001Right. So, call us to order at not 650, sorry, 657. This is the handover special board meeting, which will hopefully be quick. Um, any members of the board need to reorder anything on that? Okay, super. Uh, any members of the public needing to address the handover board on handover matters. Super. All right. Good to answer everybody. All right. So, our first order, we have two things to do, guys. Um, one is to Oh, three. We have the DOE to approve as well, I think. Um, one is to just to uh vote on the revised budget guidelines. We approved them at the last meeting. We just didn't fix our language to reflect the changes that we all discussed and nodded about. So, that will be one item. Um, any discussion on that? If not, I'll move
002on to the next one. >> Just one point. It is important to mention and I heard from um Dela today that the AEDs are actually no longer needing to be replaced. I think you guys did some cool requ you'll that is crossed off and there's a note in the update. >> Okay. >> That's the mandator or something else. >> No thes >> okay. Uh the DOE that's just a finalized updated audit. Is that right? >> Uh the DOE is the actual state reporting. Um it's basically a self audit and then we submit it to the DOE and the DRRA. These are the uploaded online also but sheet that needs to be signed. Um as I said to the DOE >> okay and uh are we were approving that report this evening? Is that correct? >>
003Oh boy. Yes. Okay. Excellent. Um, questions on that. >> See, I know I don't know when we got it, but I actually had a chance to looked at last. >> Um, we looked at I think a not finalized draft of it and now it's finalized. So, we did see Yeah, we did see that. But, anything important to share with us from the DOE report? Um, as far as it goes, there are some conversations going back and forth. Um, we had about 1.8 million of um, fund balance and out of that fund balance, it will build um, be a small $22,000 um, incumbrance. And then there's the $100,000 for the warrant arrival that passed putting 100,000 into our maintenance capital reserve. Um and then we have um also what we're looking at part of the conversation
004about the retained balance um >> trying to determine some of that and the tax implications we can't right now >> because of the assessment which is still kind of um open-ended right here for the for the new valuation but based on if we base it on the old >> um and I contacted Jamie so I had her look at the Jamie T >> so um she could also review my DOE and stuff like that just so she familiar with what the district and all um and everything else and we were talking about things a little more and in that sense uh part of her recommendation would be for us to just continue as we were going to do only retain about two two and a half% roughly around 300,000 and then allow for the 1.4
0054 and that will still give us an opportunity to fix that according to law. >> Yes. So we'll we'll get to retainage in just a second. Are there any questions about the DOE at this point? The DOE report. Okay. Um so moving on to retainage. Um, so there, just so everyone knows, um, Theresa and I were back and forth quite a bit over the last, uh, 10 days trying to kind of get our heads around what our options actually are here. Um, and just to recap for everyone in our budget process, we had stated that we um, expected uh to be able to return 1.4 million in uh, year end surplus back to the taxpayers to offset taxation. um as it as it turns out that includes the 590,000 that we retained in last year's
006amount, right? And that's where I think our confusion has has been um and that's an amount that we um in years past have included as you're welcome to sit there. That's fine. Um that's an amount that we have we have included as part of our um revenues basically that we have been included as part of our our whole right to make it balanced between the expenditure appropriations and the re revenue. Um, and based on that, it's still at the end of, and this is what I was trying to probably not articulate well, but at the end of June, >> even though because of the way it works with the tax and we're setting our tax rates and everything else in the fall anyhow, sort of like a November to November for us in that respect.
