The board has not decided on a specific location for the Oct. 28, 2015 meeting, but Town Manager Fred Ventresco says the board is trying to hold the meeting at the Limestone Community School Auditorium.
“We’re discussing putting a warrant together,” said Ventresco. “Some of it is going to be to determine the town’s use of the refunded retirement money. We’re currently working on putting articles together for things we think we could use the money for, and also planning on asking the town to clarify some older reserve accounts. It is difficult to determine the purpose for these accounts, so we’re trying to clarify the ones we are still researching.”
The refunded money is a result of surplus retirement funds brought in the public system when it was consolidated by the Legislature in 1993. Though public offices had the opportunity to take this money back at any time, a change in reporting requirement from the Governmental Accounting Standards Board required the MPERS to give back the funds.
According to agency, the town of Limestone received $624,291 in retirement reimbursement while the city of Caribou received $3,441,152. Eastern Aroostook RSU No. 39, which includes Limestone, Caribou, and Stockholm schools, received $183,613.
“This refund came at a good time where we can use it for other things,” said Ventresco. “We should have a warrant ready about two weeks before the meeting, probably the week of the 14th.”
Other issues discussed during last week’s special board of selectpeople and assessors meeting include bids for heating oil and a shed roof in need of repair at Albert Michaud Park.
The board decided to not lock in any fuel prices and to continue going with rack pricing and voted to go with Pac. Construction’s bid of $2,790 for the roofing project.
