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Business manager reports roughly $448,000 surplus as federal OCR hold and reimbursement swings create uncertainty
Summary
District financial staff reported a preliminary fiscal-year surplus of about $448,000 but warned that a federal OCR matter and changing state reimbursement estimates mean the final number is not yet firm.
The Cromwell Board of Education heard that the district is closing the fiscal year with a preliminary surplus and that uncertainty tied to a federal Office for Civil Rights (OCR) matter and volatile reimbursement estimates makes final budgeting provisional.
At the meeting, the business manager reported a current surplus of about $448,000 as the district proceeds to close outstanding purchase orders. He said that…
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