007So, whatever the fund balance is that we have at the end of June, no matter what we had like the 590 or anything like that, it's all tucked back in there. Mhm. >> So now we just start with that fresh amount >> and so that's our starting point >> and that's where we go from there. >> Okay. Um so I guess the question we have before us then is how much of our then what is the final number Teresa? I'm sorry between windows here. >> It was 1.8 8 was the final and like I said there was small amounts on the um for encumbrances and other things couple other things but other than that um no other big amounts in the 100,000 so that left like 1.7 or so and then if we kind of
008go with the two two and a half% we go with keeping 300,000 retaining not keeping retaining >> um that still allows >> just coincidence for about 4 >> still go back to offset taxes, >> right? And and so I will just say my my concern is that, you know, since we started having this conversation, we've heard that we have um potentially a large unexpected uh healthc care bill coming that's going to hit us in this year. We have known roof repairs that need to happen very very very soon. Current leaks happening. we have, you know, the known repair of the uh accordion wall that is keeping us from being able to use a very large space within our school that we normally would use for classes and it's creating a a problem there. Um, and
009so all of that together is amounting to be $400 and some thousand dollars, right? And so I, you know, I >> I hesitate I I'm looking at sort of long term what is the goal of retainage? Part of it is to even things out from one year to the next and not create the swings. Um, and I know, you know, Jamie has has always been fiscally conservative, right, in her estimation of things um, from year to year. And I I am concerned about giving all of that money back when we know we have costs right now that that money needs to go to. So, yeah. Well, and we also voted at the disanual meeting to increase the amount of retainage. And I know that Jamie wasn't thrilled about that. >> So, I think she's still
010giving advice based on her preferred amount of retainage. But given, >> you know, if we had just said go ahead and fix the accord indoors, >> that would not be something we were we were kind of kicking around right now. So, I completely agree with you that we've got very real costs and some of them we should have >> dealt with right away. >> Mhm. >> Yep. Renee, did you want to weigh in? >> Uh, I know that we we've been talking a lot about this as well. Um, and I I just wanted to second all of your concerns uh that we see coming down the pipe. And so I am very much for however we can manage to smooth things out for our taxpayers, especially given what we know is going to happen around
011capital improvements in the town of Hanover in the next year. >> All right. Um >> so we're going to need to make a motion on this >> a night. >> Um and I one of the things that Theresa and I did work to clarify is that that 1.4 4 million that we estimated we would be giving back to taxpayers was not a contractual obligation, right? That was an estimate. Um so we do have the leeway to keep more of that recognizing that it is going to have some impact on the tax rate. Impossible to know what that impact will be because property values have gone up 44%. Thank you Neil for that summary tonight. Um, and you know, we we just I I believe and I was looking for this number because I know I
012did the calculation. I believe $100,000 has a is it three cent impact? >> Two to three cent impact if we went with the last year's rate. So, if we plan to keep an extra $300,000 knowing that we have these costs that imminently need to be dealt with, um, we're looking at on last year's rate a 9 cent increase. So, But looking out ahead recognizing that, you know, it's maybe evening out. So yeah, Deb, >> I I just think there's sort of a mental gymnastics going on here of we've collected money from the town. The pe, you know, residents happily or not. I mean, I don't know if that's why you're here, but residents happily gave us money to give it back than to say, but you know, we need it back because we've known about
013these costs. It just seems like a a weird yo-yo. And of course, I didn't go to business school, but I am betting that that's not the best way to run a business or a school district. >> All right. So, I would go for more retainage. So, if you give me a number, I'm happy to do a motion. I give a number. >> Is Tara on? Tara, you want to give a number? Terra, you want to unmute yourself? You're good. >> I know Terara Tara waited on this last last time we met. >> So, hello. What I said, what I what I suggested last time was for us to increase our holdings by $100,000 and decrease the amount that we were providing back to the town by that amount just because of the unscheduled, unbudgeted uh
014repairs that we knew were in existence at the race school that seemed like they were impacting the learning capabilities of the facility. So that's I I'm still sticking with that unless it's part of the discussion that I missed because I joined via Zoom link a little bit late. Um did I did I miss anything? >> No. >> About uh any other suggestions about the financial uh rebalancing? >> No. >> You heard all terms. >> Okay. Excellent. So I I I still feel okay with that based upon a the minimal impact to the to the tax rate which is as of yet undetermined. $100,000 is a small impact and we know we need to spend those funds already. So that's where I am still. >> Okay. >> Yeah. Just want to clarify. I want to make
