Districts could vote each year to keep limited funds for unusual expenses, while Manchester would need a school committee recommendation and existing open-ended approvals would end.
A school district could keep unused year-end funds for unusual expenses if its legislative body votes to allow it. The total could not exceed 3 percent of the current budget appropriation.
Manchester could approve keeping year-end unassigned school funds each year if the school committee recommends it.
Existing open-ended approvals for school districts to keep unassigned funds would end.
A district’s legislative body could vote each year to let the district keep unused year-end funds. This applies to a school district whose legislative body approves keeping the funds. The retained funds could not exceed 3 percent of the current year’s budget appropriation total. The district could spend the funds only for an unusual circumstance, following the procedure in RSA 32:11. The bill would take effect upon passage.
Manchester’s legislative body could vote each year to let its school district keep year-end unassigned general funds. This provision applies to the city of Manchester and its school district. The school committee must recommend the authorization. The bill would take effect upon passage.
Existing indefinite authorizations to keep unassigned general funds would be rescinded. This applies to existing authorizations under RSA 198:4-b, II. This would apply when setting tax rates for the fiscal year ending June 30, 2027.
No hearings or votes scheduled.