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Finance subcommittee debates DIB reserve policy wording and format
Summary
Committee members reviewed two drafts of policy DIB (fiscal reserves), discussed keeping a 3% reserve target, debated 'should' vs 'shall' wording and agreed a reformatted, more user-friendly handbook/reference could accompany formal policies. Kim will reformat the draft for policy-committee review.
During its Dec. 1 meeting the North Middlesex Regional School District Finance Subcommittee reviewed proposed revisions to policy DIB, which governs fiscal reserves and how Excess & Deficiency (E&D) balances are used.
Committee members noted two versions of the draft in the packet: a longer early draft and a pared-down rewrite. Nancy Haines summarized the difference, saying the shorter version removes a previous section that listed specific allowable…
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