Wellesley Public Schools: Fiscal Year 2026 Budget
Fund Types
The school department financial data is presented in multiple views to provide the reader with general and detailed information. Fund accounting allows the district to track money allocated to various areas of the organization. There are three main funds: general fund, grant funds, and special revenue funds. Each fund has multiple subsidiary accounts. For instance, the grant funds include state grants, federal grants, and private grants. Below is a visual display of the funds followed by a narrative explanation.
Special Revenue Funds
General Fund
Grant Funds
Types of Revenue: State Education Aid Local Property Taxes District Fees District Tuition
Types of Revenue : State Grants Federal Grants Private Grants Donations Types of Expenses : METCO Special Education Staff Program Expenses
Types of Revenue : State Reimbursement Federal Reimbursement District Fees District Tuition Types of Expenses : National School Lunch Program (NSLP) Staff Program Expenses
Types of Expenses : School Operating Budget Town Support of Schools Cash Capital
General Fund revenue is derived from three sources: local property taxes, state education aid (Chapter 70), and budgeted offsets. Chapter 70 refers to the school funding formula updated through the Student Opportunity Act. In November 2019, the Massachusetts State Legislature passed an Act Relative to Educational Opportunity for Students, commonly known as the Student Opportunity Act (SOA). The Act makes significant changes to the Chapter 70 formula, previously updated in 1993 through the passage of the Education Reform Act. The Act establishes new, higher foundation budget rates in five areas: benefits and fixed charges, guidance and psychological services, special education out of district tuition, English learners, and low-income students, all to be phased in over a seven-year period (FY’22-FY’29). In Wellesley, Chapter 70 funds account for $10,345,036 or 11.35% of the total FY’25 budget. Local property taxes are our primary funding source and account for $75.76 million or 83.18% of the total FY’25 budget. With the reliance of local property taxes, the School Committee and School Administration are mindful in developing a budget that is fiscally responsible as indicated by the annual Budget Guidelines. The expenses charged to the General Fund are the core educational costs including administrator, teacher, and staff salaries; instructional materials; textbooks and library materials; special education; math and literacy support; transportation; and professional development. Cash Capital are general fund monies set aside for small capital needs (non-vertical and non- horizontal construction). At schools, cash capital funds are used to purchase and replace classroom furniture; purchase or repair classroom sound systems; purchase information technology; and vehicles.
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