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Board committee reviews budget projections; approves motion to transfer unencumbered balance into 2% nonlapsing fund
Summary
The Wallingford Board of Education operations committee on Monday reviewed the district’s April financial projection and approved a motion authorizing the board to transfer this year’s unencumbered fund balance into the district’s 2% nonlapsing fund under Section 10-248a of the General Statutes.
The Wallingford Board of Education operations committee on Monday reviewed the district’s April financial projection and approved a motion authorizing the board to transfer this year’s unencumbered fund balance into the district’s 2% nonlapsing fund under Section 10-248a of the General Statutes.
Finance staff reported a projected general fund surplus of about $370,000 for the year, a net decrease of roughly $14,000 from the prior month. The finance presentation highlighted account movements: a roughly $15,000 increase in the special education deficit offset by a projected $445,000 excess-cost grant surplus, a transportation increase of about $45,000 tied to run…
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