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ti <br /> Ms. Mason answered that it is due to additional hiring at the schools, as well a <br /> vacation buy backs at the schools which have built into certain contracts that they <br /> were not aware of. <br /> Mr. Avis asked if it was traditional that the buy backs cone back to the Cottee, <br /> and if not, then funded on their own. Ms. Mason stated that the buy backs jack up the <br /> salary,and also the Medicare and that is why there is no participation. his. Mason <br /> stated that a bill is now being sent to the School Department on health benefits so <br /> they are charging new hires, and the same will have to be done with Medicare, so <br /> there is an understanding on the effect on the town budget. Mr. Hutchinson <br /> commented that there is a normal rule that they do not fund and neither does the <br /> Finance Cnrnittee,and tl'at when somebody retires,they pay out for sick leave and <br /> everything else,which is an unfunded liability. <br /> Ms. Mason stated that they are taking$5,000.00 which is the maximum for medical <br /> benefit. She stated that they could not transfer more than$5,000.00 because there is <br /> not enough to cover the medical benefit. <br /> Mr. Hutchinson moved to approve the transfer, Mr. Gaior seconded. All were <br /> In favor. <br /> IV. old Business <br /> Ills. Mason pointed out the subject of liabilities and stated that she had sent a letter <br /> and has the opportunity to buy into an actarial contract for far less so it looks like <br /> for$3, 0 .00 each con unity can buy in. Ms. Mason stated that what they do right <br /> now, is provide personnel department insurance,vacation, sick and health benefits for <br /> all employees. They will look at pensions. Mr. Hutchinson asked Ms.Mason if this <br /> will look into health insurance for retirees as well. Ms. Mason stated that they will <br /> have to start putting money aside, be ready, and have a plan. Mr. Hutchinson stated <br /> that he, Mr. Patrick and Ms. nressi are assigned to that account. Mr. Hutchinson <br /> commented that perhaps Mr. LaRocca and Ms. Mason could work with them on <br /> where they are going on this. <br /> Mr. Hutchinson asked Ms. Mason about the revenue side ftom the state and pointed <br /> out that he had read about lottery and local aid. Ms. Ma,son stated that the will see <br /> about$100,000.00,bot that their assessments had gone up, so really,they were not <br /> going to see the whole $100,,000.00. However, Ms. Mason said they.had received a <br /> additional check for$+70,000.00 and about$129,000.00 in additional lottery aid, and <br /> although Ms. Mason had not seen it,there is some highway money. Ms. Mason <br /> stated that she is really counting on their revenues going up. <br /> Air.Hutchinson asked Ms. Manson if she intended to pursue ftmding in the capital <br /> items at a special town meeting. FIs. Mason stated that Kathleen had scheduled the <br /> meeting for the first week in August and will give notice to the Finance Committee. <br /> 2 <br /> f <br />