Agenda

Board of Finance - Agenda - Apr 21, 2026

Apr 21, 2026

A public record published by the Town of Simsbury (simsbury-ct.gov). mySimsbury indexes it and makes it readable; it is not the official copy. View the original file.

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Board of Finance
Regular Meeting
April 21, 2026 – 5:45 p.m.
Simsbury Town Hall – Main Meeting Room
933 Hopmeadow Street
*Meeting May Be Held in a Virtual Only Format if Inclement Weather is Expected on Day of Meeting*
AGENDA
Call to Order
Pledge of Allegiance
Agenda Items
a) Public Hearing on Fiscal Year 2026/2027 Operating and Capital Budgets
Then Close or Continue the Public Hearing
b) Town Fiscal Year 2025/2026 Budget Status Report as of March 31, 2026 (Pages 1-44)
c) Board of Education Fiscal Year 2025/2026 Budget Status Report as of March 31, 2026
(Pages 45-47)
d) Budget Discussion and Possible Action (Pages 48-49)
e) Finance Director’s Report (Pages 50-52)
Review of Minutes
f) April 7, 2026 Regular Meeting Minutes (Pages 53-59)
g) April 10, 2026 Special Meeting Minutes (Pages 60-65)
Adjourn
Board of Finance Meeting Schedule:
4/22/26, 5/19/26, 6/16/26, 7/21/26, 8/18/26, 9/15/26, 10/20/26, 11/17/26, 12/15/26, 1/12/27
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Board of Finance
Agenda Item Submission
1. Title of Submission: Fiscal Year 2025/2026 Quarterly Town Budget Status Report as of
March 31, 2026
2. Date of Board Meeting: April 21, 2026
3. Individual or Entity Making the Submission:
Amy Meriwether, Director of Finance
4. Action Requested of the Board of Finance:
None
5. Summary of Submission:
General Fund
General fund revenues are anticipated to exceed budgetary estimates by $1,575,778. This is mainly
due to the following:
 Tax Collection - $561,589 – Tax collection rate budgeted at 98.5% compared to the actual
collection rate which is typically around 99.5%. This seems low and will be researched further.
The Tax Collector is on vacation as of the writing of this memo. An update will be provided at
the meeting.
 Interest Income - $740,074 – Interest rates were budgeted at 3.75%, however, actual rates were
close to 4.0% at the beginning of the fiscal year.
 Town Clerk - $116,200 – Increased conveyance fee collections compared to the same time last
year.
 Building Department - $91,520 – Increased building permit fees.
 Town Manager - $66,250 – Telephone Access grant came in higher than anticipated.
 Insurance Refunds - $58,304 – CIRMA reinstated their member’s equity distribution program.
 Board of Education Tuition – ($58,541) – Decreased number of students paying tuition in the
current year compared to the prior year.1
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General Fund expenditures are anticipated to come in below budgetary estimates by $1,470,405.
This is mainly related to the following:
 Salary Savings - $528,282 – Staffing vacancies from the following departments: IT, Police,
Dispatch, Animal Control, Facilities and Library
 Employee Benefits - $367,976 – Anticipated health insurance savings from staffing vacancies
 Debt Service - $395,232 – Savings associated with moving out timing of the debt issuance to
when interest rates started to come down and savings related to bonded project close outs that
were re-allocated to reduce current bonding.
Capital Funds
A summary of all capital projects and capital reserve fund analysis are included with this submission.
Parks and Recreation (Simsbury Farms) Fund
Parks and Recreation fund revenues are expected to exceed expenditures by $123,171 as of June 30,
2026. Fund balance is anticipated to increase from $930,721 to $1,053,892.
See attached financial statements for line item detail explanations on variances.
Health Insurance Fund
The Health Insurance Fund expenditures are expected to exceed revenues by $2,616,042 as of June
30, 2026. Fund balance is expected to decrease from $5,012,512 to $2,396,470. This is mainly due
to a spike in claims.
Reserves are expected to total $3,515,070, or 18% of claims as of June 30, 2026. The Town’s health
insurance consultants recommend reserves of at least 20-25% of expected claims.
See attached financial statements for line item detail explanations on variances.
Sewer Use Fund
The Sewer Use Fund revenues are expected to exceed expenditures by $309,056 of June 30, 2026.
Fund balance is expected to increase from $6,247,857 to $6,556,913. This is mainly due to
assessments revenues anticipated to be in excess of budgetary estimates along with pension and
electricity expense savings.
See attached financial statements for line item detail explanations on variances.
6. Financial Impact:
None2
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7. Description of Documents Included with Submission:
 General Fund Statement of Revenues
 General Fund Statement of Expenditures
 Simsbury Farms Statement of Revenues, Expenditures and Changes in Fund Balance
 Health Insurance Fund Statement of Revenues, Expenditures and Changes in Fund Balance
 Residential Property Statement of Revenues, Expenditures and Changes in Fund Balance
 Sewer Use Fund Statement of Revenues, Expenditures and Changes in Fund Balance
 Sewer Assessment Fund Statement of Revenues, Expenditures and Changes in Fund Balance
 Special Revenue Funds Statement of Revenues, Expenditures and Changes in Fund Balance
 Trust Funds Statement of Revenues, Expenditures and Changes in Fund Balance
 Pension Funds Statement of Revenues, Expenditures and Changes in Fund Balance
 Capital Projects Summary
 Capital Non-Recurring Fund Summary3
FY2025 FY2025 FY2026 FY2026 FY2026
BUDGETED ACTUAL BUDGETED ACTUAL PROJECTED $ FAVORABLE PROJECTED
Description REVENUE As of 3/31/25 $ Variance % Recvd REVENUE As of 3/31/2026 $ Variance % Recvd AT YEAR-END (UNFAVORABLE) % Recvd FISCAL NOTES
GENERAL GOVERNMENT
TOWN MANAGER'S OFFICE 324,388 196,388 (128,000) 60.54% 353,331 463,580 110,249 131.20% 419,581 66,250 118.75% Telephone Access Grant higher than anticipated
TOTAL GENERAL GOVERNMENT 324,388 196,388 (128,000) 60.54% 353,331 463,580 110,249 131.20% 419,581 66,250 118.75%
BOARDS & COMMISSIONS
LAND USE COMMISSION 20,000 16,076 (3,924) 80.38% 20,000 17,331 (2,669) 86.66% 20,000 - 100.00%
TOTAL BOARDS & COMMISSIONS 20,000 16,076 (3,924) 80.38% 20,000 17,331 (2,669) 86.66% 20,000 - 100.00%
TOWN CLERK
TOWN CLERK 696,866 459,974 (236,892) 66.01% 652,520 576,408 (76,112) 88.34% 768,720 116,200 117.81%
Increased conveyance fees compared to the same time last
year
TOTAL TOWN CLERK 696,866 459,974 (236,892) 66.01% 652,520 576,408 (76,112) 88.34% 768,720 116,200 117.81%
INFORMATION TECHNOLOGY
INFORMATION TECHNOLOGY 171,173 128,380 (42,793) 75.00% 208,013 156,010 (52,003) 75.00% 208,013 - 100.00%
TOTAL INFORMATION TECHNOLOGY 171,173 128,380 (42,793) 75.00% 208,013 156,010 (52,003) 75.00% 208,013 - 100.00%
FINANCE
TAX DEPARTMENT 109,245,073 110,017,536 772,463 100.71% 112,547,282 112,628,871 81,589 100.07% 113,108,871 561,589 100.50%
Budgeted tax collection rate at 98.5%, actual tax collection
rate at 99.5%
FINANCE DEPARTMENT 2,553,138 2,738,900 185,762 107.28% 2,325,945 2,405,566 79,622 103.42% 3,066,019 740,074 131.82% Increased investment income
ASSESSOR'S OFFICE 5,800 4,144 (1,656) 71.45% 6,000 4,526 (1,474) 75.44% 4,526 (1,474) 75.44%
TOTAL FINANCE 111,804,011 112,760,580 956,569 100.86% 114,879,227 115,038,964 159,737 100.14% 116,179,416 1,300,190 101.13%
PLANNING & BUILDING
BUILDING DEPARTMENT 700,000 950,962 250,962 135.85% 900,000 788,363 (111,637) 87.60% 991,520 91,520 110.17% Permit fees
TOTAL PLANNING & BUILDING 700,000 950,962 250,962 135.85% 900,000 788,363 (111,637) 87.60% 991,520 91,520 110.17%
PUBLIC SAFETY
POLICE DEPARTMENT 222,648 183,454 (39,195) 82.40% 240,575 69,113 (171,462) 28.73% 231,988 (8,587) 96.43%
ANIMAL CONTROL 500 145 (355) 29.00% 100 225 125 225.00% 225 125 225.00%
TOTAL PUBLIC SAFETY 223,148 183,599 (39,550) 82.28% 240,675 69,338 (171,337) 28.81% 232,213 (8,462) 96.48%
PUBLIC WORKS
ENGINEERING 25,050 28,474 3,424 113.67% 25,050 25,589 539 102.15% 29,589 4,539 118.12%
ENO MEMORAL HALL 1,000 1,000 - 100.00% 3,000 3,825 825 127.50% 8,000 5,000 266.67%
HIGHWAY DEPARTMENT 3,250 1,335 (1,915) 41.07% 3,250 2,312 (938) 71.14% 2,312 (938) 71.14%
TOTAL PUBLIC WORKS 29,300 30,809 1,509 105.15% 31,300 31,726 426 101.36% 39,901 8,601 127.48%
COMMUNITY & SOCIAL SERVICES
ELDERLY/HANDICAPPED TRANSPORT 42,037 23,578 (18,459) 56.09% 42,037 35,367 (6,670) 84.13% 42,037 - 100.00%
TOTAL COMMUNITY & SOCIAL SERVICES 42,037 23,578 (18,459) 56.09% 42,037 35,367 (6,670) 84.13% 42,037 - 100.00%
LIBRARY
LIBRARY 18,072 11,835 (6,237) 65.49% 15,800 12,864 (2,936) 81.41% 16,519 719 104.55%
TOTAL LIBRARY 18,072 11,835 (6,237) 65.49% 15,800 12,864 (2,936) 81.41% 16,519 719 104.55%
PARKS & RECREATION
PARKS & RECREATION 257,242 192,932 (64,311) 75.00% 225,215 168,911 (56,304) 75.00% 225,215 - 100.00%
COMMUNITY GARDENS 6,100 3,710 (2,390) 60.82% 5,200 3,289 (1,911) 63.25% 3,500 (1,700) 67.31%
MEMORAL POOLS & FIELDS 11,500 23,466 11,966 204.05% 11,500 14,198 2,698 123.46% 14,198 2,698 123.46%
TOTAL PARKS & RECREATION 274,842 220,108 (54,735) 80.09% 241,915 186,398 (55,517) 77.05% 242,913 998 100.41%
EDUCATION
BOARD OF EDUCATION 7,722,426 5,598,465 (2,123,961) 72.50% 8,626,737 6,205,976 (2,420,761) 71.94% 8,568,196 (58,541) 99.32% Decreased tuition revenue compared to prior year
TOTAL EDUCATION 7,722,426 5,598,465 (2,123,961) 72.50% 8,626,737 6,205,976 (2,420,761) 71.94% 8,568,196 (58,541) 99.32%
INSURANCE
INSURANCE REFUNDS - 23,773 23,773 #DIV/0! - 58,304 58,304 #DIV/0! 58,304 58,304 #DIV/0! CIRMA member distribution program reinstated
TOTAL INSURANCE - 23,773 23,773 #DIV/0! - 58,304 58,304 #DIV/0! 58,304 58,304 #DIV/0!
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
TOWN OF SIMSBURY
GENERAL FUND
Revenue Detail
Period Ending March 31, 2026 (FY2026)4
FY2025 FY2025 FY2026 FY2026 FY2026
BUDGETED ACTUAL BUDGETED ACTUAL PROJECTED $ FAVORABLE PROJECTED
Description REVENUE As of 3/31/25 $ Variance % Recvd REVENUE As of 3/31/2026 $ Variance % Recvd AT YEAR-END (UNFAVORABLE) % Recvd FISCAL NOTES
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
TOWN OF SIMSBURY
GENERAL FUND
Revenue Detail
Period Ending March 31, 2026 (FY2026)
TRANSFERS
TRANSFER IN - FUND BALANCE 250,000 - (250,000) 0.00% - - - #DIV/0! - - #DIV/0!
