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Wakefield schools report $28,362 remaining at close of fiscal 2025; July spending low as fiscal 2026 begins
Summary
School business office reported a $28,362 unspent balance for fiscal 2025, encumbrances remaining from late-year orders, and low July activity as the district opened fiscal 2026.
Wakefield School Committee — The Wakefield school business office told the School Committee on Aug. 12 that the district closed fiscal year 2025 with $28,362 unspent and carried encumbrances into the new fiscal year.
The business office said the $28,362 remained after all payrolls for fiscal 2025 were processed, and that roughly $190,000 of encumbrances from late‑year orders remain on the books for FY25. The office also reported roughly $150,000 in encumbrances in the district’s revolving accounts and noted that circuit breaker funds remain included in the district’s reported $4,600,000 balance.
The notification matters because, as the business office reminded the committee, any grant funds not spent in the grant year must be returned to the state or federal source. The office said all FY25 grants were spent.
Turning to the first month of fiscal 2026, committee members were told that July has the least routine financial activity: the district paid year‑round salaries, summer school costs and encumbered utilities. The report to the committee said July spending included “just about a million dollars encumbering utilities for the year” and “just over $500,000 worth of payroll” for that month. The business office added that many summer encumbrances will be finalized once schools start and payrolls are fully set for the year.
The committee approved payroll warrants 5052A, 5052B, 2 and 4 as presented; the motion carried unanimously. Earlier, the committee approved minutes from the July 8 meeting with a recorded vote of 4 in favor, 0 opposed and 1 abstention.
Committee members asked whether the town had closed its books; the business office said the town had not yet closed FY25 and that the school department had completed its payrolls and orders.
The business office told the committee it expects final entitlement grant amounts from the state by October and is budgeting conservatively in case federal or state allocations are reduced.
The school committee will receive further budget materials and is monitoring encumbrances and grant timing as the district moves into fiscal 2026.
