2006 Town Warrant Article 11

Shall the Town vote to raise and appropriate the sum of $125,000.00 to be placed in the compensated absence fund for the purpose of disbursing accrued earned time (annual vacation and sick leave) to terminating employees as required by law and/or negotiated contracts?  The balance of the fund is currently $11,873.28.  The total current liability is approximately $636,979.36. (Recommended by Selectmen) (Recommended by Budget Committee)

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 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 requires balances 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.