July 23, 2021
I hope your summer is going well. I wanted to provide a quick update on a couple of topics that I have received questions on recently.
The State of Maine passed a bill in June that increased the amount of subsidy that the District will receive from the State in the upcoming year. Due to the passage of the bill, RSU5 will receive an additional $388,271 from what we anticipated when the budget was created. The RSU 5 Finance Committee and Board of Directors agreed to place the additional funding in the unexpended fund balance. The law for the increased subsidy was not passed until after the last Board meeting and after the passage of our budget. This additional subsidy will be used to offset taxes next year.