Acton-Boxborough committee adopts FY26 budget amendment, transfers $2.1M to capital and approves Boardwalk bond

The Acton-Boxborough Regional School Committee on June 12 approved a series of financial actions including an amended fiscal year 2026 budget of $117,029,054, a $2,100,000 transfer from excess and deficiency to the capital improvement revolving fund, and a final long-term borrowing of $3,530,000 to retire a previously issued $5,000,000 bond anticipation note for the Boardwalk Campus.

Why it matters: the budget amendment restores student-facing positions funded by additional Chapter 70 aid while lowering member-town assessments, the transfer preserves the district’s excess-and-deficiency (E&D) limit, and the bonding completes financing for the Boardwalk project.

Sherry, a district staff member who briefed the committee, said the district received an IRS tax rebate check of $2,900,000 and recommended moving $2,100,000 into the capital CIP revolving fund to avoid exceeding the statutory 5% limit on E&D balances. "We received a check from the IRS tax rebate for $2,900,000 and in an effort to not go over the 5% ... we are asking the committee to move $2,100,000 into the capital CIP revolving fund," Sherry said.

On the FY26 budget amendment, the committee voted to adopt an amended district budget of $117,029,054 for the period 07/01/2025–06/30/2026. The motion, moved by Liz and seconded by Tory, included estimated receipts and reductions (listed in the motion) such as anticipated Chapter 70 state aid of $17,200,971 and state transportation aid of $2,000,610. Sherry explained the district’s additional state funding of $387,890 would yield a net recurring increase of $237,890 after returning $150,000 to the member towns. The committee and administration emphasized the positions restored are funded with recurring Chapter 70 dollars, not one-time funds.

The committee also approved final long-term borrowing to convert the remaining temporary financing for the Boardwalk Campus into a 10-year general obligation bond. Sherry reported seven bids were received and the low bid came from Fidelity Capital Markets at roughly 3.29% for a 10-year term; the committee approved issuing $3,530,000 of long-term debt to pay off the earlier $5,000,000 BAN. Leila moved the bond authorization; Tory seconded. The vote passed with one abstention from Lakshmi.

The committee unanimously approved creation of a health insurance stabilization account. Sherry said the health insurance trust issued a check for $619,600 that would otherwise roll into E&D and that the stabilization account will be used, once certified, to cover possible higher-than-budgeted employee enrollment in benefits. "We have already gone to the select board... both Acton and Boxborough approved the making of this and now we need the school committee to approve the creation of a health insurance stabilization fund," Sherry said.

The committee accepted a memorandum of agreement with the Acton Boxborough Education Association related to new duties for high school teachers; Andrew, a district staff member, said the agreement focuses on time adjustments and other measures to balance added duties starting next school year. "We discussed some ideas to mitigate some of the additional elements of their role...and as a result of that, came to an agreement around some other features of their school day and their work responsibilities," Andrew said.

The consent agenda — which included donations and other routine items — was approved after one set of minutes was held for clarification. The committee also heard a brief FYI that the Boardwalk Campus achieved CHIP certification (a collaborative high-performing schools standard) after policies and procedures were instituted during the project.

Votes at a glance

- Adopt Vision of a Graduate: moved by Liz, seconded by Tory; outcome: unanimous (see separate article for text and discussion).

- Transfer $2,100,000 from E&D to Capital CIP Revolving Fund: motion moved by Tory; outcome: unanimous.

- FY26 budget amendment (adopted amount $117,029,054 with detailed offsets and assessments): moved by Liz, seconded by Tory; outcome: passed (vote met two-thirds requirement; roll-call not provided in packet).

- Issue $3,530,000 general obligation bond to retire $5,000,000 BAN for Boardwalk Campus: moved by Leila, seconded by Tory; outcome: approved with one abstention (Lakshmi).

- Create health insurance stabilization account: moved by Liz; outcome: unanimous.

- Approve memorandum of agreement with Acton Boxborough Education Association: moved by Liz, seconded by Tory; outcome: unanimous.

What the committee said and next steps

Committee members and staff emphasized that restored positions are funded with recurring state Chapter 70 aid, not one-time dollars, and thanked the facilities and finance teams for grant and bond work. The district will proceed with the bond issuance and set up the stabilization account once required certifications are complete.