Cabot School Board approves $88 million 2024–25 budget as trustees warn of tight margins

The Cabot School Board approved the 2024–25 operating budget on a voice vote after administrators outlined tight revenue conditions and cost pressures.

Miss Riley, who presented the budget, said the district "started with $88,000,000" as the baseline and noted that staffing and debt service account for the majority of spending. She explained the district is budgeting conservatively because average daily membership (ADM) fell and state foundation funding produced only a modest per‑student increase. "We have a budgeted transfer of a million 4 in this," Miss Riley said, describing a planned transfer from the building fund to the operating fund to make the numbers balance.

The board heard several details about revenue drivers and constraints: a roughly 1.28% assessed tax‑base increase in the district, a $450,000 net increase in state foundation funding offset by drops in other state aid, and declines in multiple federal categorical funds. Administrators reported refinanced debt service added to expenditures and described a careful approach to hiring and purchase approvals to preserve fund balance.

Board members pressed administration on contingency plans and long‑term revenue prospects. Trustees noted the district had cut substitute costs and identified utility savings in the prior year but warned the combination of small state funding increases and higher costs (insurance, bus prices) leaves little flexibility. One trustee summarized the position: district leaders said they are "revenue neutral in this area" and must micromanage spending to avoid shortfalls.

The motion to approve the 2024–25 operating budget — offered and seconded during the meeting — passed by voice vote; no roll‑call tally was provided in the public record.