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Town received $1,027,000 special-education reimbursement; board discusses handling of excess
Summary
Avon reported an intergovernmental grant of $1,027,000 for special-education excess cost funding that exceeded budgeted amounts. Staff explained the State reimbursement process and that excess revenue closes to general fund balance and is typically transferred to the Board of Education after the Town receives payment.
The board was told in the monthly packet that the town received an intergovernmental grant of $1,027,000 in February for special-education excess cost funding, an amount greater than budgeted. Tom DiStasio explained the Board of Education submits reimbursable special-education costs to the State twice yearly (December and by March 1); the State pays the Town and then the Town typically transfers reimbursement to the Board of Education.
Board members asked whether those excess revenues would be treated as exclusively for the Board of Education. DiStasio said revenue amounts that exceed budget are closed to the general fund balance and not automatically designated for either the Town or Board of Education; routine practice is to transfer funds to the Board of Education after State reimbursement is received.
