Oxford School Board Returns $138K Surplus to Town

The Oxford Board of Education has returned a $138,000 surplus from the 2011-12 fiscal year to the town's general fund.

First Selectman George R. Temple said in a news release that he could not recall a recent time when the board had returned a surplus to the town.

“The Board of Education has been extremely fiscally responsible and I enjoyed working with them," he said. "This board is looking out for our taxpayers. This was a job well done.

Board of Education Chairwoman Paula Guillet said that since last November, the current school board, school Business Manager Rosemary Hanson and interim Superintendent John Reed, Ph.D., have worked diligently to control costs while addressing the needs of educating the children, according to the news release.

“My goal has been to open communication, maintain transparency and work together in a bipartisan manner with the Selectmen’s Office and the Board of Finance," Guillet said.

The school board said at its meeting Tuesday night that it saw significant savings in heating costs due to the mild winter.

Temple said that in year's past, school boards had spent surplus money before the end of the fiscal year. He commended Guillet, the board and school officials for returning the money.

“Paula (Guillet) is doing an excellent job,’’ Temple said.

Town Finance Director James Hliva said in the news release, which was submitted by Temple's administrative aide Joanne Pelton, that he's “very pleased to see there is a surplus."

"Along with a projected town surplus, it will help to maintain our credit rating," he said. "Moody's Investment Services was concerned that there had been continued deficits over the last few years and now this surplus will show we are moving in the right direction.’’

He said the surplus will help the town get back to its projected 10 percent of the $40.6 million budget to its fund balance, as recommended by town policy.  The fund balance has recently been around the 8 percent mark.