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Barnstable committee receives Q3 budget update; approves $103.1 million warrant
Summary
The school committee received a third-quarter budget update indicating a stable operating position and approved accounts payable warrant number 44 totaling $103,103,150.85; officials noted the athletic revolving fund showed a temporary deficit due to encumbered transportation costs.
Barnstable School Committee members received the district's third-quarter budget update May 7 and approved accounts payable warrant number 44 for $103,103,150.85.
Chris, the finance presenter, told the committee the district is in a good operating position heading into the fiscal-year close and does not currently anticipate needing a supplemental appropriation. "Overall, we're in a good financial position heading into the end of the year," he said.
The finance report included three documents: the operating budget detail, revolving fund summary and capital appropriations. Chris pointed out that the athletic revolving fund showed a deficit balance through March, explained as timing and encumbrances: transportation costs are often encumbered early in the year while revenues continue to be collected. He said the district expects the account to close in a positive position after final receipts.
Action taken: The committee approved the accounts payable warrant (warrant 44) by voice vote. The warrant amount recorded in the meeting materials was $103,103,150.85.
Next steps: Finance staff will continue to monitor year-end encumbrances, finalize capital project closeouts and present an end-of-year wrap-up in July or early August.
