District Update #70

10/27/23 News from the Superintendent's Office

District to return $740,214 to our towns

Over the past two years, we have shared many stories in this newsletter about the wonderful changes taking place in our small district.

Last night's School Committee meeting was a resounding confirmation that these changes are taking us in the right direction. In short, we have improved the district's financial management to an extent that allowed the School Committee to vote unanimously in favor of the following actions:

to return $740,214 to our three towns;

to pay off the state note for $198,000; and,

to invest $615,000 in curriculum renewal, the PVRS facility, and staff compensation.

How could all this be possible? Jordan Burns, our Director of Finance and Operations, has shared this explanation for the district's positive financial status:

There are a few key factors here. The first is that the district has developed substantial fund balances over time, and the second is that revenues for the current year are significantly higher than projected.

Because there have been so many things in play, like the departure of Warwick from the district, it’s taken time to sort all this out. Now that the financial picture has become more clear during the year-end closing process, and as we started projecting out for multiple budget years, it became evident that it would be appropriate for the district to reduce assessments and to return funds from the Excess and Deficiency balance to the towns.

What does this mean for the towns? Each town will receive an unexpected economic boost by a return of funds in the following amounts:

Bernardston: $297,961

Leyden: $62,474

Northfield $379,779

The School Committee also voted to pay off the 2018 state note and made a commitment to investing $615,000 in curriculum renewal, the PVRS facility, and staff compensation.

I am sharing only the briefest of overviews in this Update. For more context, including insightful commentary from Camie Lamica, the district's state-appointed Fiscal Overseer, I encourage readers to watch the video of last night's meeting. Mr. Burns gave an excellent presentation that brings together the many varied threads of this story. For more details and charts with all the financial numbers, click on the slide presentation at bottom.

This is a moment to celebrate! Through hard work and the support of our towns, our staff, and the School Committee, Pioneer Valley is demonstrating that we can build a vibrant and sustainable future for our schools.