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Minutes

FINANCE COMMITTEE MEETING

January 8, 2018

6:30 p.m.

 

Committee Members Present:  Jason Bersani, Chair; Edward Hastings, Kati McCormick 

Board Members Present:  Tom Connors, Staci Fortunato, Pia Holmes

Administrators Present:  James Anastasio, Kathy Casparius, Donna Madore

Others Present:  Jon Stonier

 

1.  Appoint chairperson

 

Motion by Kati McCormick to nominate Jason Bersani as chair.  Second by Edward Hastings, so moved 3-0.

 

2.  Server room air conditioning – update

 

Jon Stonier, Director of Buildings and Grounds said the engineer who was hired to put together a detailed plan for the proposed server room air conditioning.  It will be put out for a full RFP proposal and all bids are due January 26 at 2 p.m.  The cost will be approximately $65,000-$70,000.  The successful bidder will remove all old equipment and install the new equipment.  The server room handles school and city.  He said he hopes the project will be done in April.  With a maintenance schedule, the life expectancy should be 10 years or more.  Jason Bersani asked for a copy of the proposal.

 

3.  Preview business manager’s report

 

Board Chair Ed Hastings asked for clarification concerning encumbrances. Kathy Casparius, Business Manager, explained that there are two types of encumbrances – those that are from last fiscal year’s budget and those that are expenses from our current budget. She said at the end of the school year, we frequently have work that is started during the fiscal year but not completed by year’s end. In each line where purchase orders remain open when the books are closed, the auditors transfer the remaining balance of the purchase order to the current fiscal year budget. As the work is completed, the expenses are included in our current year to date balances. In order to more accurately reflect our monthly reports, the business manager will add a column to the expense report each month that shows the original fiscal year budget and the revised budget which includes the encumbrances. Likewise, the revenue portion of the report will include a line for Assigned Fund Balances that are the held over encumbrances.

 

4.  Augusta School Department Emergency Plan

                        Attachment 1

 

The committee reviewed and discussed the updated Augusta School Department Emergency Plan.  The plan needs to be approved by the board on a yearly basis.

 

Meeting adjourned at 7:12 p.m.