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12 <br /> Finance Committee <br /> Minutes <br /> March 4, 2021 <br /> Article <br /> To see if the Town will vote to appropriate the sum of $419,120, for the operation of the Kids <br /> Klub Enterprise Fund for Fiscal Year 2022; said sum to be raised from $419,120 in receipts of the <br /> Enterprise, or take any other action relating thereto. <br /> Estimated Revenues <br /> Registration Fees $ 3,000 <br /> Tuition $ 415,845 <br /> Investment Income $ 275 <br /> Total Budgeted Revenue $419,120 <br /> Estimated Expenses <br /> Salary (full-time; incl. long.) $293,570 <br /> Salary (part-time) $ 27,000 <br /> Benefits (Health, Life, Medicare) $ 47,500 <br /> Building Expenses $ 51,050 <br /> Total Budgeted Expenses $419,120 <br /> Net Profit/Loss L0 <br /> It was agreed the article would be HELD for additional information regarding the current <br /> operational rate of tuition revenues, and reliability of the projection during COVID and in 15 <br /> months. If the revenue was to fall short, would the estimated expenses be adjusted <br /> accordingly? How many employees are full time salaried? <br /> It was affirmed that yearly revenue projections are based on tuition charges per day. The affects <br /> of COVID-19 in the 4th quarter of 2020 are realized with some impact in the start of 2021. The <br /> Kids Klub is expected to be in full operational status in October with 40 pre-school children and <br /> 9 infant under care. The anticipated revenue in FY22 is $428,806. Excess expenditures remain <br /> in the operational budget to offset any shortages. There are 7.5 employees receiving wages with <br /> benefits. There is a direct correlation between debt and revenues. Fixed costs are adjusted <br /> accordingly, and all expenses are certified annual by the MA Department of Revenue. <br /> Motion made by Mr. McKelvey to recommend the Kids Klub Enterprise Fund. <br /> Motion seconded by Mr. Carrier. <br /> VOTE: Unanimous. 7-0. <br /> Roll Call Vote: <br /> Mr. Pettengill, yes Mr. McKelvey, yes Mrs. Furbush, yes Mr. Richardson, yes <br /> Mr. Miller, yes Mr. Brady, yes Mr. Carrier, yes Opposed, none <br />