2007 Town Warrant 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 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.
Copyright 2007 Town of Pelham, 6 Village Green, Pelham NH 03076. Selectmen's Office 603-635-8233
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