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Medford School Committee approves $138,431.25 in budget transfers
Summary
The committee approved quarterly budget transfers totaling $138,431.25 to cover overspent line items using surpluses in other lines; the business office and finance director presented details.
The Medford School Committee approved $138,431.25 in budget transfers proposed by the district business office and superintendent.
Noel Velez, director of finance, described the transfers as quarterly adjustments intended to keep accounts within their program codes while covering overspending in some line items with surpluses in others. Velez said the transfers include brief descriptions of each change to help program directors manage year-end spending.
Member Russo moved to approve the transfers; Member Entapa seconded. A roll-call vote recorded six affirmative votes and one absence, and the motion passed.
Committee members had no further questions at the meeting. The transfers were presented as routine fiscal housekeeping ahead of the fiscal year end; Velez said the goal is to keep spending aligned with allocated program lines and to provide transparency to directors on available balances.
