Committee moves $226,356 to capital reserve and approves intra-fund transfers up to $425,000

At its June 8 meeting, the Lisbon School Committee approved two financial actions: a transfer of $226,356 from the general fund balance to the capital reserve fund, and authorization for the administration to transfer up to $425,000 among cost centers to cover shortfalls.

Chair introduced the items under new business. The motion to authorize transfers of funds up to $425,000 (to system administration, school administration, facilities maintenance, transportation and other instruction cost centers) was moved, seconded and approved with a stated vote of 5–0. The committee then moved to approve the $226,356 transfer to the capital reserve fund; that motion also passed, recorded as 5–0.

The superintendent and finance staff noted these transfers are intended to address current-year needs and to set aside funds for capital projects. No additional detail on specific line-item uses for the $425,000 authorization was provided in the meeting record; the administration indicated it would manage allocations and report as needed.

The committee took these finance votes before continuing with policy and personnel items; the budget referendum reminder for June 9 (high school, 7 a.m.–8 p.m.) was reiterated earlier in the meeting.