City of Ledyard CT header
File #: 23-1210    Version: Name:
Type: Report Status: Held
File created: 2/15/2023 In control: Finance Committee
On agenda: 11/1/2023 Final action:
Title: Finance Director's Report



Fiscal Year 2022/2023 Report:


Finance Director’s Report





Meeting Action Detail:


Finance Committee Meeting 07/19/2023


File #:                                                               23-1210 Version:  19

Type:                                                               Report


Title:                                                               Finance Director’s Report


Minute Note:

Finance Director Matthew Bonin reported on the following: (1) Fiscal Year 2022/2023 Close-Out - Mr. Bonin stated the Finance Department was continuing their work to close-out the Fiscal Year 2022/2023 Budget; (2) Schools Consolidation/Improvement Projects (Middle School and Gallup Hill School) State Funding - Mr. Bonin stated that he was waiting for the  Department of Administrative Services (DAS)  to schedule a meeting to discuss the next release of the state grant funding to Ledyard.


Mayor Allyn, III, addressed the release of state funding for the Schools Consolidation/Improvement Projects (Middle School and Gallup Hill School). He noted that he recently spoke with the Waterford Selectman Rob Brule and North Stonington Selectman Robert Carlson regarding the timing for the State to release the grant funding for their school projects. He stated that Waterford has been waiting five years and North Stonington has been waiting three years for the State to complete their Audit and release the promised grant funding. Therefore, he stated when he does have the opportunity to meet with the  Department of Administrative Services (DAS) that he planned to discuss the number of years the State has been holding back grant funding and burden that this has placed on the municipalities, because the towns have to carry the debt along with the short-term non-refundable borrowing costs year after year.  He stated this was totally unreasonable.