Monadnock Regional School District

School Board Finance Committee

Meeting Minutes

September 5, 2006

Monadnock Regional High School Conference Room

Committee Members Present:

Bruce Tatro, Chairman

James Carnie, Vice Chairman

Phyllis Peterson

Gene White

Other School Board Members Present:

Jonathan Kenyon

Budget Committee Members Present:

Richard Bauries

Administrators Present:

Ken Dassau, Superintendent of Schools

Katie Chambers, Business Manager

Karen Craig, Principal, Emerson Elementary School

Call to Order: Chairman B. Tatro called the meeting to order at 6:00 p.m.

Approval of Minutes: G. White moved and J. Carnie seconded approval of the amended minutes of August 15, 2006. The motion passed.

Revenue, Expenditure and Status of Assets Reports: K. Chambers distributed Revenue, Expenditure and Status of Asset Reports for FY 06/07 as of this date. It was noted that the warrant article appropriations are now all reflected in the general fund expense report.

In answer to a question as to why the Surry school and the MC2 budgets were not combined, K. Chambers explained that funds were in 06/07 budget for the continued maintenance of the Surry school which would be required even though there were no plans to use the school. Since the School Board has recently decided to move MC2 to Surry, the two budgets could now be combined should the School Board decided to do so.

D. Bauries asked whether any over expenditures were anticipated at this point. K. Chambers and K. Dassau responded, no, to the contrary, as of this date there is anticipated a savings in health insurance of approximately $230,000; a savings of approximately $300,000 in special education; and an additional cost in special education tutor accounts of about $75,000 (wages only). There was a discussion of whether or not the health savings will be returned to taxpayers.

05/06 Over Expenditure: K. Chambers, K. Dassau and K. Craig explained the over expenditures at the building levels in 05/06. Primarily, the over expenditures can be attributed to emergency maintenance and repair items (boilers, flooding, etc.), utilities, and special education. This discussion led to a discussion of the recently approved retirement policy.

Line of Credit – K. Chambers reported that the district does not have a line of credit. In fact, it did not have one previously, but had borrowed funds two years ago when there were cash-flow issues. Currently, the cash flow is adequate, thanks to the town and district treasurers working cooperatively to maintain adequate balances in the school accounts to cover the district’s bills.

MC2/MRPSOC Budget for 06/07 – J. Carnie asked if the budget for the MRPSOC grant for 10/1/06-9/30/07 is yet available. K. Dassau stated that he had spoken with D. Gurian and was informed that it was in process and that it would be ready soon. K. Dassau has requested a presentation of the budget, once complete, to him and K. Chambers.

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