Finance Committee recommends DOT Local Bridge grant, reviews FY2025 audit and continues budget discussions
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Meeting held Feb 4, 2026 (5:00 PM, Town Hall Annex - hybrid). CliftonLarsonAllen presented the Fiscal Year ending June 30, 2025 audit. Committee approved the Jan 7, 2026 minutes, recommended approval of a Connecticut DOT Local Bridge Program grant application and resolution for Lantern Hill Road Bridge No. 137001 (est. total ~ $2.8M, 50% eligible). Committee continued review of financial reports, discussed Board of Education surplus accounting under Public Act #24-45, potential uses for National Opioid Settlement funds, scheduling joint quarterly finance meetings with the Board of Education, and noted issuance of an RFP for auditing services.
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Key decisions
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- Approved Finance Committee minutes of January 7, 2026 (vote 3-0).
- Recommended for approval a Connecticut DOT Local Bridge Program grant application and associated resolution authorizing the Mayor to submit for replacement of Lantern Hill Road Bridge No. 137001 (estimated total nearly $2.8M; grant covers 50% of eligible costs) (vote 3-0).
- Continued review of FY2025-2026 financial reports and deferred Budget vs. Actual revenue/expenditure reports through Jan 31, 2026 to the March 4, 2026 meeting.
- Noted issuance of RFP #2026-003 for Auditing Services and ongoing updates to the Town's Purchasing Ordinance.
- Continued discussion on potential uses of National Opioid Settlement payments (including a Police DARE program request) and scheduling of regular quarterly joint Finance Committee meetings with the Board of Education.
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Meeting information
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Finance Committee
Regular Meeting
Agenda
- In -Person: Council Chambers, Town Hall Annex Building Remote Participation: Information Noted Below:
- Join Zoom Meeting from your Computer, Smart Phone or Tablet: https://ledyardct.zoom.us/j/89232051996?pwd=W6OsVJdZBAwKVkM2hZbmzmbUyXCbyR.1 by Audio Only: Telephone: +1 646 558 8656; Meeting ID: 892 3205 1996 ; Passcode: 657757
- CALL TO ORDER
- ROLL CALL
- RESIDENTS & PROPERTY OWNERS COMMENTS (COMMENTS LIMITED TO AGENDA ITEMS & TO THREE (3) MINUTES)
- PRESENTATIONS / INFORMATIONAL ITEMS
- CliftonLarsonAllen LLC-Fiscal Year Ending June 30, 2025 Audit Report
- APPROVAL OF MINUTES
- MOTION to approve the Finance Committee Minutes of January 7, 2026
- Finance Director’s Report - Fiscal Year 2025-2026
- Financial Reports - Fiscal Year 2025-2026
- OLD BUSINESS
- Discussion regarding potential uses for the funding received from the National Opioid Settlement Payments.
- Discussion scheduling Regular Quarterly Joint Finance Committee Meetings between the Town Council and Board of Education.
- Continued discussion regarding upcoming potential Grant Opportunities.
- Any Old Business proper to come before the Committee.
- NEW BUSINESS
- MOTION to approve a Connecticut DOT Local Bridge Program Grant Application for replacement of Lantern Hill Road Bridge No. 137001 for 50% of eligible costs, the total of which is presently estimated to be nearly $2.8 million; In addition, approve the proposed “ Resolution Local Bridge Program State Project No. 9071-9001 Bridge Number: 137001 Lantern Hill Road Over Whitford Brook In The Town Of Ledyard’ as presented in the draft dated January, 28, 2026 authorizing the Mayor to submit the Grant Application.
- Any New Business proper to come before the Committee
- ADJOURNMENT
- DISCLAIMER: Although we try to be timely and accurate these are not official records of the Town.
- Finance Director’s Report - Fiscal Year 2025-2026
- Agenda Item
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