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Finance committee hears FY24-25 year-end review; FY26 starting budget set at $247.1 million
Summary
District CFO Linda Asmani told the finance committee that FY24-25 expenditures were roughly $233.4 million with no carryover balance remaining; the FY26 starting point is $247.1 million, reflecting restored positions funded in part by a $1.5 million city transfer while $3 million in state funds remains outstanding.
Norwalk Public Schools officials reported Sept. 10 that the district closed FY24-25 with about $233,401,968 in expenditures — roughly $126,000 below the revised budget — and that the district’s carryover account is fully depleted after using prior-year funds largely for health-insurance expenses.
“We currently have about $74,000 worth of bills, items that we've already bought we just haven't received yet and, therefore, we will be requesting the money to carry over into FY26,” CFO Linda Asmani said during the finance-committee meeting. She also noted roughly $52,000 in severance payments will be paid in the new fiscal year.
Asmani said the FY26 starting budget will be $247,100,000 because the district is building on an amended base that includes reinstated positions funded through a combined local-state allocation. Of the $6.5 million announced earlier, the district reported the city has appropriated $3,500,000 so far; $1,500,000 has been transferred into the general fund and $2,000,000 into the health internal-service fund. The district is awaiting $3,000,000 from the state to complete the allocation.
That amended starting point includes reinstated counselors, coaches, improvement teachers, an art teacher, a dean of students, Montessori paraeducators and other positions that district staff said are necessary to maintain services this coming school year. Asmani said the committee does not need to vote on the year-end review; it was provided for information and will inform the FY27 budgeting process.
The committee asked staff to provide additional detail on one overbudgeted facilities/technology line earlier in the packet and to document transfer line items in future finance materials.
