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Minutes

FINANCE COMMITTEE MEETING

June 5, 2017

6:30 p.m.

 Committee Members Present:  Edward Hastings, Chair; Members; April Cusick, Kati McCormick  

Board Members Present:  Tom Connors, Staci Fortunato, Kimberly Martin, Deborah Towle 

Administrators Present:  James Anastasio, Kathy Casparius, Donna Madore

The Chair called the meeting to order at 7:18 p.m.

1.  Cost of health insurance, retirees and active employees
2.  Cost of retirement
3.  Summation/discussion of continuing education costs
4.  Other 

Kathy Casparius, Business Manager went over the costs of health and dental insurance for employees and retirees which totals $4,254,857.88.  She said the cost of wages and insurance is 59% of the total school budget. 

The yearly cost of retirement contributions for employees is $673,351.47.  

The continuing education costs for 2017 is $91,940.28.  However, our contractual commitment for 2017 is $1,428,306. 

The meeting adjourned at 7:34 p.m.