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Committee updates policy language for 2% non‑lapsing education fund
Summary
The committee updated policy 3171 to reflect legislation allowing the Board of Education to place unexpended funds into a 2% non‑lapsing education account; Dominic will calculate final FY balances after June 30 and present amounts to the board.
The policy committee reviewed updates to policy 3171 governing the non‑lapsing education fund (the "2% account") and agreed the draft language should reflect recent legislative changes that authorize the Board of Education to deposit unexpended funds up to 2% without requiring town finance board approval in future fiscal years.
Latour explained the change: "This is the…
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