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2 <br /> K I H-"`< AOL <br /> Board of Selectmen <br /> Minutes <br /> February 25,2002 <br /> APPOINTMENTS AND HEARINGS: <br /> School-Committee/Finance Committee__(continued)- <br /> InaddAion to-the uncertainty ofChapteL_70.aidran-merease o£LS°/a is <br /> anticipatedin insurance and benefit premium costs. It was also noted that <br /> the_police andfim contra are.Tending settl ment _An_additiunal-- <br /> $245,000 is estimated based upon other contractual settlements. <br /> Utilizing a figure of$1,100,500 for school.salary contract,obligations,the <br /> updated revenue analysis reflects a bottom line deficit of minus $520,151. <br /> A 5519,000 shortfall is also projected for-the.above.referenced-contract. <br /> settlements. The shortfall estimate includes a 10% reduction in Chapter <br /> X aid-- <br /> At-the-lasL <br /> id__At_the-lasr budgetmeetm the_SchooLDepartmentiequested theBoard— <br /> consider a budget of$17,492,000 for fiscal year 2003. Last year's budget <br /> apprepriation_was-$15,340,000._ <br /> The Superintendent-of.Schoolssuggested.the FY03_budget be.increased-by <br /> $1,500,000 to support increased salary contractual obligations, SPED <br /> tuition, mandated SPED_new hires and increased_enroUn=t-positions.- <br /> Upon review of the figures, the second round school budget request for <br /> fiscal year 2003 totals $16,800,000. <br /> It was-noted-that-an-administrative team_comprised.ofinemhers-Ofthe_ . <br /> School Department reduced the budget by$692,203,000 although the <br /> Sehool-Committee has nn officialLyendorsedthe pmposed_schooLhudget. <br /> reduction. <br /> Preliminary hudgetreductions-include-asevised_base_payrollralhree=Year <br /> lease of computers opposed to five, a reduction in utility projections, <br /> buildin and a aunds>.athletics,_text-hooksrstaffing and a_SPERvan__ <br /> purchase. <br /> The Finance Committee presented its budget recommendation of <br /> 516,472,000. When questioned by Selectman Ken Marsters about the <br /> figure of 516,471,000 the Chairman assured him and the Board that this <br />