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School finance director outlines FY26 revisions; committee accepts update with $130,000 contingency
Summary
District finance staff reported a $500,000 shortfall in municipal appropriation offset in part by a one-time $608,000 insurance reserve payment and about $100,000 in additional state aid, leaving roughly $130,000 available for targeted needs; the committee accepted the revised FY26 update.
South Kingstown — The school district presented a revised FY26 budget update that reworked revenue and expenditure projections after municipal and state decisions earlier this summer, and the school committee voted to accept the update.
Finance lead Mr. Ferrucci told the committee the town enacted a municipal appropriation $500,000 lower than anticipated in March. Offsetting that shortfall is a one-time $608,000 payment from funds released…
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