Friends to Follow

Stay Connected


Wallingford BOE sets up new account to fund capital improvements


WALLINGFORD — The Board of Education recently approved a new account, which would allow it to carry up to 1 percent of its annual budget for capital improvements. One percent of this year’s budget is nearly $1 million.

The “non-lapsing education fund” has been allowed under state law, but is new to the Wallingford school system. The account would allow the Board of Education to carry over unspent funds rather than returning them to the town’s general fund.

“The statute was put in place a couple of years ago by the state of Connecticut,” said School Superintendent Salvatore Menzo. “It seems like the timing is good and it’s time for us to move forward.”

By the end of the current fiscal year, June 30, the Board of Education closes out its annual budget and usually has unspent funds. There is also often a rush to get purchase completed before the fiscal year ends.

“This gives us the gift of time,” said Board of Education Chairwoman Roxane McKay. “We don’t have to have everything expended by June 30. We can take our time and do our research on what is the best use of our money.”

“It gives us the capacity to carry funds over so the purchase orders can be cut and the payments can be made after July 1, rather than rush to have purchases and property delivered,” Menzo said.

Some of the money carried over will be used for maintenance this summer, McKay said. It can also be used for goods that are non-reoccurring. It cannot be used for reoccurring expenses such as salary.

There’s no deadline for the money to be used and it “doesn’t expire,” Menzo said.

McKay emphasized that although money will be placed in the account from year-to-year, she doesn’t expect it to grow substantially.

“The goal is to utilize it,” McKay said. “Personally, I see this as in July, it’ll be at its largest dollar amount, and I see it by the winter or fall, it actually being reduced significantly because you’ve fulfilled those capital expenditure items.”

evo@record-journal.com (203) 317-2235 Twitter: @EricVoRJ



Back to WallingfordNews
Top Stories of the Week

Principal of Meriden’s Platt High School on leave after DUI …
MERIDEN — Platt High School Principal Robert Montemurro is on sick leave after being charged Monday with driving under the influence following an accident on … more ...

After challenging holiday, Sears to speed up store closings …
HOFFMAN ESTATES, Ill. (AP) — Sears keeps pruning its business in a years-long makeover, a bid to transform itself from a 123-year-old retail store into … more ...

Pregnant woman taken to hospital after crash with Wallingford police …
WALLINGFORD — A pregnant woman was taken to the hospital following an accident on Route 68 Monday morning involving a police cruiser. A red station … more ...

Automatic voter registration is eyed for DMV …
Legislation proposed by Secretary of the State Denise Merrill would allow voters to automatically register at the state Department of Motor Vehicles. Merrill, a Democrat, … more ...

Snow expected Monday a.m. …
Up to seven inches of snow could coat the area today, making for a messy morning commute. Meteorologist Gary Lessor, of the Weather Center at … more ...

Comments