School District Ends Fiscal Year with $345K Balance

The Board of Education announced Tuesday that the school district has a balance of $345,128 left in its 2011-2012 budget, and that sum could be returned to the town.

Doreen Munsell, the director of finance and business services for the district, cautioned that the number could change slightly between now and June 30 (the end of the fiscal year), but a final update would be provided when the fiscal year is closed.

The balance was in place even though the district had to deal with emergencies like fixing the boilers, repairing the roof parapet and facades, and taking care of a roof leak at .

Superintendent of Schools Dr. David G. Title pointed to huge savings in electricity thanks to a bid decision made by the purchasing department, a reduction in heating/utility costs due to a mild winter, and retiring staff as factors in the balance.

"We feel we can turn this back to the town," Title said.

School board Chair Pamela Iacono agreed and said the funds can help the town take care of "bottom-line expenditures."

She thanks the district's Central Office for ending the year with a balance.

"This could have gone the other direction, but you realized the need to turn it back to the town," Iacono said. "Thank you."