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Coventry officials report more than $1 million preliminary surplus for FY25; committee adopts 5‑year projection
Summary
School finance staff reported a preliminary FY25 surplus in excess of $1 million and the committee voted 6–0 to adopt a revised five‑year budget projection (version 1.1) that uses the updated results and assumes the negotiated teacher contract is ratified by the town council.
Coventry School Committee members voted unanimously to adopt a revised five‑year budget projection after hearing updated fiscal‑year‑end numbers that show a larger‑than‑anticipated surplus for FY25.
Business official Chris Diverna presented preliminary FY25 closing figures showing roughly $81.7 million in revenues and about $80.4 million in expenditures and said the district currently expects to report a surplus in excess of $1 million that can be applied to reduce the district’s accumulated deficit. Diverna told the committee he had built a roughly $333,000 contingency reserve into the projection to cover any…
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