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CFO reports $1.6 million capital plan to RIDE; committee told of $250,000 maintenance shortfall
Summary
Interim CFO David Ferrucci told the committee the district will report roughly $1.6 million in capital expenditures to the Rhode Island Department of Education, including a previously authorized $400,000 driveway project; bid results trimmed some costs but the district missed the 3% maintenance-of-effort target for 2025 by about $250,000.
Interim CFO David Ferrucci gave the committee a capital-budget update tied to the Form 100 submission to the Rhode Island Department of Education (RIDE), saying the district will report roughly $1,600,000 in planned capital expenditures for the coming school year.
Ferrucci said the total includes a $400,000 driveway project that the school committee previously authorized but which did not start until July. He told the committee that early bid results produced…
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