Wellesley Public Schools: Fiscal Year 2026 Budget
General Fund: The general fund is the main contributor of funds to operate the schools. The revenue is derived from three sources: local contribution (property taxes and budgeted offsets) and state education aid (Chapter 70). Chapter 70 figures are not released by the state until mid-winter or early spring. For projection purposes, the district assumes Chapter 70 will be level funded plus $25/per student in additional aid. Since Chapter 70 revenue is paid to the Town of Wellesley and does not go directly to the schools, any change from the revenue assumptions made by the Town would impact free cash figures not the school department directly. Cash Capital Fund: Cash capital funds are budgeted general fund revenues dedicated to smaller equipment or maintenance projects. For FY’26, the Select Board set aside $8.5M for all cash capital projects. The Town’s budget preparation manual includes a definition that the threshold for cash capital items is $10,000. The school’s cash capital account funds new and replacement information technology. When resources allow, the district will also use cash capital funds to replace furniture, fixtures, and equipment (FF&E). This fund is described in the Financial Section under Cash Capital. Town of Wellesley: The Town of Wellesley carries several costs that directly support the schools. Municipalities can make individual decisions about where to budget these shared expenses. The school-related costs covered by the town budget include employee and retiree health insurance, non-professional staff retirement 2 , non-capital building and grounds maintenance, principal and interest debt payments, workers’ compensation, property, and liability insurance, etc. In Wellesley, the budgeting for these items is consistent with other town departments including Police, Fire, and Department of Public Works. When expenses related to the schools are carried in the Town budget, the revenue and expenses are shown as local revenue. These town expenses are described in the Financial Section under Town of Wellesley. Capital Fund: In Massachusetts, school districts cannot incur debt through the issuance of bonds. Therefore, we work collaboratively with Town Departments to advocate for capital projects: building envelope and systems upgrades and replacements; building renovations and replacements; creation, maintenance, and enhancements of playing fields and playgrounds; lighting projects including retrofits; etc. These town expenses are described in the Financial Section under Town of Wellesley.
2 Retirement costs for professional staff are funded through the Massachusetts Teacher’s Retirement Board (MTRB) at the state level.
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