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School finance update: Duxbury reports Q2 budget on track and approves $250,000 transfer to special‑education reserve
Summary
Director of Business Finance reported FY25 spending and encumbrances; the committee approved a $250,000 transfer from the operating budget into the special‑education reserve fund to address special‑education transportation overruns and to comply with reserve caps.
Lisa, the district’s director of business finance, gave the committee a fiscal update through Dec. 31, 2024, saying the district’s FY25 operating budget approved at the March 2024 town meeting totals $43,250,000 and that the district had spent or encumbered roughly 38.4% of the total budget at the end of the second quarter.
Lisa said salaries are manually tracked and currently about 96.3% of the salary budget is committed through payroll projections and encumbrances. Goods and services spending and encumbrances were reported and the presentation noted close monitoring of…
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