Finance Committee Meeting Minutes/August 17, 2010

Submitted by jhanscom on August 26, 2010 - 8:33am

MSAD/RSU #11
FINANCE COMMITTEE
MERLE E. PEACOCK JR. BOARD ROOM
AUGUST 17, 2010
7 pm

AMENDED MINUTES

Present: Eric Jermyn, Chair, Marc Cone, Tyler Trott, Deb Couture, Sarah Ricker,
Tom Farkas, Andrea Disch

Others: Becky Fles, Jon Stonier, Diane Potter

The Committee toured Gardiner Area High School with Mr. Stonier

I. Mr. Jermyn called the meeting to order at 7:15 pm.

II. The Committee signed the warrants.

III. Ms. Disch provided the spreadsheets to the Committee on the lighting project. The figures used in the spreadsheet were obtained from Gorham Savings. Ms. Disch also provided a prepared quote on the project from Kennebec Savings.

VOTED: 6-0 Motion by Mr. Trott, seconded by Mr. Farkas to accept the proposal as proposed for this project and have the Business Manager secure cost effecting financing for up to five years.

Ms. Disch stated the Unit’s relationship with Bangor Savings has been less than ideal. The rate of
return on our funds is significantly lower. Ms. Disch requested permission of the Committee to begin the process of changing banks from Bangor Savings to Kennebec Savings Bank.

VOTED: 6-0 Motion by Mr. Trott, seconded by Mr. Farkas to recommend to the full Board to authorize Ms. Disch to transfer funds from Bangor Savings to Kennebec Savings subject to legal review.

IV. The meeting adjourned at 8:15 p.m.

Respectfully Submitted by,

Andrea Disch
Recorder

Groups: