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BOARD OF EDUCATION – REGULAR MEETING – JUNE 20, 2011 RESOLUTION FOR RELEASE OF RESERVES AND INCREASE APPROPRIATION FOR THE 2010-2011 SCHOOL YEAR: BE IT RESOLVED that the Board of Education of the Half Hollow Hills Central School District release the following dollar amount from the indicated reserve at June 30, 2011 for the purpose of employee compensated absence expense. Employee Benefit Accrued Liability Reserve ($1,450,000) BE IT FURTHER RESOLVED that the Board of Education authorizes these funds be added to the current 2010-2011 budget by increasing the appropriation as detailed below: A9070-800-00 Compensated Absences $1,450,000 A Motion was made by Mr. Marcucci, seconded by Mr. Ptucha, and carried unanimously (6-0) to approve the above Resolution. RESOLUTION TO FUND RESERVES: WHEREAS by action of the Board of Education, the Half Hollow Central School District has previously established the following reserves whose balances at June 30, 2010 were as follows: Reserve for Employee Benefit Accrued Liability$12,951,301 Workers’ Compensation Reserve............................1,944,635 Reserve for Retirement Contribution ....................10,933,635 Unemployment Insurance Reserve.............................238,581 Reserve for Property Loss ..........................................482,987 Reserve for Liability ....................... ..........................315,400 NOW BE IT RESOLVED that upon the recommendation of the Assistant Superintendent for Finance and Facilities, the Board of Education of the Half Hollow Hills Central School District authorizes transferring funds into the following reserves so as not to exceed the following reserve amounts for the period ending June 30, 2011: Reserve for Employee Benefit Accrued Liability$15,500,000* Workers’ Compensation Reserve ...........................3,820,817* Reserve for Retirement Contribution....................11,580,019* Unemployment Insurance Reserve ............................238,581* Reserve for Property Loss..........................................482,987* *Please note that these dollar amounts are the maximum allowable for each category, and would fully fund each of the reserves. The actual amounts transferred will be determined after the close of the 2010-2011 18
BOARD OF EDUCATION – REGULAR MEETING – JUNE 20, 2011 fiscal year, and additional resolutions will be provided to the Board of Education prior to any transfers into reserves are completed. Interest will be allocated to the reserve accounts at the close of the fiscal year using applicable interest rates per General Municipal Law. Additionally, as part of the 2011-2012 Budget, the district will fund budget appropriations from reserves up to the following amounts: Unemployment Insurance Reserve......................................................$50,000 Reserve for Retirement Contribution ...............................................2,600,000 Workers’ Compensation Reserve........................................................300,000 Reserve for Employee Benefit Accrued Liability ...............................800,000 $3,750,000 A Motion was made by Mrs. Bottenus, seconded by Mr. Marcucci, and carried unanimously (6-0) to approve the above Resolution. ADDENDUM TO FINANCE AND FACILITIES REPORT SCHOOL LUNCH SOFTWARE UPGRADE: BE IT RESOLVED that the Board of Education of the Half Hollow Hills Central School District approve the upgrade of the cash register software for POS to QSP version 4.0 and change the vendor from PaySchools to PayforIt at a combined cost of $3,033. BE IT FURTHER RESOLVED that the Board of Education approve the increase of the parent on-line transaction fee from $2.00 to $2.50. A Motion was made by Mr. Marcucci, seconded by Mrs. Catapano, and carried unanimously (6-0) to approve the above Resolution. CLAIMS AUDIT REPORT: A copy of the Claims Audit Report for the period ending May 31, 2011 prepared by Michael Kearns, Claims Auditor, has been forwarded to the Board. TREASURER’S REPORT: A copy of the Treasurer’s Report for the month of April has been forwarded to the Board. CASH FLOW SCHEDULE: A copy of the Cash Flow Schedule for the period ending April 30, 2011 has been forwarded to the Board. 19
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