FINAL OS SC Mtg Minutes 2018-05-15.pdf

Browse Search

d. Update on Proposal for Melanson Heath Continuation Contract As a follow up to the last meeting, and as informational,Mr. Mahoney reported that he received a proposal from Melanson Heath for a 3 year continuation contract for Audit Services, and that he was comfortable with it. He pointed out that the Retirement System Audit will be paid by the Retirement Board, and that the Student Activities Audit in needed only once every 3 years; Melanson Heath will do the Student Activities Audit for FY 18 Audit at$3500, and in subsequent years,MASBO consultants will do it for$1900. e. Update on Town Meetings and FY 19 Budget Approval Mr.Mahoney reported that 9 of the 10 towns have considered the FY 19 budget and all have passed it. The necessary requirement is 7 of the 10 towns.The FY 19 budget is therefore approved. f. Update Finance Subcommittee's Discussion on Long Term Strategy re OPEB Mr.Mahoney reported that the Audit Report provided a context for the Finance Subcommittee to begin discussion about developing possible long-term strategy for approaching the liabilities associated with Other Post Employment Benefits(OPEB). Finding the right level of funding through such possibilities as deciding on an amount/employee, funding the current year liability, developing a trust to generate interest, or creating equal assessment formula were some ideas discussed. He noted that this is an ongoing, future discussion. Ms. Flood added that it is not unusual to low-ball the figure,and many towns are struggling with finding a long term solution. Mr. Stulin noted he was disinclined to be more aggressive, and wondered about comparisons with other towns. Mr. Gammill expressed his opinion that community wealth is a factor, as it seems that towns close to their levy limits are making only token payments. He also noted that the conversation began when the audit showed that the liability grew$1.3 M in one year; to him, it is prudent to begin to look at options. Current costs, similarities to debt service,the fact that the District has no tax power, and annual fair share were points emphasized. Ms. Leone noted that Lancaster,as a smaller town,has been addressing this, and she noted that municipalities and schools are different. Ms. Flood noted that the figures fluctuate based on actuarial computations,but the liability is real. When asked his position on the subject,Mr.Mahoney expressed that the challenge in the ability to fund it; charging non-member towns their share on top of a capital fee and any other fees may be a disincentive. He noted that it will be a future agenda item for further discussion at the Finance Subcommittee. 9. SUBCOMMITTEE REPORTS a. Special Policy Task Force,Alice DeLuca Ms. DeLuca took each policy separately, described the amendments proposed for 2"a reading. 1.EFD: Meal Charging Policy(new) Comments included that there was a typo for amendment, and that this policy indicated a good use of technology. The following vote was taken: 7