The Finance and School committees came together to discuss the budget for fiscal years 2024, 2025, and beyond on Monday.
Assistant Superintendent for Operations and Finance Michelle Cresta began by giving an update on the FY24 budget, relaying that 11.2% of it has been spent so far. Cresta explained how the budget’s biggest obstacle has been the inability to consistently keep certain staffing positions filled and the financial consequences that can cause.
“I wanted to mention here, we do continue to struggle to fill staffing positions and even when we do fill them, the hourly rates that we are paying are extremely low and we’re not keeping those positions filled,” Cresta said.
She added that things like substitute costs and custodial overtime have had to increase due to a lack of long-term staffing. The district ended FY23 with a budget surplus of $1.3 million due to the staffing challenges.
Cresta said that according to an early projection, a $1.8 million budget increase will be necessary for FY25. She intends on releasing the preliminary budget request by the middle of January.
Finance Committee Chair Alec Goolsby reminded his fellow meeting participants of a new responsibility the schools are undertaking within the budget moving forward.
“The schools are going to, as part of their budget, carrying their portion of the health insurance within their budget,” Goolsby said. “What I really want to know is what our true reserve for both the school and the town side should be for that health insurance budget for fiscal year ’25.”
Finance Committee member Molly Teets presented the idea of the district crafting a long-term budget plan covering three to five years, as she noted Town Administrator Thatcher Kezer has discussed that idea on a town-wide level. Cresta responded by saying the district had not been approached by the town to do so, but it could help raise awareness of the capital needs of the school system.
“Our capital needs have really never been fully met to where we need to,” Cresta said. “We had a study done a couple years ago, basically that said we should be spending about a million dollars a year in capital improvements and upkeep. We’re certainly not spending that when we’re getting 2 to 3 or $400,000 in capital.”
Goolsby said that he feels it is important for the district to create a long-term budget plan, regardless of whether an override is passed in the future or not. School Committee member Jenn Schaeffner brought up impending contract negotiations with the teachers union that will also have a significant impact on budget planning.
Cresta said that she does not anticipate the budget books to become available until Jan. 12, therefore a budget workshop would most likely take place in the second half of January. The two committees hope to have a budget ready to be voted on by Feb 1.