Agenda Item
Meeting Date: 6/19/2018 - 6:00 PM
Category: Financial Matters
Type: Action
Subject: Increase the Employee Benefit Accrued Liability Reserve Authorization
Strategic Plan:
Policy:
Enclosure:
File Attachment:
Summary: The BOCES current Employee Benefit Accrued Liability Reserve totals $1,094,465.07. The NYS Comptroller’s Office has allowed this reserve to be funded up to the total value of potential compensated absences for all employees based on existing contracts and agreements. The current value of the BOCES compensated absences is approximately $1,360,000. The purpose of this reserve is to fund compensated absences based on contractual obligations. We are recommending that the Board increase the Employee Benefit Accrued Liability Reserve by up to $140,000.
Funding:
Recommendation: On the recommendation of the Deputy Superintendent and a motion by ___________, seconded by ______________, the Board of Education authorizes the increase of the Employee Benefit Accrued Liability Reserve by up to $140,000.
Approvals:
Recommended By:
Signed By:
Susan A. Schmidt - Deputy Superintendent
Signed By:
Dr. Robert M. Dufour - District Superintendent
Vote Results:

Original Motion
Member Linda Fisk Moved, Member Carol Bliefernich seconded to approve the Original motion 'On the recommendation of the Deputy Superintendent and a motion by ___________, seconded by ______________, the Board of Education authorizes the increase of the Employee Benefit Accrued Liability Reserve by up to $140,000.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 6 Nay: 0.
The motion Carried 6 - 0
   
Carol Park     Yes
Linda Berkowicz     Yes
Ken Hilton     Yes
Linda Fisk     Yes
Carol Bliefernich     Yes
Anne Colman     Yes