, which is the responsibility
of management, was prepared for purposes of additional analysis and is not a required part of the
financial statements. Such information was not subjected to the auditing procedures applied in the audit
of the financial statements, and, accordingly, we did not express an opinion or provide any assurance on
it.
Our auditors’ opinion, the audited financial statements, and the notes to financial statements should only
be used in their entirety. Inclusion of the audited financial statements in a document you prepare, such
as an annual report, should be done only with our prior approval and review of the document.
kK
This communication is intended solely for the information and use of the Board of Finance and
management of the Town of Waterford, Connecticut and is not intended to be, and should not be, used
by anyone other than these specified parties.
Leaf tan Larson pllon. LL
CliftonLarsonAllen LLP
West Hartford, Connecticut
December 17, 2021

TOWN OF WATERFORD, CONNECTICUT
STATE SINGLE AUDIT REPORT
JUNE 30, 2021
WEALTH ADVISORY. |.OUTSOURCING
AUDIT, TAX, AND CONSULTING
CLAconnect.com

TOWN OF WATERFORD, CONNECTICUT
STATE SINGLE AUDIT REPORT
JUNE 30, 2021
TABLE OF CONTENTS
Independent Auditors’ Report on Compliance for Each Major State Program; Report on
Internal Control over Compliance; and Report on the Schedule of Expenditures of
State Financial Assistance Required by the State Single Audit Act
Schedule of Expenditures of State Financial Assistance
Notes to Schedule of Expenditures of State Financial Assistance
Independent Auditors’ Report on Internal Control over Financial Reporting and on
Compliance and Other Matters Based on an Audit of Financial Statements Performed
in Accordance with Government Auditing Standards
Schedule of Findings and Questioned Costs
1-3
4-5
7-8

CliftonLarsonAllen LLP
2 Al CLAconnect.com
t
Independent Auditors’ Report on Compliance for Each Major
State Program; Report on Internal Control Over Compliance;
and Report on the Schedule of Expenditures of State Financial
Assistance Required by the State Single Audit Act
To the Members of the Board of Finance
Town of Waterford, Connecticut
Report on Compliance for Each Major State Program
We have audited the Town of Waterford, Connecticut’s compliance with the types of compliance
requirements described in the Office of Policy and Management's Compliance Supplement that could
have a direct and material effect on each of the Town of Waterford, Connecticut's major state programs
for the year ended June 30, 2021. The Town of Waterford, Connecticut's major state programs are
identified in the summary of auditors’ results section of the accompanying schedule of findings and
questioned costs.
Management's Responsibility
Management is responsible for compliance with the requirements of laws, regulations, contracts and
grants applicable to its state programs.
Auditors’ Responsibility
Our responsibility is to express an opinion on compliance for each of the Town of Waterford,
Connecticut’s major state programs based on our audit of the types of compliance requirements referred
to above. We conducted our audit of compliance in accordance with auditing standards generally
accepted in the United States of America; the standards applicable to financial audits contained in
Government Auditing Standards, issued by the Comptroller General of the United States; and the State
Single Audit Act (C.G.S. Sections 4-230 to 4-236). Those standards and the State Single Audit Act
require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance
with the types of compliance requirements referred to above that could have a direct and material effect
on a major state program occurred. An audit includes examining, on a test basis, evidence about the
Town of Waterford, Connecticut's compliance with those requirements and performing such other
procedures as we considered necessary in the circumstances.
We believe that our audit provides a reasonable basis for our opinion on compliance for each major state
program. However, our audit does not provide a legal determination of the Town of Waterford,
Connecticut’s compliance.
© A lexia CLA is an independent member of Nexia international, a leading, global network of independent
accounting and consulting firms. See nexia.com/member-firm-disclaimer for details.
1
International

