Oxford Schools Return $138K Surplus

Oxford First Selectman George Temple said the town’s schools have given $138,000 back to the town due to an end-of-year surplus.

Temple trumpeted the news in a press release which said he could not recall a recent time when the board returned a surplus.”

The Board of Education has been extremely fiscally responsible and I enjoyed working with them. This board is looking out for our taxpayers,” said Temple. This was a job well done,” he added.

The $138,000 will go into the town’s general fund.

Paula Guillet, chairman of the Board of Education, said in the press release that since last November the current board of education, Business Manager Rosemary Hanson and Interim Superintendent Dr. John Reed have worked diligently” to control costs while addressing the needs of educating the children.

A mild winter meant significant” savings in heating costs, Guillet said.

My goal has been to open communication, maintain transparency and work together in a bipartisan manner with the Selectmen’s Office and the Board of Finance,” Guillet said.

Temple commended Guillet, the board and school officials for returning the money. Paula is doing an excellent job,” he said.

Town Finance Director James Hliva said, I’m very pleased to see there is a surplus. Along with a projected town surplus it will help to maintain our credit rating. Moody Investment Services was concerned that there had been continued deficits over the last few years and now this surplus will show we are moving in the right direction.”

He said the surplus will help the town get back to its projected 10 percent of the $40.6 million budget to its fund balance as recommended by town policy. The fund balance has recently been around the 8 percent mark, according to the press release.

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