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MASUPEE FINAME C' COMMITTEE <br /> MINUTES <br /> T U ES A ,JAN U A.RY 29,2002 <br /> Present: Chairnimi Jeff Aniold <br /> Dean Arden,Fred B131he,Kathy Lynch, Carlton Meredith,Janes Morg ui <br /> Also Present: riarvamic Gibbs,Treasurer/Tax Collector <br /> CALL To ORDER: <br /> The ineethig was called to order by C lu�rnian.teff Arnold at 7:00 p.m.,at the i la lipee Toi n Ha-IL Meeti i <br /> Room 411, on Tuesday,Jwivary-29,2002. <br /> APPROVAL OF MATTES; <br /> Carlton Meredith made motion to approve the Minutes of the January 8.2002,Finance Committee Meetin&I <br /> seconded by Dean Arden. <br /> VOTED—5-0—Unaninio us <br /> REOUEST FOR T&A NSF R OF FUNDS; <br /> request for a transfer of funds from Lhe Rcservc'Fund to Clic Payroll Services Account in atc amoum of <br /> $19,000.00 was rcccivcd from aic Trcasurer/Tax Collector. 1 laryat e Gibbs Nvas present at the meeting and <br /> explained the reason for the request. For nom.years the Town of'.ashpec outsourced its payroll to Autoniaic <br /> Data Processing. The weekly clwgcs have b cn absorbed in a compensatin balauice agrcenaent bet s een dic <br /> Town and bmik. Chi Dcccmber 1 l th the Vice President of the bank explain d aiat the agrement they had Nvith <br /> the previous Trcasurcr/Tax Treasurer/TaxCollector could no longer be Honored as of January 1,2002. Inc cs pl incd with the <br /> declining interest rates and 6sing costs of payroll services it made it impossible to continue N�ritlt this agreement. <br /> The To-vvn does not have a sighed contract N ith the b,,uik so could not insist that the)T continue until the enol of <br /> the fiscal year. Tlrls. Gibbs said she now has i�l oic s that need to be paid and is requestuig this aniomit to pad, <br /> current invoices and invoices vaitil the end of the fiscal year. This expenditure is e-traordinary, as she dichii t <br /> have wiv warning of this situation tuitii the bank called on December 1}th. She put$65,000 in her budget for <br /> next year to cover this expense witil MONIS is up and rutuung <br /> Fred Slyilie made motion to approve the request to transfer$191,000 fronn the Reserve Fund to the Payroll <br /> Services Account, seconded by Carlton Meredith. <br /> VOTED— —Ullanuillous <br /> CAPE COD REGIONAL TECH BUDGET; <br /> Jin Morgm briefed the Committee members on tlic mccWig he attended last week to discuss thio Cape Cod <br /> Regional Tech budget. They looked at tlic total budget and studuit a t`ollmcnt.figures.He looked at numbers of <br /> real cost per student which is ovcr'$12,000.. They were given a figure of$8,700 but.that figure does not include <br /> Chapter 70. The current budget per student is$5,800. The budget includes significant raises. Increases arc <br /> I I'Vo this year and he felt it should not pass as it is and will talk with oilier towns.and s e if he can get support. <br /> They need five towns to vote"no"out.of heel e and they will have to go back and re-work the budget. Orleans, <br /> lellllcct,Provincctown and'Truro probably will not go with Uic budget. Jing Morgan said he would proposc to <br /> not reconuncnd Lhc budget as it stands and he mill prepare a f�statm nt to give to the Board. <br /> Dean Arden made inotion to give Jing Morgan authority to pros. d and erected hini to contact at lest five <br /> other towns and to ncgaiatc for Uic Finance Committce, seconded by C rltonri redith. <br /> VOTED 5-o—U naninious <br />