August 22, 2017

Region 4 Returns 2015-16 Surplus to Towns, Sinking Fund

AREAWIDE — On Thursday, Jan. 5, 2017, the Region 4 Board of Education approved a report from the accounting firm of Mahoney and Sabol that reflects a surplus of $157,046 from the 2015-2016 academic year. “This audit is a great endorsement of our continued focus on meeting the needs of our students while keeping a very close eye on the bottom line …” said Chris Riley, Region 4 Board of Education Chairman.

Per the Region 4 Board of Education policy, the surplus is split with 50 percent returned to member towns, and 50 percent deposited in the Region’s Sinking Fund accounts. Accordingly, member towns will receive refunds as follows:

  • Chester $18,838
  • Deep River $24,876
  • Essex $34,809

In addition, $78,523 will be deposited in the Region 4 Sinking Funds allocated as follows:

  • Paving $26,175
  • Flooring $26,174
  • Field and Repair $26,174
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