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Board discusses budget closeout, transportation encumbrances and medical benefits reserves
Summary
Finance staff told the Cheshire Board of Education they expect to close the 2024–25 year with a $250,000 surplus carryover while managing late-June encumbrances; medical benefit claims showed a spike in April but stop-loss reimbursements are expected to raise reserves.
District finance staff told the Cheshire Board of Education they expect to close the 2024–25 fiscal year with a planned $250,000 surplus to carry into next year while managing a substantial set of late-year purchase requests and payrolls.
Finance director Marciani (staff) said the district’s approved 2024–25 budget is $89,542,006 and that through May 30 the district had expended and encumbered most of the budget. He told the board there are roughly $876,000 in pending requests from principals and maintenance that staff will attempt to…
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