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Budgets

Board of Education Budget Information

The Board of Education budget year runs from July 1 to June 30.  The total budget is comprised of three components: operating budget, capital expenditure and debt service. 

Operating Budget

The operating budget includes all funding necessary to operate schools such as salaries, benefits, materials, utilities, transportation and student activities and is comprised of 8 cost centers: Joel, Eliot, Morgan, Special Services, Central Office, Maintenance, District-wide, and Athletics.  Technology items are embedded within the appropriate cost center.

The operating budget undergoes many versions and refinement before formal adoption.  District administrators and directors begin compiling their budget requests each October.  In December, the Superintendent begins reviewing each cost center request.

In January, the Budget & Finance Subcommittee holds several meetings to review all requests and receive additional information as requested.  This review and refinement culminates with the presentation of the Superintendent’s proposed operating budget at the second regular meeting in January.  The full Board of Education adopts the operating budget at the first regular meeting in February.

Capital Expenditure Budget

The capital expenditure budget includes funding for major repairs, replacements, and facilities projects and is developed each fall by the Buildings & Grounds Subcommittee in conjunction with the Director of Buildings & Grounds, Technology Director, Superintendent, Business Manager, and district administrators.  A one-year and ten-year plan is developed, with the full Board of Education formally approving the one-year plan each November/December.

Debt Service

The debt service represents the principal and interest payments for various bonded projects for the schools such as new buildings, roofs, and window replacements.  The debt service amounts are provided by the Town each January.

Town Approval Process

In February, the Superintendent presents an overview of the Board approved budget and provides a comprehensive budget book to the Town Council.  A Town Council workshop is held to further discuss the approved budget components.

In March, the Town Council finalizes the Board of Education total budget which includes operating, capital and debt that will go to a public hearing.  The budget public hearing is conducted in April, with the Town Council sending the finalized budget to referendum in May.

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