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Middletown board reviews financial report; approves nine intra‑budget transfers
Summary
The board heard the district financial status — including a $485,035.93 unexpended balance — and approved nine transfers to reallocate funds across schools and programs.
The Middletown Board of Education reviewed the district’s financial position and approved nine budget transfers at its Oct. 14 meeting.
Natalie Forbes, executive director of finance, told the board the district had balanced its books with the city for fiscal 2024–25 and reported an unexpended balance of $485,035.93 as of June 30, 2024 — about 0.48 percent of the total appropriation. Forbes said the board may authorize expenditures from that non‑lapsing balance for educational purposes and that the superintendent will report proposed expenditures to the board before use.
Forbes also presented the October financial statement, which showed a beginning‑of‑year surplus of roughly $900,000 but flagged several lines where the district…
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