Concord School District finance committee reports $2.8M carryforward, taps trust funds for one‑time costs and moves to non‑public session

The Concord School District finance committee reviewed unaudited FY2025 results on Sept. 22 and confirmed a year‑end general fund carryforward of $2.8 million, staff told the committee.

Jack Dunn, who presented the report, said auditors were on site and the $2.8 million figure was unaudited but was the amount the district expects to carry forward into FY2026. He said the district used several trust funds and one‑time resources to reach that balance and that staff will present a full accounting to the board for formal approval.

Dunn said the district relied on one‑time and trust fund withdrawals to cover shortfalls and unusual costs. He reported that insurance proceeds from a totaled bus were placed in the school building maintenance fund and that $379,769.47 was recorded as taken from that building maintenance fund to help cover expenses; other trust fund withdrawals were used for instructional materials, dental costs and special‑education expenses. Dunn said some numeric details in his on‑the‑record explanation were not fully spelled out and that staff will provide a clearer, itemized report to the board.

The presenter emphasized several FY2026 pressures. He said there are unpaid transportation invoices from FY2024–25 totaling about $150,000 that will be a one‑time charge the district expects to cover from trust funds, and that transportation infrastructure and electric bus rollout are imminent. On the electric bus project, Dunn said site prep and paving were scheduled pending an easement with the utility, that installation would be followed by electrician work, and that the chargers (a 120 kW unit type from vendor TELUS) and buses may arrive earlier than previously expected.

On utilities contracting, staff said the district locked a two‑year energy supply at a lower rate that will reduce the per‑kWh price (from roughly $0.1246 to $0.0941) beginning in December, which should lower energy costs for the coming year.

Dunn also warned of revenue risks tied to state policy changes. He flagged proposed changes to the tuition/CTE formulas that, in his reading of the draft language, would raise the minimum district payment from levels the district had been running (he estimated the district was using roughly 65–67% of its entitlement and that the draft would move minimums toward 80%). He said he may adjust FY2026 revenue assumptions after receiving final state numbers.

The presenter noted new accounting treatment under GASB for compensated absences and said auditors would supply the district’s calculated liability this week so it can be reflected on the financial statements. He also said open‑enrollment shifts and the Deerfield tuition agreement (Deerfield is in year two of a three‑year contract and currently sends 23 students to the district) could influence future enrollment and tuition revenue.

On federal policy, Dunn warned that Medicaid rule changes effective July 1, 2026, could require more rapid, real‑time documentation from providers (for example, random moment time study requests) and that staff would attend training to prepare for potential reporting changes. Committee members noted outstanding grant items — CHMI under SAMHSA and Project AWARE — and said they were awaiting final decisions on those awards, which could affect local grant revenue.

Before ending the public portion of the meeting, Dunn moved that the committee enter a non‑public session pursuant to RSA 91‑A:3(b) and/or (c) to discuss special‑education matters; the motion was seconded and a roll call produced recorded 'yes' responses from multiple members. Committee members indicated Concord TV would be released and that they did not plan to return the televised portion of the meeting.

The special board meeting to finalize FY2025 carryforward and any appropriation changes was proposed for Oct. 8, with the presenter reminding members of the charter’s 10‑day notice requirement and that the district needs seven votes to change appropriations; if sufficient votes are not obtained, the Department of Revenue Administration (DRA) may impose tax adjustments to cover shortages.

What’s next: staff will provide audited or clarified FY2025 figures when auditors finish work, publish a line‑by‑line accounting of trust fund withdrawals proposed for board action, finalize the DOE report for submission, and return to the board with options for FY2026 revenue assumptions once state adequacy and tuition formula changes are finalized.

Attribution: quotes and specific figures in this summary are drawn from the committee’s Sept. 22 finance committee meeting presentation by the staff presenter (Jack Dunn).