FINANCE COMMITTEE MINUTES

DATE OF MEETING: August 4, 2008 at 6:00 Superintendent’s Conference Room

MEMBERS PRESENT Sue Campbell and Bill Burney

OTHER BOARD MEMBERS: Dick Barnes

OTHERS PRESENT: Superintendent Connie Brown and Business Manager James Jurdak

AGENDA ITEMS DISCUSSED:

1. Financial Statements for year ended June 30, 2008 – James presented unaudited revenue and expenditure summaries for the year ended. Amount estimated to be added back to fund balance approximately $900,000. This will cover the amount used to fund fiscal year 2009 budget. Once audit is completed later this year figures will be finalized and presented to the Committee. There was some discussion about increasing the contingency account each year during budget time. Currently the account was budgeted at $95,000 and at the July Board meeting almost half was transferred out to cover a needed teaching position. With a budget in excess of $28,000,000 contingency should be increased.

2. Preview of account lines to be watched during the coming year. Connie reviewed with the Committee electricity, fuel oil, out of district tuition, and CATC renovation project lines. These lines must be monitored to ensure the school department does not encounter problems. Currently oil is contracted with the same provider as last year, but electricity costs are being increased as the provider encounters added cost to provide service. Currently these charges amount to less than $1,000 per month which can be managed. There may be additional students requiring out of district special education services. We will know more when school starts. The CATC renovation project has not yet begun, bid are being evaluated.

3. School nutrition bid results – results were shared with the Committee for bread, milk, and beverages. Recommendations from the School Nutrition Director were supported. Bids will be awarded commencing with the new school year.

4. Menu selections at Hodgkins Middle School – Ala carte selections were discussed. James updated Committee that Barbara has begun discussions with Hodgkins’ kitchen manager and there will be changes made in these selections. Also ala carte menu and prices will be provided with middle school menu and on food services’ web site. Committee asked for an update at either the September or October meeting. Committee also requested that Barbara have posters and other informative items throughout the middle school.

Meeting adjourned 7:20 PM

Next meeting Sept. 8, 2008