Tuesday, January 8, 2013

Live reporting - prep for budget FY 2014

Jeff providing an overview
department budget review underway, school budget due about the end of the month
should have all info except for health insurance due about mid-February
by end of Feb should have our budget ready
would still have changes at the State level depending upon what the Federal government does
I think we'll get by in FY 14 but it will be tight
FY 15 will be a huge struggle

I don't see us adding people, maybe a half person, or nobody
I don't think the School will be in for staffing increases

In the first week of Feb we should be able to give you some good numbers

How we approach OPEB will be key, we can't keep kicking the can down the street
can solve right away but need to get the game plan ready and execute
building up for 70 years, now time to address it

June 30th OPEB report by actuarial service to be shared with FinCom
asked to recalculate the OPEB accounts to incorporate the enterprise accounts

Annual Audit report due to the Council first meeting in Feb

Wellesley passed an override to fund their OPEB
We have to have a plan and fund our plan, then the State can manage our account to gain efficiencies going forward

MMA voted against report on OPEB as the report really didn't address the issues

FinCom encouraged to attend the Annual MMA meeting
Fri, Jan 25, Sat Jan 26

weather has been cooperative at the high school currently on schedule
steel should be coming in Feb assuming all the concrete is poured
contingency issue raised with unsuitable soil; in excess of $5M to the good still on overall budget
don't anticipate a lot of change orders as the school has been built a few times

Davis Thayer architect starting later this week, should have a report end of Apr/early May with an estimate

coffer dams going up at DelCarte with the good weather and low water so that is going well

working on an e-billing, put out an RFP but didn't get satisfactory responses
may get implemented for next year to get an email instead of paper bill

likely to bond half of the school next August, continuing to look at the analysis
looking to bring the school interest at 3.25 interest instead of 4.25 would save a whole lot of folks some money; as we get closer to the spring, we'll look to make that decision

re-using fencing from the high school that was taken down, will re-use it at the Beaver St facility in spring to complete the work

motion to adjourn, passed

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