Wellesley Public Schools: Fiscal Year 2026 Budget
Each year Wellesley Public Schools experience staff turnover. Turnover can be a result of retirements, resignations, etc. The retirement of a tenured teacher can result in savings of $50,000. Although the number of retirements and resignations vary year-to-year, the district uses history to inform current projections. A negative account is budgeted annually, which represents the total expected savings from the various staff turnovers in the upcoming year. The district monitors the cost differential generated from staff turnover and expects to meet or exceed the budgeted savings. Annual Audits: The district’s grant funds are audited as part of the Town’s Single Audit. In addition, the Town’s audit firm also audits the school’s MA DESE End-of-Year Financial report. When received by the district, the audit reports are reviewed with the School Committee. Local Revenue Sources As a municipal school district, the main source of revenue for the operation of the Wellesley Public Schools is local property taxes and other municipal revenues. The other revenue sources include state education aid, commonly referred to as Chapter 70; fees and tuition collections applied as offsets to the general fund; and grant awards including donations. Chapter 70, or state education aid, funds are dependent on the state funding formula and the state’s General Appropriations Act (GAA). For budgeting purposes, the district has assumed level funding of Chapter 70 aid.
Below is a summary of revenue sources to support the Wellesley Public Schools on an annual basis (FY’25 Data):
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