TRANSFER IN - BELDEN TRUST 28,350 28,350 - 100.00% 28,930 28,930 - 100.00% 28,930 - 100.00%
TRANSFER IN - SOCIAL SVC SRF (OPIOID) - - - #DIV/0! 180,000 180,000 - 100.00% 180,000 - 100.00%
TRANSFER IN - SIMSBURY FARMS - - - #DIV/0! 95,225 95,225 - 100.00% 95,225 - 100.00%
TRANSFER IN - CAPITAL PROJECT FUNDS 231,657 231,657 - 100.00% 182,128 182,128 - 100.00% 182,128 - 100.00%
TRANSFER IN - CAPITAL RESERVE FUND 204,132 204,132 - 100.00% 1,304,132 1,304,132 - 100.00% 1,304,132 - 100.00%
TOTAL TRANSFERS 714,139 464,139 (250,000) 64.99% 1,790,414 1,790,414 - 500% 1,790,414 - 100.00%
TOTAL GENERAL FUND REVENUE 122,740,402 121,068,664 (1,671,738) 98.64% 128,001,969 125,431,042 (2,570,926) 97.99% 129,577,746 1,575,778 101.23%5
FY2025 FY2025 FY2026 FY2026 FY2026
BUDGETED ACTUAL BUDGETED ACTUAL PROJECTED $ FAVORABLE PROJECTED
Description EXPENDITURES As of 3/31/25 $ Variance % Spent EXPENDITURES As of 3/31/26 $ Variance % Spent AT YEAR-END (UNFAVORABLE) % Spent FISCAL NOTES
GENERAL GOVERNMENT
TOWN MANAGER'S OFFICE 626,862 428,747 198,115 68.40% 408,572 310,310 98,262 75.95% 418,357 (9,785) 102.39%
HUMAN RESOURCES - - - #DIV/0! 311,931 187,446 124,485 60.09% 249,814 62,117 80.09% New department
HEALTH DEPARTMENT 187,013 187,013 1 100.00% 190,890 187,148 3,743 98.04% 187,148 3,743 98.04%
LEGAL SERVICES 171,000 161,930 9,070 94.70% 171,000 103,188 67,812 60.34% 160,000 11,000 93.57% Savings in labor relations legal fees
GENERAL GOVERNMENT 143,666 74,636 69,030 51.95% 175,346 119,458 55,888 68.13% 145,368 29,978 82.90%
Contingency budgeted of $15,000 likely not needed and unused
gasoline at year end budgeted for $14,700 being captured
individual department budgets as of March 31, 2026
TOTAL GENERAL GOVERNMENT 1,128,541 852,325 276,216 75.52% 1,257,739 907,550 350,189 72.16% 1,160,686 97,053 92.28%
BOARDS & COMMISSIONS
ECONOMIC DEVELOPMENT COMMISSION 100,650 85,000 15,650 84.45% 93,150 92,500 650 99.30% 92,500 650 99.30%
BOARD OF FINANCE 61,035 55,317 5,718 90.63% 59,660 50,914 8,746 85.34% 55,214 4,446 92.55%
LAND USE COMMISSION 16,850 6,724 10,126 39.91% 14,650 7,343 7,307 50.12% 11,455 3,195 78.19%
BEAUTIFICATION COMMITTEE 6,000 1,063 4,937 17.71% 6,000 1,722 4,278 28.70% 4,100 1,900 68.33%
DEI COUNCIL 4,550 - 4,550 0.00% 4,550 57 4,493 1.25% 4,550 - 100.00%
PUBLIC BUILDING COMMISSION 2,000 446 1,554 22.30% 2,000 482 1,518 24.08% 650 1,350 32.50%
AGING & DISABILITY COMMISSION 1,500 1,428 72 95.19% 7,250 6,627 623 91.41% 7,250 - 100.00%
POLICE COMMISSION 750 15 735 2.00% 750 - 750 0.00% - 750 0.00%
PARKS & REC COMMISSION 750 - 750 0.00% 750 57 693 7.55% 207 543 27.55%
TOTAL BOARDS & COMMISSIONS 194,085 149,992 44,093 77.28% 188,760 159,702 29,058 84.61% 175,926 12,834 93.20%
SELECTMEN - COMMUNITY SERVICES
COMMUNITY SERVICES 383,154 217,546 165,608 56.78% 247,358 175,913 71,445 71.12% 230,868 16,490 93.33% Savings in Housing Authority sewer fees
TOTAL SELECTMEN - COMMUNITY SERVICES 383,154 217,546 165,608 56.78% 247,358 175,913 71,445 71.12% 230,868 16,490 93.33%
PROBATE
REGIONAL PROBATE COURT 12,679 12,679 - 100.00% 13,874 13,874 - 100.00% 13,874 - 100.00%
TOTAL PROBATE 12,679 12,679 - 100.00% 13,874 13,874 - 100.00% 13,874 - 100.00%
ELECTION ADMINISTRATION
ELECTION ADMINISTRATION 203,330 160,718 42,612 79.04% 183,783 136,245 47,538 74.13% 165,452 18,331 90.03% Savings in part time and equipment maintenance line items
TOTAL ELECTION ADMINISTRATION 203,330 160,718 42,612 79.04% 183,783 136,245 47,538 74.13% 165,452 18,331 90.03%
TOWN CLERK
TOWN CLERK 304,474 205,753 98,721 67.58% 301,235 206,689 94,546 68.61% 280,470 20,765 93.11%
Small savings in various line items including the part time line,
contractual services, office supplies and copy & printing
TOTAL TOWN CLERK 304,474 205,753 98,721 67.58% 301,235 206,689 94,546 68.61% 280,470 20,765 93.11%
INFORMATION TECHNOLOGY
INFORMATION TECHNOLOGY 591,876 400,638 191,238 67.69% 555,926 407,916 148,010 73.38% 513,565 42,361 92.38% Savings from staff vacancy
TOTAL INFORMATION TECHNOLOGY 591,876 400,638 191,238 67.69% 555,926 407,916 148,010 73.38% 513,565 42,361 92.38%
FINANCE
FINANCE DEPARTMENT 632,257 457,075 175,182 72.29% 668,061 480,412 187,649 71.91% 657,319 10,742 98.39% Savings from budgeted wage contigency versus actual
ASSESSOR'S OFFICE 422,661 277,940 144,721 65.76% 420,043 280,733 139,310 66.83% 396,569 23,474 94.41% Savings is part time, over time and contractual services line items
TAX DEPARTMENT 227,256 139,112 88,144 61.21% 205,022 134,969 70,053 65.83% 197,049 7,973 96.11% Savings in seasonal line item
TOTAL FINANCE 1,282,174 874,126 408,048 68.18% 1,293,126 896,113 397,013 69.30% 1,250,937 42,189 96.74%
PLANNING & BUILDING
PLANNING DEPARTMENT 429,673 273,923 155,750 63.75% 441,116 298,731 142,385 67.72% 422,047 19,069 95.68% Savings from budgeted wage contigency versus actual
BUILDING DEPARTMENT 323,004 215,070 107,934 66.58% 340,496 259,795 80,701 76.30% 328,056 12,440 96.35% Staff vacancies
TOTAL PLANNING & BUILDING 752,677 488,993 263,684 64.97% 781,612 558,526 223,086 71.46% 750,104 31,508 95.97%
PUBLIC SAFETY
POLICE DEPARTMENT 6,026,356 4,129,912 1,896,444 68.53% 6,017,558 4,215,391 1,802,167 70.05% 5,724,368 293,190 95.13% Staff vacancies
DISPATCH 622,783 446,985 175,798 71.77% 615,550 423,487 192,063 68.80% 578,136 37,414 93.92% Staff vacancies
ANIMAL CONTROL 86,330 54,840 31,490 63.52% 82,084 42,551 39,533 51.84% 59,065 23,019 71.96% Staff vacancies
EMERGENCY MANAGEMENT 53,020 44,255 8,765 83.47% 73,012 73,043 (31) 100.04% 73,043 (31) 100.04%
TOTAL PUBLIC SAFETY 6,788,489 4,675,993 2,112,496 68.88% 6,788,204 4,754,472 2,033,732 70.04% 6,434,612 353,592 94.79%
PUBLIC WORKS
HIGHWAY DEPARTMENT 3,310,419 2,287,612 1,022,807 69.10% 3,434,167 2,494,371 939,796 72.63% 3,386,022 48,145 98.60%
Mid-year transfer in excess of actual personnel overtime related to
storms
BUILDINGS & MAINTENANCE 566,093 435,214 130,879 76.88% 589,665 429,530 160,135 72.84% 564,806 24,859 95.78% Staff vacancies
ENGINEERING 360,373 243,161 117,212 67.47% 377,835 226,855 150,980 60.04% 334,132 43,703 88.43% Savings in consultant line item
PUBLIC WORKS ADMINISTRATION 383,674 247,417 136,257 64.49% 393,811 276,851 116,960 70.30% 379,035 14,776 96.25% Savings in contractual services
TOWN OF SIMSBURY
GENERAL FUND
Expenditure Detail
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)6
FY2025 FY2025 FY2026 FY2026 FY2026
BUDGETED ACTUAL BUDGETED ACTUAL PROJECTED $ FAVORABLE PROJECTED
Description EXPENDITURES As of 3/31/25 $ Variance % Spent EXPENDITURES As of 3/31/26 $ Variance % Spent AT YEAR-END (UNFAVORABLE) % Spent FISCAL NOTES
TOWN OF SIMSBURY
GENERAL FUND
Expenditure Detail
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
TOWN OFFICE BUILDINGS 199,746 149,143 50,603 74.67% 208,100 126,653 81,447 60.86% 181,271 26,829 87.11% Savings in electricity and equipment maintenance
LIBRARY 177,835 120,075 57,760 67.52% 196,501 89,139 107,362 45.36% 145,342 51,159 73.97% Savings in electricity
ENO MEMORAL HALL 102,439 74,751 27,688 72.97% 104,841 64,953 39,888 61.95% 99,823 5,018 95.21%
OTHER BUILDINGS 41,897 30,356 11,541 72.46% 49,343 29,761 19,581 60.32% 40,639 8,704 82.36%
LANDFILL 87,000 29,100 57,900 33.45% 87,000 25,000 62,000 28.74% 76,800 10,200 88.28%
TOTAL PUBLIC WORKS 5,229,476 3,616,830 1,612,646 69.16% 5,441,263 3,763,113 1,678,150 69.16% 5,207,869 233,393 95.71%
COMMUNITY & SOCIAL SERVICES
SOCIAL SERVICES ADMINISTRATION 359,502 238,696 120,806 66.40% 365,842 246,618 119,224 67.41% 351,635 14,207 96.12% Savings from budgeted wage contigency versus actual
SENIOR CENTER SERVICES 173,535 116,672 56,863 67.23% 177,987 125,205 52,782 70.35% 176,194 1,793 98.99%
TRANSPORTATION SERVICES 175,269 115,990 59,279 66.18% 182,409 130,056 52,353 71.30% 180,000 2,409 98.68%
TOTAL COMMUNITY & SOCIAL SERVICES 708,306 471,358 236,948 66.55% 726,238 501,880 224,359 69.11% 707,829 18,409 97.47%
LIBRARY
LIBRARY 1,831,329 1,198,774 632,555 65.46% 1,863,583 1,317,387 546,196 70.69% 1,756,145 107,438 94.23% Staff vacancies
TOTAL LIBRARY 1,831,329 1,198,774 632,555 65.46% 1,863,583 1,317,387 546,196 70.69% 1,756,145 107,438 94.23%
PARKS & RECREATION
PARKS & OPEN SPACE 1,182,879 811,355 371,524 68.59% 1,178,392 812,149 366,243 68.92% 1,137,848 40,544 96.56%
Small savings in various line items related to utilites, supplies and
equipment maintenance
MEMORIAL POOL 93,144 53,398 39,746 57.33% 95,225 44,021 51,204 46.23% 70,835 24,390 74.39% Savings in water charges line item
RECREATION ADMINISTRATION 77,246 57,552 19,694 74.50% 82,964 51,863 31,101 62.51% 77,647 5,317 93.59%
MEMORIAL FIELD 42,279 19,082 23,197 45.13% 42,041 22,402 19,640 53.28% 29,536 12,505 70.26% Savings in water charges line item
TOTAL PARKS & RECREATION 1,395,548 941,388 454,160 67.46% 1,398,622 930,434 468,188 66.53% 1,315,866 82,756 94.08%
EDUCATION
BOARD OF EDUCATION 85,806,368 59,120,135 26,686,233 68.90% 88,823,111 65,834,271 22,988,840 74.12% 88,823,111 - 100.00%
TOTAL EDUCATION 85,806,368 59,120,135 26,686,233 68.90% 88,823,111 65,834,271 22,988,840 74.12% 88,823,111 - 100.00%
EMPLOYEE BENEFITS
EMPLOYEE BENEFITS 7,342,293 6,014,448 1,327,845 81.92% 7,804,160 6,549,871 1,254,289 83.93% 7,436,184 367,976 95.28% Health insurance savings related to staff vacancies
TOTAL EMPLOYEE BENEFITS 7,342,293 6,014,448 1,327,845 81.92% 7,804,160 6,549,871 1,254,289 83.93% 7,436,184 367,976 95.28%
INSURANCE
LIABILITY INSURANCE 506,383 598,535 (92,152) 118.20% 534,523 487,519 47,004 91.21% 554,447 (19,924) 103.73% Latimer Lane added back to policy
TOTAL INSURANCE 506,383 598,535 (92,152) 118.20% 534,523 487,519 47,004 91.21% 554,447 (19,924) 103.73%
TRANSFERS
TRANSFER OUT - SIMSBURY FARMS 151,715 151,715 - 100.00% 151,715 151,715 - 100.00% 151,715 - 100.00%
TRANSFER OUT - MSP SENIOR FUND 10,480 10,480 - 100.00% 10,480 10,480 - 100.00% 10,480 - 100.00%
TRANSFER OUT - YOUTH SERVICE BUREAU 8,000 8,000 - 100.00% 8,000 8,000 - 100.00% 8,000 - 100.00%
TRANSFER OUT - ATHLETICS FIELDS 2,250 2,250 - 100.00% 2,250 2,250 - 100.00% 2,250 - 100.00%
TRANSFER OUT - SIMSBURY CELEBRATES 5,300 5,300 - 100.00% 5,300 5,300 - 100.00% 5,300 - 100.00%
CONTINGENCY RESERVE - - - #DIV/0! - - - #DIV/0! - - #DIV/0!
CONTINGENCY VACANCY (350,000) - (350,000) 0.00% (350,000) - (350,000) 0.00% - (350,000) 0.00%
TRANSFER OUT - CNR 416,250 416,250 - 100.00% 416,250 416,250 - 100.00% 416,250 - 100.00%
TRANSFER OUT - CAPITAL RESERVE - - - #DIV/0! - - - #DIV/0! - - #DIV/0!
TOTAL TRANSFERS 243,995 593,995 (350,000) 243.45% 243,995 593,995 (350,000) 243.45% 593,995 (350,000) 243.45%
DEBT SERVICE
PRINCIPAL 6,040,000 4,097,680 1,942,320 67.84% 7,103,207 4,860,000 2,243,207 68.42% 6,930,000 173,207 97.56%
INTEREST 2,009,225 1,733,795 275,430 86.29% 2,451,650 2,133,025 318,625 87.00% 2,229,625 222,025 90.94%
TOTAL DEBT SERVICE 8,049,225 5,831,475 2,217,750 72.45% 9,554,857 6,993,025 2,561,832 73.19% 9,159,625 395,232 95.86%
Timing of debt service issuance and year end project close outs
used to offset need to bond
TOTAL GENERAL FUND EXPENDITURES 122,754,402 86,425,701 36,328,701 70.41% 128,001,969 95,188,496 32,813,473 74.36% 126,531,564 1,470,405 98.85%
UNASSIGNED FUND BALANCE - 7/1/25 20,808,230
SURPLUS (DEFICIT) 3,046,182
ESTIMATED FUND BALANCE - 6/30/26 23,854,412 18.85%7
FY2025 FY2025 FY2026 FY2026 FY2026
BUDGETED ACTUAL BUDGETED ACTUAL PROJECTED $ FAVORABLE PROJECTED
Description REVENUES As of 3/31/2025 $ Variance % Recvd REVENUES As of 3/31/2026 $ Variance % Recvd AT YEAR-END (UNFAVORABLE) % Recvd FISCAL NOTES
REVENUES
RECREATION PROGRAM
SPECIAL PROGRAMS 435,500 330,787 (104,713) 75.96% 499,000 321,210 (177,790) 64.37% 420,000 (79,000) 84.17%
Revenue to date consistent with prior year, projections consistent
with prior year end actuals
DAY CAMPS 272,500 201,862 (70,638) 74.08% 308,640 192,512 (116,128) 62.37% 225,000 (83,640) 72.90%
MISCELLANEOUS 10,000 8,350 (1,650) 83.50% 15,000 - (15,000) 0.00% - (15,000) 0.00% No receipts to date for sponsorships
SIMSBURY FARMS COMPLEX
SKATING 265,000 231,231 (33,770) 87.26% 273,600 249,794 (23,806) 91.30% 260,000 (13,600) 95.03%
Revenue to date consistent with prior year, projections consistent
with prior year end actuals
SIMSBURY FARMS POOLS 288,000 112,893 (175,108) 39.20% 302,567 135,661 (166,906) 44.84% 285,000 (17,567) 94.19%
Revenue to date consistent with prior year, projections consistent
with prior year end actuals
VENDING 22,000 12,107 (9,893) 55.03% 15,500 4,681 (10,819) 30.20% 4,830 (10,670) 31.16%
Revenue to date consistent with prior year, projections consistent
with prior year end actuals
COURT RENTAL 33,000 27,407 (5,593) 83.05% 31,000 20,404 (10,597) 65.82% 21,403 (9,597) 69.04%
Revenue to date consistent with prior year, projections consistent
with prior year end actuals
APPLE BARN RENTAL 2,500 5,000 2,500 200.00% 4,000 4,060 60 101.50% 4,060 60 101.50%
MISCELLANEOUS - - #DIV/0!
GOLF COURSE
GOLF COURSE FEES 1,240,000 875,852 (364,148) 70.63% 1,410,000 848,221 (561,779) 60.16% 1,258,000 (152,000) 89.22%
Revenue to date consistent with prior year, projections consistent
with prior year end actuals
GOLF SURCHARGE 100,000 87,206 (12,794) 87.21% 225,000 76,271 (148,729) 33.90% 105,271 (119,729) 46.79% Consistent with anticipated decrease in golf fees
CLUB HOUSE SURCHARGE - - - #DIV/0! - 65,246 65,246 #DIV/0! 86,246 86,246 #DIV/0! New surcharge at the end of the prior year
RESTAURANT 35,270 35,270 - 100.00% 38,800 26,453 (12,348) 68.18% 26,453 (12,348) 68.18%
MISCELLANEOUS - 150 150 #DIV/0! - - - #DIV/0! - - #DIV/0!
TRANSFER IN - GENERAL FUND 151,715 151,715 - 100.00% 151,715 151,715 - 100.00% 151,715 - 100.00%
TOTAL REVENUES 2,855,485 2,079,829 (775,656) 72.84% 3,274,822 2,096,227 (1,178,595) 64.01% 2,847,978 (426,844) 86.97%
FY2025 FY2025 FY2026 FY2026 FY2026
BUDGETED ACTUAL BUDGETED ACTUAL PROJECTED $ FAVORABLE PROJECTED
Description EXPENDITURES As of 3/31/2025 $ Variance % Spent EXPENDITURES As of 3/31/2026 $ Variance % Spent AT YEAR-END (UNFAVORABLE) % Spent FISCAL NOTES
EXPENDITURES
GOLF COURSE FEES 1,399,232 1,019,687 379,545 72.87% 1,210,199 763,334 446,865 63.08% 1,182,020 28,179 97.67%
Savings in seasonal help related to decreased golf fees and
smaller savings in various accounts
SIMSBURY FARMS COMPLEX 643,431 395,166 248,265 61.42% 719,407 503,340 216,067 69.97% 707,713 11,694 98.37%
SPECIAL PROGRAMS 605,110 302,995 302,115 50.07% 680,029 307,249 372,779 45.18% 525,428 154,601 77.27%
Savings in contractual services, consistent with decreased
revenues
SIMSBURY FARMS ADMINISTRATION 237,054 125,522 111,532 52.95% 248,636 134,949 113,687 54.28% 214,421 34,215 86.24% Savings in health insurance
TRANSFER OUT - GENERAL FUND - - - #DIV/0! 95,225 95,225 - 100.00% 95,225 - 100.00%
TOTAL EXPENDITURES 2,884,827 1,843,371 1,041,456 63.90% 2,953,495 1,804,097 1,149,398 61.08% 2,724,807 228,688 92.26%
NET INCOME/(LOSS) (29,342) 236,459 321,327 292,129 123,171 (198,156)
FUND BALANCE - 7/1/25 930,721
SURPLUS (DEFICIT) 123,171
ESTIMATED FUND BALANCE - 6/30/26 1,053,892
TOWN OF SIMSBURY
SIMSBURY FARMS
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)8
FY2025 FY2025 FY2026 FY2026 FY2026
BUDGETED ACTUAL BUDGETED ACTUAL PROJECTED $ FAVORABLE PROJECTED
Description REVENUES As of 3/31/2025 $ Variance % Recvd REVENUES As of 3/31/2026 $ Variance % Recvd AT YEAR-END (UNFAVORABLE) % Recvd FISCAL NOTES
REVENUES
PREMIUMS 16,442,244 9,682,081 (6,760,163) 58.89% 16,716,194 11,711,620 (5,004,575) 70.06% 17,120,000 403,806 102.42%
HEALTH SAVINGS ACCOUNT FUNDING 730,000 768,333 38,333 105.25% 730,000 856,446 126,446 117.32% 856,446 126,446 117.32%
RX REIMBURSEMENT 711,877 246,599 (465,278) 34.64% 574,024 495,750 (78,274) 86.36% 615,750 41,726 107.27%
INSURANCE REFUNDS - 75,233 75,233 #DIV/0! - 809,301 809,301 #DIV/0! 809,301 809,301 #DIV/0! Spike in large claims, may increase before year end
MISCELLANEOUS - 69,908 69,908 #DIV/0! - - - #DIV/0! - - #DIV/0!
