Town of Otis
Select Board/Finance Board/School meeting
for Stabilization Fund discussion
April 25, 2016
Present: Selectman Donald Hawley, Selectman Bill Hiller, Michael Ernst, Jane Gleason, Terry Gould, Jo Ann Austin
The Farmington River Regional School District is proposing adding a line item to the school budget as a Stabilization Fund for the purpose of having money for repairs to the building as the building is almost twenty years old. This is proposed as a new line item in the school budget and passing this does not commit additional money to the school. Don Hawley also mentioned that the school bond is almost paid off and he proposed setting up the Stabilization Fund as a separate budget for when the school bond ceases to exist. However, we do need to discuss this with Sandisfield before anything can be implemented.
There was also a lot of discussion as to who made up the District and what happens if the District is disbanded. Essentially, if the School District disbands, both Otis and Sandisfield will owe the Commonwealth millions of dollars in penalty fees. The School representatives also said their future building needs were vetted by the companies currently maintaining the building and the needs list is based upon what they feel are potential problems in the near future.
Bill Hiller made the motion to vote to establish the Stabilization Fund, Don Hawley seconded, and the vote was unanimously passed. But the manner this is implemented in still needs to be discussed and agreed to with Sandisfield.
The meeting was adjourned at 6:29 pm.
Town of Otis
List of Documents
A copy of the proposal from the school and a copy of the email chain will be filed with these meeting minutes.
A copy of MGL Chapter 71 Section 16G ½ will be filed with these email minutes.