First Selectman at Town of Old Saybrook
Employing Organization
Team
Decision makers at Town of Old Saybrook
Assessor
Building Inspector
Commissioner
Department Head, Assistant Finance Director
Director
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Public records
Public documents that mention Carl P. Fortuna.
The board discussed several economic and administrative projects, including an appropriation request for the town's marketing program and a proposal for a redevelopment analysis of transit-oriented sites near the train station and Boston Post Road. Additionally, the meeting covered an increase in funding for an existing land use records scanning project to improve search capabilities and access.
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The board reviewed pension and benefit reports, including retiree payroll data and specific efforts regarding the recovery of overpayments for deceased plan participants. Discussions covered active employee retirement plan statistics, current balances for defined benefit and contribution plans, and outreach strategies to increase employee participation in employer matching programs. Additionally, the meeting featured a detailed presentation on the pension portfolio's performance and asset allocation in the context of current economic conditions, including interest rate volatility, inflation, rising oil prices, and bond market trends.
The board received reports from the Treasurer and the Finance Director regarding the town's financial status. The First Selectman provided updates on upcoming referendums, the Waterfront Commission, the Ferry Road Field Project, the solid waste contract, and a library walk-through. The board conducted an executive session before adjourning.
The meeting focused on two primary resolutions presented for discussion ahead of a referendum. The first resolution addressed an appropriation of funds for the demolition and reconstruction of the Department of Public Works garage, to be financed through the issuance of municipal bonds or notes and existing capital funds. The second resolution concerned an appropriation for the renovation and expansion of the Katharine Hepburn Cultural Arts Center, with financing proposed through bonds, notes, and capital campaign funds.
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