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Committee approves FY22 closeout and renews contract for district financial services
Summary
Blackstone-Millville leaders approved FY22 closeout transfers, noting stronger-than-expected Medicaid and state reimbursements, and unanimously renewed a contract with financial-services accountant Ron Pierre-Lewis, increasing his hourly rate and not-to-exceed cap.
The Blackstone-Millville School Committee unanimously authorized administration July 11 to execute FY22 closeout transfers and approved a renewed financial-services contract with Ron Pierre-Lewis.
The business-office presentation showed a FY22 ending excess-and-deficiency (E&D) balance of roughly $400,106 after accounting for an anticipated $150,000 revenue stream carried into the FY23 planning number. The business office credited higher-than-forecasted state reimbursements and Medicaid billings for improving the bottom line: Medicaid receipts were presented as $343,376 against a budgeted forecast of $82,000, and transportation and charter-school tuition reimbursements added positive variances.
On the fiscal-services contract, the committee reviewed an updated agreement with Ron Pierre-Lewis, who serves as a contracted assistant treasurer for the district. The contract increases his hourly rate from $150 to $170 and raises the not-to-exceed cap from $25,000 to $35,000 to cover additional billable time during the administrative transition. The administration noted the incremental cost for any extra hours would come from salary savings in the currently vacant assistant-superintendent position when applicable; the committee approved the contract unanimously.
Business-office staff walked the committee through the proposed line-item transfers that would redistribute additional revenues across several budget series to close out FY22; the motion lists specific dollar transfers by series and was approved unanimously. Administration said the closeout will leave approximately $800,000 in the general fund prior to E&D recertification, with an expected E&D near $1.2 million once recertified in January.
Committee members asked about year-to-year volatility in state reimbursement rates; administration said transportation reimbursement percentages can vary and noted a current projected reimbursement around 85 percent, subject to state action. The committee approved the closeout motion by voice vote.
What's next: administration will implement the closeout transfers and file FY22 closeout documentation; the renewed contract with Ron Pierre-Lewis will be executed and the district will continue to monitor state reimbursement assumptions.
