East Kingston Board Reviews FY25 Year-end Finances; Sign Purchase Would Need June 30 Commitment to Hit FY25

District finance staff told the East Kingston School Board June 9 that the fiscal year is not closed and that the projected return to taxpayers is about $25,000, contingent on final expenses and revenues through June 30.

Why it matters: the board heard the year-end position can change as invoices and encumbrances are finalized. Staff stressed that the adjusted appropriation remaining in the general fund is a tight number — cited in the meeting as about $9,004,401 — and that the board must avoid overspending its appropriation.

Sign purchase timing: the board discussed whether the cost of a new school sign could be charged to FY25. Finance staff explained that for an expense to count in FY25 it must be encumbered with a purchase order and vendor commitment executed before June 30, even if installation occurs over the summer. If the board does not authorize and open a purchase order before July 1, the expense would fall in FY26.

Encumbrances and closing: staff explained common year-end practice of encumbering purchase orders for anticipated expenses (for example utilities or instructional materials) and then relieving encumbrances as actual costs arrive. Schools were given guidance to submit purchase orders before April 24 for end-of-year needs; most routine orders were reported as already placed.

Board direction and constraints: board members were reminded of a prior board motion allowing drawdown on a trust if needed, but finance staff said the district does not intend to use the trust except as a last resort because the appropriation cannot be exceeded. The board did not take a formal vote on the sign at this meeting; the sign remains on the multi-year capital project list.

Ending: administrators said they will finalize DOE-25 year-end reporting and send the year-end manifest and documentation to the auditors in the fall.