Opinion on Each Major State Program
In our opinion, the Town of Waterford, Connecticut, complied, in all material respects, with the types of
compliance requirements referred to above that could have a direct and material effect on each of its
major state programs for the year ended June 30, 2021.
Report on Internal Control over Compliance
Management of the Town of Waterford, Connecticut, is responsible for establishing and maintaining
effective internal control over compliance with the types of compliance requirements referred to above.
In planning and performing our audit of compliance, we considered the Town of Waterford, Connecticut's
internal control over compliance with the types of requirements that could have a direct and material
effect on each major state program to determine the auditing procedures that are appropriate in the
circumstances for the purpose of expressing an opinion on compliance for each major state program and
to test and report on internal contro! over compliance in accordance with the State Single Audit Act, but
not for the purpose of expressing an opinion on the effectiveness of internal control over compliance.
Accordingly, we do not express an opinion on the effectiveness of the Town of Waterford, Connecticut's
internal control over compliance.
A deficiency in internal control over compliance exists when the design or operation of a control over
compliance does not allow management or employees, in the normal course of performing their assigned
functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a
state program on a timely basis. A material weakness in internal contro! over compliance is a deficiency,
or a combination of deficiencies, in internal control over compliance such that there is a reasonable
possibility that material noncompliance with a type of compliance requirement of a state program will not
be prevented, or detected and corrected on a timely basis. A significant deficiency in internal control over
compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a
type of compliance requirement of a state program that is less severe than a material weakness in internal
control over compliance yet important enough to merit attention by those charged with governance.
Our consideration of internal control over compliance was for the limited purpose described in the first
paragraph of this section and was not designed to identify all deficiencies in internal control over
compliance that might be material weaknesses or significant deficiencies. We did not identify any
deficiencies in internal control over compliance that we consider to be material weaknesses. However,
material weaknesses may exist that have not been identified.
The purpose of this report on internal control over compliance is solely to describe the scope of our testing
of internal control over compliance and the results of that testing based on the requirements of the State
Single Audit Act. Accordingly, this report is not suitable for any other purpose.

Report on Schedule of Expenditures of State Financial Assistance Required by the State Single
Audit Act
We have audited the financial statements of the governmental activities, the business-type activities,
each major fund and the aggregate remaining fund information of the Town of Waterford, Connecticut,
as of and for the year ended June 30, 2021, and the related notes to the financial statements, which
collectively comprise the Town of Waterford, Connecticut's basic financial statements. We issued our
report thereon dated December 17, 2021, which contained unmodified opinions on those financial
statements. Our audit was conducted for the purpose of forming opinions on the financial statements
that collectively comprise the basic financial statements. The accompanying schedule of expenditures
of state financial assistance is presented for purposes of additional analysis as required by the State
Single Audit Act and is not a required part of the basic financial statements. Such information is the
responsibility of management and was derived from and relates directly to the underlying accounting and
other records used to prepare the basic financial statements. The information has been subjected to the
auditing procedures applied in the audit of the financial statements and certain additional procedures,
including comparing and reconciling such information directly to the underlying accounting and other
records used to prepare the basic financial statements or to the basic financial statements themselves,
and other additional procedures in accordance with auditing standards generally accepted in the United
States of America. In our opinion, the schedule of expenditures of state financial assistance is fairly
stated in all material respects in relation to the basic financial statements as a whole.
Lif tinLarsrdllon. LLP
CliftonLarsonAllen LLP
West Hartford, Connecticut
December 17, 2021

