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Budget committee reviews reserves, says current gap closed but urges caution
Summary
Port Washington UFSD budget committee reviewed district reserve accounts and recommended keeping reserves largely intact after administrators reported the near-term budget gap is closed; board will revisit priorities and revenue at the next meeting.
The Port Washington Union Free School District budget committee spent Wednesday reviewing designated reserves and the district’s plan to close a projected 2025–26 budget gap, and the administration told the panel the gap is closed under current assumptions while recommending caution about drawing down reserves.
Administrators walked trustees through reserve categories — including employee benefits and accrued liabilities, retirement reserves, unemployment insurance and workers’ compensation — and explained how the district proposes to use modest amounts from several funds in the 2025–26 budget. The presentation noted a $2,800,000 balance in the reserve for employee benefits and accrued liabilities and a planned draw of $100,000; a retirement-related reserve with…
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