It’s too soon to calculate the amount needed from a reserve fund transfer to offset the current education budget deficit, School Superintendent Cliff Chuang told the School Committee on Monday.
But he provided some data indicating that things are trending in the right direction – at least for next year.
The current deficit of about $480,000, most of it emanating from special education transportation and out-of-district tuition accounts, eventually will be the focus of a reserve fund transfer, administered by the Finance Committee. The Special Town Meeting on Tuesday was scheduled to transfer $500,000 from free cash to the reserve fund to ensure an adequate supply.
Chuang said the Finance Committee wants the request to reflect as specific a number as possible, which means it could be as late as early July before there is formal action on it. The fiscal year ends on June 30.
The original deficit of about $1.2 million was reported in April. Chuang found state circuit-breaker emergency funding programs to offset about $1 million.
Chuang announced to the committee on Monday that the new elementary grades literacy curriculum approved as part of the fiscal 2025 budget will cost $150,000 less than planned.
Julie Kirrane, the schools’ director of finance, said annual costs for “consumables” and licensing for the literacy curriculum are pegged at $92,000. Another $25,000 a year is targeted for professional development, “which could change as people obtain mastery,” Chuang noted.
He also reported that after receiving three bids for special-education transportation services, “significant savings” are expected to result.
“We are closing out the year and also in the process of making sure we review all outstanding purchase orders and encumbrances and analyzing remaining bills,” he told the committee. He also noted that after a meeting with Town Manager Matt Hanson, “we are mutually committed to deploy the full capability of the Munis accounting systems.”
Chuang also confirmed plans for School Committee meetings dedicated to quarterly financial reviews beginning in the fall. Meanwhile, “I will be the sole signatory for all professional services and contracts next fiscal year,” he reported. He added that he found this is not standard practice among superintendents, but “I’ve found it necessary for this next year.”
“I’m putting these measures in place as a proactive step to make sure we have visibility and control over our budget processes,” he said, reminding the committee that there also is a need to review and update its fiscal policies and procedures.
The superintendent also referenced an expected review of financial practices by experts from the Department of Revenue’s Division of Local Services, likely late in the year.
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