School committee approves payrolls as finance staff warns of tight year-end budget
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Summary
The Tewksbury School Committee approved two payroll runs and other routine items while district finance staff warned the fiscal year will close with limited reserves after larger-than-expected retiree sick‑leave buybacks and special‑education costs.
School Committee members voted unanimously to certify two payrolls at their meeting, even as district finance staff said the 2024–25 fiscal year is likely to close with only a narrow positive balance once outstanding obligations and retiree buybacks are posted.
The committee approved payroll for the period ending May 22, 2025, totaling $1,687,637.70, and payroll for the period ending June 5, 2025, totaling $1,689,658.88. Both motions were moved and seconded on the record and carried by unanimous voice vote.
The vote came amid a budget update from assistant superintendent/business official Jason Libby, who outlined areas of pressure in transportation and special education and said the district carried about $65,000 in a sick‑leave buyback line for most of the year but expects that amount to be substantially higher because of a late increase in retirements. Libby said projected non‑encumbered expenses and journal entries total roughly $500,000; anticipated relief through Circuit Breaker and other adjustments was estimated at about $451,000. With $93,000 currently available, his scenarios showed a modest positive balance — roughly $26,209 — if all projected adjustments hold.
Libby told the committee that the district will continue to process budget transfers and expects to present a final closeout once remaining invoices and payrolls are posted. He also said fiscal 2026 is open and purchase orders are being issued for anticipated items such as technology subscriptions and hardware.
Committee members asked about timing for a final fiscal‑year accounting; Libby said the district can keep FY25 books open through July to allow for late invoices and will provide a final FY25 update at the August meeting.
Ending: The committee carried routine business while instructing staff to continue monitoring encumbrances and to return with a final FY25 closeout. The meeting also moved into executive session later in the agenda for bargaining matters and adjourned from that closed session.