TOWN OF WATERFORD, CONNECTICUT
SCHEDULE OF EXPENDITURES OF STATE FINANCIAL ASSISTANCE
FOR THE YEAR ENDED JUNE 30, 2021
State Grantor/Pass-Through Grantor/
Program Title
State Grant Program
Core-CT Number
Expenditures
Department of Education
Talent Development
Child Nutrition State Match
Health Foods Initiative
Adult Education
Health & Welfare - Private School Pupil
School Breakfast Program
Total Department of Education
Department of Social Services
Medicaid
Connecticut State Library
Historic Document Preservation
Department of Children and Families
Youth Service Bureaus
Youth Service Bureau Enhancement
Total Department of Children and Families
Department of Transportation
Town Aid Road-STO
Town Aid Road Grants-Municipal
Total Department of Transportation
Department of Emergency Services and Public Protection
Drug Asset Forfeiture Revolving Account
Enhanced 911 Telecommunications Fund
Nuclear Emergency Safety Fund
Total Department of Emergency Services and Public Protection
The accompanying notes are an integral part of this schedule
4
11000-SDE64370-12552
11000-SDE64370-16211
11000-SDE64370-16212
11000-SDE64370-17030
11000-SDE64370-17034
11000-SDE64370-17046
11000-DSS60000-16020
12060-CSL66094-35150
11000-DCF91141-17052
11000-DCF91141-17107
13033-DOT57131-43459
42052-DOT57 131-43455
12060-DPS32155-35142
42060-DPS32741-35190
12060-DPS32982-90428
$
1,075
8,538
16,446
13,643
6,359
13,578
59,639
62,310
5,500
14,189
10,720
24,909
160,434
160,434
320,868
18,081
22,805
133,310
174,196

TOWN OF WATERFORD, CONNECTICUT
SCHEDULE OF EXPENDITURES OF STATE FINANCIAL ASSISTANCE (CONTINUED)
FOR THE YEAR ENDED JUNE 30, 2021
State Grantor/Pass-Through Grantor/
Program Title
State Grant Program
Core-CT Number
Expenditures
Office of Policy and Management
Reimbursement Towns - Tax Loss on State Owned Property 11000-OPM20600-17004
Reimbursement Towns - Private Tax Exempt Property 11000-OPM20600-17006
Reimbursement Property Tax - Disability Exemption 11000-OPM20600-17011
Property Tax Relief for Veterans 11000-OPM20600-1 7024
Municipal Purposes & Projecis 12052-OPM20600-43587
Local Capital Improvement 12050-OPM20600-40254
Total Office of Policy and Management
Economic and Community Development
Economic Assistance Bond Fund 12034-ECD46200-40221
Historic Preservation Activities Grants 12060-ECD46840-90455
Total Economic and Community Development
Total State Financial Assistance Before Exempt Programs
Exempt Programs
Department of Education
Education Cost Sharing 11000-SDE64370-17041-82010
11000-SDE64370-17047
11000-SDE64370-17047
Excess Cost - Student Based
Excess Cost - Student Based
Total Department of Education
Total Exempt Programs
Total State Financial Assistance
The accompanying notes are an integral part of this schedule
5
$ 143,075
109,838
1,919
8,503
34,255
100,497
398,087
219,239
§,000
224,239
1,269,748
316,189
149,687
340,059
489,746
805,935
805,935
$ 2,075,683

TOWN OF WATERFORD, CONNECTICUT
NOTES TO SCHEDULE OF EXPENDITURES OF STATE FINANCIAL ASSISTANCE
FOR THE YEAR ENDED JUNE 30, 2021
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
The accompanying schedule of expenditures of state financial assistance (the Schedule) includes the
state grant activity of the Town of Waterford, Connecticut, under programs of the State of Connecticut for
the year ended June 30, 2021. Various departments and agencies of the State of Connecticut have
provided financial assistance through grants and other authorizations in accordance with the General
Statutes of the State of Connecticut. Because the Schedule presents only a selected portion of the
operations of the Town of Waterford, Connecticut, it is not intended to, and does not, present the financial
position, changes in fund balance, changes in net position or cash flows of the Town of Waterford,
Connecticut.
Basis of Accounting
The accounting policies of the Town of Waterford, Connecticut, conform to accounting principles
generally accepted in the United States of America as applicable to governmental organizations. The
information in the Schedule is presented based upon regulations established by the State of Connecticut,
Office of Policy and Management.
Expenditures reported on the Schedule are presented on the modified accrual basis of accounting. In
accordance with Section 4-236-22 of the Regulations to the State Single Audit Act, certain grants are not
dependent on expenditure activity and, accordingly, are considered to be expended in the fiscal year of
receipt. These grant program receipts are reflected in the expenditures column of the Schedule.

