Displaying items by tag: Ballston Spa National Bank

BALLSTON SPA — Timothy E. Blow, executive vice president and chief financial officer at Ballston Spa National Bank (BSNB), has announced his retirement effective Dec. 31, 2021. 

Since joining BSNB in 2005, his responsibilities include strategic financial planning and oversight of the finance, IT, operations, compliance, and facilities functions. Blow’s leadership at BSNB caps a 33-year career in the Capital Region working in audit, advisory and corporate banking roles. 

“Tim’s contributions have been instrumental in helping BSNB achieve high levels of fiscal and operational effectiveness, the development of a sophisticated technology infrastructure, market expansion, and record financial performance. Of particular note was Tim’s leadership in the development of the company’s new corporate headquarters building in 2011,” said Christopher R. Dowd, president and chief executive officer at BSNB, in a statement. 

As part of the planned transition, James F. Dodd will be promoted to senior vice president and chief financial officer effective July 1, 2021. 

Ballston Spa National Bank announced Tuesday that support of $36,000 has been awarded to local Capital Region organizations, including more than $10,000 in donations from the Bank and its customers to the Regional Food Bank of Northeastern New York.

“Today’s donations are estimated to provide more than 40,000 meals to those in need. This would not have been possible without the generosity of our customers,” said Christopher R. Dowd, president and CEO. “We’re also incredibly proud of the BSNB staff members that rallied their communities to address the need.”

The remaining $26,000 in Bank donations is provided to 31 additional organizations, including but not limited to, those that provide support for addiction recovery, veterans and active-duty soldiers, children and youth programs, and programs addressing poverty, hunger and homelessness.

SARATOGA SPRINGS – At the Saratoga Springs City Council meeting on Tuesday, October 20, the council unanimously approved a 5-year contract with the Police Benevolent Association (PBA). The contract is for 5 years, retroactive to 2013. 

The PBA agreement calls for an 11.5 percent pay increase over the 5-year term: a 3 percent increase for 2013 (effective mid-year); 2.5 percent for 2014; and 2 percent for each of the years 2015-17. The PBA contract will save about $92,000 by the elimination of one (the most expensive) health insurance option, and save about $25,000 by increasing the annual individual contribution level from $1,000 to $1,500. 

Commissioner of Finance Michele Madigan stated that she had prepared for a contract settlement by setting up reserve accounts that would cover the required retroactive pay, and that the necessary adjustments for the coming year’s budget (estimated at $490-580,000) would be able to be made without impacting the stable tax rate she had proposed in the 2016 Comprehensive Budget message on October 6. There might be some impact on some expense lines as a result, though Madigan regarded these as minimal. 

Mayor Joanne Yepsen noted that this was the fifth of seven open contracts that had been settled since she took office. Currently, the fire chiefs’ and firefighters’ contracts remain to be settled. 

In other Council News:

• Mayor Yepsen appointed Tamara Tepper and re-appointed Andrew Jarosh to the Community Development Citizen Advisory Committee.
• A 50^th Anniversary of the Vietnam War Commemoration Event was approved. It will be at the Saratoga Springs City Center on Saturday, November 21.
• Appointments by each Council member to a High Rock parking lot technical review committee were requested by Wednesday, October 21 - with a goal to have each respondent to the RFP appear before the Council on November 9-10.
• A second public hearing on the 2016 Budget was set for Monday, November 2 at 6:50 p.m. before the next City Council meeting. This public hearing will remain open until a budget is passed. 
• Commissioner Madigan delivered a third-quarter financial report. Details are on the city’s website: saratoga-springs.org 
• Commissioner of Public Safety Chris Mathiesen reported that an RFP went out for firms to examine and make recommendations to improve pedestrian safety at city intersections. Responses are due by November 12. 

SARATOGA SPRINGS — Every year the Saratoga Springs Police Lieutenant’s PBA awards a $500 scholarship to a graduating high school senior from the Saratoga Springs area that plans to major in criminal justice in college.