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Ridgefield board authorizes up to $1.459 million in year-end reserve appropriations
Summary
Trustees authorized potential year-end transfers—up to $609,000 to a Capital Reserve, $350,000 to an Emergency Reserve and $500,000 to a Tuition Reserve—contingent on available surplus at fiscal close.
The Ridgefield Board of Education voted to authorize potential year-end appropriations ahead of the 2025-2026 fiscal close: up to $609,000 may be transferred to the Capital Reserve, up to $350,000 to an Emergency Reserve focused on unforeseen expenses, and up to $500,000 to a Tuition Reserve to manage anticipated out-of-district tuition adjustments. The resolutions specify each transfer is "subject to the availability of unexpended general fund surplus at the close of the 2025-2026 fiscal year."
Board policy requires such transfers be reported after the annual audit; the Business Administrator is authorized to make the transfers and must report the final amounts to the board after the audit. The actions were approved as part of the consent agenda moved by Patrick Jo and seconded by Andrew Grippa.
