Finance subcommittee recommends FY26-1 budget transfer to full school committee

The North Middlesex Regional School District Finance Subcommittee unanimously recommended a proposed FY26 intra-budget transfer (FY26-1) during its April 3 meeting.

Kevin Cormier, speaking for district administration, told the subcommittee the packet included the latest expenditure report and a transfer request that shifts budget authority among existing lines. Cormier said lower-than-expected out-of-district tuition reduced pressure on the tuition line, allowing the district to move $77,373 from instructional accounts, designate $140,392 for utility and snow-and-ice costs, and add $36,981 to the debt-service interest line. He said the debt-service interest adjustment reflects application of a bond premium and "doesn't come out of town debt-service lines."

Lisa Martin moved to approve the transfer and recommend it to the full school committee; the motion was seconded by Michael Abasier and passed on a roll-call vote of the subcommittee.

Why it matters: the reallocation responds to fiscal shifts within FY26 while keeping the town-level debt-service burden intact, administrators said. The recommendation will appear on the full school committee agenda for formal action.

The subcommittee recorded no public comments on the transfer. The administration said it did not expect further transfers before the end of the fiscal year but noted that late-year developments occasionally require additional adjustments.

What’s next: The full North Middlesex Regional School District School Committee will consider the FY26-1 transfer at its next meeting; the administration will implement the reallocation only after full-committee approval.