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Finance Director Velez secures approval for $138K budget transfers

April 16, 2025 | Medford Public Schools, School Boards, Massachusetts


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Finance Director Velez secures approval for $138K budget transfers
The Medford School Committee held a regular meeting on April 16, 2025, where a significant focus was placed on budget management. The primary agenda item was a proposal for budget transfers amounting to $138,431.25, presented by Mr. Noel Velez, the Director of Finance.

Mr. Velez emphasized the importance of maintaining fiscal responsibility while managing the school district's budget. He explained that the transfers were necessary to balance overspending in certain program areas by reallocating funds from other lines where there were surpluses. This approach aims to ensure that all departments remain within their allocated budgets as the fiscal year comes to a close.

The committee members expressed their support for the proposal. Member Russo made a motion to approve the budget transfers, which was seconded by Member Ntapa. Following a brief discussion, the committee voted unanimously in favor of the motion, with six members voting yes and one absent.

This decision reflects the committee's commitment to responsible financial management and transparency in the use of school funds. The approved budget transfers will allow for better allocation of resources as the school year progresses.

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Scribe from Workplace AI
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