FINANCE COMMITTEE MINUTES

DATE OF MEETING:  August 6, 2007 at 5:00 PM Superintendent’s Conference Room

MEMBERS PRESENT Sue Campbell, Sue Dowling, Derek Grant

OTHER BOARD MEMBERS: Dick Barnes, Jane Dennison

OTHERS PRESENT: Superintendent Connie Brown, Sheryl Phelps & Jim Giroux of First Students, Richard Lachance & Kelly Wathen of Maine Education Credit Union, Keith Edwards of Kennebec Journal, School Nutrition Director Barbara Raymond, and Business Administrator James Jurdak      

 

AGENDA ITEMS DISCUSSED:

 

  1. Financial institution at CATC.  Committee updated on status of financial institution at CATC.  James neglected to determine zoning prior to soliciting proposals from area financial institutions.  After the award to Me Ed Credit Union, it was learned that the residential zone around CATC does not allow for businesses open to the public.  It was the recommendation of Administration that a variance not be sought as the future impact on the City would result in complications and confusion.  Committee supported recommendation.
  2. Student transportation proposed AM & PM route changes.  First Student representatives presented Committee with recommendations to begin the process of improving routes.  Commencing in the 2008-09 school year, the EPS funding formula for transportation will be reduced by 5%.  The EPS funding formula provides subsidy for regular bus route costs.  These costs included morning to school and afternoon to home routes only.  Committee requested that First Students work with Administration to determine miles and dollars saved.  During the coming year First Students and Administration will continue to work on improvements and changes and will bring recommendations to the committee.  Currently the School Department is working with a walkers and riders policy (EEAA) that was last amended in August 1980.  Committee will review mid year.  Add to a future agenda.
  3. Food bid analysis.  Barbara Raymond presented the bid analysis.  This was the most competitive bid we’ve received in several years.  Current vendor Sisco was under bid by PFG North Center Foods.  Item will be placed on this Wednesday’s Board agenda for a vote.  If voted, commencing this school year PFG will provide product and services.  The award is for one year with two one year renewal options.  In the past, the School Dept has exercised the two one year options.  During this school year Barbara will monitor PFG and provide a recommendation to the Business Manager as to renewal option.
  4. Financial statements through year ended June 30, 2007.  James reviewed the twelve month statements.  Revenues are under budget by $140,000 and expenditures are under budget by $600,000.  Estimated carry forward is $500,000.
  5. Auditors meeting.  Connie and James held a pre audit meting with RKO earlier this week.  Audit commences mid September.
  6. Next meeting – Monday September 10, 2007 at 6:00 PM – Superintendent’s Conference room - Hussey Elementary School.

 

      Meeting adjourned 6:45 PM