TOTAL REVENUES 17,884,121 10,842,154 (7,041,967) 60.62% 18,020,218 13,873,117 (4,147,101) 76.99% 19,401,497 1,381,279 107.67%
FY2025 FY2025 FY2026 FY2026 FY2026
BUDGETED ACTUAL BUDGETED ACTUAL PROJECTED $ FAVORABLE PROJECTED
Description EXPENDITURES As of 3/31/2025 $ Variance % Spent EXPENDITURES As of 3/31/2026 $ Variance % Spent AT YEAR-END (UNFAVORABLE) % Spent FISCAL NOTES
EXPENDITURES
CLAIMS 15,807,114 9,967,513 5,839,601 63.06% 16,376,167 14,490,061 1,886,106 88.48% 19,873,671 (3,497,504) 121.36%
Spike in claims, in line with Lockton projections based on
industry
HEALTH SAVINGS ACCOUNT FUNDING 730,000 823,405 (93,405) 112.80% 730,000 856,196 (126,196) 117.29% 856,196 (126,196) 117.29%
ASO/ADMIN FEES 511,355 397,349 114,006 77.71% 515,324 414,576 100,748 80.45% 552,082 (36,758) 107.13%
STOP LOSS INSURANCE 850,996 565,724 285,272 66.48% 849,728 612,062 237,666 72.03% 735,590 114,138 86.57%
TOTAL EXPENDITURES 17,899,465 11,753,992 6,145,473 65.67% 18,471,219 16,372,895 2,098,324 88.64% 22,017,540 (3,546,321) 119.20%
NET INCOME/(LOSS) (15,344) (911,837) (451,001) (2,499,778) (2,616,042) (2,165,042)
FUND BALANCE - 7/1/25 5,012,512
SURPLUS (DEFICIT) (2,616,042)
ESTIMATED FUND BALANCE - 6/30/26 2,396,470
IBNR 1,118,600
TOTAL RESERVES 3,515,070
% OF CLAIMS 18%
TOWN OF SIMSBURY
HEALTH INSURANCE FUND
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)9
FY2025 FY2025 FY2026 FY2026 FY2026
BUDGETED ACTUAL BUDGETED ACTUAL PROJECTED $ FAVORABLE PROJECTED
Description REVENUES As of 3/31/2025 $ Variance % Recvd REVENUES As of 3/31/2026 $ Variance % Recvd AT YEAR-END (UNFAVORABLE) % Recvd FISCAL NOTES
REVENUES
RENTAL INCOME 97,000 51,900 (45,100) 53.51% 97,000 47,915 (49,085) 49.40% 86,605 (10,395) 89.28%
TOTAL REVENUES 97,000 51,900 (45,100) 53.51% 97,000 47,915 (49,085) 49.40% 86,605 (10,395) 89.28%
FY2025 FY2025 FY2026 FY2026 FY2026
BUDGETED ACTUAL BUDGETED ACTUAL PROJECTED $ FAVORABLE PROJECTED
Description EXPENDITURES As of 3/31/2025 $ Variance % Spent EXPENDITURES As of 3/31/2026 $ Variance % Spent AT YEAR-END (UNFAVORABLE) % Spent FISCAL NOTES
EXPENDITURES
CONTRACTUAL SERVICES 10,000 4,510 5,490 45.10% 10,000 4,500 5,500 45.00% 10,000 - 100.00%
FACILITIES MAINTENANCE 15,000 3,126 11,874 20.84% 15,000 45,931 (30,931) 306.21% 50,000 (35,000) 333.33%
BUILDING IMPROVEMENTS 20,000 - 20,000 0.00% 20,000 - 20,000 0.00% - 20,000 0.00%
WATER CHARGES 1,350 1,283 67 95.04% 1,350 1,874 (524) 138.79% 2,500 (1,150) 185.19%
SEWER USE FEES 2,000 2,669 (669) 133.45% 2,200 - 2,200 0.00% 2,700 (500) 122.73%
EQUIPMENT MAINTENANCE 3,000 12,733 (9,733) 424.45% 3,500 - 3,500 0.00% 500 3,000 14.29%
ELECTRIC 1,700 602 1,098 35.44% 1,800 346 1,454 19.23% 600 1,200 33.33%
BUILDING SUPPLIES - - - #DIV/0! - - - #DIV/0! - - #DIV/0!
DEBT SERVICE PRINCIPAL 2,768 - 2,768 0.00% - - - #DIV/0! - - #DIV/0!
DEBT SERVICE INTEREST 9 - 9 0.00% - - - #DIV/0! - - #DIV/0!
TOTAL EXPENDITURES 55,827 24,924 30,903 44.65% 53,850 52,650 1,200 97.77% 66,300 (12,450) 123.12%
NET INCOME/(LOSS) 41,173 26,976 43,150 (4,735) 20,305 2,055
FUND BALANCE - 7/1/25 586,778
SURPLUS (DEFICIT) 20,305
ESTIMATED FUND BALANCE - 6/30/26 607,083
TOWN OF SIMSBURY
RESIDENTIAL RENTAL PROPERTY FUND
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)10
FY2025 FY2025 FY2026 FY2026 FY2026
BUDGETED ACTUAL BUDGETED ACTUAL PROJECTED $ FAVORABLE PROJECTED
Description REVENUES As of 3/31/2025 $ Variance % Recvd REVENUES As of 3/31/2026 $ Variance % Recvd AT YEAR-END (UNFAVORABLE) % Recvd FISCAL NOTES
REVENUES
ASSESSMENTS 3,001,431 3,344,657 343,226 111.44% 3,216,502 3,688,229 471,727 114.67% 3,788,229 571,727 117.77%
Increase in current year is in line with
budget
WPCA FEES 765,087 441,721 (323,366) 57.73% 683,858 498,830 (185,028) 72.94% 798,830 114,972 116.81%
Current year revenues in line with same
time last year, projections in line with prior
year
INTERGOVERNMENTAL REVENUES 393,336 196,666 (196,670) 50.00% 393,539 295,157 (98,382) 75.00% 393,539 - 100.00%
INTEREST & LIENS 23,379 29,044 5,665 124.23% 26,003 30,919 4,916 118.91% 42,919 16,916 165.05%
MISCELLANEOUS GRANT 5,000 3,907 (1,093) 78.14% 3,500 10,223 6,723 292.09% 10,223 6,723 292.09%
INTEREST ON INVESTMENTS 130,000 119,087 (10,913) 91.61% 150,000 56,400 (93,600) 37.60% 71,400 (78,600) 47.60% Interest rates coming down
MISCELLANEOUS - - - #DIV/0! - - - #DIV/0! - - #DIV/0!
TOTAL REVENUES 4,318,233 4,135,082 (183,151) 95.76% 4,473,402 4,579,758 106,356 102.38% 5,105,139 631,738 14.12%
FY2025 FY2025 FY2026 FY2026 FY2026
BUDGETED ACTUAL BUDGETED ACTUAL PROJECTED $ FAVORABLE PROJECTED
Description EXPENDITURES As of 3/31/2025 $ Variance % Spent EXPENDITURES As of 3/31/2026 $ Variance % Spent AT YEAR-END (UNFAVORABLE) % Spent FISCAL NOTES
EXPENDITURES
OPERATING
SALARIES & BENEFITS 1,427,995 828,522 599,473 58.02% 1,469,793 838,596 631,197 57.06% 1,392,959 76,835 94.77% Pension ARC payment savings
CONSULTANT 40,000 14,628 25,372 36.57% 40,000 11,061 28,939 27.65% 20,000 20,000 50.00%
CONTRACTUAL SERVICES 52,015 32,314 19,701 62.12% 58,450 53,479 4,971 91.50% 58,450 - 100.00%
PROPERTY & CASUALTY INSURANCE 40,396 - 40,396 0.00% 41,608 - 41,608 0.00% 41,608 - 100.00%
ADVERTISING 700 286 414 40.84% 1,500 - 1,500 0.00% 300 1,200 20.00%
COPY & PRINTING SERVICES 1,500 - 1,500 0.00% 3,000 - 3,000 0.00% - 3,000 0.00%
POSTAGE 2,200 121 2,079 5.50% 2,200 988 1,212 44.89% 1,500 700 68.18%
EQUIPMENT RENTALS 1,500 682 818 45.47% 1,500 744 756 49.60% 1,250 250 83.33%
SUPPLIES 198,000 81,108 116,892 40.96% 213,900 117,552 96,348 54.96% 182,950 30,950 85.53% Savings in chemical & lab supplies
MAINTENANCE 55,140 24,195 30,945 43.88% 55,140 42,943 12,197 77.88% 55,140 - 100.00%
UTILITIES 1,040,487 592,020 448,467 56.90% 1,105,103 631,306 473,797 57.13% 964,780 140,323 87.30% Electricity line item savings
PUBLIC AGENCY SUPPORT 127,158 127,158 - 100.00% 128,757 128,757 - 100.00% 128,757 - 100.00%
CONFERENCES & EDUCATION 5,565 3,226 2,339 57.97% 6,950 4,283 2,667 61.63% 5,000 1,950 71.94%
TRAVEL 1,000 - 1,000 0.00% 1,000 - 1,000 0.00% - 1,000 0.00%
DUES & SUBSCRIPTIONS 1,340 1,338 2 99.83% 1,710 1,207 503 70.57% 1,207 503 70.57%
SEWER EXTENSIONS 32,000 3,765 28,235 11.77% 32,000 - 32,000 0.00% 32,000 - 100.00%
TECH & PROGRAM EQUIPMENT 1,800 - 1,800 0.00% 1,800 - 1,800 0.00% 500 1,300 27.78%
MACHINERY 75,000 40,789 34,211 54.39% 75,000 42,608 32,392 56.81% 75,000 - 100.00%
COMPUTER SOFTWARE 40,700 33,491 7,209 82.29% 42,510 34,058 8,452 80.12% 34,058 8,452 80.12%
TOTAL OPERATING 3,144,496 1,783,641 1,360,855 56.72% 3,281,921 1,907,581 1,374,340 58.12% 2,995,458 286,463 91.27%
TRANSFERS
CAPITAL PROJECT FUND 450,000 450,000 - 100.00% 586,000 586,000 - 100.00% 586,000 - 100.00%
TOTAL TRANSFERS 450,000 450,000 - 100.00% 586,000 586,000 - 100.00% 586,000 - 100.00%
DEBT SERVICE
DEBT SERVICE PRINCIPAL 1,060,000 1,060,000 - 100.00% 1,115,000 1,115,000 - 100.00% 1,115,000 - 100.00%
DEBT SERVICE INTEREST 154,000 154,000 - 100.00% 99,625 99,625 - 100.00% 99,625 - 100.00%
TOTAL DEBT SERVICE 1,214,000 1,214,000 - 100.00% 1,214,625 1,214,625 - 100.00% 1,214,625 - 100.00%
TOTAL EXPENDITURES 4,808,496 3,447,641 1,360,855 71.70% 5,082,546 3,708,206 1,374,340 72.96% 4,796,083 286,463
NET INCOME/(LOSS) (490,263) 687,441 (609,145) 871,552 309,056 345,275
FUND BALANCE - 7/1/25 6,247,857
SURPLUS (DEFICIT) 309,056
ESTIMATED FUND BALANCE - 6/30/26 6,556,913
TOWN OF SIMSBURY
SEWER USE FUND
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)11
FY2025 FY2026
ACTUAL ACTUAL
Description As of 3/31/2025 As of 3/31/2026 VARIANCE FISCAL NOTES
REVENUES
ASSESSMENTS 176,270 104,265 (72,005)
INTEREST & LIENS 6,713 8,252 1,539
INTEREST ON INVESTMENTS 47,413 43,698 (3,715)
TOTAL REVENUES 230,397 156,215 (74,181)
EXPENDITURES
TRANSFER - CNR FUND - - -
TOTAL EXPENDITURES - - -
NET INCOME/(LOSS) 230,397 156,215 (74,181)
FUND BALANCE - 7/1/25 1,146,771
SURPLUS (DEFICIT) 156,215
FUND BALANCE - 3/31/26 1,302,986
TOWN OF SIMSBURY
SEWER ASSESSMENT FUND
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)12
Special Revenue Fund Descriptions
Residential Rental Property
 To account for rental revenues and the maintenance and capital expenditures in maintaining the
Town owned residential properties
Library Programs
 To account for donations, memorial gifts and miscellaneous grants and expenses related to the
operations of the library.
Police Community Services
 To account for police grants, donations, charges for fingerprint services and programs including:
Project Lifesaver, Self-Defense Classes, Police Cadets and Heroes & Hounds.
Narcotics Task Force
 To account for state grants for narcotics enforcement
Police Special Duty
 To account for revenues and expenditures for police officer’s special duty for outside
organizations.
Social Services Programs
 To account for donations and gifts and associated expenses related for the well-being of town
citizens in need of assistance.
Town Aid Road
 To account for state town aid road grants and related expenses to town roads.
Preservation of Historic Documents
 To account for, in the Town Clerk’s office, additional revenues collected, grant revenues and
expenditures to preserve land records pursuant to Public Act No. 00-146
Town Clerk LOCIP
 To account for document fees collected by the Town Clerk’s office to be used for expenditures
that qualify under the State Local Capital Improvement (LOCIP) grants.13
Expanded Dial-A-Ride
 To account for grant and expenditures related to an expanded dial-a-ride service to the elderly
and disabled residents of the program.
Dog Park
 To account for donations and expenses related to the operations of the dog park.
Clean Energy Task Force
 To account for grants and donations to be expended per the charge of the Clean Energy Task
Force.
Simsbury Celebrates
 To account for donations and expenditures associated with the annual Simsbury Celebrates
event.
Field Recreation
 To account for charges for services and expenditures associated with the maintenance of the
athletic fields.
Simsbury Try-Athlon
 To account for donations and expenditures associated with the annual Try-Athlon event.
