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Rockport reports $84,000 in unanticipated capital costs; reserves remain healthy
Summary
Business manager June Sanfilippo told the committee the district absorbed roughly $84,000 in midyear capital and maintenance costs (flooring, alarm repair, irrigation pump, roof study); estimated reserves remain about $1.9 million and the budget is on track.
At the March 5 meeting June Sanfilippo, the district’s business manager, gave a midyear financial update through Dec. 31 and reported about $84,000 in unanticipated capital and maintenance expenses absorbed by the operating budget.
Sanfilippo listed examples: additional flooring repairs in classrooms, repairs and study related to roof leaks (music room), a fire-alarm issue in the gym, replacement/repair of playground equipment, and an irrigation pump problem. She said the district paid for a roof study and covered immediate remediation, while the town has offered to cover eventual roof replacement costs. Sanfilippo estimated current reserves at about $1,900,000 and said the district is still on track for the fiscal year, noting the $84,000 was handled from budget lines that had not yet been spent.
Committee members asked whether unspent operating funds could be reallocated to capital at year-end; Sanfilippo explained that spending those balances is a choice but would lower the reserve total. The presentation emphasized the partnership with the town and the district’s conservative multi-year budgeting approach.
