6 | ACTON-BOXBOROUGH REGIONAL SCHOOL DISTRICT | ANNUAL REPORT 2023–2024
District Finances at a Glance
FY24 Financial Highlights • Chapter 70 (Minimum) Education Aid increased by $60 per pupil (versus $60 pp budgeted); represents $3000K revenue variance. • Regional Transportation final numbers were $155,966 over anticipated. • Interest rates on invested funds remained higher than expected and our projected investment income is over $740K for FY24. • Charter School reimbursement final numbers were $84,289 over anticipated. • Details of year-end budget-to-actual results will be presented in the preliminary FY2024 financial report to School Committee (August, 2024). FY25 Budget • Both towns have voted approval of the District’s FY2025 operating and capital budget ($114.4M), an increase of 7.7% over FY2024. • The Town of Acton community members voted a successful $6.6M override vote for both the Town and Regional Schools. • Boxborough’s FY25 assessment increase (14.46%) is greater than Acton’s (10.33%), due to Boxborough’s relative proportion of K-12 enrollment.
8% 7% 6% 5% 4% 3% 2% 1% 0% Annual Operating Budget Growth (%)
As the chart shows, our budget for FY2025 was vastly different from the last five years. Due to increased fixed costs, special education costs and health insurance costs, ABRSD needed a higher than originally projected increase for the FY2025 budget. The Acton-Boxborough Regional School District, along with the Town of Acton, joined together for a successful $6.6M override for the 2024–2025 fiscal year. The Operating Budget represents the appro- priated budget for all years except FY2021, where the incremental impact of the first year of new twin school debt service has been excluded.
AVG. FY20 FY21 FY22 FY23 FY24 FY25
■ Average Budget Increase (3.7%)
■ Budget Below 3.0% Increase
■ Operating Budget Increase
Budget/Assessment Trends
16% 14% 12% 10%
Due to its significantly greater relative enrollment, Acton’s assessments track closely with the District’s annual budget increases. Prior to FY22, Boxborough benefitted from the “cost shift” during the first seven years of full regionalization. Since FY2022, and projected to continue for years beyond FY2025, Boxborough’s assessment % increase exceeds the annual operating budget. Assessments are calculated based on the most recent three-year average of total enrollment for both towns.
8% 6% 4% 2% 0%
Acton Assessment Increase
Annual Budget (Appropriation) Increase
Boxborough Assessment Increase
-2% -4%
AVG.
FY18
FY19
FY20
FY21
FY22
FY23
FY24
FY25
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