001the regular meeting of the finance committee to order. Um Today is Wednesday, May 27th and the time is 6:02. Hayley, may I get a roll call? >> Rich O'Connor >> Here. >> Carol Panazzo >> Here. >> Lorraine Rossner >> Here. >> Is Is Patty on the phone? We're trying to get her. >> her. >> Okay. >> Also in attendance, Dr. Ken Saranich, Jackie Toolings, Tracy Hussey, Kate Kutash, and Joey Flaherty. >> If all please rise for the Pledge of Allegiance. I pledge >> I pledge allegiance to the flag of the United States of America and to the Republic for which it stands, one nation, under God, indivisible, with liberty and justice for all. >> The next order of business, can I get a motion to review and approve the following reports to the committee? The
002minutes of the finance committee from February 25th, 2026. The end of season financial report for the SHS girls field hockey team and the end of session end of season financial report for the SHS yearbook. >> I'll make that motion. I'll second. >> Motion made by Ms. Panazzo and seconded by Ms. Rossner. All in favor, please say aye. >> Aye. Any opposed? Motion carries. Hayley, do we have anyone on the public comment list? Are there anyone here that would like to make a comment to the finance committee? Anyone willing to make a comment? Seeing none, we can move on. Uh Jackie, over to you for the finance report. >> But before we go Yeah. And I just like to make a few comments relative to the the report that she's about to give. So, um as
003the finance committee is aware, uh the past two prior meetings um were not held due to lack of a quorum. And then this past month that we just had, um this past month was a shortened month because of April break. And we did have some staffing changes in the finance office. And to be certain that we have, because of course we're dealing with finances, the most accurate numbers possible, I spoke to Rich on last Wednesday or last Thursday. Um Jackie's going to give the report from last month that should have been given last month because we know those numbers are accurate numbers and up-to-date. We haven't had a chance to tie down this past month with the city, so that's why when you see the reports, the report that was supposed to be given last
004month that we didn't have the meeting. So, the other thing I just want to mention is I know um there's a lot of looming questions and what's happening with the budget for next year. Today's finance meeting is about our current budget. Jackie's going to report on where we're standing. There will be a special meeting for next year's budget next week. We're we're not going to be discussing any ideas or I mean obviously things tie in, but there no suggestions today are going to be brought to the table. We're not discussing what what are we doing about next year's budget. That's >> Mhm. >> for another time. Thanks. >> Okay. >> Thank you. Uh this expenditure report reflects financial activity for the 9 months for the 2026 fiscal year for the period ending March 31st, 2026.
005Total certified staff uh shows a year-to-date expenditure of 27.6 million. The total non-certified staff shows a year-to-date expenditure of 8.3 million. Health insurance, this account reflects a year-to-date expenditure of 7.8 million representing 96% of the allocated budget with 4% remaining. Instructional equipment. This line was used to purchase athletic equipment and will be funded with pay-to-participate funds to offset the deficit. Total tuition. The overall total tuition is showing a year-to-date deficit of $618,896. Excess cost grant funding was allocated to lines 5561, tuition sped public, and 5566, tuition sped private, in the amount of 1.6 million. Bed transportation public. This line is showing $1,032,813 expended and a year-to-date unfair unfavorable variance of $502,120. Year-to-date expenditures totaled $62,832,694. The BOE is displaying an overall favorable variance of approximately 17.9 million with 77.8% of its budget expended and 22.2%
006remaining. I also have the comparative for March 2025. The year-to-date expenditures totaled 64 million with 80.3% of its budget expended and 19.7 remaining. And also, uh, the year-to-date health insurance expenditure at that time was 7.6. Does anybody have any questions regarding the expenditures? So Jackie, please tell me if I'm right or wrong in what I'm going to ask. So if we look at the expenditure by the end of March in health insurance, it shows that we've spent 96%. Okay. So if we were to um total out to 100% for the year, would that be about an 8.2 or an 8.3% per month spending? So if you look at 12 months and you look at 100%, that comes out to about 8.2% per month. So if we look at that we've spent by the end of
007March 96% and we're going to spend another 8 say 16, June is a half a month, six Are we looking at maybe spending another 16.5% in health insurance? Um I don't have the percentages. I know as of April our overage is going to be 540,248. So is my thinking >> You're You're on the right track. Yes. Yes. It's just a question of how much the overage going to be. There will be an overage. >> Okay. So you're looking at it from a dollar perspective. I'm trying to look at it from a percentage perspective. So if we were to come out to the 100 percent by the end of June, I'm thinking we would spend another 8% per month. Now maybe you'll have less claims because people get less sick in warmer months and maybe will
008have already used have have gone for their checkups they're allotted by their plan so on and so forth. So, maybe they'll be a less percent. Okay, thank you. Hopefully. You're welcome. >> Anyone else? Question? >> Um reimbursements to the city of Shelton, the grant reimbursement was 400,000 and the interest on the grant account was $870.79. Revenue year to participate revenue year to date collected $205,481. And event ticket sales through April 8th totaled 34,700 dollars. Any question? Me? >> All right, thank you for the report, Jackie. I'm going to pass it over to Dr. Cernich. >> Uh I I've got nothing. All right. >> Good thing I don't have anything either. >> I guess bingo. >> I guess I guess bingo is going to come up pretty soon. Um Would someone like to make a motion
009to adjourn? >> I'll make a motion to adjourn. >> I'll second. >> Motion made by Ms. Pinozzo, seconded by Ms. Rosner. All in favor say I. >> I. >> Any opposed?