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District reports FY24 net school spending surplus; projects this year may exceed target due to benefit costs
2470961 · March 2, 2025
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Summary
School business officials told the committee that Lynn exceeded the FY24 net school spending requirement by roughly $1.2 million and that FY25 projections may again run over the requirement because of higher-than-expected health insurance and pension costs.
Kevin McHugh, the district's school business administrator, briefed the committee on a Feb. 10 letter from the Department of Elementary and Secondary Education (DESE) outlining Lynn's net school spending (NSS) status.
McHugh said Lynn was "over net school spending by like $1,200,000" in FY24, which he…
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