Senior Center
 To account for donations and expenses related to senior center programs
Youth Service Bureau
 To account for grant and expenditures related to youth services.14
FY2025 FY2026
ACTUAL ACTUAL
Description As of 3/31/2025 As of 3/31/2026 VARIANCE FISCAL NOTES
REVENUES
DONATIONS 1,731 2,500 769
TOTAL REVENUES 1,731 2,500 769
EXPENDITURES
TECH & PROGRAM SUPPLIES 34,453 30,982 3,471
BANK FEES - 333 (333)
TOTAL EXPENDITURES 34,453 31,315 3,138
NET INCOME/(LOSS) (32,722) (28,815)
FUND BALANCE - 7/1/25 51,403
SURPLUS (DEFICIT) (28,815)
FUND BALANCE - 3/31/26 22,588
LIBRARY PROGRAMS
TOWN OF SIMSBURY
SPECIAL REVENUE FUNDS
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)15
TOWN OF SIMSBURY
SPECIAL REVENUE FUNDS
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
FY2025 FY2026
ACTUAL ACTUAL
Description As of 3/31/2025 As of 3/31/2026 VARIANCE FISCAL NOTES
REVENUES
DONATIONS 22,732 275 (22,457)
CADET PROGRAM 360 175 (185)
HEROES & HOUNDS PROGRAM 25 25 -
TOTAL REVENUES 23,117 475 (22,642)
EXPENDITURES
PROGRAM SERVICES - 1,708 (1,708)
CADET PROGRAM 1,445 590 855
TOTAL EXPENDITURES 1,445 2,298 855
NET INCOME/(LOSS) 21,672 (1,823)
FUND BALANCE - 7/1/25 55,448
SURPLUS (DEFICIT) (1,823)
FUND BALANCE - 3/31/26 53,625
COMMUNITY SERVICES FUND16
TOWN OF SIMSBURY
SPECIAL REVENUE FUNDS
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
FY2025 FY2026
ACTUAL ACTUAL
Description As of 3/31/2025 As of 3/31/2026 VARIANCE FISCAL NOTES
REVENUES
GRANTS - - -
OPERATING TRANSFER - - -
TOTAL REVENUES - - -
EXPENDITURES
TECH & PROGRAM SUPPLIES - - -
TOTAL EXPENDITURES - - -
NET INCOME/(LOSS) - -
FUND BALANCE - 7/1/25 15,032
SURPLUS (DEFICIT) -
FUND BALANCE - 3/31/26 15,032
NARCOTICS TASK FORCE17
TOWN OF SIMSBURY
SPECIAL REVENUE FUNDS
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
FY2025 FY2026
ACTUAL ACTUAL
Description As of 3/31/2025 As of 3/31/2026 VARIANCE FISCAL NOTES
REVENUES
OPIOID SETTLEMENT 43,141 29,770 (13,370)
DONATIONS 38,402 53,210 14,808
TOTAL REVENUES 81,542 82,980 1,438
EXPENDITURES
MEDICAL ASSISTANCE 704 1,031 (327)
FOOD DISTRIBUTION 12,466 22,127 (9,661)
AUTO REPAIRS 700 - 700
EMERGENCY SHELTER 6,556 56,108 (49,552)
UTILITY ASSISTANCE 4,826 1,674 3,151
TECH & PROGRAM SUPPLIES 9,634 7,549 2,084
TOTAL EXPENDITURES 34,885 88,489 (53,605)
NET INCOME/(LOSS) 46,658 (5,509)
FUND BALANCE - 7/1/25 407,214
SURPLUS (DEFICIT) (5,509)
FUND BALANCE - 3/31/26 401,705
SOCIAL SERVICES PROGRAMS18
TOWN OF SIMSBURY
SPECIAL REVENUE FUNDS
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
FY2025 FY2026
ACTUAL ACTUAL
Description As of 3/31/2025 As of 3/31/2026 VARIANCE FISCAL NOTES
REVENUES
GRANTS 185,108 494,396 309,288
TOTAL REVENUES 185,108 494,396 309,288
EXPENDITURES
TRANSFER - CNR FUND 91,580 94,000 (2,420)
TRANSFER - CAPITAL PROJECTS FUND 243,500 243,500 -
TOTAL EXPENDITURES 335,080 337,500 (2,420)
NET INCOME/(LOSS) (149,972) 156,896
FUND BALANCE - 7/1/25 269,207
SURPLUS (DEFICIT) 156,896
FUND BALANCE - 3/31/26 426,103
TOWN AID ROAD19
TOWN OF SIMSBURY
SPECIAL REVENUE FUNDS
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
FY2025 FY2026
ACTUAL ACTUAL
Description As of 3/31/2025 As of 3/31/2026 VARIANCE FISCAL NOTES
REVENUES
GRANTS 7,500 7,000 (500)
RECORDING FEES 17,500 16,710 (790)
TOTAL REVENUES 25,000 23,710 (790)
EXPENDITURES
SALARIES & WAGES - 1,126 (1,126)
FEES PAID TO STATE 11,072 11,800 (728)
TOTAL EXPENDITURES 11,072 12,926 (1,854)
NET INCOME/(LOSS) 13,928 10,784
FUND BALANCE - 7/1/25 41,187
SURPLUS (DEFICIT) 10,784
FUND BALANCE - 3/31/26 51,971
PRESERVATION OF HISTORIC DOCUMENTS20
TOWN OF SIMSBURY
SPECIAL REVENUE FUNDS
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
FY2025 FY2026
ACTUAL ACTUAL
Description As of 3/31/2025 As of 3/31/2026 VARIANCE FISCAL NOTES
REVENUES
CHARGES FOR SERVICES 306,587 269,579 (37,008)
TOTAL REVENUES 306,587 269,579 (37,008)
EXPENDITURES
SALARIES & BENEFITS 207,244 189,247 17,996
TOTAL EXPENDITURES 207,244 189,247 17,996
NET INCOME/(LOSS) 99,343 80,332
FUND BALANCE - 7/1/25 63,499
SURPLUS (DEFICIT) 80,332
FUND BALANCE - 3/31/26 143,831
POLICE SPECIAL DUTY21
TOWN OF SIMSBURY
SPECIAL REVENUE FUNDS
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
FY2025 FY2026
ACTUAL ACTUAL
Description As of 3/31/2025 As of 3/31/2026 VARIANCE FISCAL NOTES
REVENUES
FARMLAND PRESERVATION FEES 4,599 6,221 1,622
TOTAL REVENUES 4,599 6,221 1,622
EXPENDITURES
TECH & PROGRAM SUPPLIES - - -
TOTAL EXPENDITURES - - -
NET INCOME/(LOSS) 4,599 6,221
FUND BALANCE - 7/1/25 85,819
SURPLUS (DEFICIT) 6,221
FUND BALANCE - 3/31/26 92,040
TOWN CLERK LOCIP FUND22
TOWN OF SIMSBURY
SPECIAL REVENUE FUNDS
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
FY2025 FY2026
ACTUAL ACTUAL
Description As of 3/31/2025 As of 3/31/2026 VARIANCE FISCAL NOTES
REVENUES
PASS FEES 3,065 3,355 290
TOTAL REVENUES 3,065 3,355 290
EXPENDITURES
TRANSFER - CNR FUND - - -
TOTAL EXPENDITURES - - -
NET INCOME/(LOSS) 3,065 3,355
FUND BALANCE - 7/1/25 83,030
SURPLUS (DEFICIT) 3,355
FUND BALANCE - 3/31/26 86,385
EXPANDED DIAL-A-RIDE23
TOWN OF SIMSBURY
SPECIAL REVENUE FUNDS
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
FY2025 FY2026
ACTUAL ACTUAL
Description As of 3/31/2025 As of 3/31/2026 VARIANCE FISCAL NOTES
REVENUES
DONATIONS 75 165 90
TOTAL REVENUES 75 165 90
EXPENDITURES
TECH & PROGRAM SUPPLIES 747 788 (41)
TOTAL EXPENDITURES 747 788 (41)
NET INCOME/(LOSS) (672) (623)
FUND BALANCE - 7/1/25 3,601
SURPLUS (DEFICIT) (623)
FUND BALANCE - 3/31/26 2,978
DOG PARK24
TOWN OF SIMSBURY
SPECIAL REVENUE FUNDS
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
FY2025 FY2026
ACTUAL ACTUAL
Description As of 3/31/2025 As of 3/31/2026 VARIANCE FISCAL NOTES
REVENUES
GRANTS - - -
TOTAL REVENUES - - -
EXPENDITURES
SPECIAL ACTIVITIES - - -
TOTAL EXPENDITURES - - -
NET INCOME/(LOSS) - -
FUND BALANCE - 7/1/25 4,385
SURPLUS (DEFICIT) -
FUND BALANCE - 3/31/26 4,385
CLEAN ENERGY TASK FORCE25
TOWN OF SIMSBURY
SPECIAL REVENUE FUNDS
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
FY2025 FY2026
ACTUAL ACTUAL
Description As of 3/31/2025 As of 3/31/2026 VARIANCE FISCAL NOTES
REVENUES
DONATIONS 28,132 34,586 6,454
GENERAL FUND TRANSFER 5,300 5,300 -
TOTAL REVENUES 33,432 39,886 6,454
EXPENDITURES
SALARIES & WAGES 1,964 1,641 323
CONTRACTUAL SERVICES 14,450 25,429 (10,979)
BANK FEES - 257 (257)
TECH & PROGRAM SUPPLIES 2,692 3,903 (1,211)
TOTAL EXPENDITURES 19,106 31,231 (12,125)
NET INCOME/(LOSS) 14,326 8,655
FUND BALANCE - 7/1/25 6,756
SURPLUS (DEFICIT) 8,655
FUND BALANCE - 3/31/26 15,411
SIMSBURY CELEBRATES26
TOWN OF SIMSBURY
SPECIAL REVENUE FUNDS
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
FY2025 FY2026
ACTUAL ACTUAL
Description As of 3/31/2025 As of 3/31/2026 VARIANCE FISCAL NOTES
REVENUES
CHARGES FOR SERVICES 28,633 22,869 (5,764)
TRANSFER IN - GENERAL FUND 2,250 2,250 -
TOTAL REVENUES 30,883 25,119 (5,764)
EXPENDITURES
AGRICULTURAL SUPPLIES 8,726 9,648 (923)
EQUIPMENT 10,190 - 10,190
ELECTRIC 2,882 - 2,882
TOTAL EXPENDITURES 21,798 9,648 2,882
NET INCOME/(LOSS) 9,085 15,471
FUND BALANCE - 7/1/25 9,647
SURPLUS (DEFICIT) 15,471
FUND BALANCE - 3/31/26 25,118
FIELD MAINTENANCE RECREATION27
TOWN OF SIMSBURY
SPECIAL REVENUE FUNDS
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
FY2025 FY2026
ACTUAL ACTUAL
Description As of 3/31/2025 As of 3/31/2026 VARIANCE FISCAL NOTES
REVENUES
DONATIONS 48,671 52,178 3,507
TRANSFER IN - GENERAL FUND 10,480 10,480 -
TOTAL REVENUES 59,151 62,658 3,507
EXPENDITURES
SPECIAL ACTIVITIES 49,808 49,142 666
BANK FEES - 1,540 (1,540)
TECH & PROGRAM SUPPLIES - 252 (252)
TOTAL EXPENDITURES 49,808 50,934 (1,126)
NET INCOME/(LOSS) 9,343 11,724
FUND BALANCE - 7/1/25 46,458
SURPLUS (DEFICIT) 11,724
FUND BALANCE - 3/31/26 58,182
SENIOR CENTER PROGRAMS28
TOWN OF SIMSBURY
SPECIAL REVENUE FUNDS
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
FY2025 FY2026
ACTUAL ACTUAL
Description As of 3/31/2025 As of 3/31/2026 VARIANCE FISCAL NOTES
REVENUES
GRANTS 16,136 21,533 5,397
TRANSFER IN - GENERAL FUND 8,000 8,000 -
TOTAL REVENUES 24,136 29,533 5,397
EXPENDITURES
TECH & PROGRAM SUPPLIES 13,643 20,763 (7,120)
PUBLIC AGENCY SUPPORT 8,348 - 8,348
TOTAL EXPENDITURES 21,991 20,763 1,228
NET INCOME/(LOSS) 2,145 8,771
FUND BALANCE - 7/1/25 5,129
SURPLUS (DEFICIT) 8,771
FUND BALANCE - 3/31/26 13,900
YOUTH SERVICE BUREAU29
Trust Fund Descriptions
Eno Wood Trust
 To account for the distribution of Trust’s interest income to the Town and expenses related to
maintaining Eno Memorial Hall. The assets are held in a separate trust and are not in the
Town’s name
Horace Belden Trust
 To account for the distribution of Trust’s interest income to the Town and expenses related to
maintaining town roads. The assets are held in a separate trust and are not in the Town’s name.
Julia Darling Trust
 To account for the distribution of Trust’s interest income to the Town and expenses related to
the well-being of Town citizens in need of assistance. The assets are held in a separate trust and
are not in the Town’s name.
Kate Southwell Trust
 To account for the distribution of Trust’s interest income to the Town and expenses related to
the well-being of Town citizens in need of assistance, excluding residents of Tariffville. The
assets are held in a separate trust and are not in the Town’s name.
Ellsworth Trust
 To be used for the beautification of the main streets of the Town of Simsbury, particularly
Hopmeadow Street and/or expenses relating to the Planning Commission.30
FY2025 FY2026
ACTUAL ACTUAL
Description As of 3/31/2025 As of 3/31/2026 VARIANCE FISCAL NOTES
REVENUES
TRUST DISTRIBUTIONS 11,982 17,592 5,609
TOTAL REVENUES 11,982 17,592 5,609
EXPENDITURES
FACILITIES MAINTENANCE 9,189 - 9,189
TRANSFER - CNR FUND - - -
TOTAL EXPENDITURES 9,189 - 9,189
NET INCOME/(LOSS) 2,793 17,592
FUND BALANCE - 7/1/25 20,714
SURPLUS (DEFICIT) 17,592
FUND BALANCE - 3/31/26 38,306
TOWN OF SIMSBURY
TRUST FUNDS
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
ENO WOOD TRUST31
TOWN OF SIMSBURY
TRUST FUNDS
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
FY2025 FY2026
ACTUAL ACTUAL
Description As of 3/31/2025 As of 3/31/2026 VARIANCE FISCAL NOTES
REVENUES
TRUST DISTRIBUTIONS 29,050 34,724 5,674
TOTAL REVENUES 29,050 34,724 5,674
EXPENDITURES
ROADS & DRAINAGE - 66,947 (66,947)
TOTAL EXPENDITURES - 66,947 (66,947)
NET INCOME/(LOSS) 29,050 (32,222)
FUND BALANCE - 7/1/25 30,503
SURPLUS (DEFICIT) (32,222)
FUND BALANCE - 3/31/26 (1,719)
HORACE BELDEN TRUST32
TOWN OF SIMSBURY
TRUST FUNDS
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
FY2025 FY2026
ACTUAL ACTUAL
Description As of 3/31/2025 As of 3/31/2026 VARIANCE FISCAL NOTES
REVENUES
TRUST DISTRIBUTIONS 10,460 15,357 4,896
TOTAL REVENUES 10,460 15,357 4,896
EXPENDITURES
EMERGENCY SHELTER/FOOD 980 9,500 (8,520)
UTILITIES 6,907 2,143 4,764
PUBLIC AGENCY SUPPORT - - -
AUTO REPAIRS - 1,800 (1,800)
TRANSFER - GENERAL FUND 14,000 14,500 (500)
TOTAL EXPENDITURES 21,887 27,943 (6,056)
NET INCOME/(LOSS) (11,426) (12,586)
FUND BALANCE - 7/1/25 66,316
SURPLUS (DEFICIT) (12,586)
FUND BALANCE - 3/31/26 53,730
JULIA DARLING TRUST33
TOWN OF SIMSBURY
TRUST FUNDS
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
FY2025 FY2026
ACTUAL ACTUAL
Description As of 3/31/2025 As of 3/31/2026 VARIANCE FISCAL NOTES
REVENUES
TRUST DISTRIBUTIONS 5,700 8,368 2,668
TOTAL REVENUES 5,700 8,368 2,668
EXPENDITURES
FOOD DISTRIBUTION 10,462 331 10,131
TECH & PROGRAM SUPPLIES - - -
TRANSFER - GENERAL FUND 14,350 14,430 (80)
TOTAL EXPENDITURES 24,812 14,761 10,051
NET INCOME/(LOSS) (19,112) (6,393)
FUND BALANCE - 7/1/25 28,223
SURPLUS (DEFICIT) (6,393)
FUND BALANCE - 3/31/26 21,830
KATE SOUTHWELL TRUST34
TOWN OF SIMSBURY
TRUST FUNDS
Revenue & Expenditure Summary
Period Ending March 31, 2026 (FY2026)
With Comparative Totals for the Period Ended March 31, 2025 (FY2025)
FY2025 FY2026
ACTUAL ACTUAL
Description As of 3/31/2025 As of 3/31/2026 VARIANCE FISCAL NOTES
REVENUES
INTEREST INCOME 790 768 768
TOTAL REVENUES 790 768 768
EXPENDITURES
TECH & PROGRAM SUPPLIES - - -
TOTAL EXPENDITURES - - -
NET INCOME/(LOSS) 790 768
FUND BALANCE - 7/1/25 23,539
SURPLUS (DEFICIT) 768
FUND BALANCE - 3/31/26 24,307
ELLSWORTH TRUST35
Pension Fund Descriptions
General Government Pension Plan
 To account for the activities of the Town’s defined benefit plan for general government
employees. This fund accumulates resources for pension benefit payments to qualified
employees.
