The school year is projected to end later this month a total of $618,602 under budget, based on the latest financial reports.
One of the areas of savings is teaching salaries, where unpaid leaves of absence and a few teachers out on workmer’s compensation contributed to an under-run, said Paul Hendrickson, business manager for the schools.
Hendrickson gave his report to the Board of Education during a meeting June 22.
“These salaries are exclusively for classroom teachers, and do not include special education or pupil personnel services teachers,” Hendrickson said in his report.
The benefits account is another expense that is running under budget at year’s end, probably from changing vendors for its Medicare supplement program for retirees and lower plan enrollment than projected, Hendrickson said. That account is running $108,759 under budget for the month of May.
Some accounts, like energy, are over budget, but the accounts that are under budget more than make up for the added expense.
Transportation is also running under budget, by $151,065 at year’s end, due to lower than anticipated fuel costs as well as lower out-of-town special education transportation expenses, Hendrickson said.
Importantly, it does not mean there is a budget surplus. It is just that much less money the schools require from the town on a draw-down basis.
The post Schools expect $600,000 surplus appeared first on The Ridgefield Press.