New London schools’ fund balance up
Increases come from unspent funds, additional revenues
By Neil Rhines
The New London School District anticipates some “unanticipated good fortune,” according to Joseph Marquardt, director of businesss services.
“I anticipate the general fund balance will increase by $251,795 and the long-term capital improvement fund will increase by $395,000,” Marquardt said, at the Aug. 12 New London School Board meeting.
Increases came from unspent funds and additional revenues.
Unspent maintenance budget projects, additional Medicaid revenue from prior fiscal years, unspent utilities and special education budget transfers made up the largest portion of the funds, Marquardt said.
The school board will take action during the Aug. 26 meeting to determine what to do with the unspent and additional funds.
Marquardt said some areas previously used during similar windfalls include wage and benefit stabilization, marketing for the district, budget stabilization and facility enhancements.
Board President Terry Wagner said he would like to see the funds used to adjust compensation for district staff and for marketing and promotion of the district.
Wagner said the district needs to emphasize these areas in order to align with the district’s Strategic Direction to maximize student achievement and and maximize staff.
The board discussed the use of these funds as possible one-time boosts. District Administrator Scott Bleck stressed the need to balance the district’s short-term and long-term needs.
Look in the Press Star for additional information on this issue and other budget issues.
In other New London schools news, the board voted unanimously to approve a Memorandum of Understanding and Agreement between the city of New London and the district.
According to the memorandum, the agreement will “ensure expectations, procedural process, and to allow the continued evaluation of services.”
Police liaison support will remain the same as last year, with one full-time liaison officer and two part-time officers, Bleck said.