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Chebeague Island School Committee to meet with town financial consultant after FY24 audit discussion
Summary
The committee reviewed FY24 audit materials and discussed options for the undesignated fund balance; the chair said the Select Board recommended a meeting with the town's financial consultant and the committee plans a first read of a proposal at its next meeting.
The Chebeague Island School Committee discussed FY24 audit results and options for the district’s undesignated fund balance at its Oct. 7, 2025 meeting and agreed to take the next step of consulting the town’s financial consultant.
The superintendent presented the audit memo and supporting materials. Chair Jeff Putnam said he had spoken with the chair of the Select Board, who suggested that several school committee members and the superintendent meet with the town's financial consultant to review findings and options. Committee members discussed possibilities for the undesignated fund balance and scheduled a first read of a specific proposal for the next regular meeting.
In other business, the superintendent reported that a draft memorandum of understanding between the Chebeague Library and the school has been prepared and will be shared as an agenda item at the next regular meeting. The committee also began a first discussion about improving the school's communications system; the superintendent will gather input from families to inform a communications plan to be presented at a future meeting.
No formal votes were recorded on the audit or fund-balance proposals at this meeting; committee members will reconvene with town staff and the consultant before taking formal action.
