Laserfiche WebLink
Breadcrumb Navigation:
($300,000 for the schools and $120,000 for municipal). Budget will be amended once <br />town has evaluated recommendation. Town will proceed to work with an independent <br />consultant, Group Benefit Strategies, to get an independent recommendation and will <br />factor in the analysis from Blue Cross. Work to be completed by February 23 However, <br />the two analyses and recommendations are not expected to differ given standards in <br />actuarial methodology used by both. <br />Discussion ensued regarding the structure of health insurance funding in the town <br />budget. Health insurance expenses are funded via a transfer from the general fund to a <br />trust each month. Share of claims are posted and paid against the trust each month. Any <br />surplus remains in the trust. Amount will vary depending on number of employees, plan <br />and rates. Trust includes a cushion to cover a run of expenses. Cushion is typically 3 <br />months and electronic billing has made claims estimation more accurate. Also, Blue <br />Cross Blue Shield runs a regular claims report. Town has also been increasing stop -loss <br />insurance for extraordinary claims. <br />b) Minuteman Tech Adjustment <br />The estimate of the Minuteman assessment will be adjusted from $1.8 million to <br />$1.711 million freeing $89,000. <br />c) Gas and Diesel Prices <br />Gas and Diesel prices were locked in for next year 2010 and affects fire, DPW <br />and police vehicle expenses. <br />d) Partial Gap Closure in the Municipal Budget <br />Gap has been reduced by $241,000. New gap is $144,000. Fee adjustments and <br />reductions by various departments have yielded the savings. Cuts will be made at the <br />margin. $80,000 is material in that it is in hold for salary increases. <br />Schools vote their cut list on February 28 <br />The committee voted unanimously by roll call to go into executive session to <br />discuss collective bargaining strategy at 8:56pm <br />Meeting returned from executive session at 10:05pm <br />AC members asked to submit preferences for article write -up responsibility. Future <br />tentative meeting schedule discussed as follows: <br />Feb 11 <br />7:30pm <br />Feb 25' <br />6:00pm <br />March 4 th <br />7:30pm <br />2 <br />