CliftonLarsonAllen LLP
Ee {\ CLAconnect.com
,
Independent Auditors’ Report on Internal Control over
Financial Reporting and on Compliance and Other Matters
Based on an Audit of Financial Statements Performed in
Accordance with Government Auditing Standards
To the Members of the Board of Finance
Town of Waterford, Connecticut
We have audited, in accordance with the auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States, the financial statements of the governmental
activities, the business-type activities, each major fund and the aggregate remaining fund information of
the Town of Waterford, Connecticut, as of and for the year ended June 30, 2021, and the related notes
to the financial statements, which collectively comprise the Town of Waterford, Connecticut's basic
financial statements, and have issued our report thereon dated December 17, 2021.
Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the Town of Waterford,
Connecticut's internal control over financial reporting (internal control) as a basis for designing audit
procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the
financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Town
_of Waterford, Connecticut's internal control. Accordingly, we do not express an opinion on the
effectiveness of the Town of Waterford, Connecticut's internal control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent, or
detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control such that there is a reasonable possibility that a material
misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a
timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control
that is less severe than a material weakness yet important enough to merit attention by those charged
with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this
section and was not designed to identify all deficiencies in internal control that might be material
weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any
deficiencies in internal control that we consider to be material weaknesses. However, material
weaknesses may exist that have not been identified.
A member of CLA is an independent member of Nexia international, a leading, globa! network of independent
7.
exia accounting and consulting firms. See nexia.com/member-firm-disclaimer for details.
International

Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Town of Waterford, Connecticut’s financial
statements are free from material misstatement, we performed tests of its compliance with certain
provisions of laws, regulations, contracts and grant agreements, noncompliance with which could have
a direct and material effect on the financial statements. However, providing an opinion on compliance
with those provisions was not an objective of our audit, and, accordingly, we do not express such an
opinion. The results of our tests disclosed no instances of noncompliance or other matters that are
required to be reported under Government Auditing Standards.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance
and the results of that testing, and not to provide an opinion on the effectiveness of the | own of Waterford,
Connecticut’s internal control or on compliance. This report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the Town of Waterford, Connecticut's
internal control and compliance. Accordingly, this communication is not suitable for any other purpose.
Cif tivLarver lan LLP
CliftonLarsonAllen LLP
West Hartford, Connecticut
December 17, 2021

TOWN OF WATERFORD, CONNECTICUT
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FOR THE YEAR ENDED JUNE 30, 2021
I. SUMMARY OF AUDITORS’ RESULTS
Financial Statements
Type of auditors’ report issued: Unmodified
Internal control over financial reporting:
e¢ Material weakness(es) identified? yes x no
e Significant deficiency(ies) identified? yes Xx none reported
Noncompllance materlal to financlal statements noted? yes X no
State Financial Assistance
Internal control over major programs:
e Material weakness(es) identified? yes xX no
e Significant deficiency(ies) identified? yes X none reported
Type of auditors’ report issued on compliance for major programs: Unmodified
Any audit findings disclosed that are required to be reported
in accordance with Section 4-236-24 of the Regulations to the
State Single Audit Act? yes xX no
The following schedule reflects the major programs included in the audit:
State Grantor and Program State Core-CT Number Expenditures
Department of Transportation:
Town Aid Road Grants - Municipal 12052-DOT57131-43455 $ 160,434
Town Aid Road - STO 13033-DOT57131-43459 160,434
Office of Policy and Management:
Local Capital Improvement 12050-OPM20600-40254 100,497
Reimbursement Towns - Tax Loss on State 11000-OPM20600-1 7004 143,075
Owned Property
Reimbursement Towns - Private 11000-OPM20600-17006 109,838
Tax Exempt Property
Dollar threshold used to distinguish between type A and type B programs: $ 200,000
ll. FINANCIAL STATEMENT FINDINGS
No matters were reported.
lll. STATE FINANCIAL ASSISTANCE FINDINGS AND QUESTIONED COSTS
No matters were reported.

cS

Town of Waterford, Connecticut
Annual Comprehensive Financial Report
FOR THE FISCAL YEAR ENDED
JUNE 30, 2021
Department of Finance
Kimberly Allen
Director of Finance