Police Pension Plan
 To account for the activities of the Town’s defined benefit plan for police. This fund
accumulates resources for pension benefit payments to qualified employees.
Board of Education Pension Plan
 To account for the activities of the Town’s defined benefit plan for police. This fund
accumulates resources for pension benefit payments to qualified employees.
Other Post-Employment Benefits (OPEB)
 To account for the activities for both the Town and Board of Education for other post-
employment benefits (ie health insurance, life insurance) which accumulate resources for other
post-employment benefit payments to qualified employees36
FY2025 FY2026
ACTUAL ACTUAL
Description As of 12/31/2024 As of 12/31/2025 VARIANCE FISCAL NOTES
REVENUES
CONTRIBUTIONS 1,648,940 1,787,851 (138,911)
INTEREST & DIVIDENDS 511,287 543,005 (31,718)
CHANGE IN MARKET VALUE 604,692 1,589,232 (984,539)
TOTAL REVENUES 2,764,919 3,920,087 (1,155,168)
EXPENDITURES
RETIREE PAYMENTS 1,275,657 1,307,185 (31,528)
CUSTODIAN FEES 10,986 - 10,986
ADMIN EXPENSES 8,439 36,772 (28,333)
TOTAL EXPENDITURES 1,295,082 1,343,957 (48,875)
NET INCOME/(LOSS) 1,469,838 2,576,131
FUND BALANCE - 7/1/25 31,396,186
SURPLUS (DEFICIT) 2,576,131
FUND BALANCE - 12/31/25 33,972,317
GENERAL GOVERNMENT
TOWN OF SIMSBURY
PENSION TRUST FUNDS
Revenue & Expenditure Summary
Period Ending December 31, 2025 (FY2026)
With Comparative Totals for the Period Ended December 31, 2024 (FY2025)37
TOWN OF SIMSBURY
PENSION TRUST FUNDS
Revenue & Expenditure Summary
Period Ending December 31, 2025 (FY2026)
With Comparative Totals for the Period Ended December 31, 2024 (FY2025)
FY2025 FY2026
ACTUAL ACTUAL
Description As of 12/31/2024 As of 12/31/2025 VARIANCE FISCAL NOTES
REVENUES
CONTRIBUTIONS 1,497,173 1,557,527 (60,353)
INTEREST & DIVIDENDS 510,305 534,730 (24,425)
CHANGE IN MARKET VALUE 615,409 1,585,586 (970,177)
TOTAL REVENUES 2,622,888 3,677,842 (1,054,954)
EXPENDITURES
RETIREE PAYMENTS 1,302,546 1,374,460 (71,914)
CUSTODIAN FEES 9,970 - 9,970
ADMIN EXPENSES 18,829 24,293 (5,464)
TOTAL EXPENDITURES 1,331,346 1,398,753 (67,407)
NET INCOME/(LOSS) 1,291,542 2,279,090
FUND BALANCE - 7/1/25 31,174,909
SURPLUS (DEFICIT) 2,279,090
FUND BALANCE - 12/31/25 33,453,999
BOARD OF EDUCATION38
TOWN OF SIMSBURY
PENSION TRUST FUNDS
Revenue & Expenditure Summary
Period Ending December 31, 2025 (FY2026)
With Comparative Totals for the Period Ended December 31, 2024 (FY2025)
FY2025 FY2026
ACTUAL ACTUAL
Description As of 12/31/2024 As of 12/31/2025 VARIANCE FISCAL NOTES
REVENUES
CONTRIBUTIONS 1,107,912 1,468,135 (360,223)
INTEREST & DIVIDENDS 379,733 409,691 (29,958)
CHANGE IN MARKET VALUE 438,146 1,182,985 (744,839)
TOTAL REVENUES 1,925,791 3,060,811 (1,135,020)
EXPENDITURES
RETIREE PAYMENTS 747,524 893,222 (145,698)
CUSTODIAN FEES 9,632 - 9,632
ADMIN EXPENSES 19,921 27,981 (8,060)
TOTAL EXPENDITURES 777,077 921,203 (144,125)
NET INCOME/(LOSS) 1,148,713 2,139,608
FUND BALANCE - 7/1/25 23,508,600
SURPLUS (DEFICIT) 2,139,608
FUND BALANCE - 12/31/25 25,648,208
POLICE39
TOWN OF SIMSBURY
PENSION TRUST FUNDS
Revenue & Expenditure Summary
Period Ending December 31, 2025 (FY2026)
With Comparative Totals for the Period Ended December 31, 2024 (FY2025)
FY2025 FY2026
ACTUAL ACTUAL
Description As of 12/31/2024 As of 12/31/2025 VARIANCE FISCAL NOTES
REVENUES
CONTRIBUTIONS 63,707 - 63,707
INTEREST & DIVIDENDS 313,557 412,839 (99,281)
CHANGE IN MARKET VALUE 501,626 1,593,346 (1,091,720)
TOTAL REVENUES 878,890 2,006,185 (1,127,294)
EXPENDITURES
CLAIMS - - -
ADMIN EXPENSES 61,114 - 61,114
TOTAL EXPENDITURES 61,114 - 61,114
NET INCOME/(LOSS) 817,776 2,006,185
FUND BALANCE - 7/1/25 27,104,877
SURPLUS (DEFICIT) 2,006,185
FUND BALANCE - 12/31/25 29,111,062
OTHER POST EMPLOYMENT BENEFITS (OPEB)40
Expenditures
Appropriation Uncommitted
Inception Expected Balance Balance Current Balance Balance
Year Completion Project March 31, 2026 June 30,2025 Year March 31, 2026 March 31, 2026 Notes
Sewer Fund Projects
FY18 TBD - State Pending Phosphorus Removal Analysis/WPC Plan Update 325,000.00 (171,181.00) - (171,181.00) 153,819.00 Amended contract - NPDES permit
FY20 FY2025/2026 Plant Logic Controllers 250,000.00 (176,608.43) (1,764.90) (178,373.33) 71,626.67 Final programming underway
Recurring On Going Sewer Liners 1,327,616.00 (921,639.08) (19,971.74) (941,610.82) 386,005.18
FY22 On Hold Berm Improvements 3,250,000.00 - - - 3,250,000.00
Grant not approved, looking at other
grant/funding options
FY23 FY2025/2026 Primary Clarifier 1,150,000.00 (981,956.21) - (981,956.21) 168,043.79
FY26 TBD Installation of Septage Receiving Station 360,000.00 - (88,111.27) (88,111.27) 271,888.73
Town Projects
FY14 Need State Audit Senior/Community Center Design 321,698.56 (163,595.68) - (163,595.68) 158,102.88
FY17 December 2026 Multi-Use Connections & Master Plan Updates 1,160,000.00 (720,365.99) (74,323.75) (794,689.74) 365,310.26
FY19
Completed - Keep open for
reimb Multi-Use Trail 2,824,200.00 (2,927,636.35) - (2,927,636.35) (103,436.35)
Reimbursement due from Bloomfield. Paid
in FY26
Recurring On Going Highway Pavement Management 5,283,394.76 (3,310,563.07) (1,795,253.36) (5,105,816.43) 177,578.33
Recurring On Going Greenway Improvements 247,733.65 (93,687.15) (83,878.18) (177,565.33) 70,168.32
Recurring On Going Sidewalk Reconstruction 876,764.60 (513,325.86) (142,162.32) (655,488.18) 221,276.42
FY20 On Going Accounting System 385,000.00 (307,126.53) (1,440.00) (308,566.53) 76,433.47
FY20 FY2025/2026 Eno Entrance and ADA Improvements 860,840.84 (105,241.65) (344,354.32) (449,595.97) 411,244.87
FY22 Need State Audit North End Sidewalk (Hopmeadow Connectivity) 1,794,596.40 (1,769,126.98) - (1,769,126.98) 25,469.42
FY23 Completed Town Hall Site & Safety Improvements 1,340,000.00 (1,234,324.06) (17,487.79) (1,251,811.85) 88,188.15 Waiting on final payment prior to closing
FY23 Completed Eno Parking Improvements 355,000.00 (5,417.95) (332,221.17) (337,639.12) 17,360.88
FY23/FY24 December 2026 Trails - Rt 10 to Curtiss Park 2,455,744.00 - (3,334.44) (3,334.44) 2,452,409.56
FY23 December 2032 Trails - Curtiss Park to Tariffville 300,000.00 (97,850.00) - (97,850.00) 202,150.00
FY23/FY25 TBD Performing Arts Center Restrooms 2,782,881.00 (17,163.67) (952,170.52) (969,334.19) 1,813,546.81
FY23/FY25 FY2025/2026 Tariffville Park Court Replacement 450,000.00 (186,417.74) (153.39) (186,571.13) 263,428.87
FY23 Completed Flower Bridge Repair Design 2,764,000.00 (2,694,719.96) (29,634.13) (2,724,354.09) 39,645.91 Close - Pending Bonding
FY23 November 2026 Firetown Road Sidewalk 1,829,000.00 (38,014.00) (29,368.00) (67,382.00) 1,761,618.00
FY24 Completed - Close Refurbish Elevators 877,500.00 (877,500.00) - (877,500.00) - Close - Pending Bonding
FY24 TBD Meadowood Barn Restoration 650,000.00 (11,006.58) - (11,006.58) 638,993.42
FY24 FY28 Bridge Improvements (Climax Rd over Nod Brook) 372,000.00 - (74,562.96) (74,562.96) 297,437.04
FY24
Cancelled - Lack of grant
funding Bridge Improvements (Firetown Road and Barndoor Hill) 402,500.00 - - - 402,500.00
FY24 FY2025/2026 Eno Building Infrastructure 389,440.00 (188,604.00) (30,250.00) (218,854.00) 170,586.00
FY25 FY32 Tariffville Connection - East Coast Greenway Gap Closure 900,000.00 - - - 900,000.00
FY25 FY2025/2026 Town Hall Rooftop Units 275,000.00 (24,500.00) (3,280.75) (27,780.75) 247,219.25
FY25 FY2025/2026 Barn and Facility Repairs - Wolcott Road 275,000.00 - (3,880.70) (3,880.70) 271,119.30
FY25 FY27 Dam Evaluation & Repairs (Stoddard Dam Breach) 171,000.00 (18,590.00) (46,882.52) (65,472.52) 105,527.48
FY25 Completed Public Works Truck Replacement and Plow 524,220.00 (263,505.80) (260,714.20) (524,220.00) -
FY25 FY2025/2026 Memorial Pool Redesign 150,000.00 (32,821.89) (26,437.98) (59,259.87) 90,740.13
Education Projects
Recurring On Going District Security Improvements 1,500,000.00 (1,032,651.27) (154,476.13) (1,187,127.40) 312,872.60
FY22 Completed Latimer Lane Renovation 39,054,243.00 (38,974,503.67) (71,452.65) (39,045,956.32) 8,286.68
FY23 June 2026 Tootin Water Distribution & Drainage 480,000.00 (441,177.70) (24,500.00) (465,677.70) 14,322.30
FY23 FY2025/2026 Central Roof Replacement 370,000.00 (273,584.59) - (273,584.59) 96,415.41
FY23 FY2025/2026 Tariffville Roof Replacement 1,000,000.00 (829,508.12) - (829,508.12) 170,491.88
FY23 FY2026/2027 Central Electric Svc & Distribution 250,000.00 (99,672.86) (19,350.00) (119,022.86) 130,977.14
FY23 Completed Tariffville Modulars 868,000.00 (849,129.34) (5,965.00) (855,094.34) 12,905.66 Close - Pending Bonding
FY25 FY2025/2026 District Network Infrastructure 350,000.00 (324,632.87) (4,175.50) (328,808.37) 21,191.63
FY25 FY2025/2026 District Flooring Improvements 250,000.00 (239,678.91) (10,321.09) (250,000.00) -
FY25 FY2025/2026 SHS - Auditorium & Amphitheater Improvements 400,000.00 (223,431.50) (60,290.97) (283,722.47) 116,277.53
FY25 FY2025/2026 Tootin Hills - Replace Roof (V3, V4) 1,120,000.00 (44,799.40) (719,006.58) (763,805.98) 356,194.02
FY25 January 2026 2 Farms Village Road 1,400,000.00 (308,200.00) (1,085,747.24) (1,393,947.24) 6,052.76
FY26 June 2026 District Paving 600,000.00 - (239,235.03) (239,235.03) 360,764.97
For the Period Ended March 31, 2026
Schedule of Expenditures Compared with Appropriations
Capital Project Fund
Town of Simsbury41
Expenditures
Appropriation Uncommitted
Inception Balance Balance Current Balance Balance
Year Project March 31, 2026 June 30, 2025 Year March 31, 2026 March 31, 2026
CNR Reserve (5 Year Payback) 1,900,000.00 - - - 1,900,000.00
Recurring CNR Assessor - Revaluation 590,900.00 (343,591.16) - (343,591.16) 247,308.84
Recurring Police Cruisers 664,003.00 (451,240.52) (65,741.38) (516,981.90) 147,021.10
FY24 Security Camera Infrastructure & Equipment 9,110.00 (9,110.00) - (9,110.00) -
FY25 Security Camera Infrastructure & Equipment 38,000.00 - - - 38,000.00
FY26 Security Camera Infrastructure & Equipment 48,000.00 - (27,291.00) (27,291.00) 20,709.00
FY25 2015 Ford Pick-Up 60,000.00 (59,949.12) (260.88) (60,210.00) (210.00)
FY25 Plow Blades 31,000.00 (7,634.30) (24,065.50) (31,699.80) (699.80)
FY25 Playscapes 500,000.00 (349,031.65) (150,968.35) (500,000.00) -
Recurring Various Drainage Improvements 450,000.00 (282,134.66) (3,573.30) (285,707.96) 164,292.04
FY21 P&R Garage Ventilation 10,000.00 - - - 10,000.00
FY25 Soft Body Armor/Vest Replacement 5,000.00 (1,790.00) - (1,790.00) 3,210.00
FY26 Soft Body Armor/Vest Replacement 21,000.00 - (1,830.00) (1,830.00) 19,170.00
Recurring Patrol Supervisor Cruisers 110,000.00 (103,240.38) - (103,240.38) 6,759.62
FY25 Small Parks Mower 20,000.00 (18,724.00) - (18,724.00) 1,276.00
FY25 Memorial Park Athletic Field Mower 60,000.00 (43,352.12) - (43,352.12) 16,647.88
FY25 11' Snow Plow 31,000.00 - - - 31,000.00
Recurring P&R Signage 80,000.00 (68,350.00) - (68,350.00) 11,650.00
Recurring Police Admin Vehicles 458,502.00 (402,224.99) (7,641.05) (409,866.04) 48,635.96
FY24 GPS & Dash Cameras 45,000.00 (17,544.10) (10,658.54) (28,202.64) 16,797.36
Recurring Computer Replacement 198,519.00 (128,296.09) (37,776.34) (166,072.43) 32,446.57
Recurring Radio System Maint/Repair 40,000.00 - - - 40,000.00
FY22 Microsoft Upgrade 17,550.00 (17,548.35) - (17,548.35) 1.65
FY23 Microsoft Upgrade 17,550.00 (17,416.80) - (17,416.80) 133.20
FY22 Body & Car Cameras 46,158.00 (47,793.99) - (47,793.99) (1,635.99)
FY26 Body & Car Cameras 113,488.00 - (113,112.74) (113,112.74) 375.26
FY22 Equipment Trailer 8,000.00 (9,795.00) - (9,795.00) (1,795.00)
FY22 Meadows Facilities Maint 10,000.00 - - - 10,000.00
FY22 Parks Utility Vehicle 25,000.00 (23,309.92) - (23,309.92) 1,690.08
FY23 Traffic Calming 130,000.00 (93,824.03) (3,500.00) (97,324.03) 32,675.97
FY22/FY23 Clubhouse Repairs 170,000.00 (172,247.44) - (172,247.44) (2,247.44)
FY22/FY23 Irrigation Replacement 306,000.00 (289,061.01) - (289,061.01) 16,938.99
FY26 Irrigation Replacement 100,000.00 - - - 100,000.00
Recurring Material Crushing 202,000.00 (167,107.75) - (167,107.75) 34,892.25
FY23 Bobcat Skid Loader 70,000.00 (11,355.00) - (11,355.00) 58,645.00
FY23 Gateway Signage 55,500.00 (54,148.90) - (54,148.90) 1,351.10
FY23 Scout Hall Repairs & Maintenance 35,000.00 (15,445.99) - (15,445.99) 19,554.01
FY23 Carpet Cleaner 12,000.00 (7,225.25) (2,030.92) (9,256.17) 2,743.83
FY23 Pool Repairs & Maintenance 30,000.00 (32,000.00) - (32,000.00) (2,000.00)
Recurring Community Farms Repairs & Maintenance 35,000.00 (11,818.79) - (11,818.79) 23,181.21
FY23 Cart Path Repairs & Maintenance 235,000.00 (99.34) - (99.34) 234,900.66
FY23 Staffing Study 70,000.00 (33,909.05) - (33,909.05) 36,090.95
Town of Simsbury
Capital Non-Recurring Fund
Schedule of Expenditures Compared with Appropriations
For the Period Ended March 31, 202642
Expenditures
Appropriation Uncommitted
Inception Balance Balance Current Balance Balance
Year Project March 31, 2026 June 30, 2025 Year March 31, 2026 March 31, 2026
Town of Simsbury
Capital Non-Recurring Fund
Schedule of Expenditures Compared with Appropriations
For the Period Ended March 31, 2026
FY23/FY24 HVAC Repairs & Maintenance 100,000.00 (51,004.00) - (51,004.00) 48,996.00
FY25 Library Compressor/HVAC Controls Repl 62,750.00 - - - 62,750.00
FY25 Town Hall HVAC Controller Upgrade 11,500.00 - (11,500.00) (11,500.00) -
FY25 WPCA HVAC Systems Replacement 150,000.00 - (20,400.00) (20,400.00) 129,600.00
FY26 WPCA HVAC Systems Replacement 60,000.00 - - - 60,000.00
FY23 Milling Machine 36,000.00 (10,205.00) - (10,205.00) 25,795.00
FY23 Turf Sprayer 90,000.00 (71,728.54) - (71,728.54) 18,271.46
FY23 Pavilion Repairs 75,000.00 - - - 75,000.00
FY23 Pond Dredging 50,000.00 (5,500.00) (47,173.71) (52,673.71) (2,673.71)
FY23/FY24 Pollinator Pathways 41,359.00 (5,461.33) (3,556.11) (9,017.44) 32,341.56
FY22 IT Network Switches 52,000.00 (17,057.34) - (17,057.34) 34,942.66
FY24 Assessor Audit 150,000.00 (20,000.00) (30,324.36) (50,324.36) 99,675.64
