Stories of 2019: WLC spends extra funds on budget shortage

  • Wilton-Lyndeborough Cooperative Middle/High School Staff photo by Ben Conant

Monadnock Ledger-Transcript
Published: 1/1/2020 10:08:38 PM
Modified: 1/1/2020 10:08:18 PM

The Wilton-Lyndeborough Cooperative will be changing its accounting practices, after having to hold a special district meeting in November to approve additional funds to cover budget shortages.

Wilton and Lyndeborough voters ultimately approved using $184,811 of funds coming into the district as additional state adequacy aid grants to cover the overages, instead of using it to lower the tax rate for both towns, which was the original intent. 

The vote was narrow, with 87 yes votes and 74 no votes. 

The funds, after being split between the two towns, would have reduced Wilton’s tax rate by about 32 cents, and Lyndeborough by about 36 cents per $1,000 of value. 

Instead, it was used to offset a $305,663 budget overage in the district’s budget. The overage was caused mainly by changes in staffing, causing changes in salaries and benefits packages, as well as changes in the special education needs of the district.

The district made other cuts in the district to cover the difference between the additional state funds and the shortfall. 

In the wake of the shortfall, members of the School Board made commitments to updating accounting practices in the district, including doing an additional audit and requiring the School Board to approve any expenditure of the $184,811 approved in November. Any funds leftover at the end of the year will be used for tax relief. 

The district also committed to not having any line item transfers for the next two years, so the district can clearly see where it is spending its money.

 

Ashley Saari can be reached at 924-7172 ext. 244 or asaari@ledgertranscript.com. She’s on Twitter@AshleySaariMLT.


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