Stamford Planning Board Capital Budget Work Session - October 1, 2024

The Stamford Planning Board held a special work session on October 1, 2024, at 9:30 AM via Zoom and in-person at the Government Center sixth floor training room. The session was convened to train new board members on the capital budget process ahead of the first capital budget meeting scheduled for October 8, 2024. The meeting was led by Anthony Romano (Office of Policy and Management, OPM) and included introductions of new members Chet Salad and Jennifer (Vice Chair), along with staff Lindsay Cohen and El Gasignani. Mayor Caroline Simmons briefly attended. The meeting was informational, with no votes taken.

Discussion Items

• Capital Budget Overview: Anthony Romano explained the capital budget process, emphasizing that the Planning Board is the first of four key stakeholders (Planning Board, Mayor, Board of Finance, Board of Representatives). He described the pre-planning meeting (practice sessions for department heads), the planning board meetings (where departments present their cases), and the subsequent steps through the Mayor and other boards.
• Key Dates: Important deadlines were reviewed:
  • December 10: Last day to receive all capital requests and wait report.
  • December 15: Director of Administration (Ben Barnes) provides safe debt letter to Board of Finance.
  • January 15: Board of Finance approves safe debt letter and submits to Planning Board.
  • February 10: Public hearing required by Planning Board.
  • March 1: Planning Board must deliver its capital budget to the Mayor.
  • March 8: Mayor completes proposed capital requests to Board of Finance and Board of Representatives.
• Safe Debt Letter: The safe debt letter indicates the city’s bond capacity for the upcoming year. For the 2025 budget, the letter projected a bond issuance of $65 million, with $43 million expected to be allocated to new projects and the remainder to fund previously approved but unfunded projects (AUI – Approved but Unfunded). The board was advised that the safe debt letter is a guideline, not a binding limit.
• Tier System Discussion: The board discussed the use of a tier system (Tiers 1-4) to prioritize projects. Some members questioned its effectiveness, noting that agency priorities do not always align with the master plan. Others noted that the tier system has been used in prior years for specific purposes (e.g., ARPA fund spending, school mold remediation). The board did not decide whether to use tiers this year.
• Example Capital Request Sheet: Romano walked through an example from the previous year (a roof request for maintenance facilities) to show how the capital budget sheets are structured, including department priority, year-to-date balance, encumbrances, and historical spending. He highlighted that the Planning Board’s role is to align funding with the master plan, not to manage individual project details.

Key Outcomes

• No decisions or votes were taken during this work session.
• The next step is the first capital budget meeting on October 8, 2024, where department heads will present their requests.
• New members were encouraged to review past capital budgets and the safe debt letter available on the city website.