Article 13

Shall the Town vote to raise and appropriate the sum of $100,000 to be placed in the Compensated Absence Trust Fund for the purpose of disbursing accrued time (annual vacation and sick leave) to terminating employees as required by law and/or negotiated contracts? The fund is currently depleted. $70,000 of this amount would meet projected current growth in the liability, and $30,000 would accrue toward the present unfunded liability of $583,873. (Recommended by Selectmen) (Recommended by Budget Committee) (Majority Vote Required)

Status

Originator: Board of Selectmen
Board of Selectmen: 5-0-0 Recommended
Budget Committee: 11-0-0 Recommended

Voter's Guide Explanation

Employees accumulate vacation and personal time, and they are allowed by contract to carry a portion over from year to year. When the employee terminates employment or retires, local contracts and state law require balances to be paid in a lump sum. Although the amount is limited per employee, the total when considering all 67 full-time employees is substantial. The town funds this liability annually and needs to replenish the fund balance due to a series of retirements and employee turnover.

Backup Data

Employees accumulate vacation time, and they are allowed by contract to carry a portion over from year to year. When the employee terminates employment or retires, local contracts and state law require balances to be paid in a lump sum. Although the amount is limited per employee, the total when considering all 67 full-time employees is substantial. The town funds this liability annually and needs to replenish the fund balance due to a series of retirements and employee turnover.

Additional Information

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