FY24 Eno Hall Craft Room Renovation 40,000.00 (25,692.98) - (25,692.98) 14,307.02
FY25 Network Switches 24,700.00 - (20,067.00) (20,067.00) 4,633.00
FY24 Financial Fraud Risk Assessment 50,000.00 (20,994.75) (14,826.00) (35,820.75) 14,179.25
FY24 Charter Revision 45,000.00 (10,360.64) (20,534.15) (30,894.79) 14,105.21
FY24 Training Room Tech Replacement (Police) 10,000.00 - - - 10,000.00
FY24 Crosswalk Safety Improvements 46,680.00 (22,038.82) - (22,038.82) 24,641.18
FY24 Station Street Reconfiguration 382,000.00 - - - 382,000.00
FY24 Personnel Lift 18,000.00 (17,359.21) - (17,359.21) 640.79
FY24 Tractor (Facilities) 58,500.00 (62,817.61) - (62,817.61) (4,317.61)
FY24 Pool Wood Sundeck Replacement 60,000.00 - - - 60,000.00
FY23 Roadside Cameras 39,900.00 (21,900.00) (18,000.00) (39,900.00) -
FY25 Firewall Upgrades 17,000.00 - - - 17,000.00
FY25 Neighborhood Planning & Small Area Plans 100,000.00 (83,832.37) - (83,832.37) 16,167.63
FY25 Zoning Regulations Update 125,000.00 - (24,960.00) (24,960.00) 100,040.00
FY25 Records Office & Storage Renovation 60,855.00 (14,599.84) (38,933.12) (53,532.96) 7,322.04
FY25 Condenser - BOE/Maintenance Building 22,000.00 (9,785.33) - (9,785.33) 12,214.67
FY25 Town Hall ADA Hardware Upgrade 40,000.00 (39,652.91) - (39,652.91) 347.09
FY25 Scagg Zero Turn Mower 21,850.00 (18,343.64) (532.81) (18,876.45) 2,973.55
FY25 Rebuild Tee #13 2,500.00 - - - 2,500.00
FY25 Simsbury Farms Parking Lot Drainage 51,000.00 (54,000.00) - (54,000.00) (3,000.00)
FY25 Golf Course Drainage Projects 15,000.00 - - - 15,000.00
FY25 Ice Rink Edger 12,000.00 - (8,365.24) (8,365.24) 3,634.76
FY25 Mid Yr Website Redesign 40,000.00 - (19,515.22) (19,515.22) 20,484.78
FY25 Document Storage/Digitization of Records 25,000.00 (7,628.35) (639.13) (8,267.48) 16,732.52
FY26 HR Performance Management Software 10,100 - (14,360.75) (14,360.75) (4,260.75)
FY26 Internal Control Audit 50,000 - - - 50,000.00
FY26 Wifi Network Upgrades - PD & municipal 49,000 - (27,126.55) (27,126.55) 21,873.45
FY26 Main Meeting Room Audio-Visual Upgrades 15,600 - (10,786.00) (10,786.00) 4,814.00
FY26 Telephone System 25,000 - (14,288.00) (14,288.00) 10,712.00
FY26 Microsoft Office Upgrade 20,000 - - - 20,000.0043
Expenditures
Appropriation Uncommitted
Inception Balance Balance Current Balance Balance
Year Project March 31, 2026 June 30, 2025 Year March 31, 2026 March 31, 2026
Town of Simsbury
Capital Non-Recurring Fund
Schedule of Expenditures Compared with Appropriations
For the Period Ended March 31, 2026
FY26 Mobile Data Terminals 53,000 - (52,317.96) (52,317.96) 682.04
FY26 Animal Control Officer Vehicle 70,000 - - - 70,000.00
FY26 Town Hall South Entry Door Replacement 16,500 - - - 16,500.00
FY26 Roof Repairs - Eno, Library, Town Hall 85,000 - (5,659.60) (5,659.60) 79,340.40
FY26 Library - Automated Door Lock Upgrade 17,600 - - - 17,600.00
FY26 Town Hall - Police - Automatic Door Lock Upgrade 65,000 - - - 65,000.00
FY26 Library - Removal of Underground Fuel Storage Tank 41,800 - (23,991.03) (23,991.03) 17,808.97
FY26 Town Hall - HVAC Controller (VGMA) Replacements 11,500 - - - 11,500.00
FY26 Highway Facility - Overhead Fan Units 31,500 - (12,552.27) (12,552.27) 18,947.73
FY26 Highway Engine Replacement Truck #2 36,000 - (38,894.17) (38,894.17) (2,894.17)
FY26 Air Ventilation System (Highway Garage) 94,000 - - - 94,000.00
FY26
Replace breaker/circuit panel at Simsbury Farms
Tennis & Paddle Courts 50,000 - - - 50,000.00
FY26 Memorial Field Backstop 22,000 - (18,600.00) (18,600.00) 3,400.00
FY26 Parks Boom Mower Attachment Replacement 15,000 - - - 15,000.00
FY26 Utility Vehicle - Memorial Park 35,000 - (33,103.51) (33,103.51) 1,896.49
FY26 Pickup Truck Replacement 60,000 - (56,094.50) (56,094.50) 3,905.50
FY26 Athletic Field Lining Machine 40,000 - (44,150.00) (44,150.00) (4,150.00)
FY26 Clubhouse and Restaurant Improvements 60,000 - - - 60,000.00
FY26 Golf Course Pump House Renovation 157,000 - (104,218.00) (104,218.00) 52,782.00
FY26 Golf Course Greens Mower 55,000 - - - 55,000.00
FY26 Golf Course Drainage Projects 35,000 - - - 35,000.00
FY26 Rebuild Tee #13 20,000 - - - 20,000.00
FY26 WPCA Vehicles 65,000 - (36,950.65) (36,950.65) 28,049.35
FY26 Tootin Hills Stage Curtains and Dual Mic Kit 40,000 - (795.00) (795.00) 39,205.00
FY26 Squadron Line Lower Level Walk Off Carpets 11,000 - (11,000.00) (11,000.00) -
FY26 Squadron Line Bathroom Renovation 75,000 - (64,508.24) (64,508.24) 10,491.76
FY26 Squadron Line Phones/PA System/Clocks 100,000 - (93,929.60) (93,929.60) 6,070.40
FY26 Central School Main Hallway Tile 50,000 - (50,000.00) (50,000.00) -
FY26 HJMS First & Second Floor Bathroom Renovation 160,000 - (122,534.59) (122,534.59) 37,465.41
FY26 School Buses 300,000 - - - 300,000.00
FY26 Boathouse Wifi 40,000 - (2,280.00) (2,280.00) 37,720.0044
TO: Members of the Board of Education
FROM: Matthew T. Curtis, Superintendent of Schools
RE: Financial Report/Quarterly Budget Analysis
DATE: April 21, 2026
Below is the third quarter budget analysis of the Simsbury Public Schools for the fiscal year 2025-26.
Revenues
Below is a summary of the District’s State grant awards:
 Open Choice Academic and Social Support – Funding is used to promote academic and social success for students
participating in the Hartford Region Choice program. Simsbury was awarded $187,538 in the current fiscal year, a
decrease of $3,529 compared to the prior fiscal year. Simsbury also received a supplemental award of $16,100.
 Open Choice Attendance & Early Learning - Funding is used to support salaries and benefits for 7 FTE certified
staff, tutors, magnet school tuitions, additional Choice student supports, equipment and preschool development.
Entitlements are based on the district’s 10/1 enrollment. Simsbury is anticipated to receive a total of $2,052,225 in the
current fiscal year, which represents an increase of $244,717 compared to the prior fiscal year.
 Special Education Placements & Excess Cost – Funding is provided to reimburse the District for special education
costs in excess of 4.5 times the cost of educating a regular education student. Simsbury is projected to receive
$2,105,760 based on costs reported with the March 1 filing. The prior year reimbursement totaled $2,521,460.
 Adult Education – Funding to support Connecticut mandated adult education programs is administered through a
cooperative program with the Farmington Continuing Education Department. Simsbury is projected to receive $7,397
in the current fiscal year. The prior year award totaled $9,517.
 Talent Development (TEAM) – Funding provides partial reimbursement for TEAM mentor stipends. The current year
award has not yet been determined. The prior year award totaled $4,833.
 Private School Health Services – Funding to support private school health services provided by the District’s health
services staff as required by Connecticut statute. The current year award is $17,311, a decrease of $794 compared to
the prior year.
Below is a summary of the District’s Federal grant awards:
 Title I – Improving Basic Programs – Funding is used to pay for tutor costs as well as instructional materials and
equipment. Simsbury was awarded $129,977 in the current fiscal year, an increase of $2,156 compared to the prior
fiscal year.
 Title II Part A – Teacher Quality – Funding is used to recruit and retain highly qualified teachers and provide
professional development to teachers and principals. Simsbury was awarded $61,503 in the current fiscal year, an
increase of $354 compared to the prior fiscal year.
 Title III Part A – English Language Acquisition - Funding is used to assist students whose native language is other
than English in order to obtain English proficiency and literacy. Simsbury was awarded $11,108 in the current fiscal
year, an increase of $1,618 compared to the prior fiscal year.
 Title III Immigrant – The District is eligible for funding when the percentage or number in immigrant students increases
by at least two percent as compared to the average increase of the two preceding years. Funding is used to help
immigrant children and youth attain English proficiency, and assist teachers in providing effective programs designed to
assist immigrant children and youth. Simsbury was awarded $10,000 in the current fiscal year. The last time Simsbury
was eligible for this grant was FY23, and the award was $6,000.
 Title IV, Part A – Student Support & Academic Enrichment – Funding is used to (1) provide all students with access
to a well-rounded education, (2) improve school conditions for student learning and (3) improve the use of technology
in order to improve the academic achievement and digital literacy of all students. Simsbury was awarded $10,000 in
the current fiscal year. No change from prior year funding.
 IDEA – Part B and Pre-School - Funding is used to support the education of identified students; salaries for teaching
and support staff, professional development, outside consulting, tutoring services, instructional supplies and45
equipment, and technology licensing. The current year award is $1,177,127, a decrease of $23,430 as compared with
the prior fiscal year.
 Carl Perkins – Funding is used to develop the academic, career and technical skills of secondary students who elect
to enroll in career and technical education programs. Specific expenditures supported by the grant include substitute
coverage for professional development, student transportation and equipment. The current year Perkins award is
$36,662, a decrease of $1,596 as compared to the prior year award. Simsbury also receives a supplemental award,
which was $49,365, a $342 decrease compared to the prior year.
 Medicaid School Based Child Health Program – Section 51 of PA17-2 mandates the district’s participation in the
Medicaid School Based Child Health Program. Net reimbursements in the prior fiscal year totaled $45,548.
Expenditures
Health Services – The rate of spending is higher in the current year due to increased expenditures in the current year for
substitute nurses and additional expenditures for summer school.
Pupil Transportation – The rate of spending is lower in the current year due to the timing of athletics transportation payments
and decreased expenditures for summer school transportation.
Maint of Plant/Equipment – The rate of spending is lower in the current year due to increased general repairs in the prior year.
Insurance/Pension – The rate of spending is higher in the current year due to the timing of health insurance payments.
Equipment – New/Replace – The rate of spending is higher in the current year due to the timing of computer replacement
purchases and decreased grant funding for equipment purchases in the current year as budgeted.
Out of District Tuition – The rate of spending is lower in the current year due to the timing of tuition payments along with a
budget correction in the current year to right size special education tuition expenditures.
2024-25 2025-26 2024-25
General Fund Original Budget YTD Expenditures YTD Expenditures % Spent % Spent
General Control 2,766,525 1,877,197 1,752,350 67.85% 66.66%
Instruction 54,317,301 36,496,426 35,082,152 67.19% 66.64%
Health Services 857,579 621,699 574,087 72.49% 68.19%
Pupil Transportation 3,760,974 2,743,542 2,667,537 72.95% 77.30%
Operation of Plant 6,117,831 4,510,973 4,294,038 73.73% 74.65%
Maint of Plant/Equipment 1,509,139 1,165,427 1,124,368 77.22% 80.03%
Insurance/Pension 14,599,705 12,414,650 11,163,738 85.03% 74.15%
Student Body Activities 954,070 563,615 537,555 59.07% 61.48%
Community Services 32,563 48,528 45,139 149.03% 138.62%
Equipment-New/Replace 257,856 186,931 - 72.49% 0.00%
Out of District Tuition 3,087,458 615,952 832,390 19.95% 34.44%
Total Public Budget 88,261,001 61,244,940 58,073,354 69.39% 68.15%
Non-Public Budget 562,110 346,153 365,347 61.58% 62.06%
Total Education Budget 88,823,111 61,591,092 58,438,701 69.34% 68.11%
2025-2646
Non-Lapsing Fund Summary
Beginning Balance as of 6/30/25 860,024
FY26 Use of Non-Lapsing -
Ending Balance as of 3/31/26 860,02447
Page 1 of 2
Board of Finance
Agenda Item Submission
1. Title of Submission: Budget Discussion – Fiscal Year 2026/2027
2. Date of Board Meeting: April 21, 2026
3. Individual or Entity Making the Submission:
Amy Meriwether, Director of Finance
4. Action Requested of the Board of Finance:
Proposed motion to be provided as part of the budget motions
5. Summary of Submission:
Budget Updates:
As you may recall the motor vehicle mill rate is capped by the State of CT at 32.46 mills. The
combined mill rate between the Town and the Fire District cannot exceed the 32.46 mills. After a
prior discussion with the State of CT we were told the Town should take the first 32.46 mills, which
means the Fire District would get zero. The Fire District would then get a direct reimbursement
from the State for their mill rate that exceeds the 32.46 mills the Town already charged taxpayers.
(Reminder: The State reimburses one year in arrears)
After the release of the Governor’s budget the Town was notified by the Fire District that they
would not be getting any reimbursement from the State. In order to trigger the reimbursement the
Fire District has to report a mill rate, even if it 0.1 mills, contrary to what had previously been stated.
After much back and forth with the State they are final in their position and the issue needs to be
worked out between the Town and the Fire District.
There was a meeting on April 8th with the Fire District, Town Manager, Finance Director, First
Selectman and Board of Finance Chair where the Fire District requested the Town set the motor
vehicle mill rate for the upcoming budget at 32.36 mills so they could set a motor vehicle mill rate of
0.1 mills and trigger the State reimbursement. This request is being brought forward to the full
Board of Finance for consideration.
What does this mean for the fiscal year 2026/2027 budget?
