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Superintendent outlines budget, insurance and capital changes; board told to expect modest savings
Summary
Dr. Lutze and finance staff told the board the district is mid‑pack among peers, that self‑insured claims have driven recent reserve activity, and that the FY‑26 budget request will be trimmed by about $932,819 in capital and an estimated ~$300,000 on the operating side pending insurance renewals.
Superintendent Dr. Lutze gave the Buchanan Board of Education a detailed budget update on March 3, saying district documents shared with the Board of Finance show New Canaan sits near the midpoint among comparable districts and that officials are identifying modest reductions ahead of the FY‑26 budget cycle.
Key points: Dr. Lutze said a 10‑year lookback shows the district typically turns back some unspent operating funds at year end; a recent high of about $2,078,000 returned to the town reflected pandemic‑era savings. For the current fiscal year to January, the district’s operating‑fund expense actual was $55,300,000, or 50.6% of a $109,000,000 full‑year budget, Mr. Sean O’Keefe reported.
Insurance and reserves: Dr. Lutze…
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