The Board of Education heard a hopeful report at its meeting on February 19, when Director of Business Ron Bienkowski explained that due to an estimate for the Special Education Excess Cost Grant, the district is now projecting a positive balance for the 2018-19 fiscal year.

It was the fiscal year’s seventh monthly report.

“The anticipated obligations now include the excess cost grant,” he said, “which was estimated by the state at 75.7 percent. That’s higher than it has ever been at this time of the year; usually it is has been about 72, 73, or 74 and a half or so [percent.]”

In a letter to the district, as Mr Bienkowski stated, the state explained other school districts did not list as many expenses as they had anticipated, which should lead to the state’s money going “farther.”

“The letter from the state was very conditional in the way it was worded,” Mr Bienkowski shared, “saying that they expect more school districts to submit more expenses, and the number may be subject to change. They tell us the good news, but then they say the may take it back.”

The January report was updated to reflect the new excess cost grant estimated reimbursement, which is roughly $121,000 more than the district anticipated receiving. The previous monthly financial report anticipated an offset from the excess cost grant to be 75 percent.

According to the state, the Special Education Excess Cost Grant reimburses school districts for costs of special education for a student that exceed 4.5 times the district’s average per pupil expenditures for the preceding year and costs for special education students placed in the district by a state agency.

Mr Bienkowski said he is hopeful with the current balances that the projections should be able to be maintained through the end of the fiscal year.

“Everything else seems to be under control,” he added.

All the other main object accounts are projected to be in a positive position, except the out-of-district tuition and other purchased services, according to Mr Bienkowski. The planned special education contingency of $100,000 is expected to be used to cover a $92,700 shortfall in that account. Mr Bienkowski also reminded board members that the account was projected to have a larger negative balance last month, and the anticipated excess cost grant reimbursement is offsetting that.

The financial report submitted to the school board reads, “The budget, at this time, primarily due to the increased Excess Cost estimate, is projecting a much better balance than the prior month and is in a positive position. We are optimistic that these balances will hold until the end of the year and may even improve. Additional receipts for local tuition and miscellaneous fees were booked. The budget will continue to be closely monitored with any further impacts being shared as appropriate”

The Board of Education unanimously voted to accept the financial report at the meeting.