Monadnock Regional School District

School Board Finance Committee

Meeting Minutes

March 20, 2007

Middle/High School Conference Room

APPROVED

Committee Members Present:

James Carnie, Chairman

Sue Oerman, Vice Chairman

Gene White

Other School Board Members Present:

Doug Lyman

Budget Committee Members Present:

none

Administrators Present:

Katie Chambers, Business Manager

Ken Dassau, Superintendent (6:45 p.m.)

Public Present:

Dixie Gurian

Richard Bauries

Eric Stanley (6:35 p.m.)

Call to Order: Chairman J. Carnie called the meeting to order at 6:04 p.m.

Approval of Minutes: S. Oerman made a motion to approve the minutes of February 6, 2007. G. White seconded. Voted in the affirmative (1 abstention – S. Oerman). S. Oerman made a motion to approve the minutes of February 20, 2007. G. White seconded. Voted in the affirmative (1 abstention – J. Carnie). S. Oerman made a motion to approve the minutes of March 6, 2007. G. White seconded. Voted in the affirmative (1 abstention – G. White).

Revenue, Expenditure, and Status of Assets Reports: K. Chambers distributed Revenue, Expenditure, Status of Assets as of this date and provided an overview. She noted that she had checked on the totaling of the Status of Assets Report at the last meeting and found that the spreadsheet had been modified and the formula for the total not corrected. It has been addressed and the report presented this evening reflects that correction. K. Chambers suggested and the Committee members agreed that the financial reports be presented in the following fashion going forward to establish a logical routine:

• First meeting of the month –reports for the General Fund, Capital Projects Fund and Food Service will be presented reflective of activity through the end of the previous month. A status of assets report will also be presented.
• Second meeting of the month – reports for the Federal and State Grant Fund and the Private Grants and Donations Fund will be presented along with the 5-year report for the MRPSOC Grant. These reports will reflect activity through the end of the previous month.

K. Chambers gave an overview of the costs incurred for the recent election: payroll expenses were more than anticipated, but rental, supply and training expenses were less than anticipated, the net result of which is that we are still within budget with enough remaining to pay the final expenses (mileage and incidental expense reimbursements).

Legal Bills: A report of the most recently paid legal bills was distributed and reviewed.

MRPSOC Five Year History: D. Gurian’s distributed and update of the report she had provided at the last meeting which included more detail on the MC2 component. The report was reviewed and discussed in detail. R. Bauries asked if the total cost of the MC2 program was the amount reflected in the Dixie’s report plus the amount reflected in the District’s reports, approximately $1,000,000 total in 2005/2006. D. Gurian and K. Chambers answered yes.

Next Meeting: Tuesday, April 3, 2007, at 6:00 p.m. at the Troy Elementary School.

Adjournment: The meeting was adjourned at 7:00 p.m. upon approval of a motion by S. Oerman and second by G. White.