Business administrator to depart; board discusses interim hire, year‑end reserves and vendor cap increase

The Leonia Board of Education received financial year‑end briefings and approved multiple routine financial resolutions at its June 17 meeting, and members discussed an interim business administrator contract and related costs.

Business administrator departure and interim appointment: The board acknowledged that Business Administrator Eric (last name on record as the board's business administrator) is leaving the district; Eric delivered a final administrator’s report and said he will remain available to the district. Acting Superintendent Dr. Karamanos said Dr. Dennis Fournapol (spelling varies in the record) is present in the audience and is on the agenda to be approved as the interim business administrator for the coming school year. Dr. Karamanos said the district performed a cost analysis comparing the interim contract to Eric’s compensation and noted that Fournapol’s contract does not include benefits; he said the analysis found only a “slight difference” in overall cost.

Contract terms and termination: Dr. Karamanos said the interim contract includes a 30‑day termination clause. In public comment, a resident questioned whether the district would pay the interim administrator beyond that clause if a permanent hire were found; Dr. Karamanos said the 30‑day clause would apply and that Fournapol had indicated willingness to help onboard a permanent replacement.

Year‑end surplus and reserve transfers: Eric, speaking as the board secretary/business administrator in his final presentation, explained that year‑end “not to exceed” resolutions are written to comply with statute and to give the administration and finance committee flexibility through June 30 to determine final transfers into reserves. He told the board that the district estimated capital and maintenance reserve balances of roughly $1,500,000 each at year‑end, and an estimated tuition reserve of about $340,000; the district also planned to maintain an unassigned fund balance at the statutory maximum ($971,000 stated on the record). Eric said the board has historically used excess surplus to provide roughly $550,000 annually in tax relief.

Facsimile/electronic signatures and controls: Eric explained that facsimile signatures referenced on agenda documents are electronic outputs printed by the district’s accounting system and that checks are produced only after required internal controls and the required authorized signatures have been obtained.

Cooperative vendor cap increase and approvals: The board approved a resolution to increase a cooperative vendor “not to exceed” cap by $17,000 — raising the cap from $100,000 to $117,000 — primarily for custodial and maintenance supplies, to align projected expenditures with compliance. The consent agenda and new business items that included these financial measures passed on roll call votes later in the meeting.

Ending: The board thanked Eric for his service. The board scheduled further committee work on finance when the new school year begins and moved to executive session later in the meeting to address personnel and litigation matters.