Council schedules public hearings for $757,000 school assessment and approves first reading to transfer $400,000 to capital reserves

At the Oct. 27 meeting the Laconia City Council conducted first readings and scheduled public hearings for two school-related fiscal measures: a supplemental appropriation to cover a special insurance assessment and a request from the Laconia School Board to move $400,000 of FY25 fund balance into capital reserve accounts.

Diane Clary, the school district—s business administrator, described the insurance assessment as part of SchoolCare—s effort to restore reserves after claims in fiscal 2024-25 outpaced revenue. Clary said the pool faced a $30 million reserve shortfall; Laconia—s share, at 2.9%, amounted to about $874,000. The city resolution (Resolution 2025-33) would authorize a supplemental appropriation of $757,000 from unencumbered fund balance; Clary said the district plans to use existing fund balance to offset the assessment and that the resolution requires a public hearing before adoption.

Councilors moved the waiver of reading and then voted to conduct the first reading of Resolution 2025-33; the council also set a public hearing for Nov. 10, 2025. All procedural motions related to the resolution passed 6-0.

Separately, the council took first reading of Resolution 2025-34 at the school board—s request to transfer $400,000 of FY25 fund balance to capital reserve funds (including a pledge to add $100,000 annually toward a stadium turf replacement fund). Councilors discussed the turf fund—s current balance of roughly $200,000 and an estimated replacement cost of about $600,000; trustees and the city—s trustees of trust funds must also act before the transfer can occur. The first reading and scheduling of a Nov. 10 public hearing were approved 6-0.

Next steps: Both items will return for public comment and potential final action at the Nov. 10 council meeting. The city manager will coordinate required notices and materials for the public hearings.