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District projects modest year‑end surplus; business official recommends treating unexpected LIPA payment as deferred revenue
Summary
Manhasset business official reported a projected $1.46 million expense surplus for 2024–25, recommended placing an unexpected roughly $421,000 LIPA payment in deferred revenue pending confirmation, and the board authorized year‑end reserve transfers to capital and TRS accounts subject to final audit.
The Manhasset Union Free School District reported preliminary 2024–25 year‑end finances showing an anticipated expense underrun of about $1,465,000 and a projected total fund-balance contribution of roughly $1.2 million after planned transfers. Sam (district staff) presented the figures and recommended treating an unexpected roughly $421,000 payment from LIPA (Long Island Power Authority) as deferred revenue until the payment is confirmed.
Sam said the district’s total projected fund balance at May 31 would be just under $1,470,000 before the…
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