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Roxbury audit shows constrained near-term budget despite $14.8M fund balance; board approves finance slate
Summary
An external audit presented to the Roxbury Township Board of Education shows a $14.8 million fund balance (largely restricted), $2.5 million in current-year surplus earmarked for the 2026–27 budget, and warnings of tighter budget cycles; the board approved finance resolutions 1–17 and several recusal disclosures.
An auditor presented the Roxbury Township School District’s audited financial highlights for the fiscal year ending June 30, 2025, reporting an overall O/E fund balance of about $14.8 million, most of it restricted to reserves. The auditor said the district held approximately $3.3 million in capital reserve, $1.3 million in maintenance reserve, roughly $657,000 for unemployment compensation, and an unassigned fund balance of about $2.1 million (near the 2% the state allows). The current-year excess surplus was reported as $2.5 million and prior-year excess surplus as $3.5…
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