1/15/1991 BOARD OF SELECTMEN Minutes

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r I BOARD F SELECTMEN MINUTES TUESDAY JANUARY 15 1991 Page 3 Report from the Treasurer: Concerning the cash problem with the banks, Mrs. Shaw reports that la.she e is doing fine. We are very fortunate that the bulk o our money is with the state Street Bark which is rated number one in the Commonwealth to date, She will be subscribing to a rating service to rake sure she can get the best value for the money. With concerns towards the Bark of New England, she reports of an earlier tip to withdraw the money. It is now in the Sandwich CO-0 Bank. Some monies are in some of the better banks and under the 100.,000 limit so there is 'no need to worry. Selectman carter has asked Anne Shaw to supply the Board with status reports of interest rates and where the money is located. The quarterly reports she sends to the Department of Revenue will be submitted to the selectmen. Medical Insurance Account: It is the consensus of the Board for the Treasurer 'to survey the Department Heads to properly budget the Medical Insurance and Unemploy- ment . Selectman Manson has suggested Mrs. . Shaw use a percentage of the past rears to incorporate in her estimations. selectman Lawrence also agrees with using the last three years percentage to make sure portion is budgeted. UnemploLaent Account: It is the consensus of the Board to use the Finance Committee's recommendations for the Treasurer to survey the l e 4rt ents as well as the School Department ent of anticipated changes in the budget e a.ra.- tion period. Assessor's Overla�y Account: Since the Board of Assessors do most of their re-evaluation work in house, the re-evaluation account should recieve funding on a. yearly basis, Ir. vacca.ro reports the $25,000 has not been added to the Funding of the re-evaluation account this year. The Finance Committee has recommended the account be reimbursed b $50,000 next year to upgrade the account, This would have to be an article at Town meeting. Selectman Hanson feels the $25,000 sho ld be added to this year's deficit to review. selectman Carter agrees, Interest on Abatements Account: Mr. va.ccaro has recommended the Full amount of the interest payment be included in the abatement check instead of issuing another check. This cost the Town extra in postage and handling costs, Anne Shaw reports that by law, not knowing the date of whenthe checks were cut, the interest rate could not be figured, This is why the checks were issued separately. she hopes it will not happen again,