FINANCE COMMITTEE MINUTES

DATE OF MEETING: Mar. 1^st 2007 at 6:00 PM Superintendent’s Conference Room

MEMBERS PRESENT Sue Dowling, Sue Campbell, Bill Burney,

OTHER BOARD MEMBERS: Kim Silsby

OTHERS PRESENT: Jim Anastasio Principal and Jim Holland AP Cony, Superintendent Connie Brown, Business Manager James Jurdak

AGENDA ITEMS DISCUSSED:

1. Proposed Budget - >General Fund<

for the year - July 1^st 2007 through June 30^th 2008 (FY08):

1. MEA BENEFIT TRUST: Change in of Health Insurance – Received notice that employer cost projected to increase by 8.66% for Anthem coverage.

i. FY08 estimated increase at 15%. Using the revised increase at ~9% - proposed budget expenditures reduced ~$140,000.

2. REVENUES: Administration monitoring current year (FY07) actual revenues – comparing to projected budget.

i. Upon receipt of our ED281, all significant revenue, and expenditure (line) these projections will be reviewed and reported upon.

3. ATHLETIC BUDGET – HIGH SCHOOL: Committee reviewed prior year’s expenditures and budgets. Funding for FY08 discussed. Questions concerning differences between supporting documents distributed at tonight’s meeting. Committee brainstormed how to set FY08 funding level.

2. Subsidy statements. Update by Connie, Kim, and James on some of the daily activity at the Education and Cultural Affairs Committee. A exceptionally challenging charge from the Appropriations Committee that the Ed Committee bring back a recommendation that improves non-instructional services, improves governance, is efficient and costs less. Any recommendation Ed presents to Appropriations must be revenue neutral.

3. Other: Financial statements for Feb 28, 2006 at

http://www.augustaschools.org/schboard/schoolboardopen.htm

4. Next meeting – To be determined.

Meeting adjourned 7:45 PM