When the Board of Finance sets the motor vehicle mill rate after referendum, it will be set at 32.36
mills. This would decrease revenues to the Town by about $30K in fiscal year 2026/2027. That $30K
would then become part of the State motor vehicle reimbursement and be reimbursed to the Town48
Page 2 of 2
in fiscal year 2027/2028. The impact of this would be increasing the proposed tax increase from
2.15% to 2.18% or an increase of $3 per taxpayer.
Options for Consideration
1. Reduce expenditures by $30K to keep the mill rate at the 2.15% tax increase
2. Keep the mill rate at a 2.15% tax increase and keep expenditures as presented. The Town
budgets a tax collection rate of 98.5% when actual collections are around 99.5%, which
generates revenue of about $700K. If we do not change expenditures but keep the mill rate at
the 2.15% tax increase, the $700K will be reduced to $670K to offset the reduction in motor
vehicle mill rate.
Pending Items
At the public hearing on April 7, 2026 the Board of Finance requested staff to reach out to the
Town’s investment advisor and health insurance advisor for updated interest rate assumptions for
investment income and updated health insurance premiums rates for any potential budgetary
impact.
The Town’s investment advisor has come back with an updated interest rate assumption of 3.5% for
the 2026/2027 budget. The Town originally budgeted an interest rate of 3.25%. This generates an
additional $180K in investment income that can be used to offset the $30K revenue deferral.
The updated health insurance premium rates are still outstanding. Lockton will have an update to
the Town by Monday, April 20, 2026. Staff will report out any updates at the meeting.
6. Financial Impact:
Included in Summary of Submission
7. Description of Documents Included with Submission:
None49
Marc S. Nelson, MPA Amy Meriwether
Town Manager Director of Finance/Treasurer
FINANCE DEPARTMENT
www.simsbury-ct.gov Mon. 8:30 a.m. – 7:00 p.m. Tel. (860) 658-3200
933 Hopmeadow Street Tue. Wed. Thu. 8:30 a.m. – 4:30 p.m. Fax. (860) 658-3206
Simsbury, CT 06070 Fri. 8:30 a.m. – 1:00 p.m. finance@simsbury-ct.gov
MEMORANDUM
To: Board of Finance
From: Amy Meriwether, Finance Director/Treasurer
cc: Marc Nelson, Town Manager
Date: April 21, 2026
Subject: Finance Director’s Report
Fiscal Year 2025/2026 Approved Supplemental Appropriations
Below is a listing of supplemental appropriations approved by the Board of Selectmen and the
Board of Finance as of April 10, 2026:
 Aquarion Paving Funds - $196,000
 Eno Memorial Hall Parking Lot - $110,000
 15 Sugar Loaf Cut Improvements - $100,000
 State of CT Early Voting - $17,467
Total Supplemental Appropriations - $423,467 or 0.33% of the FY25/26 adopted budget
Fiscal Year 2025/2026 Tax Abatements
Below is listing of approved abatements and fiscal impact for the period ending June 30, 2026:
Entity Address
Assessment
Reduction
Tax
Reduction
Abatement
Year
Solectran 690 Hopmeadow 1,696,881 56,031 5 of 10
Ensign Bickford 632 Hopmeadow 1,366,717 45,129 5 of 10
Totals 3,063,598 101,16050
Fiscal Year 2025/2026 Grants Applications and Awards
Below is a chart of all grant applications and their current status as of April 9, 2026:
Grant Application Amount Status
Enhanced Dial A Ride Grant 35,367 Awarded
Youth Service Bureau 32,272 Awarded
State of CT Early Voting Grant 17,467 Awarded
FY26 Greater Hartford Transit District Dial A Ride Grant 6,660 Awarded
Aging & Disability Commission's Souper Thursday 5,000 Awarded
Tai Ji Quan Moving for Better Balance Grant 2,880 Awarded
Simsbury Greater Together Community Grant - Souper Thursday Program 7,500 Denied
Connecticut Humanities Quick Grant 2,017 Denied
CRCOG LOTCIP Grant - County Rd/Hoskins Rd Intersection Improvements 1,300,000 Pending
CT DEEP 2025 Recreational Trails Grant 248,000 Pending
Fiscal Year 2025/2026 Savings Initiatives
Police Department
 Bullet Proof Vest Grant anticipated to yield savings of approximately $10,500
 Reduced the cost for uniform cleaning by approximately $10,000 moving to a uniform
cleaning services instead of a monetary distribution.
 Most of the patrol fleet has been converted from combustion to hybrid cruisers and we
continue to see a reduction in gallons of gas. Although overall department total gallon usage
is not a true measure of savings due to combustion versus hybrid vehicles, it is an indicator.
We have further data that shows a significant reduction in miles per gallon between the two
types. The hybrids are getting on average 4‐5 more miles per gallon and the idle times are
drastically reduced with the hybrid vehicles. The police budget in FY26 is for 3 hybrids to
replace the last of the combustion engines. We also plan to have the 2025 model cost and
not the 2026 model cost.51
Human Resources
 Transitioned retiree health benefits from Anthem to Retiree First. Monthly expenditures
reduced from $25K/month to $17K/month.
Library
 Through partnerships, collaborations and the use of volunteers to present programs, the
Library saved over $56,000 in program costs.
Pooled Investments
The Town’s pooled cash deposit balance as of March 31, 2026 was $4,117,096.48. As of month-end,
the investment balances for all funds combined were as follows:
Type of Investment Amount Rate Maturity Date Note
CT STIF $ 16,392,017.12 3.72% N/A Effective 30-Day Yield
Liberty - Money Market $ 42,688,785.29 3.70% N/A
Liberty CD – 9 Month $ 10,221,377.17 3.83% 6/5/26
TOTAL: $ 69,302,179.5852
1
Town of Simsbury
Board of Finance
Regular Meeting Minutes
April 7, 2026
Present:
Members in attendance: Lisa Heavner, Lalitha Shivaswamy, Regina Pynn, Mike Doyle, Bert Helfand, and
Art Wallace.
Others in attendance included: Amy Meriwether, Finance Director; Marc Nelson, Town Manager; Tom
Fitzgerald, Deputy Town Manager; Wendy Mackstutis, First Selectman; Matt Curtis, Superintendent of
Schools; Neil Sullivan, Assistant Superintendent for Administration; Jeff Tindall, Board of Education
Chair; Melissa Appleby, Budget Director; Lisa Miceli, Library Director; Nick Boulter, Chief of Police;
Tom Roy, Director of Public Works; Tom Tyburski, Director of Culture, Parks, and Recreation; Kelsey
Chamberlain, Deputy Finance Director; and other interested parties.
Call to Order:
Ms. Heavner called the meeting to order at 6:01 p.m.in the Friends of the Library Program Room in the
Simsbury Public Library.
Pledge of Allegiance:
Everyone stood for the Pledge of Allegiance.
Ms. Heavner opened the meeting by recognizing the work of all parties involved in the budget process so
far, and introduced the Board of Finance members. First Selectman Wendy Mackstutis introduced herself
and recognized Town staff in attendance. Board of Education Chair Jeff Tindall introduced himself and the
members of his Board and BOE staff in attendance.
Mr. Doyle noted that Public Audience is listed on the agenda before the Public Hearing content. Mr. Helfand
made a motion to amend the agenda to move Public Audience after the presentations to be made under the
first agenda item. Dr. Shivaswamy seconded the motion. All were in favor and the motion passed
unanimously.
Agenda Items:
a) Public Hearing on Fiscal Year 2026/2027 Operating and Capital Budgets
Ms. Heavner reviewed the Board of Finance presentation. The presentation included a summary of the
estimate mill rate and taxes, based on the budgets passed by the Board of Education and Board of
Selectmen. She presented a mill rate increase of 2.63%, which includes a proposed increase in the Fire
District’s mill rate. Ms. Heavner also reviewed the budget context, including: tax increase history, the
consumer price index of 2.4%, the cost-of-living adjustment of 2.8%, and mill rates and grand lists of
peer communities.
Ms. Heavner reviewed the expenditure summary, including a breakdown by department, and the impact
of debt service and other fixed costs. Ms. Heavner also reviewed the revenue summary, noting a
decrease in non-tax revenue such as investment income. She provided an overview of the grand list
growth trends and projections and noted the increase for FY27 of 0.90%. The presentation also included
a review of the non-general fund budgets, including WPCA, Simsbury Farms, and Residential Property.53
2
Ms. Heavner reviewed the Capital Improvement Plan (CIP), and discussed the use of reserves in the
debt service plan. She also noted that the budget will use the OPEB trust to pay for retiree benefits. Ms.
Heavner closed with a note of the challenges ahead, including: uncertain federal funding, inflation,
utility costs, and education funding from the state.
Mr. Tindall presented the Board of Education budget, which represents an increase of $2.79%. He
provided an overview of the budget context, and discussed the return on investment with student
achievement. He said that the starting point for the budget development process was an increase of
3.85% or approximately $3.4 million. Through the process, various reductions were made, reducing
the increase by 1.3%. This was offset slight by additions of 0.24%, resulting in the total increase of
2.79%. Mr. Tindall reviewed the budget additions, including: Latimer Lane special education teacher,
0.6 speech and language teacher, funds for pupil services summer planning, 0.2 strings teacher at
Squadron and Tariffville, funds for nursing at HJMS, a reclassification in the high school counseling
office, and additional health aide hours.
Ms. Mackstutis presented the Board of Selectmen budget, opening with the First Selectman’s budget
message, major themes of the budget, and a review of current year accomplishments. She noted the
budget represents a 3.39% in expenditures. She reviewed the revenue assumptions, and discussed the
various budget pressures, including: minimal grand list growth, a decrease in investment income, and
an increase in health insurance.
Ms. Mackstutis presented an overview of the projected budget increases in surrounding towns as
compared with Simsbury. She reviewed the budget highlights, including: support for the Simsbury
Volunteer Ambulance Association, a budgeted increase in the vacancy rate related to the Police
Department, a new in-house economic development resource, and zero-based budgeting at the Library.
She also noted the restructuring of the budgeting mechanism for capital non-recurring (CNR), indicating
that small capital items in the operating budget are funded through the general fund or the capital reserve
fund. She said that the goal is to reduce the use of capital reserves as we more accurately predict year-
end outcomes.
Ms. Mackstutis provided an overview of the CIP, noting that the Board of Finance guidance limits
bonding to $5 million every year or $10 million every two years. She said that this limitation results in
a large category of unfunded projects in years two through six of the CIP.
Ms. Mackstutis noted that the Fire District annual meeting is scheduled for May 11, where taxpayers
can learn more about the Fire District budget.
Public Audience:
Joan Coe, 26 Whitcomb Drive, said that government should run like a business, and that expenditures need
to be decreased. She advocated for a ten percent cut across both the operating and capital budgets, and
encouraged residents to vote “no” on the budgets as presented.
Chris Kelly, 10 East Tomstead Road, spoke on behalf of the Simsbury Volunteer Ambulance Association.
He provided an update on the procurement of the new ambulance, noting that the cost is $253,000 and
SVAA has raised approximately $50,000 in donations so far. He explained SVAA’s funding model, with
a focus on how the maximum amount that SVAA can charge for transports is below the actual costs, and54
3
that Medicaid only reimburses 35 percent of that amount.
Karen Jacob, 9 Red Stone Drive, asked whether we are being impacted by state and federal funding cuts.
Holly McGrath, 2 Old Barge Road, spoke in support of the budget and described the zero-based budgeting
process used at the Library this year.
Novia Gray, 90 Hopbrook Road, asked if the school district is required to provide services to students who
are identified as “gifted and talented.”
Lori Boyko, 15 Oakhurst Road, said that the budgets as presented are unsustainable. She said that there are
areas of the budget that can be cut, noting a few specific examples in both the operating and capital budgets.
Holly McGrath, 2 Old Barge Road, spoke in support of the Neighborhood Paths and Connecting Trails
project in the CIP. She noted that the path from Owens Brook to Henry James Memorial School is
particularly important for kids.
Ms. Heavner asked for input on the question regarding cuts in state and federal funding. Mr. Curtis said that
there are no significant impacts at this time. Ms. Mackstutis said that the Capital Region Council of
Governments has been discussing concerns regarding potential cuts in the area of transportation, which
could impact federal funding for roads.
Ms. Heavner asked the Superintendent to weigh in on the question regarding services for gifted and talented
students. Mr. Curtis said that the district is mandated to set criteria for gifted and talented, but that Simsbury
does not have an identified track for this.
Mr. Doyle made a motion to extend the public hearing to April 21, 2026. Dr. Shivaswamy seconded the
motion. All were in favor and the motion passed unanimously.
b) Budget Discussion and Possible Action
Ms. Heavner opened the discussion for comments from Board members. Mr. Wallace said that the
budgets came in at a reasonable level and a strong starting point for review and discussion. Mr. Helfand
recognized the Boards of Education and Selectmen for meeting the Board of Finance guidance, and said
that the level of scrutiny reflects the Board of Finance’s anticipation of challenges in future years,
including the revaluation, which will shift the tax burden from commercial properties to residential
properties. Dr. Shivaswamy said that she greatly values the services in Simsbury, and wants to keep the
Town accepting, open, and fiscally responsible. Ms. Pynn said that the Board’s discussions will focus
on the minutiae of various budgeting mechanisms, and stressed that this detailed review is critical for
the public to understand what they will be voting on. Mr. Doyle encouraged people to vote, noting that
voter turnout at the budget referendum is typically low.
Ms. Heavner asked if the budget complies with the municipal cap; Ms. Meriwether said “yes.” Ms.
Heavner asked Mr. Curtis and Mr. Nelson whether there is anything beyond the current allocations in
the budget that they are aware of that are unfunded. Both said “no.”
Ms. Heavner asked Ms. Meriwether to check in with the investment advisors regarding any change in
anticipated interest rate assumptions. She also said that the Board will anticipate an update on health
insurance claims at the next meeting. Ms. Heavner noted that the capital resolutions were distributed
and need to be reviewed. She requested that the draft operating budget motions and line item detail be55
4
sent to the Board one week in advance of the next meeting. Ms. Heavner also asked for a
recommendation on how to plan for potential fluctuations in the price of fuel. She also asked that a
motion be included for the assignment of general fund reserves to account for any potential funding cliff
in FY28 related to the use of health insurance reserves in FY27.
Dr. Shivaswamy made a motion to request an advisory opinion and meeting with the Town Attorney to
discuss the general fund traditional payback program. Mr. Helfand seconded the motion. All were in
favor and the motion passed unanimously.
Ms. Heavner asked about the Probate line item and the $20,000 reduction made by the Board of
Selectmen. Ms. Appleby explained that while the Board of Selectmen decided to use capital reserves to
fund this one-time expense related to a potential move of office space, the motion inadvertently removed
the $20,000 on the expense side. Ms. Mackstutis confirmed that the intent of the Board of Selectmen
was to include the expense to be funded from the capital reserve fund.
Ms. Heavner asked Mr. Nelson about the legal line item and anticipated expenses for litigation. He
noted that this line item is tight. Ms. Heavner said the Board would look to staff for a recommendation
on this, noting that the Board of Selectmen cut this line item by approximately $40,000.
Ms. Heavner asked Ms. Mackstutis if it is her recommendation to move the funding for the SVAA
ambulance to the CIP. Ms. Mackstutis said that this item would be better suited as a CIP project since
it will be owned by the Town. Ms. Heavner asked about the lease agreement; Mr. Nelson said he is
working on the details of this arrangement with the Town Attorney.
By consensus, the Board agreed that they will move $200,000 from the operating budget to the CIP for
the ambulance purchase. This will be funded by capital reserves. Discussion ensued regarding SVAA’s
fundraising campaign for this project; the total cost of the ambulance is approximately $250,000 and
SVAA has raised approximately $50,000. Ms. Pynn asked for confirmation that the donations being
raised by SVAA to support the ambulance purchase will go exclusively toward this purpose. Mr. Kelly,
on behalf of SVAA, confirmed. Ms. Heavner asked if any additional funds would offset the Town’s
contribution; Mr. Kelly confirmed. Ms. Heavner asked for details on how the ambulance will be
purchased; Mr. Nelson said he is working on the details of this arrangement with the Town Attorney.
Ms. Mackstutis clarified that in regards to the $160,000 in operating support for SVAA, $100,000 will
come from capital reserves and $60,000 will come from the opioid funds.
Ms. Heavner asked Mr. Nelson if a supplemental appropriation will be needed if the Police Department
does not meet the projected vacancy rate amount. Mr. Nelson said that management has control over
the timing of hiring staff, and can also find other savings to stay within budget if the vacancy rate is not
met.
