Concord Board of Education Finance Committee | 6-22-2026

The Concord School District Board of Education Finance Committee met on June 22, 2026, to review the 2025 audit reports, projected year-end fund balances, 2028 budget planning, and updates on the Facilities and Renovation Trust Fund. The committee received a detailed presentation from the district's auditor, CBIZ, highlighting a clean audit opinion with no material weaknesses or significant deficiencies in internal controls or federal grant compliance. Key financial points included the district's net pension and OPEB liabilities, capital reserves totaling approximately $22.8 million, and a $169 million bond authorization for upcoming projects. The committee discussed the use of the Facilities and Renovation Trust Fund to purchase administrative office property and recommended formal board approval for this expenditure. The projected year-end fund balance showed a slight deficit, with ongoing efforts to manage salary savings, transportation costs, and special education expenses. The committee also addressed challenges related to lunch debt collection and software limitations for payment processing. Legislative developments impacting budget caps and administrative expense limits were noted, with the committee seeking clarity on definitions and potential impacts. A motion was passed to recommend the board approve funding the administrative office purchase from the Facilities and Renovation Trust Fund. The meeting concluded with a move to a non-public session for legal advice discussion.