FY18 Mid-year Budget Update (5 minutes)

Transcript (~3 min @ 21:25)

Speakers identified by voice; unnamed voices are numbered within this recording. Auto-caption text — verify against the video.

▶ 21:21 Speaker 3: thank you very much thank you thank you very much next on our agenda is the mid-year budget update at this time I would invite Ms. Farrell to the table and invite Superintendent Tamar to speak

▶ 21:33 Speaker 4: so I just wanted to inform the school committee we it is not unusual for us to freeze the budget it varies from year to year when we do that this year we were fortunate we did not freeze the budget until we returned from the holiday break

▶ 21:52 Speaker 4: sometimes we've done it as early as November so as a result no purchases that were not planned will be made without mine and miss Farrell's approval and all salaries have been incumbent so that they are accounted for so miss Farrell will bring you up to date beyond that so the mid-year update is very similar to what you see at the beginning of every month it's an accounting for all of the accounts that we have with totals at the bottom so that you can see what we were appropriated with at the beginning of the year how much has been spent to date how much is encumbered for those future purchases and what the available budget is when we talk about the freeze that is something that we put on at some point in the year when we feel that we've made the majority of those purchases that are needed to to get us through the school year for those are things that are going to come up at the end of the year for example graduation expenses you might not be doing that now but you've encumbered those funds so they will be there always will be some unexpected thing that comes up and so that's why we want to make sure that we are prepared in case of those types of situations if you were to compare this report today with the same report last year you would look at the bottom line and say wow we have about a million dollars more so when you look at it a little more closely you'll also notice that at this point today when this was run we've not paid out our collaborative tuitions yet we've just received the money on the grants for that now that the money is here we will be paying that out so when we pay those tuitions out we're basically at the same place we were last year so I feel very comfortable with the spending we're not anticipating any major changes for the rest of the year but we all know that things whether it's special education costs or homeless transportation those types of things we cannot predict for but I believe that we're in a good place to manage anything that might come our way in the next couple of months so I'll entertain any questions if you have any

▶ 24:05 Speaker 3: if I may what outliers do you expect what big surprises I really don't know

▶ 24:10 Speaker 4: again though the two that I mentioned are the kind of wild cards that are out there you know you could have a family move into the district and that student has an IEP or there needs to be some testing done those we would be required to do again not really sure same thing with homeless you know that is a very difficult situation this year we've seen a huge increase in our population and there are expenses that we have to cover if that does occur very good thank you

▶ 24:46 Speaker 3: very much lastly on the finance facilities agenda tonight is a This is superintendent's budget narrative for fiscal year 19. Superintendent?