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Introductory Section

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TOWN OF WATERFORD, CONNECTICUT
TABLE OF CONTENTS
JUNE 30, 2021
Introductory Section Page
Table of Contents i-ii
Organizational Chart iii
List of Elected and Appointed Officiais iv
Transmittal Letter v-ix
Financial Section
Independent Auditors’ Report 1-3
Management’s Discussion and Analysis 4-12
Basic Financial Statements
Exhibit
Government-Wide Financial Statements:
| Statement of Net Position 13
{I Statement of Activities 14
Fund Financial Statements:
Hl Balance Sheet - Governmental Funds 15-16
IV Statement of Revenues, Expenditures and Changes in Fund Balances -
Governmental! Funds 17-18
V Statement of Net Position - Proprietary Funds 19
Vl Statement of Revenues, Expenses and Changes in Net Position -
Proprietary Funds 20
Vil Statement of Cash Flows - Proprietary Funds 21
Vill Statement of Net Position - Fiduciary Funds 22
IX Statement of Changes in Net Position - Fiduciary Funds 23
Notes to Financial Statements 24-68
Required Supplementary Information
RSI-1 Schedule of Revenues and Other Financing Sources - General Fund - Budgetary
Basis 69-70
RSI-2 Schedule of Expenditures and Other Financing Uses Budget and Actual -
General Fund - Budgetary Basis 71-74
RSI-3 Schedule of Changes in Net Pension Liability and Related Ratios -
Pension Trust Fund 75
RSI-4 Schedule of Employer Contributions - Pension Trust Fund 76
RSI-5 Schedule of Investment Returns - Pension Trust Fund 77
RSI-6 Schedule of the District's Proportionate Share of the Net Pension Liability -
Municipal Employees Retirement System 78
RSI-7 Schedule of Employer Contributions - Municipal Employees Retirement System 79
RSI-8 Schedule of the Town's Proportionate Share of the Net Pension Liability -
Teachers Retirement System 80
RSI-9 Schedule of Changes in the Net OPEB Liability and Related Ratios - OPEB
Trust Fund 81

Exhibit Page
RSI-10 Schedule of Employer Contributions - OPEB Trust Fund 82
RSI-11 Schedule of Investment Returns - OPEB Trust Fund 83
RSI-12 Schedule of the Town’s Proportionate Share of the Net OPEB Liability -
Teachers Retirement System 84
Supplemental, Combining and Individual Fund Statements and Schedules
General Fund:
A-1 Schedule of Expenditures and Encumbrances Compared with Appropriations 85
A-2 Report of Tax Collector - General Fund 86
A-3 Schedule of Water Main Assessments Receivable - General Fund 87
A-4 Schedule of Sewer Assessments Receivable - General Fund 88
Nonmajor Governmental Funds:
B-1 Combining Balance Sheet - Nonmajor Government Funds 89-92
B-2 Combining Statement of Revenues, Expenditures and Changes in Fund Balances
- Nonmajor Governmental Funds 93-97
Fiduciary Funds:
C-1 Combining Statement of Fiduciary Net Position - Pension and Other 98
Employee Benefit Trust Funds
C-2 Combining Statement of Changes in Fiduciary Net Position - Pension and Other
Employee Benefit Trust Funds 99
Statistical Section
Table
Financial Trends:
1 Net Position by Component 100
2 Changes in Net Position 101-102
3 Fund Balances of Governmental Funds 103
4 Revenues, Expenditures and Changes in Fund Balances - Governmental Funds 104
Revenue Capacity:
5 Assessed Value and Estimated Actual Value of Taxable Property 105
6 Principal Property Taxpayers 106
7 Property Tax Levies and Collections 107
Debt Capacity:
8 Ratio of Outstanding Debt by Type 108
9 Schedule of Debt Limitation 109
10 Legal Debt Margin Information 110
Demographic and Economic Statistics:
11 Demographic and Economic Statistics 111
{2 Principal Employers 112
Operating Information:
13 Full-Time Equivalent Government Employees by Function/Program 113
14 Operating Indicators by Function/Program 114
15 Capital Asset Statistics by Function/Program 115

