North Middlesex Finance Subcommittee Flags $7.8 Million Revolving Fund Buildup

Finance Committee · Meeting of August 10, 2026

TOWNSEND — North Middlesex Regional School District Finance Subcommittee scrutinizes $7.8 million in revolving fund reserves. Meeting August 10 with three of four members present, the subcommittee heard from Superintendent Brad Morgan and CFO Kevin Cormier that the district's unexpended expense funds will close fiscal year 2026 at roughly 1.9 percent of budget, above the subcommittee's 1.6 million target, with open purchase orders pulling the number back up after the district had worked it down. Member Kim Craven flagged that revolving fund balances had climbed from a projected $6.7 million to $7.8 million since January, and pressed the district to explain why balances in several accounts, particularly circuit breaker and before-and-after-school care, continue to accumulate.

Morgan cited five open collective bargaining agreements he estimated will "impact us in the neighborhood of a million dollars" and volatile special education placements as reasons for caution, while also describing plans to expand the before-and-after-school program at Vernon Brook, absorb MySchoolBucks fees for families, and potentially offer free employee childcare as a recruitment tool. Cormier agreed to rebuild the revolving fund spreadsheet with dynamic links to the district's accounting software; the subcommittee plans a follow-up meeting in early September.

In the full story:

• Who Was There
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Source: the Finance Committee meeting of August 10, 2026, reported from the official video recording and transcript.