Committee approves $700,000 transfer from excess and deficiency to capital stabilization

The Dennis-Yarmouth Regional School Committee approved a $700,000 transfer from the district's excess and deficiency (E&D) account into capital stabilization on April 7.

Superintendent Dr. Smith said the funds are unanticipated revenue — roughly $702,107 — coming from higher-than-expected Medicaid reimbursements and stronger interest income on district investments. "By moving it into that account, we're able to earn better interest than it just sitting in our checking account," Dr. Smith said, explaining the rationale.

Dr. Smith told the committee that when the final budget was voted on March 4 the district had certified E&D just over $3 million, had previously committed $250,000 to the operating budget and $416,150 to debt, leaving a remaining E&D balance "just under $2.6 million." The $700,000 transfer brings additional resources into the capital stabilization fund to support the district's 5-to-10-year capital planning, including design work to make projects shovel-ready.

Committee member Miss Martin made the motion to transfer the funds; a second was recorded but not named in the public transcript. Members discussed timing with the two towns and noted that moving the funds at a meeting when town warrant articles are pending avoids the need for a special town meeting. Miss Venus asked whether the amount was intended as a starting point; Dr. Smith said the figure reflects unanticipated revenue and keeps E&D at a level similar to the prior year while the district develops a formal capital plan.

The motion passed by voice vote; no roll-call tally was recorded in the transcript.