Finance Committee meeting summary
At a glance
Quick context to catch up fast.
The committee recommended approval of a $7,500 bid waiver for an underground Holmberg Surge Tank inspection, a memorandum on lead and copper service line survey funding, and standing bid waivers for FY 26/27. It also added and approved a bid waiver for Lantern Hill Valley parking lot installation, while a plan to limit the FY 2027/2028 mill rate increase was continued for further discussion.
Committees mentioned
Open the committee coverage hubs tied to this summary.
Topics discussed
Was this summary helpful?
Your feedback helps us prioritize what to improve next.
What this means
The committee moved several spending and purchasing items forward, including a bid waiver worth up to $7,500 for inspection work on the underground Holmberg Surge Tank. It also backed an agreement about funding responsibilities for a federally required lead and copper service line survey, which affects water infrastructure planning. In addition, it approved a standing list of bid waiver categories for the next fiscal year and added approval for parking lot installation work at Lantern Hill Valley after fewer than three bids were received. A discussion about ways to reduce a future property tax rate increase was left open for another meeting.
Key decisions
Follow the major takeaways from this briefing.
- Approved the May 20, 2026 Finance Committee minutes
- Recommended approval of a bid waiver to CorrTech Inc. for up to $7,500 to inspect the underground Holmberg Surge Tank
- Recommended approval of a memorandum of understanding with the Ledyard Water Pollution Control Authority for the federally mandated Lead and Copper Service Line Survey
- Recommended approval of standing bid waivers for FY 26/27
- Approved adding and then recommended approval of a bid waiver to American Ground and Snow Management of Mystic, Connecticut, for Lantern Hill Valley parking lot installation
- Continued discussion of a plan to minimize the FY 2027/2028 mill rate increase
Timeline & follow-ups
Action items flagged by the community.
No follow-ups have been shared yet. Add one in the community board below.
Meeting information
Details and records from this meeting.
Finance Committee
Regular Meeting
Agenda
- In-Person: Council Chambers, Town Hall Annex Building Remote Participation: Information Noted Below:
- Join Zoom Meeting from your Computer, Smart Phone or Tablet: https://ledyardct.zoom.us/j/89664308027?pwd=Pf3i1SURCM6kkPq6cH8ntfbOHzla5A.1 by Audio Only: Telephone: +1 646 558 8656; Meeting ID: 896 6430 8027; Passcode: 804158
- CALL TO ORDER
- ROLL CALL
- RESIDENTS & PROPERTY OWNERS COMMENTS
- PRESENTATIONS / INFORMATIONAL ITEMS
- APPROVAL OF MINUTES
- MOTION to approve the Finance Committee Minutes of May 20, 2026.
- Finance Director’s Report - Fiscal Year 2025-2026
- Financial Reports - Fiscal Year 2026-2027
- OLD BUSINESS
- Discussion regarding potential uses for the funding received from the National Opioid Settlement Payments.
- Discussion scheduling Regular Quarterly Joint Finance Committee Meetings between the Town Council and Board of Education.
- Continued discussion regarding upcoming potential Grant Opportunities.
- Any Old Business proper to come before the Committee.
- NEW BUSINESS
- MOTION to amend the Agenda to add the following: MOTION to grant a Bid Waver to American Ground and Snow Management of Mystic, Connecticut, to install the Lantern Hill Valley Parking lots due to receiving less than the required three bids for Bid # 2026-04 (Park Lot Instantiation), in accordance with Ordinance #200-001 (rev 1) “An Ordinance for Purchasing”.
- MOTION to grant a bid waiver to CorrTech Inc., in the amount of up-to $7,500 for the inspection of the underground Holmberg Surge Tank.
- MOTION to approve Standing Bid waivers as follows: ü Vendors included in the Town of Ledyard Standing Bid Waiver List for FY 26/27, ü Capital Region Purchasing Council Bids, ü State of Connecticut bids, ü Other states' bids, purchasing cooperatives (i.e. Sourcewell) , and federal government bids.
- **ADD ON**
- MOTION to grant a Bid Waver to American Ground and Snow Management of Mystic, Connecticut, to install the Lantern Hill Valley Parking lots due to receiving less than the required three bids for Bid # 2026-04 (Park Lot Installation), in accordance with Ordinance #200-001 (rev 1) “An Ordinance for Purchasing”.
- Discussion to develop a Plan/Options/Strategy to minimize the increase to the Fiscal Year 2027/2028 Mill Rate, considering a number of variables/uncertainties such as the following: · The State does not provide the additional funding that was received for the Fiscal Year 2026/2027 Budget; · Reduction in other revenues such as Motor Vehicle, etc.
- Any New Business proper to come before the Committee
- ADJOURNMENT
- DISCLAIMER: Although we try to be timely and accurate these are not official records of the Town.
- WORKING DRAFT
- Agenda Item
Recent documents
Fresh records from this municipality.
Civic leadership
Know who to contact about the decisions that matter.