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Finance Committee Minutes
November 6, 2008
A special meeting of the Finance Committee was held on Thursday, November 6 at 8:00 a.m. in the Superintendent’s Office at the Cape Elizabeth Town Hall.
Committee members present: Rebecca Millett (Chair), Trish Brigham, Peter Cotter
Others Present: Alan Hawkins, Pauline Aportria, Kathy Ray, Karen Burke, Sue Buckley
The committee continued its review of the food service program. Sue Buckley presented the committee with comparable lunch costs across other districts, highlighted major challenges facing the program and outlined some general approaches to developing solutions. In addition, the committee discussed the need for improved management of the food services program.
Additional questions will be answered and further discussions will take place at the next meeting.
The finance committee’s next meeting will be Wednesday, November 19 at 8:00 in the superintendent’s office.
Finance Committee Minutes
October 29, 2008
A meeting of the Finance Committee was held on Wednesday, October 29 at 8:00 a.m. in the Superintendent’s Office at the Cape Elizabeth Town Hall.
Committee members present: Rebecca Millett (Chair), Trish Brigham, Peter Cotter
Others Present: Alan Hawkins, Pauline Aportria, Kathy Ray, Sue Buckley
The energy report was reviewed. In response to concerns about the high price that was locked in for oil and the request by the committee for administration to find $20,000 from the budget that would fund the budget overage, Ernie McVane believes that with the energy savings plan approved by the school board in October, the district will save roughly 20,000 gallons in consumption this fiscal year. In addition, the district continues to reduce its use of kilowatts as compared to last year (total of nearly 58,000 kilowatts) for a savings of $8,000 year to date. The committee learned that gasoline for school buses is provided by public works and that the gasoline purchase is put out to bid. Alan will inquire with Bob O’Malley as to why that is their practice. Information about the districts past and current energy savings efforts will be provided on the school website.
The committee reviewed the food service program. Sue Buckley presented the committee with data on pricing, cost, revenues and menus. Given the bulk of information provided, and Food Services Director’s need for additional time to present a plan for financial oversight, the committee will meet in a week. Significant to note is that many of the same food items last year cost the district anywhere from 18% to 60% more. Personnel expense has increased 4%.
The finance committee will be holding a special meeting Thursday, November 6 at 8:00 in the superintendent’s office.
Finance Committee Minutes
September 24, 2008
A meeting of the Finance Committee was held on Wednesday, September 24 at 8:00 a.m. in the Superintendent’s Office at the Cape Elizabeth Town Hall.
Committee members present: Rebecca Millett (Chair), Trish Brigham, Peter Cotter
Others Present: Alan Hawkins, Pauline Aportria, Kathy Ray, Sue Buckley
The committee signed warrants.
The committee reviewed the food service program. It ended the year with a negative balance of $59,731 and required a transfer from the general fund balance. The committee discussed with Sue Buckley grave concerns about food service’s financial management and the need for a financial plan and analysis for the coming year to avoid a similar result in 08/09. This plan will be presented to the committee at its next meeting in October. It was also noted that recent changes in the way elementary school students were handled in the cafetorium resulted in disincentives for purchasing lunches. This will be discussed with the staff at Pond Cove.
Regarding energy, $3.41 was locked in for heating oil for 90,000 gallons which would put energy costs $20,000 over budget. Given that this is a known overage, Pauline and Alan will locate $20,000 from other expense lines to transfer to heating oil and will present their recommendation to the committee and then for school board approval. With lighting changes made by Ernie McVane, the district has already saved 39,000 kilowatts or $5,450.
The year end general fund balance for 07-08 is down to $248,946 which is its lowest point since 96-97 ($209,775). The 10 year average for the balance is $334,222. The balance has decreased over the past 3 years as a result of tightening budgets.
The next finance committee meeting will be held Wednesday, October 29th at 8:00 in the superintendent’s office.
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