REGION 16 — As the 2016-17 fiscal year came to a close, school officials made a financial move with an eye on the 2018-19 budget.
Last week, the Region 16 Board of Education, which oversees schools in Beacon Falls and Prospect, approved transferring $336,973 in the 2016-17 budget to make an interest payment on debt that is budgeted for 2017-18.
The transfer is part of an effort to keep spending down when it comes time to craft the 2018-19 school budget.
“I think it will really help us next year come in as low as we can with the budget,” Superintendent of Schools Michael Yamin said.
Director of Finance and Business Operations Pamela Mangini explained that transferring the funds to pay off interest will free up $336,973 in the 2017-18 budget that is already budgeted as an interest payment. The plan is to use the no longer earmarked funds to make an interest payment this fiscal year for 2018-19. By doing so, she said, the money wouldn’t have to be budgeted in 2018-19.
Yamin said officials are trying to be aggressive and fiscally responsible, especially facing uncertainty with the state budget and cuts in state education aid. He said he is hoping to craft a 2018-19 budget that doesn’t increase spending.
The $336,973 transferred comes from excess money in salaries for non-certified staff and special edition tuition. Of the total, $175,000 is from surpluses in salaries for custodians.
Mangini said there was an unusual amount of turnover among custodians in 2016-17. She said between six and eight new custodians were hired during the fiscal year, and the new employees made less than the people they replaced.
Steve Martoni was named interim director of facilities and maintenance after Michael Ceresa, who held the position, died in February. Mangini said the district didn’t fill Martoni’s position, which also contributed to the excess funds.
