41.06: Excess and Deficiency Funds
(1) Every regional school district shall maintain an excess and deficiency fund on its books of account. At the end of every fiscal year, any surplus or deficit in the district's general fund shall be closed to the excess and deficiency fund.
(2) On or before October 31 of each year, every regional school district shall submit to the Department of Revenue the forms and schedules as the Department of Revenue requires for the purpose of reviewing and certifying the balance in the regional school district's excess and deficiency fund. At the discretion of the Commissioner, the Department may withhold release of all or some part of the quarterly state school aid for the regional school district if the regional school district has not filed the required forms and schedules by such date.
(3) A regional school committee may use all or part of the certified balance in the excess and deficiency fund as a revenue source for its proposed budget. If the certified balance exceeds five percent of the proposed budget, the regional school committee shall use the amount in excess of five percent as a revenue source for its proposed budget.
Narragansett Regional School District
Excess and Deficiency calculation - listed as fiscal year 2016 on DLS gateway
Submitted by Ann Marie Geyster with the DOR field rep being Deb Wagner
form states date received 12/10/2015
submission complete on 03/07/2016
Unreserved fund balance/excess and deficiency - $339,200.00
Less: other receivable, overdrawn accounts, deficits
Title I grant 2,985.00
Phillipston Police Scholarship 69.00
Cash Variance 300.00
Total certified unencumbered excess and deficiency $335,846.00
Excess and Deficiency calculation - listed as fiscal year 2017 on DLS gateway
Submitted by Ann Marie Geyster with DOR field rep being Matt Andre
form states received 12/23/2016
submission complete on 01/04/2017
Unreserved fund balance/excess and deficiency - $469,233.00
Less: other receivable, overdrawn accounts, deficits
Kindergarten revolving 106.00
Charpentier fund 46.00
Cash variance 1,074.00
Total certified unencumbered excess and deficiency $468,007.00
Excess and Deficiency calculation - listed as fiscal year 2018 on DLS gateway
Submitted by Ann Marie Geyster with DOR field rep being Matt Andre
form states received 12/19/2017
submission complete on 01/08/2018
Unreserved fund balance/excess and deficiency - $404,154.00
Less: other receivable, overdrawn accounts, deficits
Kindergarten revolving 106.00
Capital project BioMass boiler 9,316.00
FY 16 Preschool grant 3,284.00
FY 17 Title I grant 1,242.00
Cash Variance 380.00
Total certified unencumbered excess and deficiency $389,826.00
Wasn't this the money that was used for the bleachers?
ReplyDeleteBob that’s what you got out of that ? At 54 min in the presentation ? That the E&D money’s we’re not applied ? To the 2.8%DRAFT budget ? That is NOT what DR C stated or am I wrong ? Thankyou
DeleteSorry for typos
DeleteThe E&D money was applied all except for $50,000 in case something breaks as DR C stated regarding the 2.8% budget.
DeleteYes that’s my understanding about this 2.8% budget . Thankyou
DeleteThis comment has been removed by the author.
ReplyDeleteSo what’s this about bleachers ? Can you help me out with that ?
ReplyDeleteI just seem to remember something about E&D money being used to buy/replace the bleachers.......no specific details. Was wondering if anyone had info.....
ReplyDeleteLooking at the TCTV advisory board review of school budget 4-5 2017 VIDEO - DR C E&D money’s 415,000 To balance — I have no idea about bleachers . Video is a wonderful thing and I wish Templeton would utilize it more and publicize it more so citizens can hear for themselves what is being asked or NOT asked at meetings. Thankyou
ReplyDeleteBoilerP: they got new bleachers for the football field. it was in the Gardner news paper. I guess you don't get the snooze
ReplyDeleteAnom 12:13 : the school spend 400,000 for the bleachers.
ReplyDeleteI would like to know - since we are speaking of facts. When and where that “400,000” for bleachers was spent , when and out of what account ? Bob said he understood that to be out of E&D is that correct ? Thankyou
DeleteOk post that I would like to see that if I could . And - so ? Are people supposed to sit in lawn chairs on a 30% slope of grass ? Or in their vehicles to watch a game ? Those bleachers were how old ? Isn’t that an insurance risk at some point ?
ReplyDeleteIs anyone saying this? I haven't seen it. It does matter where the money comes from as to how its gets raised and the process involved.
Delete“ Much better to pay $400,000 for bleachers out of E&D so E &D will be depleted thus necessitating the cry for an override!” So yes that was said and was written here yesterday by an Advisory member who should know I would presume of what she says. To me and also others it seems her comment(s) were unhelpful and suggestive of the School wasting taxpayer ( Templeton and Phillipston ) money for frivolous capital expenses.
ReplyDeleteI do not feel that way and will curious to watch a s follow the budget process.
I may need a math coach, I mean when I see $415,000.00 coming from a fund which states it has (had) $468,007.00 in and yet $400,000.00 is also paid out of the same fund. I may need to find some funds to cover a potential bad check. Point being; three years in a row, excess & deficiency has shown balances of $389,826.00, $335,846.00 and $468,007.00. Spending $415,000.00 on budget and $400,000.00 on bleachers from that fund is, well, the numbers do not add up, and it requires further review. I would also think there is no chance of any governmental entity or educational institution wasting taxpayer dollars on purpose, correct?
ReplyDelete^ As witnessed above in comment . Please support a strong math dept.
ReplyDelete