TTD Presented District and Financial Update, 2016-2017 Budget Approved
Norwalk, CT – (March 4, 2016): The Annual Meeting of the electors of the Third Taxing District (“TTD”) was held Wednesday night at The Marvin Community Room in East Norwalk. TTD Commission Chairman, Charlie Yost, kicked-off the meeting with the Pledge of Allegiance and a moment of silence, followed by introductions, reading and acceptance of the meeting notice and the election of a Meeting Chairman.
The elected Meeting Chairman, Liz Lyons, continued with the election of the Meeting Secretary, Dr. Michael Intrieri. Dr. Michael Intrieri, TTD Treasurer, presented the District Year in Review including the grants applied for and given out in 2015 by the District. The reading of the Report of the District Chairman was waived by majority vote of the electors in attendance.
Commissioner Debora Goldstein delivered an industry and legislative update, followed by Q&A. Ms. Goldstein pointed out that while Connecticut’s retail power rates are 48% higher than the National average, TTD’s membership in CMEEC (Connecticut Municipal Electric Energy Cooperative) provides an advantage that is helping to keep costs down. With a number of Federal and State initiatives to provide “clean” power, TTD relies on the purchasing strategy of CMEEC and continues to look for opportunities for cleaner and cheaper electricity, like the Regional Solar Gardens.
TTD General Manager, Jim Smith presented the report of the Operation of the Electric Department for the fiscal year July 1, 2014 through June 30, 2015, which included infrastructure investments, enhanced communications, the LED streetlight program, radio read meters, GIS Mapping, SCADA, and TTD office upgrades. Mr. Smith added that the cost of purchased power represents 60-65% of the total expenses of the District budget, which highlights the importance of CMEEC in keeping costs as low as possible for East Norwalk residents and businesses.
“TTD has not raised their rates in 30 years and we don’t anticipate any increase in the foreseeable future barring any unknown circumstances,” expressed Smith.
Commissioner David Brown reviewed the proposed 2016-2017 District Budget for review and approval by the electors of the Third Taxing District, which includes budgets for the East Norwalk Association Library, East Norwalk Fire Department and East Norwalk Historic Cemetery.
Prior to voting, a motion was made from the floor to remove a line item ($8,000) from the ENAL budget slated for a Master Plan Implementation Plan for the library to use, which was voted on and passed. Commission Chairman Yost explained that the ENA had declined the commission’s offer to additionally fund the implementation plan to support the potential improvements for the library. Ms. Mann stated in her letter that those monies were an incorrect use of funds. Mr. Yost stated that the commission recommended the funds be eliminated from the District Budget.
Immediately following, a motion to approve the fund transfer from the Electric Department was voted on and approved at which time the meeting was adjourned.
The next TTD Commission Meeting is scheduled for Monday, March 14th at 7:00pm.
TTD operates a municipal, ratepayer-owned Electric Department that provides high service, reliable, low-cost electricity to East Norwalk residents and businesses. The company also supports the local community with concerts and holiday events, as well as supporting the East Norwalk Association Library and Norwalk Fire Department Firehouse, and maintaining the East Norwalk Historical Cemetery. The Third Taxing District is governed by a Board of three Commissioners and a Treasurer.