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Board preauthorizes up to 5% transfers between cost centers to manage year-end variance
Summary
The RSU 18 board approved a preauthorization allowing the administration to transfer up to 5% between cost centers to cover expected variances and avoid ending a cost center over budget.
The board approved a preauthorization permitting the administration to transfer up to 5 percent between budget cost centers to address over- and under-expenditures and to ensure no cost center ends the year over budget.
The superintendent explained the need for flexibility in managing cost-center variances and described the 5% threshold as a safeguard. A motion was made by Andy and seconded by Mike; the board approved the preauthorization unanimously.
The superintendent said this standard practice gives the administration latitude to reallocate funds where necessary and will be used judiciously to maintain fiscal balance.
