Stamford finance committee wants less money in school construction fund for 2024-25 budget

The Board of Representatives committee in charge of reviewing the budgets for the city and public schools has recommended that the full board approve them without any more cuts. However, the recommendation comes with an understanding that the Board of Finance will reduce the amount of money that will be raised through taxes for Stamford’s school construction reserve to $10 million. The Board of Representatives and Board of Finance agreed to raise $20 million for the fund in 2022 and another $15 million last year. The Board of Finance also allocated $5 million in surplus money to the fund. The Board of Finance took up the proposed operating and capital budgets earlier this month. It reduced the Board of Education’s side of the combined operating budget by $3 million, the city government’s side by about $2.15 million and the capital budget by about $5.4 million.

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