Board approves budget transfer and performance reports; staff outlines bond conversion plans

At its Dec. 16 meeting the Torrington Board of Finance approved a budget transfer and amendment request for fiscal year 2025–26, contingent on city council approval, and accepted performance reports for the city through Nov. 30, 2025.

Chair introduced the budget-transfer item (the manager of budgets' letter dated Dec. 10, 2025 was cited). A member asked whether other contracts remain to be presented; staff replied this will be the last Board of Finance action for the WPCA contract, which will proceed to city council. The board approved the transfer motion.

On performance reports, a member raised concerns earlier voiced at a Board of Safety meeting about overtime details and thanked chiefs for more detailed reporting; Chief Baldwin and Chief Tripp were noted as having provided information. The board moved and approved acceptance of the performance reports.

Finance staff member Dan Barley reported an upcoming meeting with the city’s financial advisor and bond counsel to convert roughly $22,350,000 of tax‑anticipation notes taken for the high-school project into bonds and to consider issuing up to $700,000 of previously authorized but unissued bonds for a middle-school roof. Barley said staff will prepare a preliminary official statement for bidders after that meeting.

Tax assessor Stacy Maldonado told the board the grand list is on track to be signed on time. Mayor Espino announced the budget process timeline (department budgets due Jan. 14) and said she will assemble a budget subcommittee comprising one Republican and one Democrat from the Board of Finance; members volunteered.

The meeting adjourned following routine closing items.