HomeMy WebLinkAboutFCMeetingMinutes_10.02.03 FINANCE COMMITTEE MINUTES
OCTOBER 2, 2003
ATTENDANCE: The following members were present: Jack Watkins, Chairman, Keith Mitchell,
Vice Chairman, Bernice Fink, Melinda Coppa, Steve Dawe, Mark Nichols, Paul Stewart, Michael Batsimm,
Paula Porten and Joyce Hanlon, North Andover's Director of Finance and Administration And Dr. Harry
Haruturian, the new Superintendent of North Andover schools.
CALL TO ORDER:
Jack called the meeting at 6:00 pm
NEW BUSINESS:
Dr. Harutunian, the new Superintendent of North Andover schools discussed the upcoming school budget.
He handed out a copy of the Reading Public Schools Budget of 2003-2004 and discussed how he plans on
using such a format in presenting the North Andover school budget. The group reviewed the Reading
Public Schools Budget and how the items such as Administration, Regular Day, Special Needs, Other
(sports, etc.), and Maintenance were itemized. The group also discussed how the Reading Budget has a
separate page for the SPED operating budget, grants, revolving accounts and enrollment data.
Dr. Hanitunian also asked the group questions which he would like us to think about: 1. Problems we see
with the schools, 2. Things we are proud of with the schools, 3. Things which we would like to preserve,
and 4. Expectations we have with Dr. Harutunian.
Free Cash: Jack informed the group that the Department of Revenue certified free cash in the amount of
$1,662,277.00.
Joyce Hanlon then handed out a list of Special Revenue Funds, Capital Project Funds, Enterprise Funds and
Pension Funds for review. She further discussed the S &P bond rating and Moody's rating and her plans to
increase North Andover's bond rating.
APPROVAL OF THE MINUTES:
Keith MOVED to approve the Minutes of June 24, 2003 and Mike seconded. The motion passed with Steve
abstaining. Mike then MOVED to approve the July 10, 2003 minutes with a minor change and Keith
seconded. The motion passed with Melinda, Steve, Mark and Paul abstaining. Melinda then MOVED to
approve the September 4, 2003 with some revisions and Keith seconded. The motion passed unanimously.
NEXT MEETING:
On October 9, 2003 at 6:30, with place to be determined.
ADJOURNMENT:
Keith MOVED to adjourn the meeting at 7:30 pm. Melinda seconded and the vote was unanimous.