Town Council outlines $5.8M deficit reduction plan and health insurance review process

Coventry RI Public Schools is making strides toward addressing its accumulated deficit, with plans to reduce it by $5.8 million. During the recent School Committee meeting, officials outlined a strategy that involves creating a deficit reduction plan, which will be implemented annually. The plan aims to apply any leftover funds at the end of each fiscal year directly to the deficit, potentially accelerating its reduction if the district performs better than expected financially.

The committee emphasized the importance of collaboration with the Town Council to finalize this plan before submitting it to the state. "Whatever budgets we do, whether it's the one we're in now for '25 or the one that we're working on for '26, must come in on or under budget," a committee member stated, highlighting the commitment to fiscal responsibility.

In addition to financial planning, the meeting addressed the ongoing review of health insurance options for teachers. The current medical and dental plans will remain unchanged, but the prescription drug coverage is under scrutiny. The district is working with CVS Caremark to ensure that the prescription tiers align with those of the existing Blue Cross Blue Shield plan. The outcome of this analysis will determine if any significant changes need to be negotiated with the teachers' union.

As the district moves forward, the focus remains on maintaining budgetary discipline while ensuring that staff benefits are adequately managed. The anticipated outcomes of these discussions will be crucial for the financial health of Coventry RI Public Schools in the coming years.