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School committee discusses fund-balance policy and Ferguson Field transfer
Summary
Committee members reviewed a standing policy to transfer a portion of year-end fund balance (10% cited) and discussed an item referencing a possible FY2026 surplus transfer to a Ferguson Field restricted account of up to $50,000; no explicit vote on that specific transfer is recorded in the transcript.
Chair opened a block of items about the use of accumulated fund balance and said the committee has a policy that, at the end of a year, would transfer 10% of the surplus. "The 1st 1, policy that the school committee approved a few years ago, whenever we had an end of the year fund balance would be to transfer 10%," the chair said.
The chair also introduced an item mentioning the fiscal year 2026 surplus and a possible transfer to the Ferguson Field restricted account for up to $50,000. The transcript records the amount and account name but does not include a clear motion text, mover, or a recorded vote on that specific transfer; the committee discussed the topic as part of routine fiscal items.
