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Rockport reports $84,000 of unanticipated capital expenses; reserves remain healthy
Summary
The district reported about $84,000 in unanticipated capital and maintenance costs so far this fiscal year (flooring repairs, irrigation pump, gym fire-alarm repair, roof study); the business manager said estimated reserves remain around $1.9 million and the town will cover larger roof replacement costs.
June Sanfilippo, the district's business manager, presented the Rockport School Committee's quarter-two financial report on March 5, telling members the district absorbed roughly $84,000 in unanticipated capital and maintenance costs this fiscal year but remains fiscally healthy.
Sanfilippo said the $84,000 covered items including classroom flooring repairs, playground equipment replacement, a gym fire-alarm repair, an irrigation-pump fix and a roof-leak study. "Part of that $84,000 that we've spent so far this year is there's additional flooring issues in certain classrooms ..." she said, and noted the town has offered to cover the actual roof replacement cost while the district paid for the study.
She told the committee reserves are estimated at about $1.9 million and that district leaders intentionally budgeted conservatively to maintain fund balance amid declining enrollment trends. Committee members asked whether unspent operating funds could be reallocated to capital at year-end; Sanfilippo explained using operating surpluses would reduce the reserve balance and that the district is choosing to keep reserves healthy for future needs.
The committee expressed satisfaction with the fiscal management approach and had no immediate requests for additional action.
