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New finance director outlines expenditure report; district expects to cover a ~$77,000 year-end position
Summary
The new finance director presented expenditures through May 31, saying the district’s projected year-end position is roughly $76,000–$77,000; staff expect to cover the position using circuit-breaker funds, rural-aid funding and an extraordinary relief allocation.
East Ham’s new finance director presented the school expenditure report through May 31 and described the district’s anticipated year-end position.
The finance director said the report did not include all June transactions and that an unrecorded out-of-district tuition expense (arriving in February) of about $35,000 is expected to be added. The finance director described the current projected ending position as roughly $76,000–$77,000 and said discussions with the town and central office indicate the shortfall can be addressed with a combination of leftover circuit-breaker funds, rural-aid funding, and an extraordinary relief allocation (the meeting referenced an extraordinary relief amount of $35,753). Staff said the final entries will be made in June when sources and exact amounts are confirmed.
Quote from the finance director: "I have for you today is the school expenditure report through May 31st," the director said as they opened the presentation. Committee members asked clarifying questions about the final deficit figure and whether the extraordinary relief and tuition entries had been posted; staff reiterated that the extraordinary relief would effectively offset the outstanding tuition amount and that the resulting position would be manageable before fiscal closeout.
Next steps: staff will complete June closeout entries and coordinate with the town manager and central office to finalize sources of relief.
