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Merrimack Valley board hears finance report, discusses $800,000 shortfall and March warrants
Summary
Finance staff reviewed the monthly report showing function-level variances and an available balance; the finance committee said four warrants (operating budget, teacher contract, maintenance and special-education capital reserves) will go to voters in March, and the district now projects roughly an $800,000 shortfall for the year.
District finance staff presented the October finance report and answered board questions about variances, encumbrances and the district'level available balance. The presenter explained the report groups spending by function and highlighted function totals with variances over $2,500; he cited one $4,000 overage for physical therapy services and described how contracted services are tracked under the purchased services line.
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