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Town of Waterford, Connecticut
Principal Town Officials
As of June 30, 2021
Robert J. Brule, Jr. 
First Selectman
‘Thomas W. Giard Ill Superintendent of Schools
Kimberly Allen Director of Finance
Abbas Danesh Treasurer
Abby Piersall Planning Director
Gary Schneider Director of Public Works
Brett Mahoney Chief of Police
Neftali Soto Chief Engineer, Utilities Commission
Alan Wilensky Tax Collector
Vacant Assessor
Brian Flaherty Recreation & Parks Director
Lisa Cappuccio , Director of Senior Services
David Campo Town Clerk
Daniela Gorman Director of Youth Services
John Murphy Building Official
Christine Johnson Library Director
Michael Howley Director of Fire Services
Vacant Director of Human Resources

FIFTEEN ROPE FERRY ROAD WATERFORD, CT 06385-2886
December 17, 2021
To the Honorable First Selectman, Representative Town Meeting and the Citizens
of the Town of Waterford:
State law requires that every general-purpose local government publish within six
months of the close of each fiscal year a complete set of audited financial
statements. This report is published to fulfill that requirement for the fiscal year
ended June 30, 2021.
Management assumes full responsibility for the completeness and reliability of the
information contained in this report, based upon a comprehensive framework of
internal control that it has established for this purpose. Because the cost of internal
control should not exceed anticipated benefits, the objective is to provide
reasonable, rather than absolute, assurance that the financial statements are free
of any material misstatements.
CliftonLarsonAllen LLP (CLA), Certified Public Accountants, have issued an
unqualified opinion on the Town of Waterford financial statements for the year
ended June 30, 2021. The independent auditors’ report is located at the front of
the financial section of this report.
Management Discussion and Analysis (MD&A) immediately follows the independent
auditor’s report and provides a narrative introduction, overview and analysis of the
basic financial statements. The MD&A complements this letter of transmittal and
should be read in conjunction with it.
Profile of the Government
The Town of Waterford separated from the City of New London, the neighboring
urban seaport, a century and a half after European settlers arrived. Waterford was
incorporated in 1801. Covering an area of 33.2 square miles, the Town is located
in the southeastern region of the state. Waterford is bordered by the Towns of East
Lyme to the west, New London, Groton and Ledyard to the east, and Montville to
the north. It borders Long Island Sound to the south.
The Town has a Selectmen/Board of Finance/Representative Town Meeting form of
government. The Representative Town Meeting exercises the legislative authority
of the Town. The Board of Selectmen is composed of three members who are

elected at large for four-year terms. The Representative Town Meeting is elected
for two-year terms. The First Selectman is the head of the administrative branch of
the Town Government and is responsible to the Representative Town Meeting for
the administration of all affairs relating to the Town.
The Town of Waterford provides a full range of services, including police and fire
protection; the construction and maintenance of highways, streets and other
infrastructure; municipal solid waste and recycling collection; recreational and
cultural activities. Municipal water and sewer services, the Town’s one business-
type activity, are provided through the Town's Utility Commission.
By Charter, the Representative Town Meeting must hold its Town Budget Meeting
no later than the first Monday in May each year. If, within fifteen days of the budget
adoption no referendum is called, the budget is considered approved. The annual
budget serves as (the foundation for Town of Waterford financial planning and
control. The budget is prepared by Department/Agency at an object level. With the
exception of the Police, Recreation and Parks, Senior Services, Utility and Planning
and Zoning Commissions, Board of Finance, Board of Education, Board of
Assessment Appeals, Zoning Board of Appeals, Building Board of Appeals,
Economic Development Commission, Flood & Erosion Control Board, Conservation
Commission, Retirement Commission, Harbor Management Commission and Ethics
Commission, all other Town Boards, Commissions or agencies report to the Board
of Selectmen. The Board of Selectmen, howe