Board of Finance Delays Bonding Vote

The Suffield Board of Finance delayed voting on on Monday night, although the finance board’s response to the projects was generally positive.

The Board of Finance postponed approving the projects, at a total cost of $13.2 million (with an additional $1.5 million in outside funds for the library), to compose a memorandum of understanding, to be approved by the Boards of Education, Finance and Selectmen. The memorandum will be an agreement between the boards to limit operating budgets over the coming years. The restriction aims to offset the tax increase that would accompany approval of the bonding projects.

“I think we’re agreeing to minimize [operation] budgets to keep that tax increase in check,” said board member Brian Kost.

After a short discussion about the memorandum, Board of Finance Chairman Justin Donnelly said having such a document “…is the absolute consensus” among the board members.

Uncertainty about how state budget changes will affect the level of town funds was expressed. The memorandum will likely call for capping yearly operational budget increases between 1 percent and 3 percent, but those numbers are based on budget projections without drastic reductions in state funding.

“If we get whacked on this by the state, all bets are off,” Kost said.

Board member Dennis Kreps said drastic changes to state funding would necessitate reductions in operational budgets. Depending on the severity of changes in state funding, those reductions could “get bloody.”

After agreeing on issuing the memorandum, the board postponed voting on the four bonding projects, for road repair, new fire trucks, Town Hall renovations and a new library. The board did propose small changes to the language of each project. No objections were raised to any of the major components of the projects.

First Selectman Tom Frenaye said he hoped the projects would go to a vote on Monday night to continue moving the bonding process along. Proponents of the process have stressed getting the projects done as soon as possible to take advantage of low interest rates and labor costs in a sluggish economy before they start to rise.

Once the projects pass through the Board of Finance, which may occur on Feb. 28, they will be voted on at a Town Meeting. The final step in the process is a town-wide referendum, which must occur at least 31 days after the Town Meeting. The process could be completed by the middle of April at the earliest.