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Middletown BOE sees small January surplus as city signals possible 5% cut; hiring freeze announced
Summary
At a board budget meeting, the finance director reported a modest January surplus and detailed one-time balances; board members were warned not to conflate the unexpended balance with recurring surplus. The board also approved a soft hiring freeze and set an April 2 purchase-order deadline.
The Middletown Board of Education’s budget committee reviewed financials through Jan. 23 on Tuesday, with Finance Director Natalie Forbes reporting a modest projected surplus and staff outlining short-term steps to protect the year-end budget.
Forbes told the committee that “budget expenditures for January show a modest surplus of $297,706 or 0.28% of the total budget of a $103,149,889,” and that the district projects a combined salary surplus of $366,690. She cautioned that the district’s unexpended balance — an amount she said stands at $396,451.93 — should not simply be lumped together with the month-to-month projected surplus because those funds historically cover…
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