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Wakefield school finance update: district at midyear, payroll warrants approved
Summary
At its Jan. 7 meeting the Wakefield School Committee reviewed the financial report through Dec. 31, 2024, heard that roughly 6.34% of the operating budget remained after encumbrances, was told about planned transfers and expected circuit-breaker payments, and approved payroll warrants.
The Wakefield School Committee on Jan. 7 received the district's financial report through Dec. 31, 2024, and approved payroll warrants covering December payrolls.
"We're actually at the halfway mark, if you can believe it, of fiscal 25. With all the encumbrances, we have about 6.34% remaining," said Miss Pekayla, the finance staff member who presented the report. She told the committee some line items are over budget but that year‑end transfers will be made to present a correct available balance.
Pekayla said grant spending continues and cannot be returned to the state, and that the district will make transfers from revolving accounts "to the tune of $325,000" as it closes the fiscal year. She also said the district expects to receive two additional circuit‑breaker payments, "We'll receive about 1,500,000," which the district plans to use for out‑of‑district tuition and to carry into next year.
Committee member Kevin asked about contracted services, noting that contracting has grown to meet needs that the district cannot fill with staff. Pekayla said contracted services are driven by IEPs and that the district will "always look to hire FTEs" where possible because permanent staff are generally more cost effective.
The committee approved the payroll warrants after a motion. "Move that the school committee approve payroll warrants number 24 and number 20 6 as presented," the motion read; it was seconded and the committee voted in favor.
The committee also approved the Student Services subcommittee minutes for Dec. 16, 2024, as part of the consent agenda.
No vote tallies were recorded on the transcript; the meeting record indicates the motions passed without objection.
