Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Nantucket schools report higher third-quarter expenditures, lunch program returns to small positive balance
Summary
CFO Martin Angelov reported third-quarter spending about $2 million higher than the prior year, payroll up roughly $1.17 million, and a school-lunch fund swing to a roughly $22,000 positive balance after a prior-year deficit of about $92,000; the district is monitoring utility, leasing and maintenance cost increases.
Martin Angelov, chief financial officer for Nantucket Public Schools, told the committee on April 14 that district expenditures as of the end of the third quarter were roughly $2,000,000 higher than the prior year and that payroll expenses increased by about $1,170,000.
"Budgets are about the same where they were last year. Total budget is at 70% expended. Payroll is 61% this year compared to 62% expended at this time in the prior year," Angelov said, noting that higher costs for utilities and some equipment-leasing and repair contracts are being closely monitored.
Angelov said a larger circuit-breaker offset for special education is stabilizing that line item after sharp increases in prior years. He reported community-school programming and donations produced $259,000 more revenue than the prior year while expenses grew $215,000; district staff said they will continue forecasting to determine whether a year-end deficit will be substantial.
On school food operations, Angelov said the lunch program has swung to a roughly $22,000 positive balance this year, an improvement of about $114,000 from last year’s roughly $92,000 deficit. He cited increased meal counts and updated subsidy amounts — "it's $4.65 for lunch and I believe $2.46 for a breakfast" — as drivers of the improvement.
The committee asked questions and had no substantive objections; Angelov said the district will keep monitoring costs and report back.
