MINUTES

In attendance: Jaimey Caron, Marnie Morrione, Bijou Umuhoza, Peter Eglinton,

Herb Hopkins, Jim Morse and Kate Snyder

1. Retirement Incentive Options (Kathleen Casasa, Gary Vines)

· The Finance Committee was in consensus to direct the Superintendent to

move toward the proposed $20,000 retirement incentive option as well as to

develop a more thorough analysis of the possible impact of such action for

presentation to the full School Committee in executive session.

- Use a range for salary instead of an estimated average to develop the

possible savings to the district. Savings analysis should reflect salary

and benefits.

- Develop the analysis to include possible savings and expenditure

scenarios based on 10-20-30 retirees (option-takers).

- Provide last year’s retirement incentive actuals: Number of employees

who exercised the option, their individual and aggregate salary and

benefits.

- Immediate versus longer range savings – versus costs.

- Check with attorneys on protocol for changing and re-offering the

incentive scheduled to expire January 15^th.

- Compose DRAFT letter with retirement offer and parameters and set

deadline for Friday, January 29th.

2. Adjournment

The Finance Committee adjourned at 7:05 pm.