Greenwich finance board reconciles $9 million in old bond funds
Other Committee · Meeting of April 21, 2026
Greenwich finance board clears $9 million in decade-old bond funds, presses staff on suspended speed cameras. The Board of Estimate and Taxation voted 12-0-0 to reconcile 11 years of bonded capital projects, directing $7,623,052.18 to the Central Middle School project and $1,395,144.16 to the Cos Cob pump station. The board also accepted the town's fiscal 2025 federal single audit, which found three significant deficiencies and three material weaknesses, unanimously.
Comptroller Joan Lynch told members the town received a $480,000 payment from vendor Blue Line Solutions on April 16 despite the camera program being suspended April 2, tied to 4,822 March citations. Member Tarkington said the cameras cover "a small area of town dominated by the private schools." Member Bednar pressed on potential lease liability if the cameras stay off permanently; Lynch said the signed contract specifies "no cost" to the town.
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- The complete report — 919 words
Source: the Other Committee meeting of April 21, 2026, reported from the official video recording and transcript.
The Full Article
GREENWICH — April 21, 2026 — The Greenwich Board of Estimate and Taxation voted unanimously Tuesday to reconcile 11 years of bonded capital projects, clearing the way to direct more than $9 million in excess bond proceeds toward the Cos Cob pump station and the Central Middle School project.
The board, chaired by Weissbrodt, also accepted the town's fiscal year 2025 federal single audit despite six reported deficiencies, and spent much of the meeting pressing finance staff on the legal status of the town's suspended speed camera program, which continued collecting payments from its vendor even while switched off.
The Full Story
The bond reconciliation resolution, presented by Comptroller Joan Lynch and reviewed by bond counsel Keisha Palmer of Robinson & Cole, closed out project appropriations dating to fiscal 2008 and deauthorized roughly $6.6 million in bond authority that had never been issued. Budget Committee Chair Erickson told the board her committee approved the measure 4-0 last week, after amending it at Tarkington's suggestion to separate sewer-related proceeds from general fund proceeds. Of the $9,018,196.34 in total excess proceeds identified, $1,395,144.16 will go to the Cos Cob pump station and $7,623,052.18 to the Central Middle School project. Only one of the underlying adjustments, a fiscal 2008 project, required a new appropriation, of $2,629, which fell below the board's $5,000 approval threshold. The board approved the resolution 12-0-0 on a voice vote.
The board separately accepted the town's federal and state single audit for the year ended June 30, 2025. Deschamps, presenting for the Audit Committee, said auditors from RSM identified three significant deficiencies, in federal and state awards, grant revenue, and completeness and accuracy of grant reporting, and three material weaknesses, involving suspension and debarment procedures, equipment and real property inventory, and a reporting element. He praised the comptroller's office for its corrective action plan.
"In any audit, having a lot of experience in this area, you're going to find these types of findings from time to time. And what becomes important is management's ability to identify them, address them, and correct them." — Deschamps, Audit Committee
The board's longest discussion centered on the town's speed camera program, suspended April 2 over incomplete state-mandated procedural steps. Lynch reported the town nonetheless received a $480,000 payment from vendor Blue Line Solutions on April 16, tied to 4,822 citations issued in March, averaging 319 per day, up from 277 per day in February. Tarkington cautioned against extrapolating those numbers citywide.
"I'll point out that these cameras are in a small area of town dominated by the private schools, and the private schools were on vacation half of that month." — Tarkington, board member
Bednar asked whether the town faces any liability under its lease with the camera operator if the cameras are permanently switched off, and separately whether the town could be forced to refund citation revenue if the program is found to have been improperly authorized. Lynch said only that the signed contract specifies no cost to the town but that liability questions belong to the law department. Police Chief Heavey is expected to update the Board of Selectmen on the program at its next meeting.
"It's my understanding there's a contract that says no cost. That's the contract that was signed. That's what was agreed." — Lynch, comptroller
Elsewhere, Fenton updated the board on the Riverside School building project, reporting an architectural RFP issued March 31, a well-attended bidder walk-through April 7, and bid openings this week. He said adding two pre-kindergarten classrooms to the project, under a state law that boosts construction reimbursement 15 percentage points when a school includes early-childhood space, could save the town roughly $5 million against the project's $45.5 million cost estimate. A Board of Education vote on the change could come in May. Fisher, representing the board on the Central Middle School Building Committee, said a contingency funding request will go through the Budget Committee in May before reaching the full board and then the Representative Town Meeting in June.
Why It Matters
The bond cleanup frees up more than $9 million for two active capital projects without new borrowing, while the speed camera questions leave open whether the town keeps collecting vendor payments, and whether it could owe refunds, while the program sits idle pending state approval steps. The Riverside pre-kindergarten decision, expected from the Board of Education in May, could reshape both the building's design and the town's reimbursement math by an estimated $5 million. The Central Middle School contingency request moves to the Budget Committee in May and the RTM in June.
Key Motions & Votes
- Vote: Reconciliation and deauthorization of 11 years of bonded capital project funds Tally: For: 12, Against: 0, Abstain: 0, Total: 12 - Vote: Acceptance of the federal and state single audit for fiscal year ended June 30, 2025 Tally: For: 12, Against: 0, Abstain: 0, Total: 12 - Vote: Acceptance of the assessor's report for April 2026 Tally: For: 12, Against: 0, Abstain: 0, Total: 12 - Vote: Approval of routine police-related budget adjustment applications Tally: Approved unanimously - Vote: Acceptance of the comptroller's report Tally: Approved unanimously - Vote: Acceptance of the treasurer's report Tally: Approved unanimously - Vote: Approval of minutes for March 23, March 26 and March 31 Tally: Approved unanimously - Vote: Entry into executive session to discuss potential litigation at 6:16 p.m. Tally: Approved unanimously
Source
Greenwich Community Television: Board of Estimate and Taxation meeting, April 21, 2026