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Regional finance committee debates E&D level and special-education stabilization account
Summary
Members of the regional finance committee discussed the closeout of FY18, projections for FY19, the effect of increased state circuit-breaker reimbursement and whether to create a special-education stabilization/revolving account to reduce the need for midyear requests to the towns.
Members of the Regional Finance Committee reviewed a FY18 closeout and spent the bulk of the meeting discussing how much to hold in Excess and Deficiency (E&D) and whether to establish a separate stabilization or revolving account specifically for special-education costs.
The committee was told FY18 closed with a modest general-fund surplus that was rolled into E&D and that roughly $218,000 was being processed for certification. Committee members also heard that roughly $151,000 in maintenance and program costs were charged back to special-revenue/revolving funds rather than the general fund, which contributed to the surplus.
The discussion centered on two practical problems: (1) how large an E&D balance the district should keep for one-time emergencies and ordinary unanticipated expenses, and (2) how to handle highly…
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