Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the School Finance topic
No spam. Unsubscribe anytime.
Superintendent: district UISF holds about $614,500; board urged to re-evaluate 15‑year fund agreement
Summary
Superintendent Dr. Willet reported the Utility Internal Service Fund end‑of‑year balance at roughly $614,500 (town balance noted separately) and recommended the board send the 15‑year-old UISF agreement back to committee for re-evaluation and possible renegotiation.
Superintendent Dr. Willet briefed the Tolland Board of Education on the Utility Internal Service Fund (UISF), reporting an end‑of‑year balance for the district of about $614,500 and noting a related town account balance (approximately $85,932). He told trustees the UISF agreement is more than 15 years old and contains outdated language referencing consultants and ESCO projects no longer in place.
Dr. Willet said the fund historically accumulated savings from energy projects and investments such as LED lighting and that the account has grown by roughly $100,000 a year in recent years. He recommended the board refer the matter to the Finance & Facilities Committee (FFC) to examine options: keep, reorganize or retire the fund; possible uses include emergency energy repairs or capital equipment with energy function, but the town currently controls expenditure requests from the account.
Board members asked whether rising electric prices or regulatory changes could affect budgets; Dr. Willet said energy‑price changes could have an effect over time and reiterated that legislative changes might alter the board’s control over the funds. No formal action was taken; the superintendent suggested FFC prepare recommendations and return to the board with options and any legal or procedural steps needed to revise the UISF agreement.
