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M shpee School Committee <br /> Finance Meeting <br /> Minutes <br /> January 20, 2010 <br /> Present were: Richard Bailey, Janice Mills, Kathy Stanley and Jose Franco. Also in <br /> attendance were Ann Bradshaw, Superintendent and Maria Hortaridis, Business Manager. <br /> 1. Call Meeting to Order <br /> Mr. Bailey called the meeting to order @ 630pm. <br /> Mr. Bailey announced that MaryRose Grady has resigned her position as <br /> School Committee member on January 14, 2010. 11r. Bailey praised Mrs. Grady <br /> for her accomplishments while serving on the Committee. <br /> II. Business Ad I istrator's Report <br /> 2.1 FYI0 Budget Update <br /> Mrs. Hortaridis gave an overview of the'FY 10 budget. <br /> Mrs. Mills questioned the 2 overspends. Mrs;Hortaridis said they have <br /> encumbered monies for transportation and the copy machines. <br /> Mrs.Hortaridis is planning on doing a full evaluation of the copiers and <br /> will present at the next finance meeting. <br /> 2.2 Status of Grants Revolving Accounts and Lunch Pro m <br /> Mrs. Hortaridis gave an update on the grants, and Medicaid <br /> reimbursements. Revolving Account report was reviewed. Mrs. Hortaridis <br /> revised the report by adding another column which shows the last date o <br /> balances reported, <br /> 2.3 Financial Procedures Manual <br /> copy of the financial procedures manual was given to the Committee for <br /> their information. This report explains the reporti <br /> ' ng methods used by the <br /> Business office in 1lashpee. <br /> 111. FY11 Budget Update <br /> Mrs. Bradshaw gave an overview of her meeting with the budget sub-committee <br /> on January 11. As of this week, it appears that school funding will be reduced an <br /> additional 2%,bringing the budget gasp to nearly$1.9M. Where are several variables that <br /> could affect the budget gap. The town is looping at options that could bring in more <br /> 5 <br /> revenue to the town. All parties agreed that the charter timeline that sets the school <br /> committee vote for January 20 is not advisable and has been rescheduled for February 24. <br /> Mr. Bailey as well as other committee members expressed their concerns <br /> regarding the budget. Mr. Bailey stated that"everything is on the table". All areas of the <br /> budget will be looked at and reviewed carefully by the Committee. <br /> 1 <br />