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Biddeford schools report $1.1 million unearmarked fund balance; committee readies capital projects
Summary
The committee reviewed un-audited FY24 balances (about $2.1M year-end) and a plan to use $1.45M in the FY25 budget, leaving roughly $1.1M in unearmarked reserves. Members prioritized one-time capital projects, including a pavement project and landscaping at the middle school, and reported construction milestones at the Coot building and Biddeford Primary School.
The Biddeford School Committee heard a financial update on Aug. 14 that showed an un-audited FY24 year-end balance of about $2.1 million. Jeremy, the superintendent, said the committee plans to use roughly $1.45 million in the FY25 budget, leaving $659,000 of that year's funds; combined with previously held funds of about $426,000, the committees unearmarked fund balance is approximately $1.1 million.
Finance committee members emphasized using reserves for one-time capital costs rather than recurring expenditures. "My recommendation on any of these would be for one-time purchases that would allow you to approve something that doesn't then hit the tax rate in the near future," a committee member said, urging prudence in reserve spending.
The committee has budgeted roughly $500,000 for capital improvements and reported that pricing is starting to come in. Jeremy said the pavement project has solid pricing and will be prioritized; at BIS the work may be limited to crack-filling while the playground and walkways at other campuses could see full pavement or repair depending on final quotes. The committee also discussed irrigation and landscaping work at the middle school and noted that timing and emergency maintenance needs could change the project list.
Construction updates included progress on the "coot" building (flooring and kitchen equipment installation; furniture scheduled) and a signed contract with Great Falls Construction for the Biddeford Primary School project. Committee members said construction fencing and a trailer will be set up before the open house and that a ground-breaking could occur in about three weeks. The city council allocated an additional $250,000 for playground improvements; the committee plans public input on how those funds will be spent.
The superintendent and finance committee indicated they will continue to report pricing and project decisions as quotes finalize and extenuating repairs arise.
