M.S.A.D. No. 75 Finance Committee Members Present: Roland Tufts – Chair, Rebekah Stimpson, Joanne Rogers, Dee Carrier Roland Tufts opened the meeting at 6:00 PM Mike Wilhelm led a general discussion about issues that the District will be facing in developing a budget for FY’11. Valuations for the 4 towns are up about 2.4%. Student enrollment is 2,740, down about 100 from last year. This will result in an estimated loss of subsidy of $ 400,000 or more. The State has imposed another curtailment this year of about $413,000. The State is expected to cut spending an additional $36,000,000 in FY’11. This will mean roughly $ 400,000 will be cut from the District subsidy for FY’11. All told the District expects to lose $1,200,000 or more in State subsidy for FY’11. The Finance Committee also reviewed other issues that may affect the budget. The ability to appropriate more fund balance toward next year’s budget was discussed with no conclusion to the availability of additional fund balance for FY’11. There may be savings of approximately $219,000 by closing the West Harpswell School. It was recognized that money to offset this year’s curtailment would not be put back in to the FY’11 budget. The District Board of Directors is considering a retirement incentive for teachers and administrators. Anthem is signaling a 10% increase in health insurance premiums. Mike Wilhelm then passed out a list of initiatives and programming that the District has on its plate for this year and beyond. He thought that the Finance Committee should The Finance Committee agreed that:
The Finance Committee discussed holding a Public Forum before completion of the first draft of the budget but made no decision to hold a Public Forum. They agreed to seek input whenever possible and to solicit viewpoints from the pubic about what the District does well and what the District does not do well. The meeting adjourned at 7:00 PM Respectfully submitted, Steven A. Dyer
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