School board ends fiscal year with slight surplus

NAUGATUCK — The Board of Education ended the 2017-18 fiscal year with a surplus of $184,595.

The surplus is about 0.3 percent of the Board of Education’s $61.6 million operating budget.

The amount is unaudited, Business Manager Bernice Rizk said. Once the audit is complete, the money will be returned to the borough.

The surplus came after the board transferred $240,224 from salaries to special education transportation and tuition costs. Rizk said the cost of special education finished higher than expected.

Superintendent of Schools Sharon Locke said the cost will be reimbursed by the state Department of Education’s special education excess cost grant. However, the money will go directly to the borough rather than the Board of Education, she said.