St. Denis to return 401k contribution

Former Longboat Key Town Manager Bruce St. Denis will return $10,365.79 paid by the town, according to a Nov. 22 memo sent by Finance Director Tom Kelley to Town Manager David Bullock.

The memo states that St. Denis contributed funds to his 401k that were matched at 50% by the town.

“This payment was precluded by the severance agreement,” it states.

“After discussion between Town Staff and Bruce St. Denis, it has been agreed to return to the town the $10,365.79 match that was paid by the Town to his ICMA Salary Savings Account.”

The transfer came up at a Nov. 17 commission regular workshop after Commissioner Lynn Larson asked about a line item explained as “Part of TM Severance not figured into transfer Ordinance” during a discussion of a resolution to amend the 2010-11 fiscal year budget by transferring a total of $349,276 in available unencumbered funds in various general fund line item accounts to general-fund line item accounts where expenditures exceeded the adopted budget. The payout was not included in the $268,364.81 severance package approved by the town when St. Denis resigned in September.

The commission will discuss a resolution to reverse the transfer to reflect the return of the town contribution at its Dec. 5 regular meeting.

For more information, pick up a Dec. 8 copy of the Longboat Observer.

Contact Robin Hartill at [email protected].