Monadnock Regional School District

School Board Finance Committee

Meeting Minutes

February 20, 2007

Mt. Caesar Elementary School Multi-Purpose Room

APPROVED

Committee Members Present:

Sue Oerman, Vice Chairman

Jerry Mazza

Gene White

Other School Board Members Present:

Doug Lyman

Jon Kenyon (arrived at 6:30 p.m.)

Budget Committee Members Present:

Dick Bauries

Administrators Present:

Katie Chambers, Business Manager

Cheryl Kahn, Teacher, Teachers’ Union Representative

Call to Order: Vice Chairperson Sue Oerman called the meeting to order at 6:08 p.m.

Approval of Minutes: J. Mazza moved acceptance of the minutes of January 2, 2007. G. White seconded the motion. The motion was voted in the affirmative. J. Mazza moved acceptance of the minutes of January 16, 2007. G. White seconded the motion. The motion was voted in the affirmative. J. Mazza noted that the MRPSOC grant would not continue but that another grant from another source might become available. It was noted that Superintendent Dassau had been the scribe for the February 6^th minutes and that they will be provided at a future meeting.

Revenue, Expenditure, Status of Assets and Grant Reports: K. Chambers distributed Revenue, Expenditure, Status of Assets as of this date. K. Chambers noted that the over-expenditures that are evident in the reports are largely due to over expenditures of in-district special education accounts, which at this point are being offset by under-expenditures in out-of-district special education accounts. She noted that the $229,000 in health insurance savings is still intact and that approximately $35,000 had been saved in the workers’ compensation insurance account by taking advantage of a one-time opportunity to move the premium due-date up to July first. Follow-up was provided on the following:

• Interest on student activity accounts
• K. Chambers reported on what happens to the money from “old” classes activity accounts at the high school. According to Max Houle, Administrative Assistant to the High School Princial, who manages the high school activity funds, the “old” class money goes into an account called “inactive”. There are records of the class balances from 1963 to the present. The alumni use the money for reunions, death of classmates, etc.
• K. Chambers also reported on what the “CMH Scholarship” activity fund at the high school is. It is the Charles Hanrahan Scholarship in memory of him. He was president of Kingsbury Tool for many years and his widow set the scholarship up with teacher Phil Crotto for four students to receive $10,000 each over a four year period. Max was told by Phil that Peg Hanrahan, Charles’ widow, made the request that the funds never be placed anywhere except the internal accounts at the High School.

For the next meeting, K. Chambers was asked to provide a Food Service financial report. She was also asked to provide information on what happened to the $75,000 warrant article that was proposed in 2006 to fund the 2005 Expendable Trust Fund for architectural, engineering and construction. Last, staff development and travel detail was requested with respect to the MRPSOC grant.

Legal Bills: A report of the most recent expenditures on legal bills was distributed and reviewed.

Next Meeting: Tuesday, March 6, 2007, at 6:00 p.m. at the Monadnock Regional Middle/High School.

Adjournment: The meeting was adjourned at 6:55 p.m. upon approval of a motion by J. Mazza, second by G. White.