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Finance update: E&D projection stays under 5% and finance director announces resignation
Summary
The committee approved year‑end journal entries, learned the projected Excess & Deficiency balance is $1,586,879.58 (4.97% of the budget) and accepted notice that finance director Kristen DiDonato will resign with a mid‑August departure.
The school committee approved several year‑end budget journal entries and heard a finance report July 6 from Kristen DiDonato, the district’s director of finance and operations.
DiDonato said most journal entries relate to grant realignments as the district closes FY26. She reported the district’s projected Excess & Deficiency (E&D) balance is $1,586,879.58 — 4.97% of the budget — which keeps the district under the 5% threshold the committee monitors for reserve targets. DiDonato said final numbers remain pending incoming invoices and encumbrance work; the committee will vote on final E&D submission when numbers are finalized.
Later in the meeting DiDonato announced that July 6 would be her last meeting; she has submitted her resignation to accept a position with another Massachusetts district and expects her last day in mid‑August. In her remarks she thanked colleagues across the district and named several staff members.
The committee also certified student activity accounts for fiscal year ending June 30, 2026 and approved a surplus list and other routine items described in the business office report.
Why it matters: The E&D position affects fiscal flexibility and budgeting for next year; the finance director’s departure will require personnel planning ahead of FY27 closeout work.
