Finance committee recommends budget transfers
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The Finance & Audit Committee reviewed $88,797.25 in budget transfers and indicated it would recommend approval. The transfers would rebalance budget lines and address grant-related adjustments, higher utility costs, and additional laptop and custodial supply expenses.
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What this means
The committee also reported that the first of two state grant payments for special education reimbursement had been received, improving the year-to-date budget position. Members warned that special education costs could exceed the grant and said the issue should be monitored closely. The superintendent will discuss the budget year and bonding policy with the Town Manager.
Key decisions
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- Reviewed $88,797.25 in budget transfers and indicated a recommendation for approval.
- Reported receipt of the first of two state grant payments for special education reimbursement.
- Identified the possibility that special education expenses could exceed the state grant and agreed the issue requires close monitoring.
- Directed the superintendent to discuss the budget year and bonding policy with the Town Manager.
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