New Milford Board adopts $76.33M budget, moves year‑end funds and approves turf deposit

The New Milford Board of Education voted unanimously June 17 to adopt a $76,332,587 budget for the 2025–26 school year and to make several year‑end fiscal moves to balance this year’s accounts.

Anthony Giovannone, director of fiscal services and operations, told the board that the district’s budget position as of May 31 shows ‘‘we are 98.22% encumbered’’ and that the stated $3.5 million capital reserve does not yet reflect an anticipated $1.8 million five‑year capital withdrawal. Giovannone also said the district will fund a $513,000 Energy Systems Group/Bank of America lease payment from capital reserves this year while the project’s billing cycle runs a year behind; a preliminary savings report is due by June 30 with a full synopsis expected within 90 days.

The board approved a $100,000 deposit into the Turf Field Fund pending the final audit; board members said the annual contributions and town matching were intended to avoid a single large replacement bill in the future. The board also voted to move the remaining 2024–25 year‑end balance into the capital reserve fund and to request that the Town Council and Board of Finance take similar action.

The motion to adopt the 2025–26 budget was moved by Eric Hansell and seconded by Dean Barile. Other year‑end fiscal motions — including the turf deposit and the ESG lease withdrawal — passed by unanimous vote.

Next steps: the turf deposit and capital reserve transfers are subject to the final 2024–25 audit and the board will receive the ESG savings report when it is available.