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East Kingston finance officer reports $26,700 potential return to taxpayers, legal invoices ongoing
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Summary
Finance officer Michelle told the board on April 13 that after recent expenses and encumbrances the district could return roughly $26,737 to taxpayers, but outstanding purchase orders and additional legal invoices (district portion $7,072 to date) could change that before close on April 24.
Michelle, the district finance officer, presented updated finances to the board and said that at the last meeting the district showed remaining expenses of $142,164 and that this month’s expenses totaled $43,948, leaving a remaining expense balance of $98,216 as of the meeting. She said additional revenue entries and the trust passed in March would put the district in a position to return approximately $26,737 to taxpayers if encumbrances and outstanding charges do not increase.
Michelle cautioned that the purchase-order process remains open until April 24 and that invoices for substitutes, utilities adjustments and legal bills could alter the final balance. On legal costs she reported two invoices had been received and paid and that, to date, the district’s portion of a particular legal case is $7,072; she noted the possibility of more invoices arriving.
Board members asked whether the legal figure represents the district’s share (it does) and discussed whether the legal line item should be increased in future budgets. Michelle said the next fiscal year’s budget is already parceled and that the district prefers to let actual costs appear in the ledger for future adjustments rather than make interim budget journals; she added most salaries and major encumbrances are already in place and substitutes are typically not encumbered.
The finance officer also described several expense line items that had been adjusted (gas/electric encumbrances, benefits changes) and identified a small library-furniture budget (~$3,000) for replacement shelving; the principal said he is coordinating with a local SST construction class to fabricate replacements and would report cost estimates next week.
The board was advised to expect potential changes in the final balance before the end of the fiscal year and to plan budget adjustments in fall budget conversations if recurring legal costs are higher than anticipated.
