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New Milford Board approves monthly fiscal items, hears clean FY24/25 audit and preliminary $4M solar-credit estimate
Summary
At its March 17 meeting the New Milford Board of Education approved monthly fiscal reports and a purchase resolution, received a FY24/25 audit with no deficiencies, and discussed preliminary ESG/NV5 solar-project credits estimated at about $4 million; board members asked staff for a detailed credits breakdown.
The New Milford Board of Education on March 17 approved the Budget Position dated Feb. 28, 2026; Purchase Resolution D-804; and requests for budget transfers, and received an external FY24/25 audit that showed no deficiencies.
"For the Board of Education there were zero deficiencies," said Anthony Giovannone, director of fiscal services and operations, who presented the audit results and thanked central-office staff. The board was also told the district will deposit $100,000 for a turf field and that the BOE capital reserve ending balance stands at $1,318,617.
Board members pressed for clarity on a separate ESG/NV5 solar project report. Mrs. Wendy Faulenbach said the report suggested approximately $4,000,000 in credits associated with the project and asked for a detailed breakout, including any unexpected charges. "It is great to have an audit with no material weaknesses," Faulenbach said, explaining the district’s bond rating and buying power benefit from a clean audit.
Giovannone said the initial solar-project measurements and credits had been identified and that he is following up with the town to confirm allocations and to ensure the figures are reflected in MUNIS. The board asked staff to supply a clear accounting of which credits are available to the district, which are town credits, and any conditions or offsets that apply.
Procedurally, the motion to approve the Budget Position, Purchase Resolution D-804 and the requested transfers was made by Tom O'Brien and seconded by Brian McCauley; the motion passed unanimously.
Next steps: staff will provide the requested detailed breakdown of ESG/NV5 credits and report back to the board; Giovannone indicated he will update the record in MUNIS when town allocations are confirmed.
