Monadnock Regional School District

School Board Finance Committee Meeting Minutes

January 2, 2008

Monadnock Regional HS/MS

Non-Approved

Committee members present: Jim Carnie, Doug Lyman, Jane Fortson, Gene White, Tim Aho and Phyllis Peterson. Administrators Present: Katie Chambers, Business Manager, Dr. Kenneth Dassau, Superintendent, and Karen Craig, Principal, Emerson school.

The meeting was called to order at 6:07 pm.

1. Approval of Minutes: Motion to approve the December 18th minutes by D. Lyman, seconded by G. White. Motion passes: 4 yes and 1 abstention (T. Aho) P. Peterson not present for vote.

Dr. Dassau arrives at 6:10pm.

P. Peterson arrives at 6:14pm.

2. Old Business: a. Debt Financing: Facilities Committee request: Pending the special school board meeting. D. Lyman stated that $5,000,000 was the least we could bond and/or put forth and receive reimbursement from the state, and that we needed some direction as to how much to bond, as he didn’t think the voters would vote positively for a bond every year for a period of years. K. Chambers stated that the Capital Appreciation Bond was the type of financing generally used by schools. P. Peterson stated that we needed to know what the building violations are and how they will be impacted by the proposed building renovations so that we have a defense for the amount that the board brings forth.

b. Warrant Articles review –

i. Evaluation of Overall Increase: K. Chambers explained that the SAU warrant article would be two instead of 1. K. Chambers handed out a worksheet titled MRSD Estimated Effect of Budget Increase on Tax Rates. This worksheet was based on the effect the board warrant proposals as of 12/18/07, K Chambers noted there were many variables that went into estimating this number and that is was very preliminary and were estimates only. She asked whether the finance committee wanted to take any action based upon this information. No action was taken.

c. SAU Withdrawals – Who pays for long-term liabilities of original district-should state legislation be proposed. The administration has not had time to proceed with putting together a separation package for the Surry withdrawal.

New business:

3a. Financial reports – Reports handed out, no questions regarding the information presented and nothing of particular note that K. Chambers felt needed to be brought to the committee’s attention.

3b. Legal Bills – No new legal bills.

4. Public Comments: None.

5. Next Meeting: January 15^th, at the Monadnock Regional MS/HS in Swanzey at 6:00 pm.

6. Adjourn: Motion to adjourn by P. Peterson, at 6:47pm, seconded by D. Lyman. Motion passes: Unanimous for all present.