New Canaan Finance Board Approves Charter Panel Funding Transfer
Board of Finance · Meeting of January 20, 2026
New Canaan Board of Finance opens 2026 with a clean audit and a $31,049.70 transfer. Members unanimously seated alternate Alan Bedain for absent Victor Alvarez and approved December 9 minutes before hearing from Audit Committee Chairman Robin Frier, who reported no control weaknesses and an on-time filing, one of just 47 Connecticut towns to hit the deadline in 2023, versus 69 in 2024 and 79 in 2025. The town's combined fund balance rose $14 million, and its financial report won its ninth straight GFOA excellence award.
The board also approved shifting $31,049.70 from contingency to fund the charter revision commission. New Canaan's first selectman flagged a roughly $26 million townwide capital wish list, a nearly $1.1 million federal earmark advancing for a wastewater UV treatment upgrade, and new Verizon small-cell sites planned across the west side of town. Frier, wrapping up six years on the audit committee, said, "it's probably the last time that I will speak to you."
In the full story:
- The complete report — 973 words
Source: the Board of Finance meeting of January 20, 2026, reported from the official video recording and transcript.
The Full Article
NEW CANAAN — January 20, 2026 — The New Canaan Board of Finance opened its 2026 meeting calendar Tuesday with a light agenda, seating an alternate member for an absent colleague, accepting a clean annual audit with no reported control weaknesses, and approving a $31,049.70 transfer to fund the town's charter revision commission.
The board also heard financial and capital-planning updates that pointed to a busy February, including a roughly $26 million townwide capital wish list, a 2.3 percent year-over-year rise in proposed town operating spending and word that a long-sought federal earmark for a wastewater treatment upgrade has cleared both houses of Congress.
The Full Story
Board members voted unanimously to seat alternate Alan Bedain in place of Victor Alvarez, who did not attend, ending what board members described as a long streak of perfect attendance. The board also unanimously approved the minutes of its December 9 meeting.
Robin Frier, chairman of the town's audit committee, presented the annual audit report on behalf of the committee, telling the board the town's comprehensive annual financial report was filed on time with no management letter and no control weaknesses identified by the outside auditor. Frier said this was likely his last appearance before the board as chairman; he completed a second three-year term on the audit committee on December 1 and said he decided not to seek a third term. New Canaan's finance director walked the board through the underlying numbers, saying the town's combined fund balance rose $14 million, driven largely by an $8 million swing tied to the timing of a $35 million bond issue, along with a $1.8 million increase in the internal service fund and a $4 million increase in the general fund. The finance director also credited staff, including Diane Wilson, for the smooth filing process, noting New Canaan was one of only 47 Connecticut towns to file its audit on time in 2023, one of 69 in 2024 and one of 79 in 2025, out of roughly 170 municipalities and school districts statewide. The town's report has been recognized for the ninth consecutive year by the Government Finance Officers Association for excellence in financial reporting and for the seventh consecutive year for its budget presentation.
The board also discussed a new Governmental Accounting Standards Board rule, Statement 103, that will change how the town presents its financial statements beginning with the fiscal year ending June 2026, shifting more detail into footnotes rather than the front-end narrative. The finance director said the change amounts to a reformatting rather than new accounting requirements. Members also asked about a prior-year accounting catch-up for compensated absences, which the finance director said now totals about $12 million as an accounting liability with no effect on the operating budget.
The board unanimously approved taking $31,049.70 from contingency to fund the charter revision commission's advertising, legal notice publication and clerical costs for the current fiscal year, creating a dedicated project code to track the spending.
New Canaan's first selectman gave a townwide budget update, saying department-by-department budget reviews are underway with the Board of Selectmen, with a proposed 2.3 percent increase in town operations spending and a 3.4 percent projected increase in the overall general fund budget once the Board of Education's proposed budget, up 3.9 percent in expenses, is factored in. Total requested capital spending across the town, Board of Education and sewer fund stands at roughly $26 million, though board members cautioned the figure will likely shrink before final approval. The Board of Selectmen expects to finish its budget votes January 29.
The first selectman also reported that the Regional Water Authority has appealed to Superior Court after the town won a ruling before the Public Utilities Regulatory Authority opposing RWA's acquisition of Aquarion Water Company assets; a Superior Court judge has since ruled against the town on several points, though one issue is being appealed back to PURA. Separately, the first selectman said a nearly $1.1 million federal earmark for a UV treatment system upgrade at the town's wastewater treatment facility has been approved by both chambers of Congress and awaits final sign-off, and that Verizon has notified the town of seven or eight new small-cell wireless sites planned on utility poles, mostly on the west side of town, that do not require town approval. The first selectman also cited heavy overtime costs from a recent two-day snowstorm affecting the Department of Public Works, police and parks staff.
"So it's probably the last time that I will speak to you." [HH:MM:SS] — Robin Frier, chairman, New Canaan Audit Committee
"We do the accounting in three different methods in that book." [HH:MM:SS] — New Canaan Finance Director
Why It Matters
The audit committee's clean report and improved fund balance give the town a stronger financial footing heading into a February budget season that board members said will be far busier than Tuesday's session. With a roughly $26 million capital wish list already on the table, including aging fire apparatus flagged for replacement, and a Board of Education budget vote pending the same night, the Board of Finance signaled it wants another year of spending discipline after trimming several million dollars from last year's capital requests. Residents should also watch for new Verizon small-cell installations on utility poles, particularly on the west side of town, which require no town approval, and for a request to draw on the town's contingency fund to cover snowstorm-related overtime.
Key Motions & Votes
- Vote: Seat alternate Alan Bedain to replace absent member Victor Alvarez Tally: Approved unanimously - Vote: Approve December 9 meeting minutes Tally: Approved unanimously - Vote: Transfer $31,049.70 from contingency to fund the charter revision commission's fiscal year 2026 budget Tally: Approved unanimously
Source
Town Of New Canaan: Board of Finance meeting, January 20, 2026