Milton Finance Panel Moves Toward $500,000 Special Education Stabilization Fund Deposit

MILTON -- March 18, 2026, Milton budget panel edges toward $500,000 special education reserve deposit ahead of Town Meeting. The School Committee Finance Subcommittee held a joint session March 18 with Select Board and Warrant Committee members to debate where to direct approximately $500,000 in available free cash, with most participants favoring the town's Special Education Stabilization Fund, a statutory reserve currently holding a minimal balance after the district began FY26 with roughly $8,700 in the account. School business staff presented updated Circuit Breaker projections showing $3 million in planned utilization for FY27, up from an original estimate of $2.6 million, against an assumed $3.5 million state reimbursement, with a four-year goal of accumulating $2.7 million in reserve. Select Board member Jay argued that leaving the money in free cash would give the town "maximum flexibility" against forecast risks including a potential 7 percent health insurance inflation rate and a 4.5 percent annual school salary assumption, while Warrant Committee member Amy Dexter countered that the dedicated fund allows emergency spending without a Town Meeting vote. No formal vote was taken; the Warrant Committee is set to make a recommendation the following Monday, and participants agreed a governing policy for the stabilization fund, covering withdrawal triggers and balance floors, must be drafted before Town Meeting.