"Considering everything except encumbered amounts, our schools had excess funds of $742,681, $1,169,824 and $1,229,723 for FY09, FY10 and FY11, respectively. One practice of “memo” carry forwards was used by the prior school business administrator to list end-of-year account balances that she wanted to carry forward into the next fiscal year on a memo, thereby carrying the money into the next year rather than return the unexpended amounts to the town. This practice has been discontinued by our new business administrator."

Read more: Guest columnist: Looking further into school finances - Wayland, MA - Wicked Local Wayland http://www.wickedlocal.com/wayland/n...#ixzz1cRmF6qH4