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Cinnaminson board accepts financial report, approves bus lease purchase and routine business
Summary
The Cinnaminson Township School District board accepted the annual financial report for the year ending June 30, 2025, approved routine business and personnel actions, and approved a lease-purchase for three school buses totaling $497,750. The board also approved disposal of 170 obsolete Chromebooks and accepted Farm to School grant allocations.
The Cinnaminson Township School District Board of Education voted Wednesday to accept the district's annual comprehensive financial report and to approve a package of routine business, personnel and finance items that included a lease-purchase agreement for three school buses costing $497,750.
The auditor presented the financial results for the year, reporting total revenue of $62,548,009.43 and total expenditures of $62,000,002.58, producing a reported gain in operations of $290,008.73 and a year-end fund balance that the auditor further analyzed into reserves and excess surplus. The board approved the CAFR for the year ending 06/30/2025 "with no recommendations," as read during the meeting.
The district approved multiple consent items under routine business and personnel, including certificated and non-certificated appointments, resignations, extra-duty assignments, transfers and field trips. The business and finance section also included acceptance of New Jersey Farm to School grant allocations for the middle and high school, approval of IDEA and ESEA carryover amounts for the upcoming school year, and the removal of a district scholarship that showed a $0 balance.
Among operational actions, board members approved the disposal and surplus sale of 170 obsolete Chromebooks via GovDeals and authorized a lease-purchase agreement with Cogent Bank to acquire three school buses for $497,750. The motion to approve Section 16 (business and finance) passed on a roll-call voice vote recorded in the meeting.
The auditor cautioned that the district has been using excess surplus to balance the budget and that returning that surplus will put pressure on future budgets; the auditor said the district is "using a lot of surplus" and noted the need to limit expenditures to rebuild reserves. The board discussion that followed did not alter the approvals on the consent calendar.
The board took the votes for routine business, personnel and finance items in sequence; each motion was seconded and carried by the board on recorded aye votes. The meeting later moved into executive session for additional business and returned to public session to approve a follow-up item before adjourning.
What comes next: the board’s next regular meeting was announced for Tuesday, Feb. 17, and the administration said it will report back on pilot positions and other operational items in subsequent months.
