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Danbury School District finance committee reviews February financials, flags $5.1M unspent funds
Summary
At its March 18 meeting, the Danbury School District finance committee reviewed February financial reports: officials cited $12.8 million in February expenses, about $93.1 million year-to-date spending, roughly $74 million encumbered and about $5.1 million currently unspent pending an itemized one-time spend-down list.
The Danbury School District finance committee on March 18 reviewed February financial reports and heard that the district recorded $12.8 million in expenses for the month and is carrying roughly $5.1 million in unspent funds as of the end of February, Mike said.
Mike told the committee the district’s year-to-date spending since July totals about $93.1 million and that approximately $74 million has been encumbered against a $172 million operating budget. "Right now, as of the end of February, we're floating around a 5.1 million surplus," he said, adding the figure will decline as expenses are paid and additional encumbrances are recorded.
Why it matters: the committee said understanding which charges are one-time and which are recurring is key for preparing the FY27 budget. Mike said some of the apparent variances reflect one-time spend-downs and coding discrepancies that he plans to review with facilities and IT before publishing a finalized list.…
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