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South Portland schools project tighter budget after fund balance falls; finance director urges multi-year planning
Summary
Finance Director Abigail Ketchin told the board the district faces a tighter outlook despite a one-time $815,000 geothermal tax credit; she urged planning for FY27 without relying on depleted savings and flagged rising long-term costs and the need to use grant funds and curb overtime.
Finance Director Abigail Ketchin warned the South Portland School Board on Tuesday that the district must plan for next year without the budget cushion it has leaned on in recent years.
Ketchin presented an end-of-year projection for FY26 that, under “normal circumstances,” would have shown a $337,000 deficit in June. She said a one-time geothermal energy tax credit that is expected to net about $815,000, combined with other adjustments from FY25, has materially improved the picture and could allow the district to finish the year with some fund balance remaining. “That provides relief and it allows…
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