FY10 budget update

One of the biggest responsibilities of the former Business, now FO committee is a quarterly update of the current year budget.

FY10 budget update (as of Dec. 31, 2009)
30.7% of the budget has been expended so far this year (teachers get paid through the summer, which counts on this fiscal year, which is why we've spent 30% of the budget at 50% of the year)

saved money on final actuarial study from city $386,000

lower sped tuitions $350,000--placements that didn't happen
cooler than usual summer; warmer than usual winter= savings on utilities

more outside legal (sped and regular legal) than past years; collective bargaining up (which costs money for the attornies who negotiate)

Health insurance (we hired a few more teachers) and we have less grant funding

plant maintenance (that fat, oil, grease ordinance from the city)

day-by-day substitutes; we assumed a vacancy factor, but it has not panned out this year (or last, come to that)

unemployment comp has been extended by fed and state; we aren't being reimbursed for this.
So far it's $127, 136 over

Have not spent fiscal stabilization funds so far this year ($15.9 million), asks Foley; how are we doing this?
State has not yet gotten the money from the fed; they're supposed to get them during the third quarter, and can spend them retroactively if needed, back to July 1 of this past year.

"worker's comp is the School Committee's snow account", says Foley