District will use surplus to cut taxes in Lyndeborough
LYNDEBOROUGH – The Central School District ended the 2007-08 school year with an unexpended fund balance of $68,798. The money will be used to reduce taxes.
SAU 63 Business Manager Dan Starr explained the funds to the board Thursday.
Ordinarily, unexpended funds are placed in capital reserve funds, which need to be voted each year at annual meeting, but that was not done this year because of a deficit in special education. The district has two such funds, one for building maintenance and repairs, the other for unexpected, and therefore unbudgeted, special education costs.