Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Surplus topic
No spam. Unsubscribe anytime.
Board moves $575,379 to unexpended account to close fiscal year surplus
Summary
School business office reported a year-end surplus and the board approved moving $575,379 into the district's unexpended account to reserve the funds for future uses; finance staff said the surplus rose slightly after a late reimbursement.
The Cromwell Board of Education voted to move $575,379 into the district’s unexpended account as a year-end surplus transfer, the district’s finance staff reported.
Business office staff explained the number reflects a late August reimbursement related to repair of the high school stage after a sprinkler incident and a software posting issue that had initially omitted the deposit. “The new surplus for the end of the year is $575,379, representing just 1.5% of the budget,” finance staff told the board.
Why it matters: moving the surplus into the unexpended account preserves those funds for district priorities and gives the board flexibility to allocate them later; the track discussion that followed was one immediate use considered for a portion of the unexpended balance.
Details and next steps: Finance staff said the district hired six additional paraprofessionals this fall — an unanticipated cost of about $125,000 — and that the preliminary 2025–26 fiscal review will be on the agenda at the next meeting. The board approved the transfer by voice vote; the motion passed with no recorded opposition.
Taper: Staff said they will present the 2025–26 fiscal outlook at the next regular meeting and will track any additional changes to the unexpended balance as the board considers capital requests.
