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End of Year: Fiscal Year 2023
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AreaAmountRunning Fund BalanceDescription / NotesDateVote
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StartRevenue Over Expected and Expenses Under Budget1,232,724.001,232,724.00
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Committed Fund BalanceTransfer to Building Maintenance Capital Reserve Fund(125,000.00)1,107,724.00Approved Warrant Article 3 from March 2023
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Transfer to Capital Improvement Expendable Trust Fund(125,000.00)982,724.00Approved Warrant Article 4 from March 2023
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Transfer to Employee Benefit Reserve Fund(100,000.00)882,724.00Approved Warrant Article 5 from March 2023
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Assigned Fund BalancePurchase of Radios: All three schools(42,000.00)840,724.00Provides additional radios so that all three schools will have new radios that can communicate with any school, police, and/or fire. 6/21/235-0-0
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Purchase of Blue Lights: All three schools(16,500.00)824,224.00Will allow additional blue lights to be placed in gym, cafeteria, auditorium (CHS) as well as additional panic buttons and panic pull stations6/21/235-0-0
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Gator(8,500.00)815,724.00For grounds/athletics. Was decreased from budget, not do to need but to reduce FY23 budget.6/21/234-1-0
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LMS Wi-Fi(36,000.00)779,724.00To match GMS and CHS. 6/21/235-0-0
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Multi-Year Reading Contract(53,500.00)726,224.00Would result in a savings of around $41,500 over five years. We can purchase the reading program for five years for the price of three years if we front the money. In the budget next year is $75,000 and the negotiated price for this would be $128,500 (for the five years). The initial quote for 3 years was about $125,000 and 5 years was $170,000. 6/21/235-0-0
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CHS Auditorium Upgrades (35,000.00)691,224.00Projector, screen, inputs, and wiring for controls. (Soundboard to be purchased through student activity funds).6/21/235-0-0
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CHS PA System(33,000.00)658,224.00Adding speakers and updating the PA unit in the office.6/21/235-0-0
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LMS Stage Curtain(7,150.00)651,074.00Main curtain and rear drape. 6/21/235-0-0
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Transfer to Senior Class (DC Trip)(10,000.00)641,074.00Spring 2020 trip was cancelled due to Covid6/21/235-0-0
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LMS Surge Protection (7,500.00)633,574.00For whole building surge protection. 6/21/235-0-0
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TransfersTransfer to Food Service Fund(16,421.00)617,153.00Cover excess expenses. Ensures the Food Service Fund will not end in the negative. *Estimated at $50,0006/21/235-0-0
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Transfer to Capital Projects Fund(117,620.00)499,533.00FY23 Middle & District Expenses: Resilient, Introspective, Windy Hill Associates, DDH Energy Consulting. *Vote for up to $116,0006/7/234-0-0
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Transfer to Capital Projects Fund(56,760.00)442,773.00FY23 Elementary: Barker Architect, SM Films, Nobis Engineering, Windy Hill Consulting, Niebling Consulting. 6/21/234-1-0
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Ending Balance of General Fund442,773.00To be utilized to reduce taxes. *This number has been confirmed by auditors, DOE, and DRA.
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*During budget season used amount of $132,570 (HB 1221 Revenue) to reduce taxes
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Fund Balance Identified in June/July of 2023$442,773.00See above
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Immediate Increase in Adequacy Aid from State$189,739.00The state of NH made immediate changes in adequacy aid for FY24. This resulted in an increase of $189,739 that Litchfield could either increase their appropriations (through a special meeting) or use to offset taxes. The board at the September 6, 2023 meeting voted 4-0-0 to use the increase to lower taxes. For Tax Year 2023, this was shown as an increase in adequacy aid (increased to $5,574,942)
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Total Amount that Reduced Taxes$632,512.00
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Fund Balance To Reduce Taxes
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FY22$285,348
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FY21$337,895
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FY20$708,777
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FY19$149,498
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$696,858.00
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$374,598.00
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$1,071,456.00
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$0.00
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