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Groton finance committee recommends a FY25 'true up' and using non‑lapsing funds to cover known overruns
Summary
At a March 18 special meeting the Groton School District Finance & Facilities Committee reviewed a proposed FY25 "true up" budget transfer of about $19 million and agreed to present a one-page summary to the full board, recommending that definite overruns (magnet tuition, bus fuel, food-service debt) be covered from non‑lapsing funds.
Director of Finance Rita Parsiak told the Groton School District Finance & Facilities Committee at a March 18 special meeting that the first agenda item was a FY25 "reallocation" — a prior‑year true up of overages and underages — and that the draft transfer runs roughly "like, $19,000,000." Parsiak said the transfer will be posted so the district has a "true picture of last year's financials."
The committee asked Parsiak to prepare a concise, pivot‑style summary by major accounts for the full board so members can see at a glance how much of the $19 million is benefit‑related and how much is tied to other object codes. "I attached the balance, which is the $663,005.17," Parsiak said when reviewing projected non‑lapsing funds that could be carried into the current fiscal year.
Why it matters: the transfer…
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