School Board Finance Committee Meeting Minutes
November 20, 2007
Monadnock Reg. MS/HS School
Approved
Committee members present: Gene White, Phyllis Peterson, and Sue Oerman, Tim Aho, James Carnie, Jane Fortson. Administrators Present: Katie Chambers, Business Manager and Dr. Kenneth Dassau, Superintendent.
The meeting was called to order at 6:00 pm.
1. Approval of Minutes: Motion to approve the November 6th minutes by S. Oerman, seconded by P. Peterson. Discussion: none. Motion passes with 1 abstention (T. Aho).
6:04 J. Fortson arrives.
2. Old Business: a. Debt Financing: The
facilities committee has asked the finance committee to determine how the
financing for 37.5 million should be done over a 3 year period. E.g. 10 million, 10 million, 15 million and
what type of financing should be done.
b. MRPSOC Extension – K. Chambers explained that the funds remaining in
the MRPSOC grant would be covering transportation. K. Chambers stated that the program would be
“closing up shop” by the end of December, and will be doing the billings
through the end of the year. T. Aho
asked what percentage of the $675,000 we (Monadnock) get? K. Chambers stated the transportation bills
amount to about $44,000, so the amount would be the tuitions of about $105,000
plus the $44,000.
New business:
3a. Warrant Article Review:
i.
J. Fortson made
the motion to set up a new capital Reserve fund for building programs. Seconded by
T. Aho. S. Oerman asked why not add for
renovations as well, and made the amendment. Seconded by
P. Peterson. Vote on the amendment. 3 yes (S. Oerman, P. Peterson and G. White),
and 3 abstentions (T. Aho, J. Fortson, and J. Carnie). Amendment passes. Vote on
motion as amended: All in favor, motion
passes.
ii.
J. Fortson made
the motion to raise from taxes the amount of $500,000 to fund the above
mentioned capital reserve fund. No
Second. G. White stated it was too early
to ask until we know how much more money was needed in the other warrant
articles, and made the motion to table the discussion until the second
meeting in December. Seconded by
iii.
J. Fortson made
the motion to put the funds generated from the repurchase of the
iv.
J. Fortson made
the motion for surplus at the end of the year up to $2,000,000 be put into the
above mentioned capital reserve fund.
Seconded by G. White.
Discussion: T. Aho stated this
should go to reduce taxes. Motion
Fails: 2 Yes (G. White, J. Fortson) 3 No
(P. Peterson, T. Aho, and J. Carnie) and 1 abstention (S. Oerman).
v.
Discussion took
place regarding clearing out the current capital reserve fund into the
above-mentioned fund, but it was decided that this would be better once all
appropriated funds had been paid out of it so as to determine how much
remained.
vi.
K. Chambers
handed out the Support staff contract negotiations mediation agreement of Sept.
2007 and explained the numbers.
vii.
K. Chambers
handed out the Final Teachers Collective Bargaining Agreement – Agreed at
Mediation 11-2-07.
b. Use of 07/08 Health Insurance Savings: K. Cambers
handed out the items that were reviewed and determined could be covered using
the health care savings this year instead of putting them into next year’s
budget. It was decided that discussion
should wait until presented to the full board due to the lack of time remaining
and the fact that the finance only got the information at this time, and no one
has had time to look it over. K.
Chambers did explain the history of the Facilities director position and the
need to have one as well as the rationale to retain the Belliveaus to oversee
the ongoing projects until a New Director could be brought up to speed. K. Chambers explained that she would
recommend still having about $250,000 from the health insurance savings not
earmarked in case something unforeseen arises.
c. SAU Withdrawals- Who pays for long-term liabilities or
original district-should state legislation be proposed? K. Dassau read the article that
had appeared in the Keene Sentinel earlier in the afternoon regarding Surry’s
withdrawal, as most members had not read it.
No questions could be answered at this time, as the Board has not heard
from the Town of
D. Lyman arrives at 6:50
pm
3e. Financial Reports: (handouts) None handed out at this time.
3f. Legal Bills: None.
4. Public Comments: None.
5. Next Meeting: Tuesday, December 4th, 2007, at 6:00 pm at
the
6. Adjournment: S. Oerman made the motion to adjourn at 7:00pm, seconded by P. Peterson. Unanimous for all present.
Respectfully submitted
Jane Fortson