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Board authorizes transfers up to $2 million to capital reserve, approves contracts and insurance renewals
Summary
On June 14 the Rumson‑Fair Haven Regional High School Board authorized year‑end transfers into reserve accounts (up to $2,000,000 to capital and $500,000 to maintenance), approved several vendor contracts and renewed insurance policies totaling $388,717 for 2022‑23.
The Rumson‑Fair Haven Regional High School Board of Education on June 14 authorized the district’s business administrator to transfer anticipated surplus into reserve accounts at year end, approving amounts not to exceed $2,000,000 to a Capital Reserve and $500,000 to a Maintenance Reserve under the authority of N.J.S.A. 18A:21‑2 and N.J.S.A. 18A:7G‑13.
The board also approved an extensive set of professional service contracts effective July 1, 2022, including appointment of a board attorney (Sciarrillo, Cornell, Merlino, McKeever & Osborne, LLC), architect of record (Spiezle Architectural Group), bond counsel (McManimon, Scotland & Baumann), financial advisor (Acacia Financial Group) and auditor Holman, Frenia & Allison, P.C. (audit fee listed at $29,600). The board approved continuation of insurance broker services with Whitboy/Alliant Boynton and health benefit advisory services with Brown & Brown Benefit Advisors for a one‑year term.
Finance items reported on the bill list included General Fund expenditures of $297,839.46, Special Services $16,188.87, Capital Projects $4,635.88 and Food Services $119,063.33. Payroll entries for May/June brought the meeting’s total expenditures to $1,188,735.54 as presented.
Board action also included approval of a Title I‑A tutoring services contract with Huntington Learning Center (Math and ELA, July 5–Aug. 15, 2022) at a cost of $8,640, authorization to submit a New Jersey Schools Insurance Group safety grant application for $13,771, acceptance of the NJDOE Statement of Assurance for lead water testing completed in July 2021, and approval of a contract with Monmouth University to provide graduation facilities/services at an estimated cost of $20,000.
The board recommended renewal of 2022‑23 insurance policies through the New Jersey Schools Insurance Group/MOCSIF with premium breakdowns listed in the minutes (package $140,799; errors & omissions $44,666; workers’ compensation $95,852; excess workers’ compensation $3,865; student accident $103,535; total $388,717). Finance items 51–65 were approved on a roll‑call motion; Mrs. Halcrow recorded an abstention on item #55, with the remainder of votes recorded as Yes.
These fiscal actions allow district administrators to complete year‑end accounting moves and finalize contracts and services for the upcoming school year.