Mr. Nelson thanked the Library staff and Board of Trustees for participating in zero-based budgeting.
Review of Minutes:
c) March 10, 2026 Regular Meeting Minutes
Dr. Shivaswamy made a motion, effective April 7, 2026, to approve the minutes of the March 10, 2026
Regular Meeting. Mr. Helfand seconded the motion. All were in favor and the motion passed
unanimously.56
5
Communications:
d) Resident Public Comments on the Fiscal Year 2026/2027 Budget
e) Fiducient Advisors February 2026 Market Review
f) Moody’s Credit Rating Profile for the Town of Simsbury
Ms. Meriwether said that this report is a town profile that comes out from Moody’s each year and shows
certain credit metrics. She said that it indicates that we are at or above other Aaa-rated communities in
regards to key indicators. The only metric that we come in lower than the median is the available fund
balance ratio; this is due to the fact that the comparisons are made on a national level, and because we
have the ability to tax as necessary, the metric does not negatively impact our credit rating. Ms. Heavner
reiterated that Simsbury is rated Aaa, and this is important because it has a positive impact on our
borrowing costs, which impacts our debt service line item.
Adjourn:
Mr. Doyle made a motion to adjourn the Regular Meeting of the Board of Finance at 7:55 p.m. Dr.
Shivaswamy seconded the motion. All were in favor and the motion passed unanimously.
Respectfully submitted,
Melissa Appleby
Budget Director57
Dear Ms. Heavner,
I am writing to you as a concerned constituent and a regular library patron who relies on our
local library for access to books, classes, technology, and community resources. I urge you to
oppose any further cuts to our town public library funding.
This institution is essential to education, personal growth, and the overall well-being of our
community. The library has played a significant role in my life and the lives of many others in our
community.
Thirty-five years ago my husband and I looked for a community to make our home and raise our
children. We knew that the school district was excellent, but we could not tour the schools at
that time. However we visited the town and realized that the public library told the story of this
town’s excellence.
We toured the library and saw a wonderful community center where children were learning,
teens were involved, and classes for everyone were offered. People were attending a free
concert, viewing an art exhibit, and business/technology classes were helping residents learn
new skills.
Whether it’s checking out books, attending educational programs, using free Wi-Fi, or bringing
my children to storytime, the library is an invaluable resource that we depended on as a family
regularly. Now that we are retired, we continue to benefit from the programs and resources of
our public library.
The recent reductions made by the Board of Selectmen to library staff, funding for books, and
reduction of library hours will affect residents across the library services. Limiting funding for
public libraries has a devastating impact on people in our town as it serves so many. Did you
know that our community library has many more patrons than our surrounding towns?
The BOS cut library services for town residents. It will mean fewer books and resources,
reduced programming for children and adults, and limited access to technology for those who
don’t have it at home. Many people depend on the library for job searching, resume building,
and online learning, and without adequate funding, these opportunities will be less available.
I respectfully ask you to advocate for no further cuts for our public library and to recognize its
importance in our community. Our library is more than just a building filled with books, it is a
lifeline for education, information, and connection.
Thank you for your time and for your commitment to our community. I hope that you will stand
with me in allowing NO more cuts to the library budget.
Sincerely,
Leslie Imse, 326 Bushy Hill Road58
3/24/202659
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Town of Simsbury
Board of Finance
Special Meeting Minutes
April 10, 2026
Present:
Members in attendance: Lisa Heavner, Lalitha Shivaswamy, Bert Helfand (by Zoom), and Art Wallace (by
Zoom).
Others in attendance included: Amy Meriwether, Finance Director; Marc Nelson, Town Manager; Bob
DeCrescenzo, Town Attorney; Wendy Mackstutis, First Selectman; and Melissa Appleby, Budget Director.
Call to Order:
Ms. Heavner called the meeting to order at 2:02 p.m.in the Main Meeting Room of the Simsbury Town
Hall.
Agenda Items:
a) Capital Non-Recurring Funding Legal Discussion with Town Attorney
Ms. Heavner said that the Board is looking for a legal opinion before it proceeds with budget adoption,
specifically regarding “traditional payback” mechanism of budgeting.
Mr. DeCrescenzo opened by explaining that a current year tax levy pays for the expenses in that year,
unless it is related to debt service. He said that Section 808 of the Town Charter allows a capital non-
recurring (CNR) account to be established, as it references Connecticut General Statutes Chapter 108,
which enables a municipality to use current year funds to pay off a prior year’s expenses. He said that
the Town must follow the procedures in Chapter 108, which calls for a recommendation of the Board
of Finance to be approved by the legislative body, which is the Board of Selectmen.
Ms. Heavner said that the legislative body is the voters at referendum, for the purposes of initial
appropriations. She also said that CGS Section 108 talks about a capital reserve fund, which is different
from Simsbury’s CNR fund. She said that the traditional payback method of budgeting is permitted
under CGS Chapter 106, Section 7-346. Discussion ensued regarding the relevance of this statute to
Simsbury’s traditional payback program. Mr. DeCrescenzo said that Simsbury’s CNR projects do not
distort the overall budget, and therefore this statute does not apply. Ms. Heavner said that the total
amount of projects – $416,250 – is material to the overall budget.
Mr. DeCrescenzo said that the Town should adopt an ordinance to spell out how Chapter 108 would be
implemented in Simsbury. Mr. Helfand asked whether the Board of Selectmen would have taken formal
action at some point to approve the traditional payback program. Mr. DeCrescenzo said that this
program was only approved through the budget process each year, except in this budget cycle.
Ms. Meriwether walked through the relevant sections in the audit and reviewed the CNR fund analysis.
She pointed to the interfund balance section of the audit, noting that there are no interfund balances
pertaining to capital. She turned to the section on interfund transfers, where the $416,250 can be found.
She said that because this is an interfund transfer, there is nothing to be paid back, and there is no loan.60
2
Ms. Meriwether reviewed a spreadsheet showing how the CNR fund was set up. She said that the fund
was prefunded, so there are funds available to cover the expenses.
Mr. Nelson said that the reference to CGS Chapter 106, Section 7-346 is defeated by the “in perpetuity”
nature of this. He said the intent of the statue is to smooth a large expense, but what Simsbury does
with the $416,250 allocation is the same every year.
Ms. Meriwether said that from an accounting standpoint, nothing needs to be satisfied as there is a zero
balance in the fund every year. Mr. DeCrescenzo noted that the fund will still be in use with the Board
of Education, so there are no concerns about “discontinuance.”
Ms. Heavner asked for clarification on prior references to having $1.9 million in the CNR fund. Ms.
Meriwether said that there is $1.9 million in the fund, but that the original intent was to use those funds
to offset the expenses. She said we can change the practice by doing nothing, as the fund always balances
to zero. Ms. Heavner said that this is a policy decision. Dr. Shivaswamy said she needs time to evaluate
this. Mr. Wallace said that he is comfortable moving ahead with the recommendation of the Town
Manager and Board of Selectmen, as long as this shift is properly communicated.
Ms. Heavner said that there is no legal prohibition for doing what the Town Manager and Board of
Selectmen have recommended, or for going back to the traditional payback. She suggested keeping the
traditional payback program in place and reviewing it over the summer. She said that this program was
set up to avoiding cutting cash contributions to capital, and that the current proposed budget does reduce
cash for capital in the operating budget.
Mr. DeCrescenzo said that it would be a good time to develop an ordinance regarding the capital reserve
fund. Mr. Nelson said that the CNR fund was not set up under Section 7-346. Mr. DeCrescenzo said
that he could not find a reference to Section 7-346, and that the CNR expenditures do not meet that
threshold. He said the structure fits better under Chapter 108.
Adjourn:
Mr. Helfand made a motion to adjourn the Special Meeting of the Board of Finance at 3:16 p.m. Dr.
Shivaswamy seconded the motion. All were in favor and the motion passed unanimously.
Respectfully submitted,
Melissa Appleby
Budget Director61
62
63
Year 0 Year 1 Year 2 Year 3 Year 4 Year 5
General Fund (GF) Revenues
Town
Reserve (Prefunded Balance) A 832,500 A
Town Year 1 CNR GF Contribution 83,250 Pmt 1 83,250 Pmt 2 83,250 Pmt 3 83,250 Pmt 5 83,250 Pmt 5 416,250 Total Pmts
Town Year 2 CNR GF Contribution 83,250 83,250 83,250 83,250 B
Town Year 3 CNR GF Contribution 83,250 83,250 83,250
Town Year 4 CNR GF Contribution 83,250 83,250
Town Year 5 CNR GF Contribution 83,250
Total Town CNR Revenues 832,500 83,250 166,500 249,750 333,000 416,250 D
Board of Education
Reserve (Prefunded Balance) A 1,100,600 A
BOE Year 1 CNR GF Contribution 110,060 110,060 110,060 110,060 110,060
BOE Year 2 CNR GF Contribution 110,060 110,060 110,060 110,060
BOE Year 3 CNR GF Contribution 110,060 110,060 110,060
BOE Year 4 CNR GF Contribution 110,060 110,060
BOE Year 5 CNR GF Contribution 110,060
Total BOE CNR Revenues 1,100,600 110,060 220,120 330,180 440,240 550,300 D
Total Revenues 1,933,100 193,310 386,620 579,930 773,240 966,550
Expenditures
Town CNR ‐ 416,250 416,250 416,250 416,250 416,250 D
BOE CNR ‐ 550,300 550,300 550,300 550,300 550,300 D
Total Expenditures ‐ 966,550 966,550 966,550 966,550 966,550
Net Income/(Loss) 1,933,100 (773,240) C (579,930) (386,620) (193,310) ‐
Fund Balance, July 1 ‐ 1,933,100 1,159,860 579,930 193,310 ‐ D
Fund Balance, June 30 1,933,100 1,159,860 579,930 193,310 ‐ ‐ D
Fund Balance Breakdown E
Reserve (Prefunded Balance ‐ Town) 832,500 832,500 832,500 832,500 832,500 832,500
Town Year 1 CNR Balance Payoff (333,000) (249,750) (166,500) (83,250) ‐
Town Year 2 CNR Balance Payoff (333,000) (249,750) (166,500) (83,250)
Town Year 3 CNR Balance Payoff (333,000) (249,750) (166,500)
Town Year 4 CNR Balance Payoff (333,000) (249,750)
Town Year 5 CNR Balance Payoff (333,000)
Total Town Fund Balance Portion 832,500 499,500 249,750 83,250 ‐ ‐
Reserve (Prefunded Balance ‐ BOE) 1,100,600 1,100,600 1,100,600 1,100,600 1,100,600 1,100,600
BOE Year 1 CNR Balance Payoff (440,240) (330,180) (220,120) (110,060) ‐
BOE Year 2 CNR Balance Payoff (440,240) (330,180) (220,120) (110,060)
BOE Year 3 CNR Balance Payoff (440,240) (330,180) (220,120)
BOE Year 4 CNR Balance Payoff (440,240) (330,180)
BOE Year 5 CNR Balance Payoff (440,240)
Total BOE Fund Balance Portion 1,100,600 660,360 330,180 110,060 ‐ ‐
Total Fund Balance 1,933,100 1,159,860 579,930 193,310 ‐ ‐
Notes
B ‐ If the model kept going the Year 2 CNR would be paid off in Year 6, Year 3 CNR would be paid off in Year 7 etc
D ‐ As you can see when the fund is finally built out after Year 5, it is in a position where the annual contributions into the fund equal the expenditures and the fund balance is zero
CNR Fund Origination Analysis
A ‐ One 1/5 of the traditional payback is charged to the General Fund in the year of purchase. The remaining 4/5 are paid from the General Fund over the next 4 years. The 4/5 of the balance to be paid over 4
years was prefunded as not to have an interfund loan situation or have the CNR fund in a deficit position.
C ‐ If the CNR had not been prefunded and the $1.9M reserve did not exist, the fund would be in a deficit of $773,240 and this would be considered an interfund loan. But because the payment were prefunded,
the fund is not in a deficit position and there is no interfund loan
E ‐ The Fund Balance breakdown section shows what makes up the fund balance being reported. In Year 5 when it is built out you will see the prefunded amount offsets the amounts still to be paid on the CNR
expenditures from Years 2‐5. The is pattern will carry on in perpetuity as you will see on the "Current CNR Fund Analysis" tab64
2021/2022 A 2022/2023 A 2023/2024 A 2024/2025 A 2025/2026 A
2026/2027
Proposal
General Fund (GF) Revenues
Town
Town 2018 CNR from GF 83,250 ‐ ‐ ‐ ‐ ‐
Town 2019 CNR from GF 83,250 83,250 ‐ ‐ ‐ ‐
Town 2020 CNR from GF 83,250 83,250 83,250 ‐ ‐ ‐
Town 2021 CNR from GF 83,250 83,250 83,250 83,250 ‐ ‐
Town 2022 CNR from GF 83,250 83,250 83,250 83,250 83,250 ‐
Town 2023 CNR from GF 83,250 83,250 83,250 83,250 ‐
Town 2024 CNR from GF 83,250 83,250 83,250 ‐
Town 2025 CNR from GF 83,250 83,250 ‐
Town 2026 CNR from GF 83,250 ‐
Town 2027 CNR from GF ‐
Total Town CNR Revenues 416,250 416,250 416,250 416,250 416,250 ‐
Board of Education
BOE 2018 CNR from GF 110,060 ‐ ‐ ‐ ‐ ‐
BOE 2019 CNR from GF 110,060 110,060 ‐ ‐ ‐ ‐
BOE 2020 CNR from GF 110,060 110,060 110,060 ‐ ‐ ‐
BOE 2021 CNR from GF 110,060 110,060 110,060 110,060 ‐ ‐
BOE 2022 CNR from GF 110,060 110,060 110,060 110,060 110,060 ‐
BOE 2023 CNR from GF 110,060 110,060 110,060 110,060 110,060
BOE 2024 CNR from GF 110,060 110,060 110,060 110,060
BOE 2025 CNR from GF 110,060 110,060 110,060
BOE 2026 CNR from GF 110,060 110,060
BOE 2027 CNR from GF 110,060
Total BOE CNR Revenues 550,300 550,300 550,300 550,300 550,300 550,300
Total Revenues 966,550 966,550 966,550 966,550 966,550 550,300
Expenditures
Town CNR 416,250 416,250 416,250 416,250 416,250 ‐
BOE CNR 550,300 550,300 550,300 550,300 550,300 550,300
Total Expenditures 966,550 966,550 966,550 966,550 966,550 550,300
Net Income/(Loss) ‐ ‐ ‐ ‐ ‐ ‐
Fund Balance, July 1 ‐ ‐ ‐ ‐ ‐ ‐
Fund Balance, June 30 ‐ ‐ ‐ ‐ ‐ ‐
Fund Balance Breakdown
Reserve (Prefunded Balance ‐ Town) 832,500 832,500 832,500 832,500 832,500 ‐
Town 2019 CNR Balance Payoff (83,250)
Town 2020 CNR Balance Payoff (166,500) (83,250)
Town 2021 CNR Balance Payoff (249,750) (166,500) (83,250)
Town 2022 CNR Balance Payoff (333,000) (249,750) (166,500) (83,250)
Town 2023 CNR Balance Payoff (333,000) (249,750) (166,500) (83,250)
Town 2024 CNR Balance Payoff (333,000) (249,750) (166,500) ‐
Town 2025 CNR Balance Payoff (333,000) (249,750) ‐
Town 2026 CNR Balance Payoff (333,000) ‐
Total Town Fund Balance Portion ‐ ‐ ‐ ‐ ‐ ‐
Reserve (Prefunded Balance ‐ BOE) 1,100,600 1,100,600 1,100,600 1,100,600 1,100,600 1,100,600
BOE 2019 CNR Balance Payoff (110,060)
BOE 2020 CNR Balance Payoff (220,120) (110,060)
BOE 2021 CNR Balance Payoff (330,180) (220,120) (110,060)
BOE 2022 CNR Balance Payoff (440,240) (330,180) (220,120) (110,060)
BOE 2023 CNR Balance Payoff (440,240) (330,180) (220,120) (110,060)
BOE 2024 CNR Balance Payoff (440,240) (330,180) (220,120) (110,060)
BOE 2025 CNR Balance Payoff (440,240) (330,180) (220,120)
BOE 2026 CNR Balance Payoff (440,240) (330,180)
BOE 2027 CNR Balance Payoff (440,240)
Total BOE Fund Balance Portion ‐ ‐ ‐ ‐ ‐ ‐
Total Fund Balance ‐ ‐ ‐ ‐ ‐ ‐
CNR Fund Analysis
Fiscal Year 2021/2022 thru Fiscal Year 2026/202765