8/7/2017 BOARD OF SELECTMEN Minutes

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13 Board of Selectmen Minutes August 7,2017 APPOINTMENTS & HEARINGS Dawn Thayer, Finance Director: Approval of FY 17 End of Year Transfers: Dawn Thayer,the Finance Director was before the Board of Selectmen to request approval of the following FYI year End Transfers; Library: $10,700 Transfer from Library FIT Clerical Salary to Library Energy Expense HR/Treasurer: $4,050 Transfer from Medicare Expense to LIUNA Surcharge Expense Building: $2,300 Transfer from Selectmen FIT Salary to Building F/T Salary Accounting: $1,000 Transfer from Human Resources F/T Salary to Accounting FIT Salary Veterans Services: $5,600 Transfer from Medicare Expense to Veteran Benefits Expense In accordance with M.G.L. Chapter 44, Section 33B, the Selectmen with agreement of the Finance Committee may transfer any departmental appropriation to another appropriation within the same or other department during May, June and the first 15 days of July. The transfers would avoid deficits in the operating budgets for each department as noted,which otherwise require the Town to raise those deficiencies on the following year's tax recap. Motion made by Selectman Gottlieb to approve the FYI7 End of the Year Transfers as listed and allowed by M.G.L, Chapter 44, Section 338. Motion seconded by Selectman Cotton. VOTE: Unanimous. 5-0. Roll Call Vote: Selectman O'Hara,yes Selectman Cotton,yes Selectman Sherman,yes Selectman Gottlieb,yes Selectman Cahalane,yes Opposed,none Update on OPEB Actuarial Services, Segal Consulting_ Correspondence was received from Dawn Thayer, Finance Director dated August 3,2017 with regards to Other Post-Employment Benefits(OPEB)Actuarial Services. As a result of an RFP for a collaborative bid for OPEB Actuarial Services,the Barnstable County Commissioners have executed a contract with Segal Consulting. All member units of the municipal retirement systems of the Cape&Islands have been offered to participate in the utilization of this contract. As per the contract,participating municipalities would work directly with Segal and make payment for rendered services directly. It is recommended the Town of Mashpee participate in the utilization of this contract. Segal Consulting has provided actuarial services for the Town in the past. The opportunity to utilize the contract signed by the County would eliminate the need for Mashpee to duplicate the process, and result in a reduction of costs within the collaborative bid process. In the two-year process,the consulting contract with Segal would be for FYI 6. The last contract was in 2014.