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Finance committee reviews FY25 Q3 projections and flags uncertainty over state ‘circuit breaker’ funding
Summary
Milton finance members reviewed third-quarter FY25 projections, discussed payroll timing and stipend payments that affect year‑end numbers, and warned that state circuit‑breaker funding remains uncertain and could affect a projected shortfall.
The Milton Finance Committee reviewed the district's FY25 quarter‑three financial projections and emphasized the need for close monitoring because several end‑of‑year payroll cycles and an uncertain state supplemental payment — the circuit‑breaker funding — could materially change the district's year‑end balance.
Finance Committee member / staff presenter said the largest near‑term variable is salary costs, particularly stipends that post in the May payroll cycle and a June lump‑sum payment for employees on a 26‑pay schedule. The…
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