0:07The fiscal year 2026 budget discussion was introduced by Superintendent Dr. Heidi Driscoll, who outlined key updates since the previous budget discussions, most notably the increased state funding, which included a $47,000 boost in Chapter 70 state aid and a $3,485 rise in Chapter 71 regional transportation funding. These adjustments allowed for a reduction in the overall member town assessment rate, from 3.34% to 2.79%.

A critical component of the meeting was the transportation bid received on January 17. The committee is considering a five-year contract proposal, which would potentially free up $100,000 from the transportation budget to be redirected into the capital stabilization fund. This strategic reallocation aims to strengthen financial reserves and address capital needs without overburdening member towns.

Andreid presented detailed figures for the overall budget, emphasizing the significant 5.56% increase in the operating budget, now at approximately $25,054,611. This increase is attributed to staffing requirements and the necessity of maintaining essential supplies for vocational programs. The adjustments largely result from reallocated funds from transportation to capital stabilization and the completion of an energy-saving lease.

The meeting also broached the subject of the unfunded liability tied to OPEB, a issue with a liability standing at roughly $22 million and a trust fund balance nearing $1.5 million. The committee, in collaboration with the OPEB study committee, identified fiscal year 2026 as the optimal time to enhance funding for OPEB contributions. The plan involves a scheduled annual increase of 5% to tackle this liability, a demographic shift that influences tuition revenue and capital fees, impacting the member town assessments.

0:07With keen attention to fiscal responsibility, the committee unanimously approved the FY 26 budget in a roll call vote. The approval process included three distinct motions: the budget approval, preliminary assessment approvals totaling $26,046,673, and authorization for utilizing $650,000 from the excess and deficiency fund to mitigate member town assessments. All motions received unanimous support.

The finance subcommittee’s diligent work was acknowledged throughout the meeting, with members expressing gratitude for the thoroughness and inclusivity of the budgeting process, especially under the guidance of a new superintendent. The initial budget outline, nearly complete at presentation, underwent refinement through ongoing discussions and input from various stakeholders.

0:07While expressing satisfaction with the balance achieved between meeting the school’s needs and minimizing the fiscal burden on towns, committee members noted the smooth progression of the budgeting process. The finance committee’s efforts to lower town assessments were appreciated.