Wellesley Public Schools: Fiscal Year 2026 Budget
Expenditures classified as a 7000 account expenditure must exceed the dollar limits for non- instructional equipment ($5,000) unless part of a school construction project. See Guidance for Reporting Revenue and Expenditures for School Construction. (8000) Debt Retirement and Service: Retirement of debt and payment of interest and other debt costs. Principal and interest on current loans are not part of this function but are reported in fixed charges (5400/5450). (9000) Out-of-District Tuition: These activities involve the payments to other school districts or to non-public schools for services provided to students residing in the sending city or town. Object Code Categories In Level 1 through 3, the data is summarized by object codes. A brief explanation of the object codes is listed below.
(51) Salaries & Other Compensation includes professional, clerical, and other salaries.
(52) Equipment Maintenance includes maintenance of equipment.
(53) Contracted Services includes all contracts for both student and non-student related services.
(54) Supplies & Materials includes all instructional and office related supplies and materials.
(57) Other Charges includes other expenses that do not clearly fall into the previous categories.
(59) Budgeted Offsets represent accounting adjustments to reduce budgeted expenses based on revenue collections (i.e., Athletics). Further information can be found in the Executive Summary: What is a Budgeted Offset?
(00) Unassigned represent fixed assets and debt related expenses.
Financial Projections
The financial projections are based on an examination of the financial trends by fund and expected and known increases in revenue and expenses. The assumptions applied to each table are outlined in the narrative proceeding the table and key takeaways are provided
after each table.
General Fund (Operating Only) (Level 2): Revenue Assumptions: State Education Aid (Chapter 70): the current state funding formula for education implemented through the Student Opportunity Act (SAO) will increase elements of the state education formula and will provide additional funds and minimize the impact of declining enrollment. o FY’27 – FY’29: Increase by $25 per student based on the following projected enrollment: FY’27: $25.00 x 3,860 students = $96,500
Page 79 of 410
Made with FlippingBook Digital Proposal Creator