New Milford Board of Finance Approves School Surplus Allocation, Creates First Responder Fund

NEW MILFORD, CT — The Board of Finance unanimously approved the proposed allocation of the Board of Education's 2025-26 year-end surplus, established a new non-lapsing fund for first responders and approved year-end budget transfers during its June 24 meeting.

The board voted unanimously to allocate the school district's year-end balance, subject to the final audit, by directing $502,964.43 toward the Education Cost Sharing lease payment, repaying $232,906 in previously set-aside grant funds to the Town of New Milford, depositing $50,000 into the Turf Field Replacement Fund and placing the remaining balance into the Board of Education Capital Reserve account. Board Chair Walter O'Connor said the allocation follows the town's typical year-end practice and noted the Education Cost Sharing lease has approximately 14 to 15 years remaining. Finance Director Olga Alizarchyk said the figures remain subject to the final audit, which is expected to be completed in October or November.

The board also unanimously approved creating the New Milford First Responder Fund, a non-lapsing account that will receive revenue generated through the town's school bus camera enforcement program. Alizarchyk said proceeds from automated citations for motorists who illegally pass stopped school buses will be reserved for future capital purchases for first responders. O'Connor said the fund could also receive revenue from other automated traffic enforcement programs if they are implemented in the future.

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Board members unanimously approved a series of year-end budget transfers intended to prevent negative balances in several accounts. Alizarchyk said the transfers include payroll funding for Sullivan Farm, moving Department of Public Works funds from materials and supplies to equipment for the purchase of a winter materials storage tank, and an annual transfer associated with police private-duty operations. She also noted that the Education Cost Sharing lease payment is similar to the Board of Education payment, with the town responsible for one-third of the cost. Any remaining funds will be transferred to the town's capital reserve account.

Alizarchyk reported that, through the first 11 months of the fiscal year, town revenues were generally meeting expectations, with some departments performing better than budgeted. She said building-related revenue had matched the previous fiscal year's total by the end of May, while interest income exceeded budget projections, although it remained below last year's level. State revenue was also tracking as anticipated. She told the board that expenditures across all departments remained within appropriations and no year-end budget adjustments were expected. The board unanimously accepted the finance director's report.

No members of the public spoke during the public participation portion of the meeting.

Before adjourning, O'Connor said the board's July meeting remains on the calendar as a placeholder and will be canceled if no business requires action. The meeting adjourned at 7:21 p.m.