Newtown’s Apolitical

Board Of Finance

To the Editor:

Revisiting Newtown’s charter more than eight years ago, the Charter Revision Commission recommended the creation of a Board of Finance (BOF) that would be responsible for creating policies for the day-to-day and longer term financial management of the town. In addition, the BOF was to serve as another “check and balance” with minor legislative authority, analyzing all matters financial and advising the Legislative Council. Also, its role was envisioned as being “apolitical” with the Legislative Council assuming the responsibility of addressing the political nature of issues.

Since then, the current BOF has accomplished the following:

Recommended enhancing the senior tax relief benefit helping seniors manage budget increases.

Established a commitment to open space of $2 million per year and defining a cost-benefit analysis to determine the merit of purchasing the land.

Recommended rebidding the high school expansion, saving the taxpayers $7 million.

Established a reserve account to help the town weather economic downtimes.

Established a debt policy as well as a debt guideline that has been referenced by the ratings agency Moody’s as a reason for our solid financial standing and excellent bond rating.

Achieved ratings upgrades for the town, which in turn, secured a lower cost of borrowing for capital projects, saving the town millions in tax dollars over many years.

Provided for more than 95 percent of all capital requests on the schedule requested and in the priority requested and all the while receiving a ratings upgrade as well as numerous positive reports from the ratings agency.

The BOF’s role is simple, apolitical, and clearly defined by the charter. On the eve of this election, we are hearing many ideas that are both interesting and promising. But we are also hearing “political noise,” regarding an apolitical board, from people claiming to have a tonic for ailment that doesn’t exist. Nor have they even walked a mile in the proverbial shoes having never attended a meeting.

Recently both the Republican and Democratic parties have cross-endorsed all six current members of the BOF and this event has drawn the ire of opponents in which they have labeled the endorsement as “political.” That couldn’t be further from the truth. What’s more apolitical than a cross- endorsement? All six members of the BOF, Jim Gaston, Joe Kearney, Mike Portnoy, Harry Waterbury, Martin Gersten, and John Kortze, are proud of the board’s accomplishments and to have served alongside each other. Collectively, we ask for your support and most importantly, please vote.

 Current economic conditions dictate strong financial oversight, prudent planning, and expanding on our established policies. Our record speaks to the ability of our board to find consensus and effect change and improvement. Improvement that has saved the taxpayers millions.

Respectfully submitted,

The Newtown Board of Finance

James Gaston

Joe Kearney

Harry Waterbury

Martin Gersten

Mike Portnoy

John Kortze

18 Main Street, Newtown                                          October 26, 2009