Finance committee asks select board to reserve $1 million from FY25 to preserve flexibility

The Milton Finance Committee asked the town Select Board to move $1 million from the school department’s FY2025 funds into a town reserve account to preserve flexibility while the district finalizes its year-end budget shortfall.

The request, described during the committee’s morning meeting, is intended “to provide as much flexibility” as the district finalizes the FY25 deficit and determines whether other committees need to approve transfers, the committee chair said. Committee members said they will do everything possible to reduce any shortfall below the requested amount.

Why it matters: Moving the money to a town reserve account would allow the school department to request funds later in the fiscal year if the final deficit is larger than presently expected. Committee members said they do not plan to spend the reserve immediately but want to preserve the option to draw on it if necessary.

Details and next steps: Committee members said the district shared its presentation and supporting materials with Nick Milano of the Select Board; Milano and the Select Board are scheduled to discuss the request at their next meeting. Committee members Lizzie (committee member) and the chair said they will attend the Select Board meeting to answer questions but that no formal presentation to the Select Board is planned at this time.

The committee framed the transfer as a temporary flexibility mechanism. The chair said the school committee could return later to request funds from the reserve account if needed. Committee members emphasized they will pursue measures to lower the year‑end deficit and return unused funds if the full $1 million is not required.

The committee did not take a formal vote during the discussion to move the funds; instead, members described the steps they have taken to share information with the Select Board and said they will attend that meeting to respond to questions.