Darien Board of Education reports $527K surplus in May financial review

The Darien Board of Education's Finance Committee convened on June 19, 2025, to review the May financial report, revealing a projected surplus of $527,013. This figure marks a slight improvement of approximately $6,700 from the previous month, indicating effective financial management within the district.

Key contributors to this surplus include savings from special legal fees, which are under budget by $11,009.80, and salary savings from vacant positions in HVAC and painting, totaling $4,200. However, the district anticipates a shortfall of nearly $9,500 in ELP tuition due to late student reclassifications to Individualized Education Programs (IEPs). Overall, the financial outlook remains positive, with general education and special education revenue collections forecasted to contribute positively to the surplus.

A significant factor in this year's financial health is the additional $40 million allocated by the state for access costs, which is expected to increase reimbursement rates to 72.8%. The district has already received two installments of this funding, with the final share anticipated next week.

During the meeting, committee members discussed the timeline for deciding how to allocate the surplus. They noted that any unspent funds by June 30 would revert back to the town, emphasizing the importance of timely decisions regarding the surplus. The committee also reviewed the process for closing out the fiscal year, which involves reconciling open purchase orders and ensuring all bills are accounted for before the state report deadline in September.

In addition to the financial report, the committee confirmed that the food service program is operating at a net zero for the year, with no new grants to report. The meeting concluded with expressions of gratitude among committee members for their collaborative efforts over the past three years, highlighting the importance of transparency and clarity in managing the district's budget.

As the school year wraps up, the Finance Committee's discussions underscore the district's commitment to responsible financial stewardship, ensuring that resources are effectively utilized to benefit the community and its students.