Acton-Boxborough Regional School District Notes to Basic Financial Statements Year Ended June 30, 2024
As of June 30, 2024, the governmental fund balances consisted of the following:
Douglas/Gates
Nonmajor
Total
School
Governmental
Governmental
General
Construction
Funds
Funds
Fund Balances:
Restricted for: Capital stabilization fund…………………………… $ Federal and State Grants……………………………… Gifts and Private Grants……………………………… Extended Day Care…………………………………… All Day Kindergarten………………………………… Food Services………………………………………… School Choice………………………………………… Other school services………………………………… Revolving funds……………………………………… Community Education……………………………… School feasibility study……………………………… Other capital projects fund…………………………… Instructional leadership……………………………… Classroom and specialist teachers…………………… Professional development…………………………… Instructional materials, equipment and technology… Pupil transportation services………………………… Operations and maintenance………………………… Guidance, counciling and testing…………………… Other school services………………………………… Programs with other school districts (tuitions)……… Employee benefits……………………………………
664,734 $
- $
- $
664,734 1,007,194 159,700 876,436 304,467 1,088,329 747,136 1,203,798 550,481 220
- - - - - - - - - - -
- - - - - - - - - - - - - - - - - - - - - - -
1,007,194 159,700 876,436 304,467 1,088,329 747,136 1,203,798 550,481 220
56,587 27,591
56,587 27,591 72,250 3,767 1,685 49,209 24,388 469,953 662
Assigned to: District administration………………………………… 72,250
- - - - - - - - - - - - - -
3,767 1,685
662
49,209 24,388 469,953
3,373
3,373
109
109
77,423 25,000
77,423 25,000 48,246
Capital outlay………………………………………… 48,246 Excess and deficiency used for subsequent year's budget……………………………………… 1,699,000
-
1,699,000 (625,506)
2,122,718
(2,748,224)
Unassigned………………………………………………
Total Fund Balances…………….………………………… $
5,262,517$ (2,748,224) $ 6,021,939$8,536,232
NOTE 10 – RISK FINANCING The District is exposed to various risks of loss related to torts; theft of, damage to and destruction of assets; errors and omissions; and natural disasters for which the District carries commercial insurance. The District has withdrawn from a group health insurance risk pool administered by the Acton Health Insurance Trust (Trust) effective 7/1/2024. On the same date, the District enrolled and participates in the Massachusetts Interlocal Insurance Association (MIIA) for its health insurance coverage. MIIA is a member-owned organization that provides various insurance products and risk management services to
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