WLC unexpended fund balance tops $432K

WILTON – SAU 63 Business Administrator Lisa Ambrosio reported on Tuesday that the unexpended fund balance for the 2013-14 school year is $432,914. That amount will be returned to the towns to reduce taxes.

She said most of the money is from changes in special education expenses and Medicaid reimbursements. Other savings came from other reimbursements such as insurance and changes in staff, such as replacing an experienced retiring teacher with a younger person.

Special education costs have to be budgeted according to the students at the time the budget is prepared, 18 months in advance, and changes cannot be foreseen. Nor can reimbursements and those are generally not calculated in the budget. In addition, none of the fund balance is being placed in the district’s various capital reserve funds as it is most years.