015sure I'm following on. So is the motion that like we would want to retain 5%. >> So 5% would be 600,000. That might be quite high. >> And so you're saying and the 2% was in the 300s. >> And Terra is saying we're actually going to retain like 1%ish. >> No, she's saying increase. So that 2% increase it by 100,000. >> Ah, okay. Maybe. >> Um, so I it's Yeah. I just am I don't want to say a motion with an amount and then have to fiddle with it and back up. So, are we talking about 400,000 retainage, whatever that percentage is, or 500,000 retainage? >> I'm hearing 400,000. Is that what I'm Is that does that sound right? >> Or is what I understood based on this again not business. >> Okay. But I'm
016following >> Terra has her hand. Terara, >> I think the number that I saw and I don't have it in front of me. Um, based upon >> Oops, we just lost. >> She's still there >> right at the critical moment. >> Based upon [Music] >> Yeah, >> Terry got cut off. If you want to try again. I'm going to amend what I what I I'm going to anticipate what Tara was about to say. I think what Tara's going to say is the 100,000 to the maintenance fund as we were permitted to do, not required to do, but permitted to do by warrant article. Um, and then still the 400,000. So a total of 500,000 I think is what I'm going to hear Tara say. Yeah. >> So the 100,000 is is contractually obligation for the
017um maintenance capital improvement. >> So that one is already taken out of >> the the remaining which was the 1.7. >> Okay. And I'm just I'm struggling because on the sheets that we have in our documents I don't see 1.7 anywhere. No, because when you take the bottom line that says 1.894 435 when you take that number and you subtract the amounts that are above it. >> Oh, >> so each of those amounts up above. >> Yeah. Okay. I see 1.723 here. Now, if if I look at the very bottom number on your unodudited fund balance sheet, >> muscle tear is very attractive. >> Okay. If I look at that very bottom number, I see 394878. Is that an old version? >> Um, go and look. >> Sorry. Just trying to make sure we get
018this number right because it is pretty important. Terra, if you want to go ahead. Sorry, everybody. muted. >> You want to try again? >> You found it. >> Would you like to share with the class? >> It's a gem one, right? But >> but then you go you can see the 1.7 I mean 1.7. >> Yep. I see that. And >> and then over there >> 1.7. Yep. >> See this one? >> Okay. So at the bottom of all that I see the 394878. Yes. >> I don't believe that includes the 100,000 that we're moving into our maintenance reserve fund. So, I think we need to back 100,000 out of that, which leaves us with 294878. >> Oh, and so we need an additional >> Are you on the very first page? >> Yes. >>
019And then if you scroll down to um >> it's only a one page report. >> It's only one >> the handover general fund. Sorry. >> Yeah. >> 2425. >> Pardon me. I approach You guys should be >> Oh, I think we hear you now. >> Maybe >> there. No. You're crouchy, but we hear you. >> Try again. >> Okay, >> we hear you. >> Suggesting I'm suggesting that we retain 194,000 whatever the change was in the document so that we can school and then the balance would be would revert to the town >> that >> yeah or just the final number Tara that you're proposing that we retain the total final number that you propose we retained. Currently, we're looking at >> 294. >> I think it was 494,000. >> Yeah. >> Yep. That's okay.
020Everyone got that? >> Yeah. You all right? Sorry. Thank you for your patience. I think we all got to the same place. Ultimately, moving on to business requiring action. If there's nothing else in discussion, um, so I will take a motion to approve items B through C by consent. I move to approve by consent. >> Second. Uh, Renee, thank you. And we'll do a roll call vote. >> Yes. >> Genie, yes. >> Nelson, yes. >> Russell, yes. >> Tara, >> yes. >> And McConnell, yes. And a brave soul. Who would like to move on the uh retainage amount? I think we can do the percentage afterwards if you give us the dollar amount. Yes. >> Okay. I move to retain funds in the amount of $494,878 as presented. >> Okay. >> Yep. >> Second. >>
021Okay. Uh and take a roll call vote again. Yes. Sullivan, yes. >> Keany, yes. >> Nelson, yes. Russell, yes. >> Tara, >> Veloza, yes. >> And McConnell, yes. And just clarifying, do we need to vote to move that $100,000? >> I want to do that just in case really quickly. So, if someone feels comfortable because I think we did need to vote to do that. >> Okay. I moved I Yeah. >> to move the $100,000 to >> take to put $100,000 into the maintenance fund >> As permitted >> by our warrant. >> Okay. I second that. >> Thank you. >> All very Robert's rules. Okay. Yes. Yes. >> Yes. >> Nelson. Yes. >> Yes. >> Terra. >> Well, those are yes. >> And yes. >> Okay. Final opportunity for the public to address the board.
022Okay. I will take a motion to adjurnn. >> I move to adjourn at 7:17 p.m. Second. Renee. >> Okay. Yes. Sullivan, yes. Nelson, yes. Nelson, yes. Terra >> Bosa, yes. >> And McConnell, yes. Thank you everybody. Thanks for your patience, guys. Sorry. >> We'll need a couple minutes to transfer over then.