Schools

Board Of Education Ends Fiscal 2011 With Surplus

Amount Is 1.5 Percent Of Their $31M Budget

Kevin Kane, the town’s new finance director, informed members of the Board of Education and the superintendent and assistant superintendent of schools that they concluded fiscal year 2010-2011, which ended June 30, with a surplus of funds in the range of $450,000 to $460,000.

The amount represents about 1.5 percent of their $31 million budget for the year.

The reason a surplus occurs in an operating budget, Kane explained, is due to several factors including unanticipated retirements of teachers and staff, and un-used monies devoted to one line item such as health care costs, for example, that changes. The town as well as the schools operated for several months without a finance director when former director Rosemary Hanson took another position in Oxford in November of last year. Kane was officially hired this March.

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Superintendent of Schools Jack Cross prefers to end the year with a zero surplus or deficit.

“As well as we build our budget, we cannot anticipate the teacher who will plan to retire that year,” said Cross.

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The Board of Education tossed around ideas of what to do with the surplus of funds. About half wanted to “return it to the town” or “pay down a debt” with the other half wishing to apply it towards school-related tools for learning and technology.

“What about taking some of this money and reducing our debt?” asked BOE member Phil Williams of the board.

Member Al Mantilia proposed that the funds be returned back to the town and put in reserve.

“We can put it in the following year’s budget and help off-set increases,” he said.

In the end, it was a compromise: $161,000 was approved in a 5-2 vote to be used for technology infrastructure; the remaining balance, about $125,000, is to be returned to the town.  At their previous meeting, the board approved using $174,000 of the surplus for a variety of school-related projects including $8,000 for interactive boards and projections; $4,000 for iPads for special needs students; $14,000 for the Morgan School feasibility study; $31,000 for technology wiring; $65,000 for curriculum implementation; $27,000 for the Pierson School playground; $16,000 for boilers; $7,000 for Power Lunch equipment; and $2,400 for interactive technology services.


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