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Committee discusses moving FY26 surplus to Ferguson Field account, up to $50,000
Summary
The chair outlined the committee's policy of transferring a portion of year-end fund balance (historically 10%) and discussed moving fiscal year 2026 surplus funds, including up to $50,000 into a Ferguson Field restricted account; no final vote on the transfer was recorded in the transcript.
The Chair reviewed the district’s standing practice for using accumulated fund balance at year-end, saying the school committee’s policy had been to transfer a portion of surplus (historically about 10%) into restricted accounts. The Chair discussed a proposed allocation of fiscal year 2026 surplus to the Ferguson Field restricted account, noting the district could transfer "up to $50,000 in action." (Chair)
The exchange framed the transfer as continuing practice rather than a newly proposed policy: the Chair said "The 1st 1, policy that the school committee approved a few years ago... to transfer 10%" and placed the Ferguson Field transfer in the context of that policy. The transcript does not record a specific motion text, mover/second, or a completed vote on the Ferguson Field transfer during the segments provided.
